Blockzeit

FLOKI started Monday with a 20% hike.Other mainstream dog-themed coins, Dogecoin (DOGE) and Shiba Inu (SHIB), had their price movements tethered to Bitcoin (BTC).DOGE creator Billy Markus criticized the crypto market as he called it a “rigged casino with mostly dumb people.”
Major Price Action in FLOKI
FLOKI’s price just pumped by over 20% within the past 24 hours from a $0.0002353 low to a 0.0002846 high. As of 12:00 noon this Monday, the dog-themed meme coin’s value remained above 12% at $0.0002796. The last time it peaked this high was last Thursday.
The “people’s crypto“ clearly outperformed its mainstream counterparts, namely Dogecoin and Shiba Inu. The two only exhibited nearly 5% price movements within the same period.
FLOKI Team Teases a New Announcement Next Week 
Hours ago, FLOKI’s account on X (formerly Twitter) teased an announcement on June 10within its ecosystem. This apparently caused a surge in interest for the token, which skyrocketed its prices.
The developers of the token with the recognizable Viking dog logo are currently mum on the nature of the announcement. It should be noted, though, that the upcoming one comes hot on the heels of the FLOKI trading bot’s closed beta mainnet launch on Telegram.
The FLOKI team described its new trading bot as an “innovative multi-chain Telegram on-chain trading bot designed to provide a seamless trading experience.”
The trading bot charges a 1% for its users. It utilizes FLOKI as its main utility token.
The FLOKI group added that 50% of the fee contributes to the token’s burn rate while the other half is directed to its treasury. This feature somehow serves as a double-edged sword, enhancing FLOKI’s utility while boosting its deflationary mechanics.
The FLOKI trading bot’s closed beta will run for two weeks after its launch on May 28. With that in mind, could next week’s announcement be related to it?
June 10 is about two weeks since the trading bot’s closed beta introduction.
DOGE Creator Criticizes the Crypto Market
Amid all this excitement revolving around FLOKI, DOGE creator Billy Markus, a.k.a Shibetoshi Nakamoto on X, just fired a potshot on the overall cryptocurrency market. His recent remarks came in response to the comments of popular non-fungible token (NFT) artist and collector Nate Alex.
Alex said it’s hard to care about crypto because it “feels like a rigged casino.” Markus immediately confirmed this, echoing the NFT artist’s sentiment. To add salt to the wound, the DOGE personality further stated that the crypto market is mostly made up of dumb people who live-action role-play (LARP) as smart people.

Bitcoin price hovered around $67,939 during European business hours on FridayBlackrock BTC ETF (IBIT) breaks $20 billion, becoming the fastest-growing ETF in history to hit that figure in under 1,000 days.Blackrock inches closer to overtaking Grayscale in Bitcoin holdings.
Bitcoin price analysis: Investors are alert as Bitcoin threatens to break out of a key market structure. Bitcoin price today is $67,939, which represents a 0.3% increase in 24 hours and another 1.1% increase in 7 days as per Coingecko data.
Bitcoin Price Statistics
Bitcoin Market Cap Dominance: 50.3% ⬆Bitcoin Market Cap: $1.338 trillion ⬆Total Supply: 21 millionCirculating supply: 19.705 million ⬆
Bitcoin Price Analysis: Bears Delay Pump, But $75,000 Still in Sight

BTCUSDT Chart by Tradingview
Last week, Bitcoin price portrayed classic textbook retested after breaking out of the three-month falling wedge chart pattern. The price of the asset was expected to bounce back up and make $82,000.
The price sustained above the 50-day and 200-day simple moving averages, hinting at a bullish market sentiment.

