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Crypto

No bitcoin summer bull market, analyst sees 3 to 5 months of sideways trade

Market talk is resurfacing that bitcoin is less likely to rebound this summer. Veteran trader Peter Brandt cites a chart for ProShares UltraShort Bitcoin ETF SBIT, which bets on bitcoin declines, as suggesting further downside pressure if a technical reversal pattern plays out. Another analyst, Bob Loukas, says the market remains in a bearish phase and may need 3 to 5 months of choppy sideways trading to build a base for the next cycle.

Telecommunications & Media

LGU+ to hold Uth Shorts Festival with Google, seeking generative AI content

LGU+ will hold the second Uth Shorts Festival, a customer-participation Shorts video contest run with Google and YouTube, the company said on Tuesday. The contest runs through July 31 and is open to anyone regardless of age or mobile carrier. This year’s theme is expressing one’s identity using AI, with two categories. Winners will be chosen based on topic fit, quality and views, with top entrants offered an AI training trip to Los Angeles.

Crypto

Ethereum funding rates diverge across exchanges, signalling cooling leverage demand

Ethereum funding rates have fallen to an effectively neutral level, suggesting weaker directional positioning in the derivatives market. As of June 4, the eight-hour average funding rate stood at 0.0028 percent, or about 0.0084 percent per day and roughly 3 percent annualised. Rates varied by exchange, with Bybit negative while Binance, OKX and Gate were positive, indicating no one-sided market alignment. Ethereum open interest fell 5.06 percent over 24 hours.