Bitcoin fell for the fourth straight session of trading, part of a broader cryptocurrency sell-off that contrasted with recent record highs in global stocks.
Bitcoin has fallen as much as 8% in the last 24 hours to its lowest level since February, where it is trading at around $54,000. While other digital currencies, such as Ethereum, XRP, Cardano, Solana, and Binance Coin, suffered greater losses, in some cases exceeding 10%.

The price of Bitcoin has seen a significant decline over the past few hours, falling by 4% over the past 24 hours to reach $58,526. The price continues to move away from its high of $73,835 on March 14.
In the past 30 days, the price of Bitcoin has fallen by $58,388, 15.3%, and has fallen by 13.7% over the past three months. Suggesting that Bitcoin is headed lower in June, this has prompted market analysts to wonder whether the “top of the cycle” has been reached for the leading cryptocurrency.

Cryptocurrency mogul Justin Sun has expressed his intention to buy a huge chunk of Bitcoin worth approximately $2.3 billion. Sun made this bold claim at a time when the cryptocurrency markets were witnessing a major panic, especially from the recent large-scale Bitcoin transactions conducted by the German government.
Governments seize illicit cryptocurrencies through various operations. They then periodically auction off these digital assets, thus introducing selling pressure into the market

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First, let's talk about the power of investing in cryptocurrencies. Many people have made significant profits by investing in Bitcoin, Ethereum, and even some altcoins. However, remember that investing always comes with a degree of risk, so it's important to do your research and make an informed decision.

The proposal distinguishes between decentralized crypto-assets and centrally issued ones like USD Coin, subject to specific regulations.
The project establishes governance mechanisms and licenses for digital assets, reflecting international standards and FATF recommendations.

The ONG Bitcoin Argentina is advocating for a legal framework that defines cryptocurrencies as digital assets, proposing regulations that facilitate operations within the industry. In response to regulatory changes this year, particularly under President Javier Milei’s administration, which introduced stricter controls, the ONG Bitcoin Argentina unveiled a draft law aimed at providing clarity and security for cryptocurrency users and businesses.
The initiative comes amidst calls from industry stakeholders for clearer regulations, prompted by government decisions that sparked criticism and discontent. In a Crypto NEWs Flash post we talked about how the law seeks to establish a secure and transparent environment for cryptocurrency transactions, addressing concerns raised by stakeholders.
According to Article 1 of the draft, the law aims to protect the rights of individuals to develop, acquire, possess, operate, and dispose of decentralized cryptocurrencies such as Bitcoin and Ethereum. These assets would be classified separately from traditional financial assets, reinforcing protections for independent users who may or may not utilize centralized exchanges.
“All people have the right to develop, acquire, possess, have, operate and dispose of, without restrictions, bitcoin and other decentralized cryptoassets and to develop and operate on decentralized service platforms. The law protects the property and rights over crypto assets,” the text states in its Article 1.
The proposal distinguishes between decentralized crypto assets like Bitcoin and Ethereum, which are treated legally as currency without legal tender, and centralized issuance crypto assets like USD Coin (USDC) or Tether (USDT), which would be subject to specific regulations and obligations.
Moreover, the initiative outlines governance mechanisms for each digital asset, crucial for managing cryptocurrencies, public trust, and determining their utility, as we have previously detailed in Crypto News Flash.
Legal advisor Rosendo Gravanago emphasized the need for a foundational law that provides clear definitions and precise regulations, especially concerning whether these assets should be treated similarly to traditional financial instruments.
«The key point is to determine whether we should consider them similar to a traditional financial asset and, if not, what treatment they should receive. It would be necessary to develop a base law that includes more precise and concrete definitions,” said Rosendo Gravanago.
Additionally, the draft introduces licensing requirements for centralized assets, with regulatory oversight designated by the Executive Power. This regulatory framework aims to mirror criteria observed in other countries, such as the United States, where judicial decisions have clarified the application of securities laws to certain assets.
The proposal designates the National Securities Commission (Comisión Nacional de Valores – CNV) as the regulatory body overseeing crypto assets and establishes a Registry of Service Providers (Registro de proveedores de servicios basados en ellos – PSAV), aligning local regulations with recommendations from the Financial Action Task Force (FATF).
Despite some criticism from the Bitcoin community regarding its potential impact on innovation and individual privacy, particularly concerning anti-money laundering and counter-terrorism financing measures, the PSAV registration remains operational with 45 authorized companies, showing minimal disruption to the industry.
If enacted, the ONG Bitcoin Argentina’s draft would establish for the first time clear property rights for decentralized cryptocurrency users. Legally distinct from cash or other forms of traditional wealth, these assets would carry their own classification, ensuring clarity on obligations and regulations for digital wallets and service providers alike.

