More crypto consolidation as Bitcoin Las Vegas gets off to a flyer
📉 Large-caps flat — Bitcoin and Ethereum are holding steady, with BTC dipping slightly and ETH unchanged over 24 hours
📊 Options signal consolidation — Most BTC options activity is concentrated around $110K–$120K, pointing to expectations of range-bound trading in the near term
🧭 Macro data ahead — US economic indicators and Fed guidance in June could shape the next leg of crypto's trajectory
BITCOIN and much of the large-cap crypto market are in a holding pattern, as investors weigh what comes next after last week’s all-time high.
Ethereum (ETH) is trading flat relative to yesterday, while Bitcoin has dipped marginally into the red over 24 hours. Volumes remain solid, though the intensity seen during the record-setting rally has cooled somewhat.
Still, market participants aren’t exactly sitting still. As FXStreet reports, Bitcoin options activity maturing in June and July shows a bias toward calls at strike prices of $115,000 and $120,000. The most turnover, however, has been in contracts expiring at $110,000, a sign that traders expect BTC to consolidate around current levels in the short term.
With macro factors like US inflation data and the Fed’s next interest rate decision on the horizon, June could offer a clearer picture of the global economy’s direction. But for now, attention has shifted to crypto-specific developments, such as those emerging from the Bitcoin 2025 conference in Las Vegas.
Yesterday, Devin Nunes, CEO of Trump Media & Technology Group (TMTG), announced ambitious plans to raise $2.5 billion via equity sales and convertible bonds. The goal is to establish a corporate Bitcoin treasury, echoing moves pioneered by Michael Saylor of Strategy. Also speaking at the event, Vice President JD Vance emphasised Bitcoin’s potential as a tool for financial sovereignty and innovation, themes that continue to resonate with a growing faction of US policymakers.
With the conference wrapping up tomorrow and June’s macro data pipeline just beginning, the next chapter for crypto could be shaped by both market forces and political momentum.
In the markets…
🌍 Total crypto market cap ⬇️
The global cryptocurrency market capitalisation is approximately $3.43 trillion, reflecting a 0.16% decrease over the last 24 hours.
🟠 Bitcoin (BTC) ⬇️
Price: Currently trading at around $108,196 marking a 0.57% decrease in the last 24 hours.
Daily high: Approximately $110,407
Daily low: Approximately $108,616
📈 S&P 500 ⬆️
The S&P 500 index is up about 2.05% since yesterday.
🥳 Fear & Greed Index
The Crypto Fear & Greed Index currently stands at 68/100, indicating “Greed” among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The RSI for Bitcoin is approximately 45, with 70 and above indicating an overbought position, while 30 and below indicates that the asset is oversold.
Post Script…
Cautionary Notes
It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
