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Crypto

Cardano market cap recovers to $6 billion, on-chain metrics sound warning

Cardano\'s market value has recovered to the $6 billion level as the broader crypto market ticked up after a U.S. inflation reading. But bearish sentiment is rising in derivatives markets, with more short bets and a potential dead cross on the weekly chart. On-chain data tracked by Santiment show unusual moves, including rising age-consumed metrics and dormant wallets starting to move, while trading volumes have fallen to a two-year low.

Crypto

U.S. inflation above 4 percent adds downside pressure on bitcoin and gold

U.S. consumer price inflation rose above 4 percent in May, raising the prospect that bitcoin and gold could face more pressure this year, a report said. The 4.2 percent annual gain weakened expectations for Federal Reserve rate cuts and prompted some to discuss the possibility of a rate hike within the year. Analysts cited real rates and limited liquidity as key factors, while CME futures implied a 98.4 percent chance rates stay unchanged at the June 17 FOMC meeting.

Finance

Bank of Korea governor Shin Hyun-song says rate hikes needed before it is too late

Bank of Korea Governor Shin Hyun-song said there is a need to raise the policy interest rate before it is too late, stressing a focus on price stability. He said growth has strengthened on the back of solid semiconductor exports driven by the global spread of AI, but inflation burdens are rising. He also cited risks from the housing market, household debt and leveraged investing.