Recommended readings tonight: 1. The GENIUS Act was passed by the US Senate. What impact will it have on the crypto industry? 2. Bitwise: What is fiat currency? Why are people rushing to buy gold and BTC? 3. How the GENIUS Act shakes the throne of Tether.

Odaily Planet Daily News: According to Onchain Lens monitoring, the "mysterious whale" trader AguilaTrades has closed his 20x leveraged Bitcoin long positions, losing a total of US$15.42 million in two transactions.

Odaily Planet Daily News: At 2:00 a.m. Beijing time on Thursday, the Federal Reserve will announce its interest rate decision and the latest Summary of Economic Projections (SEP), followed by a press conference by Federal Reserve Chairman Powell at 2:30. The market generally expects the Federal Open Market Committee (FOMC) to keep interest rates unchanged at 4.25%-4.5%. The latest Reuters survey shows that 103 of the 105 economists surveyed expect interest rates to remain unchanged, while another 2 expect a 25 basis point cut. In the same survey, 59 of the 105 economists predicted that the Fed will resume rate cuts in the next quarter (possibly in September), while 60% of economists expect two rate cuts this year, which is consistent with the median of the dot plot in March and is relatively consistent with money market pricing, which expects 46 basis points of easing by the end of the year. (Jinshi)

According to Odaily, CoinDesk analyst and Chartered Market Technician Omkar Godbole has noted that Bitcoin's price has returned to the 50-day simple moving average (SMA), which has twice provided support and driven price rebounds this month. This latest test of the SMA offers bulls an opportunity to establish a trend, potentially using the 50-day average as a springboard for a new rally. Conversely, if the support at the 50-day SMA fails, it could trigger stronger selling pressure, leading to a drop below the $100,000 mark. Market analysis suggests that bearish forces are currently dominant. The strength of recent rebounds from the 50-day SMA has been diminishing. On June 5, Bitcoin rebounded over $10,000 from $100,500 after testing the SMA for the first time. However, during the second test on June 17, the rebound was only from $103,000 to $109,000. A doji candlestick pattern formed over the past week also indicates waning bullish momentum above $100,000. To revive short-term bullish prospects, Bitcoin needs to break through the key resistance level at $110,000 with increased trading volume.

According to Cointelegraph, the adoption of stablecoins among U.S. banks and financial institutions is expected to accelerate following the recent passage of new legislation in the Senate. The Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, was approved by the Senate with a 68–30 vote. This bill aims to establish clear guidelines for stablecoin collateralization and enforce compliance with Anti-Money Laundering laws. Katalin Tischhauser, head of investment research at digital asset bank Sygnum, noted that the Senate vote sends a strong positive signal to institutions, bringing the bill closer to becoming law. Tischhauser highlighted that many large banks and traditional financial institutions are planning to integrate stablecoins for payments and settlements. She emphasized the necessity of clear regulatory frameworks and legal recognition of stablecoins as settlement instruments, although initial institutional use may be limited to tokens issued on private blockchains. Emerging crypto policy developments and stablecoin regulations are seen as significant catalysts for the 2025 crypto market cycle, according to Alice Li, investment partner and head of US at crypto venture capital firm Foresight Ventures. During the Chain Reaction X Spaces show on June 3, Li identified policy changes, including U.S. President Donald Trump’s approval of Bitcoin reserves and stablecoin policy developments, as key drivers for Bitcoin's price increase in 2025. Andrei Grachev, managing partner at Falcon Finance and DWF Labs, stated that full Congress approval of the GENIUS Act would integrate stablecoins into the U.S. financial infrastructure. Grachev explained that if issuers begin holding large amounts of Treasurys, stablecoins would transition from niche instruments to key economic players, providing institutions with greater confidence in using them for settlements and payments. Alex Buelau, co-founder of Rayls, a blockchain for banks collaborating with JP Morgan’s Kinexys blockchain infrastructure, remarked that financial institutions using stablecoins have been operating in a regulatory gray area due to a lack of clarity and government guidance. With the new legislation, institutions are expected to capitalize on stablecoin opportunities, particularly in cross-border payments, 24/7 settlements, and enhancing global on-chain liquidity. On June 15, JPMorgan Chase filed a new U.S. trademark application for “JPMD,” fueling speculation about a potential stablecoin offering. The filing included services such as digital asset trading, transfers, exchange, clearing, and payment processing.