BTCUSDT Chart by Tradingview
This week, the Bitcoin price 4-hour chart shows signs of an impending breakout. The price is still trending above the two moving average indicators, confirming the bullish bias.
BTC price has also been posting higher lows since the beginning of May, forming a consistent steady uptrend. As long as the price action stays above the trendline, Bitcoin will continue to be bullish.
Currently, BTC is at a point of decision-making since it is at the end of the descending triangle. While this chart pattern mostly results in bearish plays, it sometimes resolves in an explosive upward breakout. 
If BTC’s price breaks to the upside, it could rise as high as $77,000. However, along the way, there are key resistance points around $70,000, $71,000, and $74,000. In an inverse scenario, Bitcoin may find support around $66,000, which has been tested twice in the past two weeks.
Blackrock’s BTC ETF Hits $20 Billion in Record Time
Blackrock, the trillion-dollar U.S. asset management firm has been accumulating Bitcoin rapidly since the ETF received approval in January. As of April 30, 2023, Blackrock was just 15,000 BTC shy of overtaking Grayscale in the Bitcoin holdings. 
In the meantime, the Blackrock spot Bitcoin ETF (IBIT) just hit $20 billion, becoming the fastest-growing ETF in history to hit that figure in under 1,000 days.
These metrics suggest a growing Bitcoin adoption that may soon transform into an explosive Bitcoin price. 

$BTC

IOTA’s Partnership with LINKS
The IOTA Foundation successfully implemented its decentralized identifier (DID) mechanism in September last year. The organization conceived the novel infrastructure called “IOTA Identity” in 2018.
Today, $IOTA  announced a new feature for the DID, which it formulated under its long-term partnership with the LINKS Foundation. The collaboration leverages LINKS’ ZKryptiumlibrary to integrate selective disclosure credentials to IOTA Identity. This will let users preserve their privacy by enabling them to choose only parts of the credentials that they wish to share with verifiers.
SSI and Selective Disclosure
The IOTA Identity Working Group aims to offer users self-sovereign identity (SSI). The protocol empowers them to share only parts of the information required by the recipient. Cryptographic or zero-knowledge (ZK) proof primarily governs and protects the data sharing between the transacting parties.
For example, if the requesting party only wants to verify the age of the user to ensure their compliance with age-restricted services, the selective disclosure mechanism prevents a document such as a national ID from displaying more than what the verifier is asking for.
In this case, only the name and birthdate will be provided to fulfill the requirements and establish authenticity. The recipient will not see unnecessary details like the user’s address, ID number, and birthplace using the mechanism.
Of course, the aforementioned example only illustrates a simple use case for the technology. With such a feature, users can also prevent malicious verifiers from obtaining or recording their meta-data within a transaction.
SD-JWT and BBS+-based Selective Disclosure Credentials
IOTA and LINKS designed the Selective Disclosure JSON Web Token (SD-JWT) to go with the SSI model. It requires the issuer to determine which fields of the credentials a holder can share.
SD-JWT separates each important field into data packages and conceals it through a cryptographic hash. At this point, the issuer can optionally place decoy values to make the masked information less predictable to malicious observers.
The user can then use SD-JWT to reveal concealed values to verifiers as needed. However, it should be noted that areas not hidden by the issuer are always available to verifiers.
Meanwhile, the BBS+-based Selective Disclosure Credentials serves as an alternative to SD-JWT. This allows the user to conveniently make predefined combinations of disclosures. However, the feature is still experimental at this stage.
Future Plans for IOTA Identity
IOTA and LINKS plan to gain leverage from the project’s latest progress to arrive at a more stable version of IOTA Identity’s ZK-based selective disclosure credentials. The two look forward to further optimizing user privacy and autonomy through future developments.

What is X Payments?
To date, details about X Payments remain under wraps. Even the upcoming platform’s social media profile, @XPayments, has yet to release a single post.
However, hints from Elon Musk, as well as insider information and speculations, suggest that it will serve as X’s dedicated payment system—as its name implies. It is hyped as a crucial element in the transformation of X into an “everything app.”
Despite its strict code of silence over the matter, X has already acquired money transmitter licenses across 26 states in the US.

