Quick Weekly Overview
Today, June 3:
- GME stock up 75%
Tuesday, June 4:
- Australia's first spot Bitcoin ETF with direct $BTC holdings to go live on Tuesday
Wednesday, June 5:
- Blockchain Expo North America
Friday, June 7:
- Nonfarm Payrolls for May
- Unemployment Rate for May
Analysis
$BTC has broken above the range high (69k), which is a good sign for bullish continuation.
This week we could see more development for the Ethereum ETF. The SEC's approval of the 19b-4 filings for a spot Ethereum ETF is a significant development. BlackRock and others have updated their S-1 filings, disclosing the fees, and indicating that the ETF could start trading by the end of June or maybe even before.
NVDA stock remains very strong, showing a clear bullish trend. This could affect the crypto AI sector in a good way, especially if $BTC remains bullish.
GME stock just pumped 75% pre-market, now retracing a bit after the stock market has open. This could be good for the memecoins sector.
As mentioned in the previous update, if $BTC stays above $60k (ideally above $65k), altcoins could still give very good returns. With memecoins leading, other interesting sectors should be: AI, RWA, Ethereum ecosystem, Solana ecosystem.
Keeping an eye on OTHERS, OTHERS.D, $ETH/USD and $SOL/USD.
Conclusion
No changes so far. This is a good scenario for a potential altcoin run.
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