Crypto Price Analysis 6-12: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, DOGECOIN: DOGE, COSMOS: ATOM, CELESTIA: TIA

The crypto market is back in the red after Bitcoin (BTC) and other cryptocurrencies lost momentum despite lower-than-expected Consumer Price Index (CPI) figures. BTC was trading around $110,000 and rose to a peak of $110,350 but lost momentum after reaching this level, dropping to a low of $107,521 before rising to its current price of $107,792. The flagship cryptocurrency is down nearly 2% over the past 24 hours. Ethereum (ETH) also fell into bearish territory after crossing $2,800. Increased selling pressure saw the price slip to a low of $2,762 before moving to its current level. Ripple (XRP) is down nearly 2%, while Solana (SOL) slipped below $160 and is currently trading at $159, down almost 4%. Dogecoin (DOGE) is down 3.60%, while Cardano (ADA) is down nearly 4%, trading around $0.692. Chainlink (LINK) , Stellar (XLM) , Toncoin (TON) , Hedera (HBAR) , Litecoin (LTC) , and Polkadot (DOT) also registered notable declines. US Markets Rise After Positive Trade Talks, Favorable Inflation Data US markets rose on Wednesday after President Donald Trump claimed the US-China trade deal was almost done following two days of intense negotiations in London. Talks produced a tentative “framework deal,” easing tensions between the two global economies. However, the agreement still requires approval from Trump and Chinese President Xi Jinping. Tensions between the US and China escalated after talks in Geneva, with China cutting rare earth exports while the US targeted Chinese students linked to the Communist Party. While details of the deal are unclear, both sides claim good progress has been made. Economic data also hinted at a healthier economy, with the Dow Jones Industrial Average gaining 142 points while the Nasdaq Index rose 0.4%. Trump called the May Consumer Price Index numbers “great” and demanded a full percentage point rate cut, arguing it would reduce federal interest payments. “CPI just out. Great numbers! Fed should lower one full point. Would pay much less interest on debt coming due. So important!!!” The CPI rose 2.4% year-over-year in May, slightly below the predicted 2.5%. Meanwhile, Core CPI rose 2.8%. Monthly increases also registered marginal increases, with headline and core CP rising 0.1%, missing expectations. A rate cut weakens the US Dollar and lowers the yield on traditional assets, making risk assets like crypto more attractive. It also boosts market liquidity, driving more capital into digital assets. GENIUS Act Passes Crucial Test The GENIUS Act won a crucial vote 68-30 in the US Senate, paving the way for a final vote scheduled for next Monday. If passed, the bill will be the first national regulatory framework for stablecoins in the US. The act requires stablecoin issuers to maintain 100% reserves, submit to annual audits if their market cap exceeds $50 billion, and adhere to rules for foreign issuers. The act could serve as a benchmark for stablecoin regulation in the US. Senate Majority Leader John Thune spoke favorably about the bill, adding that it will help bring crypto into the mainstream. “We want to bring cryptocurrency into the mainstream, and the GENIUS Act will help us do that.” However, not all lawmakers supported the bill. Senator Elizabeth Warren was highly critical of the bill and stated that it failed to address bipartisan amendments. She also warned of political risks linked to President Trump’s crypto dealings. Warren stated, “By passing the GENIUS Act, the Senate is not only about to bless this corruption, but to actively facilitate its expansion.” Industry leaders believe the bill could unlock institutional participation, with Yuval Rooz, CEO of blockchain firm Digital Asset, calling it a pivotal moment in crypto regulation. “The passage of the GENIUS Act marks a long-awaited shift from regulation by enforcement to regulation by clarity. It provides banks with a clear framework to confidently engage with stablecoins, unlocking stalled strategies by ensuring full reserves, regular audits, and substantive consumer protections.” Nigeria Issues Fresh Warning Against CBEX Exchange Nigeria’s Securities and Exchange Commission has issued a fresh warning against the Crypto Bridge (CBEX) exchange. The exchange, also known as ST Technologies International Ltd, Smart Treasure, or Super Technology, has reportedly resumed operations despite lacking regulatory approval. According to the authorities, CBEX is soliciting payments from users looking to withdraw funds from the platform. The exchange is reportedly demanding $200 from users with balances exceeding $1,000, and $100 from accounts with lower balances. The SEC confirmed that CBEX and its associated entities are not registered to operate in the country. It also revealed enforcement actions had been initiated against the company and its promoters due to previous unapproved investment schemes. “The Nigerian public is accordingly advised to refrain from patronizing or transacting with CBEX or ST Technologies International Ltd (Smart Treasure or Super Technology) as they risk losing their funds.” Ukraine Mulls Crypto Asset Reserve Bill Ukrainian lawmakers have introduced a draft bill allowing the National Bank of Ukraine to include Bitcoin (BTC) and other cryptocurrencies in the country’s reserves. The bill