Bitcoin charts show bearish divergences across multiple timeframes, a hint that price rallies above $110,000 could be a trap. Key takeaways: Bitcoin shows bearish divergences on multiple time frames, signaling weak bullish momentum and a potential pullback. Some traders anticipate a rally above $112,000, but increasing sell pressure and liquidity sweeps suggest the breakouts are traps. Read more
Roman Storm is scheduled to appear in a New York courtroom for his criminal trial on July 14, facing money laundering and conspiracy charges. Roman Storm, one of the co-founders and developers behind the cryptocurrency mixing service Tornado Cash, appeared in a video interview as his US criminal trial is expected to begin in less than two weeks. In an interview released Wednesday by Crypto In America, Storm said his legal team intended to address at trial the allegations that he had personally profited from illicit funds through his role at Tornado Cash. However, he declined to say whether he would testify in his own defense over charges of money laundering, conspiracy to operate an unlicensed money transmitter, and conspiracy to violate US sanctions. Read more
XRP could rally to $2.65 as a bullish trading pattern, and investors’ excitement over Ripple Labs’ US banking license application boosts interest in the altcoin. Key point: Ripple Labs’ application for a US banking license has acted as a catalyst for XRP, paving the way for a potential rally to $2.65. Ripple Labs CEO Brad Garlinghouse said in a post on X that the company “is applying for a national bank charter” from the Office of the Comptroller of the Currency (OCC). Read more
The mining companies opened sharply higher on Thursday after US nonfarm payrolls surprised to the upside. Crypto mining stocks logged strong weekly gains, despite a pullback on Thursday, in a rally fueled by signs that a favorable macroeconomic backdrop could support the US Federal Reserve’s soft-landing narrative. Shares of Riot Platforms (RIOT), Hive Digital (HIVE), Hut 8 (HUT8), MARA Holdings (MARA), and Bitfarms (BITF) surged between 13% and 28% over the past four trading sessions, as US markets closed early on Thursday ahead of the Independence Day holiday weekend. In Thursday’s session, investors responded to a better-than-expected US nonfarm payrolls report, though several public mining companies retraced gains. Read more
The Wyoming Senator seeks to end double taxation and add clarity to the tax treatment of crypto staking, mining, and lending transactions. US Senator Cynthia Lummis submitted a draft bill on Thursday, outlining several provisions to overhaul the tax code and exempt certain digital asset transactions from taxation after crypto amendments failed to appear in the budget package. The bill proposes a de minimis exemption for digital asset transactions and capital gains of $300 or less, with a $5,000 annual exemption cap. The Wyoming Senator also outlined provisions to exempt crypto lending agreements and digital assets used in charitable contributions from taxation. Additionally, the bill proposed deferring taxes on mining and staking rewards until the underlying assets are sold. Lummis said: Read more
Lever CEO Jullian Duran joins the Clear Crypto Podcast to explore how using Bitcoin as collateral, rather than cashing out, can create a new path to financial independence. What if you could use your Bitcoin (BTC) to buy a house, fund a child’s education or invest in a new business, without ever selling it? In the latest episode of the Clear Crypto Podcast, the CEO of Lever, Jullian Duran, makes the case for a new kind of financial firepower; using Bitcoin not to cash out, but to unlock opportunity. Duran, who previously worked at Bridgewater and Marathon Digital, said his mission is rooted in personal experience and in the unrealized potential of Bitcoin-rich users who find themselves asset-rich but liquidity-poor. Read more
Growth in companies adding to their ETH treasuries and the acceleration of Ethereum adoption in TradFi could send Ether price to $2,800. Key point: Ether price is showing strength as increasing demand from companies buying and building ETH treasuries accelerates. BitMine Immersion Technologies and Bit Digital recently announced plans to make Ether (ETH) a part of their treasury strategy. Additionally, sports betting company SharpLink Gaming boosted its Ether holdings to 188,000 Ether after the latest purchase of 12,207 Ether in the week ending June 20. Read more