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Bitcoin Roars as Global Liquidity Hits Record High, Ethereum Flows Out of Exchanges, and US Law Grants Presidential Power Over Digital Assets


In a week marked by soaring Bitcoin open interest, record-high global liquidity, and a new US law granting the president power over digital assets, the crypto market remains abuzz with activity and speculation.

Why It Matters

The spike in Bitcoin’s open interest and the record-high global liquidity could signal increased speculative activity and potential price volatility. Meanwhile, the new US law granting the president power over digital assets raises concerns about centralized control in the crypto space.

By the Numbers

  • Bitcoin’s open interest increased by $2.02 billion over three days, totaling $36.92 billion on June 6.
  • Over $3 billion worth of Ether has been removed from centralized crypto exchanges since the May 23 approval of spot Ether ETFs in the US.
  • Global liquidity, as measured by the M2 money supply, has reached a record high of $94 trillion, up 10% from the local lows in late 2022.

What’s Next

As the crypto market continues to evolve, experts anticipate potential short-term price corrections due to the high volume of leveraged positions. However, the increased speculative activity and the record-high global liquidity could also drive Bitcoin’s price volatility in the near future.

The Big Picture

The crypto market remains a dynamic and rapidly evolving space, with regulatory developments, technological advancements, and shifting investor sentiment all playing a role in shaping its future. As the market matures, it will be crucial to strike a balance between sensible regulation and fostering innovation to ensure the long-term growth and stability of the crypto ecosystem.

What do you think about the potential impact of the new US law granting the president power over digital assets? Share your thoughts in the comments below.

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