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📈 Bitcoin (BTC) Reclaims $70K. Here's Why The Bitcoin (BTC) price briefly reclaimed the $70,000 level following the release of the latest US macro data. This came after business activity in the US manufacturing sector unexpectedly slowed down in May. The ISM Manufacturing PMI experienced a decline to 48.7 compared to 49.2 that was recorded during the previous month. According to analyst Matt Weller, this could be another sign that the US economy could be experiencing downshifting in the second quarter. The drop in the #ISM manufacturing index in May adds to the sense that the economy is losing momentum .. driven by the new orders index falling to a 12-month low. London-based research provider Capital Economics has also noted that the US economy is likely losing momentum. "The drop in the #ISM manufacturing index in May adds to the sense that the economy is losing momentum .. driven by the new orders index falling to a 12-month low," it said. The recent macro data might prompt the U.S. Federal Reserve to speed up the pace of rate cuts. In the meantime, West Texas Intermediate Crude Oil (WTI) futures have now dropped to $75, the lowest level since Feb. 6. 🔸 A short-lived bounce? After briefly regaining the $70,000, Bitcoin has pared some recent gains. This might be due to renewed selling pressure. According to blockchain sleuth Lookonchain, four miners' addresses that had been dormant for over a decade transferred $7 million out shortly after the flagship cryptocurrency surpassed the much-coveted $70,000 level. $BTC #BTC #Bitcoin

⭐️ Chainlink could solve today's NYSE stock market glitch as Berkshire Hathaway appears down 99% Trading on the New York Stock Exchange (NYSE) was abruptly halted today after Berkshire Hathaway’s Class A shares experienced a dramatic 99.97% drop in value. The equity last traded at $185.10, down from $627,214.90. The halt, coded as M, was triggered due to volatility, and the cause of the sudden decline remains unclear. In a related incident, a glitch at the NYSE operator caused volatility trading halts in about a dozen companies other companies, as reported by Bloomberg. This follows a recent pattern of technical issues affecting major exchanges. For instance, on March 18, the Nasdaq faced a three-hour disruption in premarket trading due to connectivity issues with its matching engine, as reported by the Bangkok Post. The DTCC is currently trialing using blockchain technology with Chainlink for faster settlements of mutual funds, but it seems the stock market may need blockchain more than it knew. Chainlink’s decentralized oracle network could address such issues by providing accurate and reliable data feeds. Chainlink utilizes multiple independent data providers to ensure data accuracy and tamper-proofing, reducing the risk of single points of failure common in centralized systems. This decentralized approach enhances security and reliability, which is crucial for trading systems where timely and accurate data is essential. Chainlink’s oracles aggregate data from various sources and use consensus mechanisms to validate information before it is fed into the blockchain. This process ensures data integrity, preventing manipulation or corruption. Additionally, Chainlink can provide real-time data verification, quickly identifying and correcting discrepancies to prevent erroneous trades and price swings. Smart contracts supported by Chainlink can automate responses to certain conditions, such as significant stock price deviations, by halting trading or triggering alerts. $LINK #LINK #Chainlink

🦊 Shiba Inu (SHIB) Saved? Price Makes Unexpected Return Shiba Inu has made a substantial return to the market with a bounce off of the 50 EMA, which has been considered a strong support level for the asset. Luckily, SHIB did not let us down and performed the breakthrough many expected from it. However, there are numerous resistances ahead, so relying on a quick move up might not be the wisest decision. The blue line or 50-day EMA has served as a dependable level of support, giving SHIB the boost it needed to try a comeback. This rebound gives traders hope for a reversal and the confidence essential to stopping the larger decline that began more than a week ago. Another encouraging finding from the moving averages is that SHIB is currently trading above the 100-day EMA. Being above the 100 EMA, which frequently serves as a midterm trend indicator, may indicate that the overall trend is possibly turning more bullish. Still, the 50 day EMA is above the current price and may serve as a level of resistance in the near future. There has been an increase in trading activity during the recent price movements, as indicated by the trading volume bars. This surge in volume can indicate intense market interest and frequently follows notable price changes. But in order to overcome the current barriers and experience a prolonged upward trend, SHIB requires a steady high volume. Furthermore, the RSI displays a value of 50. There is potential for movement in either direction because SHIB appears to be in a neutral zone, neither overbought nor oversold. An increase toward 70 on the RSI may indicate overbought conditions. For now, SHIB is located in the middle and is unlikely to give us any kind of hint about the upcoming move. $SHIB #SHIB

