Ethereum Gets Serious

DAILY MARKET OVERVIEW

BlackRock Pauses, ETH Steps In

👋 Hey, Crypto Enthusiasts! June kicks off with a market that feels like it’s holding its breath. Let’s get into it.

🔻 Bitcoin Dips Below $105K

Bitcoin is currently trading around $104,000, slipping from its recent May peak of $111,000. This pullback is part of a broader cooling across risk assets, driven by renewed trade tensions between the U.S. and China and some shifting signals in institutional activity.

The biggest eyebrow-raiser? BlackRock’s IBIT ETF just ended its 31-day inflow streak with a $430.8 million outflow on May 30, its largest ever. That might sound alarming, but it’s important context: even with that outflow, institutional interest in Bitcoin remains strong.

• MicroStrategy just added 705 BTC ($75M), pushing its holdings to 580,955 BTC, or about 2.8% of total supply

• Metaplanet, a Japanese investment firm, bought 1,088 BTC, bringing its total to 8,888 BTC

So while the charts might show weakness, the wallets that matter are still growing.

🎤 Powell Speaks Tonight

Fed Chair Jerome Powell is set to speak later today. No direct crypto comments are expected, but everyone will be listening closely for any hints on monetary policy. With U.S.-China trade talks heating up again, and inflation still in the mix, the Fed’s next move could sway all risk assets, crypto included.

Market participants are especially sensitive to any language suggesting tighter policy, which could weigh on liquidity-sensitive assets like Bitcoin and Ethereum. For now, Powell’s tone has remained cautious but consistent.

👀 Ethereum Is Starting to Look Interesting Again

While Bitcoin has dominated the headlines, Ethereum is quietly building momentum, and not just in DeFi.

SharpLink Gaming, a U.S.-based sports betting firm, is making a big bet on ETH. The company filed with the SEC to offer up to $1 billion in stock, with plans to use the majority of the funds to purchase Ethereum and build a treasury strategy around ETH.

This isn’t just a one-off move:

• SharpLink has already raised $425 million in a private round

• Its stock price jumped over 400%

• Joseph Lubin, Ethereum co-founder, is joining the board as chairman

If this playbook spreads, it could open a new chapter in corporate ETH adoption, similar to what we saw with BTC in 2020–2021.

On top of that, the total stablecoin market cap just crossed $250 billion, and about half of that supply sits on Ethereum. That reinforces Ethereum’s role as the main liquidity hub for the crypto economy.

🌎️ Global Liquidity Is Quietly Re-Accelerating

Beyond the charts and headlines, something big may be brewing: a global liquidity wave.

Analysts like Michael Howell and Raoul Pal are pointing to signs that central bank liquidity is rising again, and crypto could be the first asset class to feel the impact.

• The U.S. Treasury is drawing down its reserves

• China is easing aggressively, including a yuan devaluation

• Fiscal pressures and high debt levels are driving more expansionary policy across the world

Raoul Pal calls this the entry point into the "banana zone", a period of explosive growth for crypto driven by liquidity, narratives, and returning retail interest. His base case? A crypto market cap over $10 trillion by 2026 if liquidity keeps flowing.

Of course, this isn’t a done deal. A surprise spike in inflation or a hawkish pivot by the Fed could derail the setup. But for now, the early signs are lining up.

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SOCIAL SENTIMENT

Quiet, Defensive, and Waiting for a Spark

Across crypto communities, the sentiment right now is muted and cautious. Traders aren't panicking, but they're not excited either. This is a classic risk-off posture, where people are protecting capital, watching macro signals, and being selective about where they allocate funds.

⚠️ Altcoins

The biggest takeaway is that altcoins have lost momentum, both in terms of price action and community attention. Many traders feel that new projects aren’t offering much real value, and there’s a growing sense of fatigue with short-term hype cycles, especially in the meme coin space.

The current mood is: why bother rotating into riskier assets when Bitcoin is outperforming and the macro picture is still unclear?

• BTC dominance is currently at 64.4%, near yearly highs, showing that most capital is staying in Bitcoin for now.

• As long as this dominance trend continues, altcoins are likely to remain suppressed.

• Traders are still watching for signs of reversal - if BTC dominance starts to dip, it could mark the beginning of the next altcoin cycle.

📉 Small Caps Are Risky (And Most Know It)

Traders in Telegram groups and Discord channels are openly saying they’re avoiding micro-cap altcoins unless they’re in and out fast. Liquidity is thin, volatility is high, and any correction in Bitcoin, especially down toward $90K, could crush lower-tier tokens.

The general consensus is that small-cap altcoins offer poor risk-reward right now, unless you’re actively day trading or farming short-term hype.

🔍 Where Attention Is Focused

Right now, the few projects still getting attention tend to be:

• Ethereum - because of the growing treasury narrative, new ETH-focused corporate moves (like SharpLink), and its dominance in DeFi and stablecoin infrastructure.

• XRP - which still has a handful of catalysts ahead, including further clarity in its ongoing legal and regulatory developments, as well as ETF

• Bitcoin - not just as a store of value, but as a macro hedge in uncertain times. Strong narrative as digital gold

That doesn’t mean altcoins are done. On the contrary, many traders believe that once BTC stabilizes and dominance starts to fall, altcoins could rally hard, especially if global liquidity continues to build and retail interest returns.

