| Bitcoin Plummets As International Tensions Escalate Bitcoin dropped to $103K after renewed US-China trade tensions and global market volatility. Altcoins like ETH, SOL, and ADA fell up to 9%, while CRO defied the trend, surging 17%. The total crypto market cap also fell to $3.36T. BTC had hit a new high of $112K last week but reversed course after President Trump proposed new EU tariffs and accused China of trade violations. Altcoins saw widespread losses; ETH dropped to $2,500, while tokens like INJ and PEPE posted double-digit declines. CRO's surge, meanwhile, appears linked to platform developments. Elsewhere, Hong Kong saw a wave of IPOs, boosting Asian equities. In the US, the Trump administration plans to ease big bank regulations to spur lending, stirring debate.
Altseason Ahead? Ethereum Crosses Key Threshold Ethereum has crossed the Gaussian mid-line at around $2,600. If momentum continues, ETH could reach $3,200 and possibly $4,100 by July 2025. This breakout resembles previous cycles. In 2020 and 2023, ETH surged dramatically after reclaiming this line, followed by significant altcoin rallies. Analysts suggest a similar pattern may be forming now. The Bitcoin halving in April 2024 adds weight to this outlook. Historically, about 400 days after halving events, Bitcoin dominance drops and altcoins rise sharply. If this repeats, a major altseason could begin within the next 100 days. To maintain its bullish setup, however, ETH must hold above $2,300 and continue climbing toward key resistance levels.
Solana Meme Coin Market Slows Solana’s meme coin market is cooling rapidly, with token graduation rates dropping below 1% since May 22nd. Meanwhile, several platforms like Pump.fun (0.80%), LaunchLabs (0.31%), and Boop (0.14%) are seeing sharp declines, with only LetsBonk (1.32%) performing slightly better. The downturn follows months of hype, now dampened by market saturation, bot manipulation, and investor fatigue. For example, Boop's graduation rate peaked at 6.86% in mid-May but has since collapsed. Pump.fun, once a leader with $3.3B in January volume, has also seen a steep drop amid growing skepticism and weaker project quality. Experts suggest a shakeout may be needed before stronger meme coin projects can thrive again.
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