Brazil’s B3 stock exchange will roll out Ethereum (ETH) and Solana (SOL) futures contracts on June 16, after getting approval from the securities regulator CVM. The new contracts will be USD-denominated, with sizes set at 0.25 ETH and 5 SOL each. In a move to boost market liquidity, B3 will also reduce the size of its Bitcoin futures contracts from 0.1 BTC to 0.01 BTC, making it more accessible for traders and increasing market participation.
The US Bureau of Economic Analysis (BEA) released its PCE and GDP reports for Q1 2025 today. Although inflation was less than expected, US GDP shrank before the tariffs took effect, encouraging fears of a recession.
Despite this discouraging signal, Bitcoin has held up rather well, even hitting a new all-time high in Argentina. This lends credence to the notion that BTC is a safe haven from economic chaos.
Trump’s Tariffs May Cause Recession
The global economy is extremely complicated, full of signals that seemingly contradict each other. Since Trump’s tariff plan began taking effect, fears of a US recession have gripped the markets. However, when the BEA released its Q1 2025 PCE report this morning, it prompted relief from some sectors.
“Personal income increased $116.8 billion (0.5 percent at a monthly rate) in March, according to estimates released today by the [BEA]. The increase in current-dollar personal income in March primarily reflected increases in compensation and proprietors’ income,” the report claimed.
At first glance, this data looks highly encouraging. The PCE (personal consumer expenditures) report is the Federal Reserve’s preferred tool to measure inflation, and it’s full of reassuring points.
The core PCE price index (YoY) for March was 2.6%, the lowest since June 2024, and the MoM index was at its lowest since April 2020. In other words, the dollar still spends.
However, the BEA also released its GDP report today. Although the tariffs seemingly haven’t impacted inflation yet, a recession happens after two consecutive quarters of negative GDP growth. The US officially experienced one in Q1, and this report only concerns pre-tariff data:
Key Recession Indicator Before Tariffs. Source: BEA
CNN hypothesized that the inflation figures were artificially heightened thanks to the tariffs. Specifically, US consumers may have purchased more goods in anticipation of them becoming more expensive. This systematic behavior would throw off the usual metrics of inflation tracking.
How will these statistics impact the crypto industry? Simply put, Bitcoin isn’t acting like tariffs are about to cause a recession. It actually sustained its value, trading over $94,000.
Bitcoin also reached an all-time high in Argentina, surpassing 110 million ARS per BTC. This surge is likely due to the significant depreciation of the Argentine peso, which was trading near 1,165 per US dollar in official markets.
These developments indicate that Bitcoin might successfully function as a hedge against economic instability.
Ultimately, these claims are still speculation. Tariffs may or may not cause the US to enter a recession, which would truly test Bitcoin’s status as a safe haven. From today’s perspective, at least, the hypothesis seems reasonable.
The crypto markets initiated the weekly trade with decent gains while Bitcoin price surged above $87,000 and attained significant momentum. The other tokens also surged, but the intensity was lower compared to Bitcoin. Meanwhile, the SUI price is attracting massive volume, which suggests the investors could be extremely bullish about the upcoming price action. Therefore, the SUI price rally is set to demonstrate one of the most bullish cycles and outperform the popular altcoins very soon.
The SUI price has been displaying powerful momentum ever since it gained back the $2.2 zone with a notable rise in volume. The price rebounded from the yearly lows, which has also been a strong support of a bullish pattern. Therefore, a rise from the current consolidation is expected to revive a strong upswing in the SUI price rally. With this, the potential target for the altcoin could be 35% above the current levels.
But the question remains whether the bulls may manage to sustain above the gains or whether the upswing will be a short-lived rally.
As seen in the above chart, the SOL price is trading within a falling wedge and seems to have reached the apex of the consolidation. The dropped volume is recovering, hinting towards a rise in trading activity. On the other hand, the +Di & -Di are about to undergo a bullish crossover, which may turn the DMI bullish. With this, the SUI price is believed to break above the pattern and set up a fine upswing.
The bulls have been constantly trying to keep the momentum elevated, but somehow the bears have managed to keep the price restricted below the range. Now that the volume is recovering, one can expect a fin breakout with the possibility of sustained growth. Therefore, the SUI price is gaining momentum for a breakout, and when this happens, the price is set to reach $4 initially.
The post This Altcoin May be the Next 100x Gem, Which Could Thrive in 2025 appeared first on Coinpedia Fintech News
The crypto markets initiated the weekly trade with decent gains while Bitcoin price surged above $87,000 and attained significant momentum. The other tokens also surged, but the intensity was lower compared to Bitcoin. Meanwhile, the SUI price is attracting massive volume, which suggests the investors could be extremely bullish about the upcoming price action. Therefore, …
Sonic publicly revealed that it ended its five-year partnership with Wintermute. A few hours prior, the market maker dumped over $850,000 in S tokens, causing a 6% price drop.
Wintermute was involved in a controversial token dump last month, but today’s events may be part of a normal business interaction. Sonic claimed no foul play, stating that the market maker sold token holdings to return loaned money.
Intel Scout, a Sonic ecosystem decoder, was the first to connect S’s price action with Wintermute’s token dumping. He claimed that the market maker sold around 3 million S tokens in 24 hours, and several other whales disposed of even more.
Sonic’s anonymous Head of Strategy responded to these claims, revealing that the companies had split ways:
24 hours ago, we informed @wintermute_t that we will not be renewing our MM contract. We have been using WM exclusively for 5 years of service.
We have engaged with other MM firms who are willing to provide MM++, they get involved in our DeFi ecosystem, engage with applications…
Sonic’s Head of Strategy went on to state that the company was in talks with several market makers to replace Wintermute.
Specifically, they claimed that CEX only support is “simply no longer enough,” and that this successor needs to proactively engage with Sonic’s DeFi ecosystem, community, apps, and developer team.
Even if Sonic and Wintermute had an amicable breakup, this is not the market maker’s first controversy. In January, the firm faced accusations of market manipulation after $20 million in transactions with Binance.
Nonetheless, today’s actions have not caused a similar scandal yet. If Sonic was dissatisfied with Wintermute’s actions, the company could’ve addressed this, but it didn’t.
It even gave a sympathetic reason for the token sales, explaining that Wintermute needed to return loaned funds. Wintermute, for its part, hasn’t said anything about the episode.