X Payments Approval (Source: Nationwide Multi-State Licensing System or NMLS)
X Payments’ Dogecoin Support
Among X Payments’ plethora of features include support for cryptocurrency payments for mainstream coins like Bitcoin (BTC) and Ethereum (ETH). Dogecoin’s inclusion is also a major possibility for several reasons.
First, Musk has been very vocal in his support for the dog-themed meme coin over the years. This even led to Tesla accepting DOGE as payment for some of its merchandise. Then, there’s a strong likelihood that the automaker will extend the support for the crypto in the purchases of its electric vehicles (EV), too. Furthermore, the billionaire entrepreneur has confirmed in the past that his group of companies will not be developing their own cryptocurrency.
Therefore, it stands to reason that the adoption of DOGE makes perfect sense for X at this rate.
Dogecoin Now
Dogecoin tends to ride in the coattails of Bitcoin. With the lack of key price actions in the world’s leading cryptocurrency by market cap, not much can be said regarding the meme coin’s current movements.
Not even the impending verdict on spot Ether exchange-traded funds (ETFs) in the US is significantly affecting the prices of Bitcoin and mainstream altcoins. It seems everyone has taken a wait-and-see approach regarding the subject up to this point.
As of today at 5:35 AM, DOGE is trading around the $0.15 range, which shows only more than a 1% loss in its price over the last 24 hours. The trading volume of the OG meme coin also rose by only 13.60% within the timeframe as $841.68 million worth of DOGE moved between wallet addresses.

DOGE to USD
Zooming out the charts, however, reveals DOGE’s strong recovery in the past seven days. The crypto is still 10% up within this period as its prices moved between the zone just above $0.13 and a bit below $0.16 during the week.
DOGE appears to be mainly mirroring Bitcoin and Ether’s trajectories for now. This is despite the anticipation of its potential adoption in X Payments and Tesla. Nonetheless, it’s just a matter of time until an announcement from Musk or X could turn the dog into a bull.

Bitcoin price just confirmed a falling wedge pattern on the daily chart.Falling wedges are known to have a 62% probability of breaking to the upside.The price of Bitcoin today is $66,124, which represents a 0.2% increase in the past 24 hours and a 4.9% increase in the past 7 days.U.S CPI data fell to 3.4%, which means economic stability, a good indicator for Bitcoin and cryptocurrencies.
Bitcoin Statistics
Bitcoin Market Cap Dominance: 52.1% ⬆Bitcoin Market Cap: $1.297 trillion ⬆Total Supply: 21 millionCirculating supply: 19.699 million ⬆
Bitcoin marketcap dominance increased to 52.1%, coinciding with red days for the majority of the altcoins. This means investors are dumping their altcoin bags for BTC, but this could change soon as the bull market fully matures.
Previous Bitcoin Price Analysis

BTCUSDT Chart by Tradingview
Last week, Bitcoin price was firmly below the 50-day simple moving average (SMA) showing signs of weakness after failing to break above this indicator. 
We expected the price to fall lower on account of this resistance. The 200-day SMA would provide the heaviest support at $52,000.
However, fundamental news this week slightly changed the trajectory of Bitcoin’s price action and for the first time in 3 weeks, the price closed above the 50-day SMA.
U.S. CPI data came in at 3.4%, which is lower than last month’s record. This signals a slowdown in the rate of inflation and consequently forecasts a stabilizing economy.
Following this news, the Dow Jones Industrial Average Index (DOW) crossed the 40,000 mark for the first time ever. Bitcoin price also showed some strength on this news, surgeon 8%.
Falling Wedge Signals A Possible Upside In a Few Weeks

BTCUSDT Chart by Tradingview
Bitcoin price is now firmly in a falling wedge, with the 50-day SMA lodged in the middle of the chart pattern.
We expect the price of the asset to continue falling in the short term and in a tight formation until the $52,000 mark. This could happen in the remaining days of May and possibly early June. 
As usual, all technical analysis is usually correct assuming all factors remain constant. However, if there was to be market-disrupting news, whether positive or negative, it would invalidate most TAs.
On the upper side, when Bitcoin breaks out of the falling wedge, there is a weak overhead resistance at $67,500 and $73,794 (the current all-time high). After that BTC can surge to highs of $82,924.
For the coming week, we expect  Bitcoin to correct lower in a bid to fill out the falling wedge. Hence, traders who short Bitcoin can make some profits this coming week.