proposed amendments to the law on the National Bank of Ukraine to include crypto assets alongside gold and foreign currencies. The bill authorizes the Central Bank to acquire cryptocurrencies like BTC for the country’s reserves. Additionally, the bank will have full discretion over allocating portions of its reserves to crypto, how much to allocate, and when to do so. Bitcoin (BTC) Price Analysis Bitcoin (BTC) extended its losses despite favorable Consumer Price Index (CPI) numbers, as the flagship cryptocurrency fell below $108,000. BTC is down nearly 1%, trading around $107,697. BTC started the week on a bullish note, surging past $110,000 on Monday. However, it lost momentum in subsequent sessions, slipping below $110,000 on Wednesday to settle at $108,687. While BTC is trading in the red, analysts believe the asset is entering a period of volatility before a short-term rally to $111,000, thanks to several macroeconomic factors. These factors include a potential breakthrough in US-China trade talks, and softer-than-expected inflation numbers, which could support a rally. Jag Kooner, Head of Derivatives at Bitfinex, believes a possible agreement between the global economies could reduce market uncertainty and boost investor sentiment. However, he pointed out that the market could have already priced in a potential breakthrough, indicating a limited price impact. Kooner believes the most likely short-term effect will be increased volatility. The same applies to CPI numbers. According to Kooner, these developments suggest BTC could be preparing for a significant rally. “Core CPI up 0.1% m/m firms up rate cut bets, compresses real yields, and creates a vacuum above $111K for bitcoin. That move would likely be spot-driven, with ETF demand accelerating as the macro regime shifts toward easing.” Bitfinex analysts believe BTC could reach $111,000 despite heightened volatility and a substantial decline to below $108,000 this week. According to Kooner, soft inflation numbers could increase the likelihood of a rate cut, giving assets like BTC a boost. The Bitfinex analyst believes this could drive the price to $111,000 even though its upside depends on the performance of the S&P 500. “BTC’s tight correlation with the S&P 500 (30D r ~0.63) reveals its current role as a liquidity barometer rather than a volatility hedge. This correlation makes BTC highly sensitive to SPX range-bound conditions, and until the index breaks out, BTC’s upside remains constrained.” BTC started the previous week with a drop to $103,768 as selling pressure took hold. However, it rebounded from this level to register a marginal increase and move to $105,902. The price lost momentum on Tuesday, falling 0.44% to $105,435. Sellers retained control on Wednesday as BTC fell almost 1%, slipping below $105,000 and settling at $104,752. Selling pressure intensified on Thursday as BTC fell 3%, dropping to a low of $100,424 before settling at $101,614. Bullish sentiment returned on Friday as the price rose almost 3% and settled at $104,378. Source: TradingView BTC remained positive over the weekend, rising .15% on Saturday and 0.20% on Sunday to reclaim $105,000 and settle at $105,784. Bullish sentiment intensified on Monday as BTC rallied, rising over 4% to surge past the 20-day SMA and $110,000 and settle at $110,251. The price fell to a low of $108,335 on Tuesday but recovered to reclaim $110,000 and settle at 110,253. Price action turned bearish on Wednesday as BTC fell 1.42%, slipping below $110,000 and settling at 108,687. The current session sees BTC down over 1%, trading around $107,483. If bearish sentiment persists, BTC could drop to $105,000. A bearish MACD suggests buyers have the upper hand. Ethereum (ETH) Price Analysis Ethereum (ETH) teased a move past $2,900 on Wednesday but lost momentum after rising to an intraday high of $2,878 as its rally halted abruptly. ETH faces resistance at around $2,850 but briefly crossed this level after its futures open interest surged to an all-time high of 15.21 million ETH. Funding rates have also risen, indicating a growing risk appetite among ETH investors. The Chicago Mercantile Exchange (CME) accounted for most of the OI growth, with the Volatility Shares 2x Leveraged ETH ETF as the main catalyst behind the increase. The surge shows that institutional investors were behind the growing leverage demand. According to a K33 Research report, the ETH equivalent exposure of ETHU rose by 305,100 ETH, while the CME’s ETH OI rose by 295,250 ETH. The report concluded, “In other words, without VolatilityShares, CME’s ETH OI would have declined by 9,850 ETH over the past two months. It is concerning to see one single entity cornering such a massive share of the market on CME, and it originates from a bunch of traders thirsting for leveraged long exposure in ETH.” ETH started the previous week positively, rising nearly 3% to cross the 20-day SMA and $2,600 to settle at $2,607. The price registered a marginal decline on Tuesday but recovered on Wednesday to reclaim $2,600 and move back to $2,607. Bearish sentiment intensified on Thursday as ETH plunged over 7%, slipping below the 20-day SMA and $2,500 and settling at $2,415. Despite the overwhelming selling pressure, ETH recovered on Friday, rising almost 3% to $2,479. Source: TradingView Buyers retained control on Saturday as the price rose almost 2% to reclaim $2,500 and