U.S.-China Talks in London, Bitcoin Tests Key Support, Ripple and Worldcoin Make Moves

Crypto:

ARK Invest CEO Predicts 15x Bitcoin Growth

Cathie Wood from ARK Invest forecasts Bitcoin could surge 15x over the next five years, presenting it as a unique global monetary system disconnected from traditional finance.

Michael Saylor: Quantum Threat Is Marketing Hype

Saylor argued that fears over quantum computing are exaggerated. He stated that companies like Google and Microsoft wouldn’t sell tools that could destroy the cryptographic foundations of Bitcoin, as it would undermine global infrastructure, including governments and banks.

Bitcoin Tests a Critical Level

Bitcoin is now at a crucial support point that could shape its price action for the next two weeks. Negative funding rates, bottom-formation indicators, and a spike in spot demand suggest strong bullish potential, according to 10x Research.

Ripple Launches Web3 Grant Program in Japan

Ripple announced a new program with Web3Salon offering up to $200,000 per Japanese Web3 project through the XRPL Japan and Korea Fund.

$HYPE Speculation Grows After Binance X Post

Arthur Hayes believes $HYPE could be listed on Binance following a suggestive post by Binance’s X account that referenced Hyperliquid.

Worldcoin Launching in the UK on June 12

Worldcoin ($WLD), backed by OpenAI’s Sam Altman, will launch in London before expanding to other UK cities, aiming to redefine digital identity.

Bitcoin Network Hits 19-Month Low in Activity

BTC’s 7DMA dropped to 316,720 transactions, marking the lowest point since October 2023, despite rising prices and ETF inflows.

Avalon Labs Burns 80M $AVL Tokens

Avalon Labs burned $16M worth of tokens (44% of supply), turning $AVL into a deflationary asset and excluding unclaimed airdrop tokens from circulation.

Weekly ETF Flows

• BTC ETFs: $129M net outflow

• ETH Spot ETFs: $281M net inflow

Thailand Launches G-Tokens for Government Bonds

Thailand has tokenized its sovereign debt with the launch of blockchain-based G-Tokens to modernize bond infrastructure.

Macro:

Trump Demands Military in Los Angeles

Amid civil unrest, Donald Trump called for U.S. troop deployment in Los Angeles, escalating tensions as posted on Truth Social.

U.S. Treasury Yields Near Crisis-Era Levels

30-year bond yields closed at 4.97%, nearing highs not seen since the 2008 global financial crisis, raising concerns over long-term debt costs.

China’s Inflation and Stimulus

• CPI YoY: -0.1%

• PPI YoY: -3.3%
  The PBoC injected 173.8B yuan via 7-day reverse repos at 1.4%, aiming to combat deflationary pressure.

Kevin Warsh Rumored as Fed Chair Candidate

Speculation grows that former Fed governor Kevin Warsh may be a top contender to lead the U.S. Federal Reserve.