1.28 Trillion PEPE Exits Binance in Epic Whale Shift
In a significant move that has intrigued the cryptocurrency community, major whale activity was observed as 1.28 trillion PEPE tokens exited Binance. This large transaction was reported by Whale Alert, a prominent blockchain tracker that monitors substantial crypto transfers.
The transaction involved a colossal 1,286,733,285,955 PEPE tokens, valued at approximately $14,745,963, moving from Binance to an unknown wallet.
However, upon closer scrutiny, a detail emerged that added an interesting layer to the narrative. Data from Etherscan suggests that the recipient was none other than a Binance-named address, "Binance 70."

This revelation has led to speculation that the transaction might not be the external transfer it first appeared to be but rather an internal reshuffling of funds by Binance itself.
The identification of the receiving address as an internal Binance address adds a bit of clarity, suggesting that the transaction might be part of Binance's routine operations rather than an external withdrawal by a whale investor.

Despite the substantial volume of the transfer, the price of PEPE has experienced a slight decline, down 1.59% in the last 24 hours. This minor dip indicates that the market has not reacted dramatically to the transaction, possibly due to the internal nature of the transfer.
PEPE price action
Frog-themed meme token PEPE has been experiencing a period of consolidation in recent weeks. After reaching its all-time high of $0.00001722 on May 27, the PEPE price has consolidated, creating a range-bound movement that has kept traders on their toes.
Currently, the PEPE token is hovering below the daily SMA 50 at $0.0000126. A break above this level could be significant for PEPE, potentially signaling the start of a new bullish phase.
Such a breakout would not only signify an exit from its lower price range at the moment but could also ignite fresh bullish momentum, attracting more buyers into the market.
At the time of writing, PEPE was down 1.3% in the last 24 hours to $0.000011.

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Inflation refers to the gradual increase in prices of goods and services over time. This means your dollar buys less today than it did yesterday. The Federal Reserve, America's central bank, targets a low and stable inflation rate, around 2% annually.
How is Inflation Measured?
The Consumer Price Index (CPI) is the primary gauge of inflation in the United States. It reflects the average price change for a basket of goods and services typical American households purchase. The Bureau of Labor Statistics calculates the CPI monthly.
Recent Inflation Trends
After a period of low inflation, the US experienced a surge in 2021 and 2022, reaching a peak of over 8%. This was attributed to supply chain disruptions and pandemic-related economic stimulus measures. As of May 2024, inflation has moderated to around 3.3%.
The Impact of Inflation
Inflation can erode purchasing power, reducing the value of your savings. It can also lead to uncertainty and impact business decisions. However, some moderate inflation is considered healthy for economic growth.
The Federal Reserve's Role
The Federal Reserve combats inflation by raising interest rates, which can slow down borrowing and spending. Conversely, the Fed lowers rates to stimulate the economy during economic downturns.
The Future of Inflation in America
The future trajectory of inflation in America remains uncertain. The Federal Reserve's monetary policy decisions, global events, and supply chain dynamics will all play a role.