Slowing Inflation Data Brings Positive Price Action to Bitcoin

13 Jun

1. The US CPI remained flat in May, beating forecasts and lifting bitcoin prices by nearly 4% on Wednesday: But bitcoin prices quickly retreated on Thursday as traders grappled with the possibility of just one rate cut by the Federal Reserve by the end of the year.
   
   
2. Trump voices support for Bitcoin mining at Mar-a-Lago: President Biden’s campaign also consulted the crypto industry on his digital asset policy.
   
   
3. Gensler confirms spot ether ETFs are coming soon: In a Senate Banking hearing on Thursday, SEC chairman Gary Gensler said he expects spot ether ETFs will begin trading this summer.
   
   
4. GameStop's stock drops 12%, impacting related meme tokens: The dip comes after recent highs and announcements of new share sales and declining quarterly sales.
   
   
5. HSBC Bank's China branch begins offering e-CNY services to corporate clients: It’s the first foreign bank to support the digital yuan to facilitate transactions and asset management.
   
   
6. The ZKsync Association will airdrop 3.675 billion ZK tokens next week: Early users and contributors will receive the distributions, with claims available until January 2025.
   

🗝️ Topic of the Week: Crypto and Retirement Accounts: 401ks and IRAs

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