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Michael Saylor on Bitcoin's Drop Below $68,000

Bitcoin advocate Michael Saylor remains confident despite Bitcoin falling under $68,000, influenced by macroeconomic factors and a major crypto exchange hack.

• Main Points:

  • Saylor's Confidence: Saylor tweets support for Bitcoin despite the price drop.

  • Macroeconomic Impact: The PCE index rise coincides with Bitcoin's 2.14% decline.

  • Major Hack: Japan's DMM Bitcoin hacked, losing $300 million in crypto.

• Detailed Insights:

  • Saylor's Confidence: Michael Saylor tweeted an AI-generated image, expressing confidence in Bitcoin after it dropped below $68,000.

  • Macroeconomic Impact: A 0.25% rise in the PCE index led to Bitcoin falling from $68,608 to $67,712.

  • Major Hack: DMM Bitcoin was hacked, losing $300 million, the largest crypto hack since 2022.

Related: Bitcoin Sees Best May Since 2019 Despite 3% Price Dip

3 Signs Ethereum Will Break $4K in June

Anticipation of Ether ETF approvals, whale accumulation, and bullish patterns suggest Ethereum could exceed $4,000 in June.

• Main Points:

  • Bullish Patterns: Breakouts from falling wedges and bull flags indicate a price rise.

  • Whale Accumulation: Major whales are increasing ETH holdings.

  • ETF Approvals: Potential SEC approval of Ether ETFs by late June.

• Detailed Insights:

  • Bullish Patterns: Ethereum's breakout from a falling wedge targets $4,255 by June's end, with the potential to reach $6,000 by early July.

  • Whale Accumulation: Whales with 10-100 million ETH have boosted their holdings, with exchange reserves declining, indicating strong holding sentiment.

  • ETF Approvals: Analysts expect SEC approval of Ether ETFs in June, which could attract significant capital inflows and drive ETH's price above $4,000.

Related: Ethereum Set for All-Time High as Ether ETF Launch Nears

Ex-Binance CEO Changpeng Zhao Begins 4-Month Prison Term in California

Former Binance CEO Changpeng Zhao (CZ) has started serving a four-month sentence at a low-security federal facility in Lompoc, California, after pleading guilty to money laundering charges.

• Main Points:

  • Prison Sentence: CZ begins his term at FCI Lompoc after admitting to facilitating money laundering.

  • Legal Penalty: Zhao also faces a $50 million fine.

  • Notable Facility: FCI Lompoc has housed other prominent inmates and maintains stringent security despite its low-security status.

• Detailed Insights:

  • Prison Sentence: CZ, once the head of Binance, has entered FCI Lompoc to serve a four-month sentence following his guilty plea. His legal team confirmed his departure from the facility.

  • Legal Penalty: Besides imprisonment, CZ must pay a $50 million penalty for his crimes.

  • Notable Facility: FCI Lompoc, although low-security, has hosted notable figures like former Boeing engineer Chi Mak and financier Ivan Boesky. It features high security with dormitory-style living arrangements.

Related: Elon Musk: Crypto Can Empower People

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results