NEWS OVERVIEW

The Latest Crypto Headlines 📰 

CZ Proposes Dark Pool DEX to Tackle Front-Running in DeFi
Binance founder CZ pitched a private perp DEX using zero-knowledge proofs to conceal trades and liquidation points from on-chain attackers.

DEXs Reach Record 25% Share of Spot Volume in May
Decentralized exchanges hit a new milestone in May, grabbing 25% of global spot trading volume, led by PancakeSwap’s $171.6B in trades.

Musk Reveals ‘Bitcoin Style’ Encryption for New XChat App
Elon Musk unveiled XChat with vanishing texts and encrypted calls, claiming “Bitcoin style” encryption, despite pushback from crypto experts.

SEC Flags Legal Concerns Over ETH, SOL Staking ETFs
The SEC questioned the structure of REX-Osprey’s ETH and SOL Staking ETFs just one day after declaring staking does not violate securities law.

YOUTUBE INFLUENCER SUMMARY

Summary From The Top Influencers 📷️ 

CredibleCrypto – Bitcoin Pulls Back After Making New ALL TIME HIGH! (02.06.2025 Summary)

📉 Bitcoin Pulls Back After New All-Time High, But Structure Remains Bullish

CredibleCrypto shares a quick but crucial update before heading out for a short break. Despite the recent dip after Bitcoin's all-time high, he's confident this is just another healthy step in the bigger uptrend. Here's what matters most:

TLDR:

• Recent pullback is expected and healthy, not a trend reversal

• Structure is bullish with clear impulsive price action

• Correction targets include 102K and 93K, but 74K is key high-timeframe support

• Even deeper dips won’t change long-term outlook

• Alts may offer better ROI, focus remains on them during the next leg

Bitcoin Structure: Why This Isn’t 2021

• Some fear a repeat of the 2021 double top, but Credible disagrees

• The 2021 move was corrective and weak, this one is impulsive and structurally sound

• Higher highs and higher lows are forming cleanly, confirming a true uptrend

Downside Levels: What to Watch

• As long as Bitcoin stays above 74K, high-timeframe structure remains intact

• First support zone is 102K to 104K

• If lost, next zone is 93K to 97K

• Even dips into the low 90Ks are normal in this context

Impulsive vs. Corrective: The Key Difference

• Past bearish phases followed corrective three-leg structures

• This move features clear impulsive waves with shallow, sideways pullbacks

• Corrections may drag out in form, but they’re setups for the next leg higher

Altcoins: Still the Best Risk-Reward

• Levels for CRV, XRP, and ETH remain unchanged

• If Bitcoin dips further, altcoin buy zones will likely be hit

• Credible prefers alt exposure here for higher upside potential

Credible’s Take:
This dip is just noise. The structure is intact, the setup is clean, and the rally to 150K is still on track. As long as we hold above 74K, there’s nothing to worry about. Dips are for buying, especially in altcoins, which should catch up hard once Bitcoin resumes its run.

Ivan On Tech – BITCOIN: BEAR TRAP BEFORE THE NEXT LEG UP!!!!! (02.06.2025 Summary)

In this episode, Ivan breaks down the current state of Bitcoin, emphasizing that we're likely in a bear trap, not the beginning of a crash. Here's the key takeaway:

Market overview

• Bitcoin remains in a strong bull trend despite recent pullbacks.

• Ivan outlines potential downside scenarios but labels most of them "extremely unlikely."

• The 50-week moving average continues to act as key support. As long as Bitcoin holds above it, the bull case remains intact.

Is this pullback dangerous?

• The current correction is minor; pullbacks are normal in uptrends.

• There are no signs of euphoria or a blow-off top, suggesting this is a reset, not a reversal.

• Ivan expects a quick recovery above 100K, with a potential run toward 200K to 300K by the end of the year.

Bear trap vs real breakdown

• Only a breakdown below 88K, combined with a red "money line" and a breach of the 50-week MA, would signal deeper trouble.

• Until that happens, Ivan believes this is a classic fake-out to shake out weak hands.

Macro commentary

• Trump and Elizabeth Warren both advocate for removing the US debt ceiling, a move Ivan believes will lead to more money printing.

• More liquidity from the Fed could significantly boost Bitcoin.

• Ivan points out the market hasn’t even entered easing mode yet, meaning the real bull leg could be ahead.

Altcoins and Ethereum

• Vitalik claims Ethereum L1 will scale 10x in a year, but Ivan expresses skepticism.

• Critiques Ethereum’s lack of clear commitment to solving L2 fragmentation and split liquidity problems.

• Says builders want assurances that Ethereum will remain efficient and unified.

Other topics covered

• Solana launches a new mobile app dev kit using React Native.

• Metaplanet becomes the 10th largest Bitcoin holder with a major buy.

• Ivan is bullish on smaller-cap altcoins like Hyperliquid and memecoins that show strong technical setups.

• He warns Australians about an upcoming unrealized capital gains tax and advises against building wealth in high-tax jurisdictions.

Conclusion

• Ivan remains bullish on the market.

• He sees the current dip as a bear trap, not a top.

• All indicators show the cycle is still intact, and the biggest move may be coming later this year.

• Traders should focus on strategy, ignore fear, and stay aligned with the macro picture.

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