#bitcoin

The IOTA Foundation just announced the launch of its public testnet. This serves as a culmination of the organization’s efforts to transition from its dependence to a Proof of Work consensus mechanism in favor of Proof of Stake. The update also introduces the innovative decentralized congestion control mechanism of IOTA to do away with the Coordinator.
The testnet rollout brings a lot to the table in paving the way for the next evolution of the IOTA ecosystem. These include:
1. True Decentralization
The earlier version of IOTA is managed by a centralized entity called the “Coordinator.” It is a node plug-in that sends signed blocks referred to as “milestones.” The milestones are trusted by the nodes, hence, the blocks they directly or indirectly reference to are instantly deemed confirmed and used to reach a consensus.
IOTA 2.0’s PoS system also replaces the Coordinator with a Validator Committee. This way, network control is no longer just concentrated within centralized figures. Instead, it is democratized across stakeholders operating as validators within its ecosystem.
2. Enhanced Sustainability
The PoW model has always been a subject of criticism for its energy-intensive requirements. PoS allows IOTA to have a more sustainable operation that aligns with its foundation’s eco-friendly goals. Along the way, it also offers better scalability and increased efficiency in its network.
These are essential aspects of the update as several organizations and businesses are now partnering up with IOTA. In addition to the advanced technologies the platform brings, it’s important that its products and services harmonize with the sustainability goals and regulatory compliance processes of its partners, too.
3. Better Security
The PoS consensus model reinforces IOTA’s high security standards. This element ensures the integrity of the system. It is also crucial in maintaining the trust and confidence of all actors within the IOTA ecosystem.
Why These Things Matter
IOTA’s latest development comes at an opportune time when blockchain and cryptocurrencies are now experiencing a broader adoption in different sectors. The Foundation itself has been at the forefront of this revolution as many industries have recently been unlocking various use cases of its technology.
Among the popular projects globally involving IOTA include:
The Trade Logistics Information Pipeline (TLIP) that simplifies the cross-border exchange of trade documents via tokenization.Collaboration with Tokeny for the convenient issuance, transfer, and distribution of securities using digital ledger technology (DLT).Tokenized KYC that integrates proof of identity documents to the blockchain to unburden developers and businesses from the often complex Know Your Customer regulatory requirements.Membership in the TradeTech Global Initiative that aims to harness the true potential of the merger between artificial intelligence (AI) and the Internet of Things (IoT).

According to on-chain data from Blockchain.com, the first to empty its funds after 10 years was the wallet with the address “16vR…jzEa.” It was seen moving 500 BTC to “bc1pt…k72n,” which incurred a fee of 2.8K Satoshis (Sats) equivalent to $1.74. This just leaves it with 0.00061361 BTC valued at $37.
The other wallet with the address “1DUJ…gfC5” displayed the same amount of outgoing funds to “bc1p…anwp” with a fee of 2.8K Sats or $1.72. Only 0.00061361 BTC amounting to $37 was left following the activity.

Bitcoin Whale Transfers on Sunday (Source: Blockchain.com)
Several circumstances have left observers to believe that the two wallets may belong to a single owner or entity. First, the amount and time of the outbound transfers appeared to be synchronized. The transactions happened within less than an hour at the 843,131 and 843,133 block heights. Second, their origins could be traced back to September 12 for 1DUJ…gfC5 and September 13 for 16vR…jzEa in 2013. These came at a time when Bitcoin was priced at $134.
It’s not clear if the movements constituted a sale or merely a transfer to two other wallets belonging to the same owner or entity. But then again, a closer examination of the funds’ destinations reveals that the addresses in question are still holding the same amount of Bitcoin, minus the fees that were collected along the way.
Bitcoin Now
As of this writing at 6:30 AM UTC on Monday, one unit of Bitcoin trades at around $62,000. This shows roughly a 0.3% gain in the 24-hour chart. Meanwhile, the transaction volume during the same frame is up by approximately 34% as $17.37 worth of BTC moved between addresses while the market fluctuated between a $60,632.60 low and a $61,818.15 high.
The same period has pushed down the market cap of the 19.698 million Bitcoin in circulation to $1.21 trillion. This allowed Meta Platforms (formerly Facebook) to overtake the digital asset by a narrow $2 billion in the Top Assets by Market Cap rankings. Today, Bitcoin conveniently sits in the 10th place of the list with more than $314 billion lead against Warren Buffett’s Berkshire Hathaway.