📉 JASMY price dips as DWF Labs moves tokens to Binance 🔸 JASMY dips as DWF Labs sents coins to exchange JasmyCoin’s price soared over the past three days, reaching highs of $0.04 on June 2. However, the token’s value has slipped to $0.034 as latest on-chain data indicates a leading crypto market maker has deposited a huge amount of JASMY to Binance. According to Spot on Chain, DWF Labs has deposited millions of JASMY tokens on exchanges in the past three days. In particular, DWF Labs’s cumulative deposits to Binance over the past three days have reached 97 million JASMY. That’s around $3.3 million worth of the popular token. While the market maker still holds approximately 24 million JASMY worth $841,000, the token’s price has slumped each time the company sent tokens to the crypto exchange. DWF Labs’ liquidation of such a significant holding of the token comes as a contrast to interest in memecoins. The company recently revealed its interest in adding meme coins to its portfolio. “We are in talks with a few meme coins and willing to deploy a large amount of funds in order to let them grow faster and efficient,” DWF Labs managing partner Andrei Grachev said in a post on X. Memecoins, including PEPE and WIF are up as a new frenzy takes hold. 🔸 JASMY price outlook: Can bulls bounce? JasmyCoin price soared earlier this year, breaking above the crucial hurdles at $0.01 and $0.02 on the back of major news. This followed the Japan-based tokenized platform’s announcement of its incubated Decentralized Physical Infrastructure Network (DePIN) project JanctionMGT. JASMY also surged amid reports of a partnership between Jasmy and tech giant Panasonic. However, despite the two companies’ plans around personal data and IoT, prices remained ranged until late last month. On May 30, reports surfaced of a potentially game-changing collaboration and JASMY broke above $0.03. Today’s slight dip after the DWF Labs transfers, the last of which hit Binance within the past 12 hours, may infuse new downside pressure. $JASMY #JASMY

🚀 Terra Luna Classic Plans Major Upgrade The Terra Luna Classic (LUNC) community is gearing up for the much-anticipated v3.0.1 upgrade, set to commence within a few hours. According to community member Bay Diamondhandz1, the upgrade could lead to a temporary suspension of the LUNC chain. 🔸 What Changes Will the Upgrade Bring? This significant upgrade follows a near-unanimous decision by the Terra Luna Classic community. Garnering 99.9% approval from both members and validators, the proposal by the Terra Luna Classic Layer 1 development team, Original Labs, includes major updates like SDK 47 and other essential blockchain enhancements. Despite this positive development, LUNC’s price dropped by 2.95% to $0.0001163 in the last 24 hours, according to data from 21milyon.com. Analysts are puzzled by this decline, as such news usually spurs a positive price reaction. 🔸 Why Is the Market Reacting Differently? Interestingly, the market has shown positive sentiment following an agreement between the United States Securities and Exchange Commission (SEC), Terraform Labs, and Do Kwon. Observers have noted the favorable outlook towards Terra tokens amid this news. According to a new LUNC report, the positive sentiment from the SEC agreement has led to price predictions aiming for a $1 target. The v3.0.1 upgrade protocol will require validators to replace the old binary file with the new one, aiming to enhance the Terra network’s performance and operations. 🔸 Key Insights for Investors – The v3.0.1 upgrade is critical for LUNC’s blockchain improvements. – Market reaction to the upgrade news has been unexpectedly negative. – Positive sentiment is observed due to the SEC agreement involving Terraform Labs and Do Kwon. – Binance‘s support through token burns is significant for LUNC’s price recovery. In its recovery efforts, Terra Luna Classic has seen Binance, the world’s largest cryptocurrency exchange, burn a staggering 1.35 billion tokens as part of its internal LUNC support mechanism. $LUNC #LUNC #TerraLunaClassic

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