Bitcoin Eyes $100K as Ripple Stumbles: Stablecoin Woes & ETF Delays Rock Crypto Week
Bitcoin bulls charge toward six figures—while Ripple’s regulatory headaches just won’t quit. Here’s what moved crypto markets this week.
The BTC rally: Institutional FOMO or genuine breakout? With whales accumulating and miners hodling, the path to $100K looks clearer than a compliance officer’s conscience. But watch those leverage ratios—nothing tanks a bull market like overeager margin traders.
Ripple’s rough patch: Stablecoin dreams meet SEC nightmares. The ’XRP army’ got fresh ammunition this week—just not the kind they wanted. Delayed ETF hopes and regulatory pushback suggest Brad Garlinghouse’s lawyers will stay busy through 2025.
Meanwhile in TradFi land: Bankers still can’t decide whether to ban crypto or buy it wholesale. Place your bets on which happens first—their adoption or their extinction event.
Market Data
Market Cap: $3.133T | 24H Vol: $82B | BTC Dominance: 61.6%
BTC: $97,337 (+3%) | ETH: $1,849 (+4.2%) | XRP: $2.23 (+2%)
This Week’s Crypto Headlines You Can’t Miss
. Rushi Manche, Movement Labs’ co-founder, was suspended by the team following revelations of a dubious market-making deal, which led to a substantial $38 million token dump.
. Following the aforementioned impressive price rally for BTC, in which the asset gained over $20,000 within a couple of weeks, CryptoQuant laid out the three most likely scenarios to take place by the end of the year. Hint: the bearish one is the least expected.
As the title of this Market Update reads, Ripple faced some setbacks this week. One of them was the refusal of a mega deal to acquire the company behind the second-biggest stablecoin, Circle. Citing people familiar with the matter, Bloomberg said the offer of around $5 billion was too low.
. The second didn’t come as such a big surprise to the community. Staying true to its tactic with the first BTC and ETH ETF applications, the US SEC delayed making a decision on Franklin Templeton’s XRP ETF proposal. Bitwise’s Doge ETF had a similar fate. The new deadlines are set for June 17 and June 15, respectively.
. Speaking during this week’s mega conference in Dubai (Token2049), Arthur Hayes said the real bull market is just getting started. He advised people that “it’s time to go long everything.”
. Perhaps following the advice from BitMEX’s former CEO, BTC whales went on a massive shopping spree in recent weeks, acquiring roughly $4 billion worth of the asset.
Charts
This week, we have a chart analysis of Ethereum, Ripple, Cardano, Hype, and Solana – click here for the complete price analysis.
