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Crypto
U.S. CLARITY Act gains momentum, bitcoin stretches higher
Bitcoin rose above $66,000 to its highest in a month, with expectations of easing regulatory uncertainty after signs of progress on the U.S. CLARITY Act. U.S. spot bitcoin ETFs recorded net inflows for five straight sessions, totaling $727.3 million. Reports said the White House agreed on an ethics provision, though the Senate vote remained uncertain. Macro factors, stablecoin use cases and security issues also drew attention.
Crypto
PlanB sets $500,000 average bitcoin target for this halving cycle
On-chain analyst PlanB has forecast bitcoin could average $500,000 in the current halving cycle, with a potential upper range of $1 million. He put the price range for the cycle at $250,000 to $1 million, citing bitcoin’s mathematical cycle structure tied to halving events. PlanB said the market was past halfway through the current epoch with 639 days remaining, and warned against confusing temporary pullbacks with a cycle end.
Crypto
Bitcoin closes June below 200-week moving average; bear market bottom not yet in
Bitcoin finished June trading below its 200-week moving average but above its realised price, raising the possibility of further declines. Cointelegraph reported it fell 20.5 percent in June to close at $58,526, its weakest monthly performance since June 2022. PlanB said past bear market bottoms formed below realised price and saw potential for a drop to $52,000. Other analysts were divided on whether a bottom is near.
