Morning Minute: Standard Chartered Says Crypto Winter Is Over

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Today’s top stories:

• Crypto majors jump over the weekend on the progress of the Iran peace deal; BTC at $66.5k, HYPE + 12%
• BTC ETFs see a lot of money entering the month on Friday, and then pull back
• ZEC is up 20% after Zooko announced that the Mythos audit found no problems
• AERO jumped 15% after raising Predictive Allocation
• Crypto collector offers $4M airdrop, token becomes $70M

🌱 Standard Chartered Says Crypto Winter Is Over

In a statement on Friday, Standard Chartered’s head of digital research, Geoff Kendrick, he wrote that slide Bitcoin to about $59,000 on June 5 signal cycle low.

His words: “Winter is over. Welcome back to crypto spring.” The bank is working on a final target of $100,000, about 70% above current levels, and expects that Ether will beat Bitcoin on the way up. He said that the decline is in progress and even drop the current price since everyone would like to take it. Looking back from the end of the year with Bitcoin at $100k, “This was the shopping center we all wanted.”

Geoff is right?

Well, the three overhangs that have been grinding crypto throughout the weeks are starting to lift at the same time.

• The first was the SpaceX IPO, which turned out to be liquid when investors (apparently) sold Bitcoin to free up money for the largest offering in history. The deal is now over, the SPCX jumped 19% on Friday, and with the dividend break down, forced ETF sales should disappear.
• The second was the Iran war. Mr. Trump announced on Thursday evening and the US-Iran peace agreement was close to the G7, which dropped oil to $ 81 and its lowest activity since the beginning of March.
• The third was the ETF came out. After about $5 billion in outflows since May, sharp sales since these funds were acquired, money began to flow back on Friday and BTC ETFs saw $85M in inflows for the biggest day in the month, helping Bitcoin recover $64,000.

In addition, it is a real change in implementation. However, it should still play. The drain on SpaceX IPO liquidity could be felt for weeks. It is always difficult to trust peace talks around the Iran conflict. And if the ETF is doing well, it can be volatile.

But it seems like the interest rate is increasing now. BTC is back above $65k. Leading alts jumped 10-20% this week, showing signs of a bullish comeback. Let’s see if it continues…

🌎 Macro Crypto and Markets

• Crypto majors are very green after the new Iran agreement to end the war; BTC +3% at $66,5k; ETH +7% at $1,780; SO + 7% on $ 73; HYPE + 12% on $ 68
• ZEC (+28%), WLD (+23%), and NEAR (+18%)
• Oil -5% on $80; Gold +2.8% at $4,358
• The future is very green, with DOW +0.9% and Nasdaq +2%
• The US government ordered Anthropic to pull his Claude Fable and Mythos AI models security risk; Anthropic pushed back, calling it excessive and that the bug was already widespread across the industry.
• ZCash conducted a security audit using Mythos and found no other problems than the one found last week (ZEC +20%)
• Crypto exchange refunds to buyers of SpaceX tokens After xStocks failed to get a stake in the IPO
• A native of Tennessee he was being accused of a crypto Ponzi scheme who allegedly stole millions from investors

Corporate Treasuries & ETFs

Meme Coin Tracker

• Meme leaders he was green; DOGE +4%, SHIB +3%, PEPE +6%, PENGU +8%, TRUMP even, BONK +12%, SPX +6%, FARTCOIN +11%
• KINS (+40%), BURNIE (+ 54%), and Jotchua (+ 24%) led the movers on Solana
• Base movers including Botcoin (+60%), Nock (+10%) and Tibbir (+10%)

📈 Multi Day Market

💰 Token, Airdrop & Protocol Tracker

• Crypt Collector the sky 15M tokens ($4M) for its Q2 rewards (CARDS at $70M)
• Aerodrome released new additionsPredictive Allocation, which rewards funders for anticipating where funds will be needed instead of chasing pools that have already earned fees.

🚚 What is happening in NFTs?

• Directors of NFT they were green; Punks +2% at 33.5 ETH, BAYC +1% at 9.1 ETH, Pudgy +3% at 4.67 ETH; Hypurr’s +5% at 272 HYPE
• NPC (+27%) and Blupets (+37%) led the top movers