settle at $2,525. However, it was back in the red on Sunday, dropping 0.57% to end the weekend at $2,511. ETH started the current week on a bullish note, rising nearly 7% to cross the 20-day SMA and settle at $2,680. Buyers retained control on Tuesday as the price rose over 5% to cross $2,800 and settle at $2,816. ETH raced to an intraday high of $2,878 on Wednesday but lost momentum after reaching this level and dropped 1.56% to slip below $2,800 and settle at $2,772. The current session sees the price marginally down, trading around $2,752. Solana (SOL) Price Analysis Solana (SOL) fell short of $170, losing momentum after reaching a high of $168 on Wednesday as markets turned bearish. SOL registered a substantial increase over the past few sessions after reports that US regulators are moving forward for spot SOL ETFs. The altcoin reclaimed $165 as selling pressure dried up, but turned bearish as volatility returned to the markets. SOL started the previous week in the red, registering a marginal decline to $165. It rose to an intraday high of $164 on Tuesday but lost momentum after reaching this level, ultimately dropping over 1% to $155. Sellers retained control on Wednesday as the price fell 1.29% to $153. Selling pressure intensified on Thursday as SOL plunged nearly 6%, slipping below $150 and settling at $144. SOL recovered on Friday, rising 2.47% and settling at $147. Source: TradingView The price remained in positive territory over the weekend, rising 1.51% on Saturday and 1.56% on Sunday to reclaim $150 and settle at $152. Bullish sentiment intensified on Monday as SOL rose nearly 6%, crossing $160 and the 20 and 50-day SMAs and settling at $161. The price continued to push higher on Tuesday, rising 2.44% to $165. However, it was back in the red on Wednesday, falling 2.48% to $161. SOL is down over 1% during the current session, trading at $159 after losing the $160 level. Dogecoin (DOGE) Price Analysis Dogecoin (DOGE) started the previous week positively, rising almost 1% to $0.196. It lost momentum on Tuesday after reaching an intraday high of $201 and fell 1.58% to $0.192. Sellers retained control on Wednesday as the price fell over 2% to $0.188. Selling pressure intensified on Thursday as DOGE plunged nearly 9%, slipping below $0.180 and settling at $0.171. Despite the overwhelming bearish sentiment, DOGE rebounded on Friday, rising almost 5% to settle at $0.179. Source: TradingView DOGE continued to push higher on Saturday, rising almost 3% to reclaim $0.180 and settle at $0.184. However, it fell back on Sunday, dropping 0.49% to end the weekend in the red. DOGE started the current week in positive territory, rising over 5% to cross $0.190 and settle at $0.194. Buyers retained control on Tuesday as the price rose 2.22% to $0.198. DOGE raced to an intraday high of $0.206 on Wednesday, briefly crossing the 20 and 50-day SMAs. It lost momentum after this level and fell 2.52% to $0.193. The current session sees DOGE down over 2%, trading around $0.189. Cosmos (ATOM) Price Analysis Cosmos (ATOM) began a rally on Friday and surged past $4.50 on Tuesday as buyers attempted a move past key moving averages and resistance levels. However, the price has declined substantially over the past two sessions as markets turn bearish. ATOM registered a sharp increase on Monday (June 2), rising 2.43% to $4.47. It lost momentum on Tuesday, falling 1.10% to $4.42. Sellers retained control on Wednesday as the price fell over 3% to $4.27. Bearish sentiment intensified on Thursday as ATOM plunged over 4% and settled at $4.08. The price recovered from this level, racing to an intraday high of $4.29 before settling at $4.17, ultimately registering an increase of 2.17%. Source: TradingView Price action remained positive on Saturday as ATOM rose over 3% and settled at $4.31. However, the bearish sentiment returned on Sunday as the price fell almost 1%, ending the weekend at $4.27. ATOM started the week trading in positive territory, rising nearly 4% and settling at $4.44. The price continued pushing higher on Tuesday, 3.47% to cross the 20-day SMA and settle at $4.59. However, ATOM lost momentum on Wednesday and fell almost 2% to $4.50. The current session sees the price down nearly 3%, trading around $4.38 after slipping below the 20-day SMA. Celestia (TIA) Price Analysis Celestia (TIA) increased nearly 2% on Monday (June 2) and moved to $2.25. It lost momentum on Tuesday, falling 0.46% to $2.24. Sellers retained control on Wednesday, as the price fell 4.44% and settled at $2.14. Selling pressure registered a significant increase on Thursday as TIA plunged over 8%, slipping below $2 and settling at $1.97. TIA continued to decline on Friday, falling nearly 1% and settling at $1.95. Source: TradingView Price action turned positive on Saturday as TIA rose 5.51% to reclaim $2 and settle at $2.06. However, it was back in the red on Sunday, falling 2.52% and settling at $2 as buyers prevented a drop below this level. TIA started the current week positively, rising nearly 6% and settling at $2.12. The price continued pushing higher on Tuesday, rising 3.60% to $2.20. TIA raced to an intraday high of $2.26 on Wednesday but lost momentum after reaching this level. As a result, it fell 4.40% and settled at 2.10. The current session sees TIA down over 2%, trading around $2.06. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: Crypto Daily