🌥  Mixed trading conditions on the crypto market lie ahead, with a timid sun shining over Bitcoin, Dogecoin and Uniswap in the next 24 hours, signaling slightly bullish market conditions. Drizzle or rain will fall over Ether, Solana, Cardano and Litecoin, indicating bearish market conditions.

The trading signals available at 08:40CET are the basis for the projections mentioned above. Please check whether ATTMO's signals have changed since then, before making an investment decision.

Cryptocurrencies trade lower, while Standard Chartered expects Bitcoin at ATH next month

The cryptocurrency trend was negative over the past 24 hours, as seized Bitcoins continue to be offloaded to crypto exchanges. Yesterday, the German government offloaded an additional 832.7 seized Bitcoins to centralized crypto exchanges such as Kraken and Bitstamp, Lookonchain reports.

On Monday, it transferred 1,500 Bitcoins. The German government still holds a total of 43,859 Bitcoins worth $2.7 billion at today’s price.

The price of Bitcoin dropped 2.8 percent to $61,146 over the past 24 hours, Trading View’s Bitcoin chart shows. It now trades 17 percent below its all-time high of $73,628.

Standard Chartered foresees its price hitting an all-time high next month and trading around $100,000 by November when the US presidential elections are held, $150,000 by year-end and $200,000 by the end of 2025, the Block reports.

Bitcoin ETFs hold roughly 5% of Bitcoin’s total market cap

The assets under management in the 11 spot Bitcoin exchange traded funds (ETFs) listed in the US since mid-January now represent almost 5 percent of Bitcoin’s total market cap, CCData reports.

BlackRock’s $IBIT ETF alone has drawn nearly $17.64 billion in assets since Jan 11, capturing over 1.5 percent of Bitcoin’s market cap and setting it on the path to potentially becoming the fastest-growing ETF in history, according to CCData.

Spot ETH ETFs likely to be trading by mid-July – Bloomberg

The eight spot Ether ETFs approved by the SEC at the end of May now only need the US regulator's approval of their listing registration to start trading. Given the constructive feedback granted by the SEC to the asset managers vying for Ether ETFs, their listing is likely by the middle of July, Bloomberg reports.

The price of Ether fell 2.7 percent to $3,383 over the past 24 hours.

Binance US doubts SEC has the authority to make charges against it

Last Friday, a US court confirmed that the SEC lawsuit against Binance’s US operations will continue. The US regulator charged Binance US (and Coinbase in a separate case) for violating US securities rules in June 2023.

“We remain confident in our position that the SEC’s case is unsupported by the facts or the law, and that the Commission lacks the very authority it is seeking to wield in bringing its action against us. We believe this position will be validated by the Court in due course,” Binance US commented.

Last November, Binance reached a separate deal with several other US government agencies, including the US Department of Justice and the Treasury. The world’s largest crypto exchange then agreed to pay a $4.3 billion fine for breaking anti-money laundering rules and violating sanctions.

The price of Binance Coin lost 2.3 percent to $568 over the past 24 hours.

US Congressman hopeful Supreme Court ruling will curb SEC’s power

The Republican Congressman Tom Emmer is confident that the US Supreme Court’s “Chevron ruling” announced earlier this week will significantly curb the power of the SEC. The country’s highest court then overturned the decade-old “Chevron” principle that has enabled federal regulators, including the SEC, to interpret unclear rules.

“The Supreme Court’s decision to overturn Chevron deference kneecaps the regulatory abuses of Gary Gensler [the SEC’s Chairman] and every other unchecked, unelected bureaucrat who legislates-by-rulemaking.,” Emmer commented on X.

Robinhood considers offering of crypto futures- rumors its legal head could replace Gensler

The crypto exchange Robinhood plans to offer crypto futures in both Europe and the US, Bloomberg reports.

Separately, there are rumors floating around that its Chief Legal Officer, Dan Gallagher, could replace Gary Gensler as the Chair of the SEC in a Trump administration, the co-founder of the ETF Instittute, Nate Geruci, said. Gallagher is a former SEC Commissioner.

Fed minutes likely to impact the market

The release of the minutes of the Federal Reserve's June meeting due later in the day could move the crypto markets if these offer hints on the central bank's rate projections.

DISCLAIMER

ATTMO, a weather-inspired AI tool, makes cryptocurrency predictions. It also forecasts longer-term cryptocurrency trends. These forecasts are not trading advice; they are only decision support tools. They do not include information that is specific to the user; in particular they do not account for their personal risk appetite or market assessment. The forward-looking weather-inspired predictions part of this report may have changed by the time you read this edition of ATTMO Times. So always check the latest ATTMO predictions before making any investment decision.