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This rebound has pushed into a zone where seller defense could strengthen around 72-73. Momentum is fading and extension looks less convincing. If this area rejects, a corrective move toward 69, 66, and potentially 60.5 could follow.
$BSB — This thing fell from 2.73. Nobody's forgetting that.
🔴Short $BSB
Entry: 0.452 – 0.455
🗯️SL: 0.482
▶️TP1: 0.420 ▶️TP2: 0.380 ▶️TP3: 0.320
♨️This rebound is walking straight into the sellers who got wrecked on the way down. Absorption is likely here, not breakout. If it rejects, 0.38 is the next real stop.
Bitcoin (BTC) has been trading sideways for the last 24 hours, since falling near $61,000 yesterday.
More interesting action is in the altcoin space right now. While most of the large names, such as ZCASH and HYPE, are the biggest losers in the last 24 hours, one name that stands out among the outperformers is Morpho. The token MOPRHO is up about 14%, outpacing most altcoins, according to CoinDesk data.
Yesterday, the blockchain-based lending protocol said it raised $175 million in a funding round co-led by Paradigm, a16z crypto and Ribbit Capital. The funding comes at a time when most crypto projects are treading water amid the bear market.
What's interesting about the raise is that Morpho operates an open credit network that allows institutions and fintech firms to build lending products on blockchain rails. The $175 million in backing is a bet that all of Wall Street will eventually move credit products onchain.
This raise is likely another signal that TradFi doesn't care what the market is doing. They see the potential of blockchain technology, and they will continue to build for the future, bear market or not.
And that's the difference between what the real "Wall Street taking over crypto" looks like and what crypto degens thought it would be. They aren't buying everyone's bags; they are carefully betting on the future.
$SOL Solana Institute CEO Kristin Smith has urged the U.S. Senate to preserve developer protections in the CLARITY Act as more than 200 crypto firms and organizations push for the bill to advance before August.
Commenting on the legislation’s progress, Smith said in a June 9 thread on X that the bill has a realistic chance of advancing through the Senate, making it important for lawmakers to preserve protections for open-source developers and blockchain infrastructure providers.
Citing an industry-backed letter, Smith said more than 60 crypto founders and executives, including Solana co-founder Anatoly Yakovenko, urged senators to maintain strong protections for software developers within the bill.
She argued that open-source developers, validators, and non-custodial wallet providers do not take custody of user assets or execute transactions on behalf of customers and therefore should not face the same regulatory treatment as brokers or custodians.
Her remarks come as support for the CLARITY Act grows across the digital asset industry.
According to crypto advocacy group Stand With Crypto, more than 200 crypto companies and organizations recently sent a separate letter to the Senate urging lawmakers to bring the legislation to a floor vote without delay. The coalition said the bill had already undergone months of bipartisan negotiations and should now proceed to formal debate.$BTC