Top Assets by Market Cap (Source: CompaniesMarketCap.com)

The US Securities and Exchange Commission (SEC) has filed its reply remedies brief against giant FinTech Ripple. The filing is in response to Ripple’s opposition brief against the regulator’s earlier motion for remedies which determined a total penalty of roughly $2 billion for the tech firm. The document reveals that the SEC has not shifted its position regarding its proposed injunctions and financial penalty against Ripple.
The SEC Maintains That The Court Should Apply The Proposed Injunctions Against Ripple 
The US Securities Regulator had in its motion for remedies filed in March, proposed a “conduct-based injunction prohibiting Ripple from engaging in any unregistered offering of XRP in ‘Institutional Sales’.” According to the SEC, Ripple presents a risk of future securities law violations, warranting a second proposition of an injunction from “participating in unregistered offerings of crypto asset securities.”
However, in an opposition brief filed last month, Ripple challenged the SEC’s injunctive propositions, asking the regulator to justify its call for an injunction by proving “Ripple will likely violate the law in the future.” Ripple maintained that a mere possibility of future violations isn’t enough to warrant injunctive relief.
In Wednesday’s redacted reply brief, the SEC argues that “the court should enter the requested injunctions,” saying that Ripple’s being found liable for a violation that took place over many years is enough indication of its higher likelihood of repeating the violation.
Ripple’s Arguments Against Disgorgement Are Meritless, Says SEC
The SEC had asked the court to order Ripple to “disgorge the ill-gotten gains it received from its violations,” proposing $876 million as a “reasonable approximation of profits causally connected to the violation.” The SEC also calculated a prejudgement interest of $198 million intended to deprive Ripple of the benefit of holding the illicit gains over time. 
Meanwhile, Ripple’s opposition brief claimed a disgorgement is not warranted, since its institutional sales caused “no pecuniary harm” to buyers as the SEC alleged. “The SEC must show that investors suffered pecuniary harm as a predicate for a disgorgement remedy,” said Ripple.
The SEC in its latest filing, has reiterated its position on Ripple’s “pecuniary harm” to investors:
“The SEC has shown that Ripple’s violation—its failure to provide statutorily mandated disclosures about pricing and discounts—caused pecuniary harm because some institutional investors paid more than they would have had they received all required information.”
SEC Maintains Stance on Large Penalty for Ripple
The SEC slammed Ripple with a civil penalty of $876 million—equal to the proposed disgorgement—which the regulator believes suits the “egregiousness of Ripple’s misconduct.”
Ripple replied that its civil penalty “should not exceed $10 million” given that the relevant factors counsel a low penalty and since its case with the SEC is a first-tier case – not involving fraud, deceit, or manipulation accusations.
However, the SEC is convinced that the “low” penalty Ripple demands will be a “slap in the wrist” given the nearly $1 billion it made while violating securities law.
Ruling Expected Between July and September
The SEC vs Ripple case is expected to reach a definitive conclusion this year, with analysts hinting at a ruling between July and September 2024. 
“And now we wait for Judge Torres to rule, somewhere between July – September. Or maybe the parties settle before that. Either way, we shall persevere,” wrote Ashley Prosper, a well-informed XRP community member and analyst on X (formerly Twitter).
“Just waiting for the Judge now,” said pro-XRP lawyer Jeremy Hogan who said he’ll “start watching out for a ruling in July” and be shocked if there wasn’t one by September.
$XRP