Odaily Planet Daily News: The number of initial unemployment claims in the United States for the week ending June 14 was 245,000, which was expected to be 245,000, and the previous value was revised from 248,000 to 250,000. The number of people who continued to apply for unemployment benefits in the United States for the week ending June 7 was 1.945 million, which was expected to be 1.932 million, and the previous value was revised from 1.956 million to 1.951 million. The four-week average of initial unemployment claims in the United States for the week ending June 14 was 245,500, and the previous value was revised from 240,250 to 240,750. (Jinshi)

Odaily Planet Daily News According to market news: Ark Invest, owned by investor Cathie Wood, sold the second batch of Circle shares. (Jinshi)

TL;DR Portfolio Shift: BBVA now recommends that wealthy clients allocate 3%-7% of their portfolios to cryptocurrencies, marking a significant change in traditional asset management. Tailored Strategy: The approach, led by Philippe Meyer, offers conservative to aggressive crypto exposure, primarily focusing on Bitcoin and Ethereum. Risk and Regulation: This advice comes as regulatory acceptance grows, aiming. source: https://crypto-economy.com/bbva-shakes-up-wealth-management-advises-3-7-crypto-exposure-for-clients/

Markets slide as Iran warns U. S. against military action and Israel ramps up Tehran strikes. source: https://www.thestreet.com/crypto/markets/iran-warns-u-s-of-irreparable-damage

Odaily Planet Daily News CoinDesk analyst and chartered market technician Omkar Godbole said that the current Bitcoin price has fallen back to the 50-day simple moving average (SMA), which has provided support and driven price rebounds twice this month. Therefore, this retest of the moving average provides bulls with an opportunity to establish a trend-making the 50-day moving average a springboard for a new round of gains. On the other hand, if the 50-day moving average support is lost, it may trigger stronger selling pressure, causing prices to fall below the $100,000 mark. From the market point of view, the short forces seem to have the upper hand. The recent rebound from the 50-day moving average has gradually weakened: when the moving average was tested for the first time on June 5, Bitcoin rebounded by more than $10,000 from $100,500; while the second test on June 17, the rebound only rose from $103,000 to $109,000. The cross star candle chart formed in the past week also shows that the bullish momentum above $100,000 has become exhausted. To revive the short-term bullish outlook, Bitcoin needs to break through the key resistance level of $110,000 on a large volume basis. (CoinDesk)

رغم حالة عدم اليقين الجيوسياسي والاقتصادي حاليا، خصوصا بعد التصعيد بين الولايات المتحدة وإيران، يشير تحليل حديث إلى أن سعر البيتكوين قد يشهد قفزة كبيرة في عام 2025، ليصل إلى نحو 205000 دولار إذا استمر في اتباع دورة الأداء التاريخية. source: https://arab-btc.net/btc-could-reach-what-in-2025/

Stablecoin, Liu Qiangdong announced the development of stablecoin. Big companies have found a "new gold mine". Golden Finance, cryptocurrency has returned to the mainstream vision as a legal entity.

JD.com, the Chinese e-commerce giant, has announced plans to apply for stablecoin licenses in multiple countries as part of a comprehensive strategy to revolutionize cross-border payments.

China’s central bank announced a new international hub in Shanghai to support the global use of its digital yuan. The move is part of a wider plan to reduce reliance on the US dollar and promote financial innovation through blockchain technology.

Hong Kong, Stablecoin, Interpretation of Hong Kong's new stablecoin regulations: How to reshuffle the industry landscape? Golden Finance, Without trust, innovation will eventually fail!

What is truly scary is not that the technical narrative cannot be delivered, but that everyone simply abandons narrative packaging and fully embraces the MEME-based casino culture.

Stablecoins: Why stablecoin data is harder to understand than it seems Golden Finance: Three misunderstandings about blockchain data analysis

USDT, Stablecoin, GENIUS, Bankless: How the GENIUS Act Shakes the Stablecoin Landscape Golden Finance, the Impact of the GENIUS Act on Tether.

Fileverse has launched dSheets, a new decentralised spreadsheet tool built on blockchain technology. It offers privacy, crypto features, and live collaboration as an alternative to Google Sheets and Microsoft Excel.

Genius Group, a Singapore-based AI education company listed on Nasdaq, has expanded its corporate Bitcoin holdings by more than 50%, reflecting a growing trend of institutional adoption of Bitcoin as a treasury asset.