Hello, Asia. Here is what is news on the markets:
Welcome to the morning briefing in Asia, a daily summary of the best stories during the hours and an overview of market movements and analyzes. For a detailed overview of the American markets, see the Americas of the Coindesk Crypto Daybook.
Bitcoin
Negotiate over $ 105,000 while Asia is starting its commercial week. The largest digital active in the world remained relatively stable over the weekend, with a movement of 0.4%, and the commercial volume was compressed.
Although the overall market conditions remain optimistic, a new Cryptochant report suggests that certain measures indicate that the BTC market is “overheating”.
The report shows that the Bitcoin request has increased to 229,000 BTC in the last 30 days, approaching the December 2024 peak of 279,000 BTC. At the same time, the sales of whales increased by 2.8%, a pace which often signals a slowdown in accumulation.
These indicators suggest that the current rally, which pushed the prices to a record of $ 112,000, could approach a short -term summit.
The report highlights $ 120,000 as the next level of major resistance, linked to the upper strip of the traders made by the price, where the unpaid profits would reach 40%, a threshold which has historically marked local summits.
While “the cryptotic bull’s score” index remains solid at 80 years, signaling an increased continuous dynamic, the increase in beneficiary margins and the growth in picing demand suggest that traders can be confronted with a consolidation period before the light leg.
New rounds:
James Wynn is liquidated, but says he will perform it all ”
James Wynn, a renowned trader for his aggressive bets and raised on the hyperliquidal, was entirely liquidated, leaving him only $ 23 in his account after having undergone more than $ 17 million losses, Coindesk reported.
Wynn, who drew significant attention with transactions involving bitcoin, mecoins like Pepe and even obscure tokens such as Fartcoin, first faced a lowered drop in a massive position of $ 1.25 billion on the BTC, causing a loss exceeding 37 million dollars after prices decrease below 105,000 geopolitics.
Throughout the volatile month, Wynn quickly traveled the professions, briefly causing an unable to gain $ 85 million before the market swings tried it completely. An account associated with Wynn has minimized the dramatic liquidation, declaring with challenge on X: “I will make it go back, I always do it. And I will appreciate doing it. I like to play the game. I took a big and calculated bet to make billions.”
Brazil Méliuz shares flow 8% after announcing an increase in shares of $ 78 million to buy bitcoin
The Brazilian fintech Méliuz plans to raise up to $ 78 million thanks to a public equity offer, intended to allocate all the benefits to the purchase of Bitcoin and to position the cryptocurrency as a main strategic asset in its treasure, previously reported Coindesk.
However, Méliuz’s strategy has not yet impressed the market, as stocks have dropped by more than 8% after the announcement. The initial offer includes 17 million ordinary shares, with the potential to expand up to 51 million, and investors will receive subscription mandates allowing future share purchases at fixed prices.
Known for its rest platform and financial services serving more than 30 million users, Méliuz currently holds 320.2 BTC, having already committed 10% of its cash reserves in Bitcoin in March. The trade in subscription mandates should start on June 16, with the actions settlement and the program of the mandate finalized on June 18.
NYC’s controller rejects Mayor Adams’ ‘Bitbond’, warns that the dollar gap could undermine the reputation of the city’s credit
New York controller Brad Lander brutally criticized the mayor Eric Adams to issue municipal obligations supported by Bitcoin, labeling the proposed “bitbond” as “legally doubtful and fiscally irresponsible”, reported Coindesk previously.
Lander rejected the idea only a few days after Adams introduced it to a Bitcoin conference in Las Vegas, stressing that the instability of cryptocurrency makes it unsuitable for funding critical cities such as infrastructure and affordable housing.
Mayor Adams has actively promoted cryptocurrency initiatives since his entry into office, in particular by converting his own payroll checks into digital assets and by establishing advisory advice on digital assets.
However, the Lander controller has highlighted serious practical concerns concerning the Bitbond proposal, noting that federal tax laws and the city’s financial regulations would make the proposal impossible and warned that the difference in the reputation of municipal loan based on the dollar could undermine the confidence of investors and New York credit reputation.
Market movements:
- BTC: Bitcoin showed resilience, organizing a V -shaped recovery between $ 103,813.37 and $ 105,305.75 in the midst of notable volume peaks.
- ETH: Ethereum formed a bullish reversal scheme, bouncing solid support for $ 2,472.84 to $ 2,527.53 in the middle of high volume purchase, according to the Bot Insight on the Coindesk market.
- Gold: Gold climbed from 0.6% to $ 3,311.66, while merchants weighed up its recent recovery from record sum heights against current investors and the appetite of the Central Bank drawn by uncertainty on American prices and broader economic risks.
- Nikkei 225: The Nikkei 225 of Japan dropped by 0.89% while the markets in Asia-Pacific exchanged mixed following the announcement by Trump of increased steel prices.
- Future S&P 500: The term contracts on shares have lowered Sunday to start June after the strongest month of the S&P 500 since November 2023, in the midst of uncertainty on the prices of President Trump after the recent decisions of contradictory courts.
Elsewhere in crypto:
