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Crypto

Wintermute warns bitcoin may fall to $50,000s in summer, dismisses bottom calls

Wintermute cautioned it is too early to judge that bitcoin has bottomed, warning the price could slip into the $50,000 range during thin summer trading. It said the recent rebound may reflect a relief rally driven by easing macro uncertainty, including inflation data and a fall in Brent crude as the Iran conflict moved toward an end phase. The firm said derivatives markets lack strong directional conviction and flagged weak signs of renewed inflows via stablecoins, spot ETFs and listed companies holding crypto.

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.

Crypto

Shiba Inu daily burn value just $4 as burn rate drops 72 percent

Shiba Inu\'s daily token burn rate fell 72.04 percent, with 936,689 SHIB burned in the past 24 hours worth about $4. Weekly burns also dropped, reflecting weaker trading across the broader crypto market. Santiment said trading volumes in major non-stablecoin and stablecoin assets were near multi-quarter lows. Derivatives indicators pointed to rising bearish sentiment. The token price remained weak but rose 1.87 percent after U.S. CPI data.