A recent filing by JPMorgan Chase to the US Securities and Exchange Commission (SEC) revealed its significant investment in spot Bitcoin exchange-traded funds. According to the regulator’s posting online, the multinational finance company headquartered in New York City owned around 19,228 shares of the financial instrument totaling $758,539 as of March 31, 2024.
The SEC document shows that JPMorgan’s spot Bitcoin ETF holdings were spread across various issuers. These include the following:
11,797 shares of BlackRock’s iShares Bitcoin Trust (IBIT) worth $32,25540 shares of Grayscale Bitcoin Trust (GBTC) worth $216 shares of Fidelity’s Wise Origin Bitcoin Fund (FBTC) worth $1,043845 shares of ProShares Bitcoin Strategy ETF (BITO) worth $4526,530 shares of Bitwise Bitcoin ETF (BITB) worth $26,841
Surprisingly, the firm helmed by CEO Jamie Dimon since 2006 also held 25,021 shares of Bitcoin Depot valued at $47,415. The company is the largest Bitcoin ATM provider in the North American region with over 14,000 locations across the US and Canada.
JPMorgan Chase and Bitcoin
JPMorgan Chase is one of the oldest and biggest banking institutions in the US. It specializes in offering asset management, investment banking, commercial banking, financial services to consumers and small businesses, and financial transaction processing.
Based on its report covering the first quarter of the year, it had $4.1 trillion in assets under management and $337 billion in stockholders’ equity. This makes it the largest among its peers in AUM and market capitalization.
Like most other entities operating in the traditional finance (TradFi) realm like Warren Buffett, the leadership of JPMorgan Chase had an initially dismissive stance toward Bitcoin, and it somehow stubbornly continues to do so. Dimon has notably rained his share of denouncements concerning the digital asset.
Not so long ago, the exec said he would shut down Bitcoin and cryptocurrencies if he were the government because of their tendency to be used in money laundering and other illicit activities. He also referred to the largest crypto asset by market cap as a “hyped-up fraud” and a financial “pet rock” that’s totally a “waste of time” in a speech. Likewise, he called anyone who borrowed money just to acquire it a “fool,” referencing the Greater Fool Theory.
Although we are yet to hear Dimon changing his mind about the asset similar to BlackRock CEO Larry Fink, the Bitcoin haul of his company speaks otherwise. Although JPMorgan Chase’s spot Bitcoin ETF shares are a chump change in its coffers, its mere exposure somehow means a vote of confidence on their underlying asset, BTC.
Furthermore, the latest financial disclosure of JPMorgan Chase to the SEC may only form the proverbial tip of the iceberg. For Bloomberg analyst James Seyffart, the filing only consisted of the long positions the financial powerhouse held up to March 31. It didn’t include other forms of exposure such as shorts or derivatives that the company had undertaken up to that point.

Bitcoin price showed an impressive 15.12% as a recovery from the previous 12% dump.The asset surged back to above $60,000 but it failed to break above the 50-day simple moving average (SMA).BTC price dropped consecutively for three days from Monday 6th to Wednesday 8th before a Trump pro-crypto press conference reversed the losses on Thursday 9th.The price of BTC is $63,066 today, a 3.0% increase in the past 24 hrs and a 6.3% increase in the past 7 days.
Bitcoin Statistics
Bitcoin Market Cap Dominance: 50.6% ⬆Bitcoin Market Cap: $1.240 trillion ⬇Total Supply: 21 millionCirculating supply: 19.696 million ⬆
Previous Bitcoin Price Analysis

BTCUSDT Chart by Tradingview
Last week, Bitcoin price experienced a nasty downfall and broke below the 62-day consolidation range. The price went as low as $56,500. The future was looking bleak for BTC.
However, shortly after, the price of Bitcoin experienced another surge in bullish momentum, and it surged to $65,513.
The 50-day SMA provided resistance for the price and despite some positive news about crypto this week, the price of this asset dropped 6.95% over the span of three days.
On Thursday 9th April, 2024, Donald Trump shilled crypto to his supporters, saying “If you’re in favor of crypto, you better vote for Trump.” BTC and other Trump-related meme coins immediately experienced an increase in price. 
The increase in price was not substantial enough to break above the 50-day SMA. 
Consecutive Lower Highs and Lower Lows Indicate a $50,000 BTC Soon

BTCUSDT Chart by Tradingview
Bitcoin price action has continued to print lower highs and lower lows on the daily chart. This trend is synonymous with a bearish market, and until this market structure is broken, we expect BTC to continue dropping in price.
The probability of breaking above the 50-day SMA is slim since the price action has failed for a second consecutive time now.
Below the price action, the next major support level is the 200-day SMA, which coincides with the $50,000-$52,000 level. 
Actionable Bitcoin Forecast
The coming week may see Bitcoin price drop further down below the previous low of $56,500. Leverage traders can enter shorts with tight stop losses, just in case the market makers decide to flip the script.
A 5X leverage Short position should yield anything between 45% to 100% profit if our $56,500 and $50,000 target levels get hit.
DISCLAIMER: The work included in this article is based on current events, technical charts, company news releases, and the author’s opinions. It may contain errors, and you should not make investment decisions based solely on what you read here.