Bitcoin, Ethereum, XRP, Dogecoin Steady As Inflation Cools

Crypto markets are holding steady with a slight upward bias after U.S. May inflation data came in lower than expected, sparking renewed optimism for potential Federal Reserve rate cuts.

Notable Statistics:

• IntoTheBlock data shows Bitcoin's large transaction volume increasing by 25.8% and daily active addresses growing by 13.4%. Transactions greater than $100,000 are up from 11,665 to 13,286 in a single day. Exchanges netflows are down by 125.95%.
• Coinglass data reports 91,906 traders were liquidated in the past 24 hours for $251.18 million.

Notable Developments:

• Brazil, India Lead Emerging Markets For Crypto Investment Opportunities, Deus X CEO Tim Grant Says
• Bitcoin’s First Resistance After New Highs Is $115,400: Glassnode
• Stripe Acquires Crypto Wallet Infrastructure Startup Privy
• Cantor Fitzgerald, Wall Street Companies Will Lower Crypto Lending Costs, SALT CEO Says
• Elon Musk Says Some Comments About Donald Trump ‘Went Too Far’ — And Polymarket Traders Think DJT May Accept The Olive Branch
• Public Company Bitcoin Holdings Are A ‘Megatrend’ Just Getting Started, Says Bitwise’s Matt Hougan

Trader Notes: Position trader Bob Loukas, known for mapping Bitcoin's 4-year cycle, continues to track BTC's performance within this historical framework.

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A recent Rekt Capital survey reveals that the majority of market participants expect Bitcoin to peak between $150,000 and $200,000 in this bull cycle, with 33.9% selecting this range.

39.7% believe the top will land somewhere between $113,000 and $150,000.

Trader Altcoin Sherpa wondered whether Bitcoin can continue its uptrend with a “Joyful June.”

Read Next: 

• Bitcoin Hovers Below $110,000: Is This The Calm Before The Storm?

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