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Bitcoin price nears $27,000 but faces challenges from stricter regulatory scrutiny following FTX’s bankruptcy and a global economic crisis. Bitcoin derivatives markets indicate low probability of breaking above $27,500, suggesting a bearish market structure and a likely $25,500 support retest.

Bitcoin price bounces back with an 8% increase as market volatility returns, following initial unease due to legal action against Binance and Coinbase. As many anticipate a new uptrend, concerns regarding long positions and key resistance points persist, making skepticism and caution essential in the crypto space.

Meme coin Wall Street Memes ($WSM) gains momentum with over $4.5 million raised in the ongoing pre-sale stage. Amassing $4.5 million in just 10 days, the coin’s success may be attributed to its community-centric model, strong social media following, and noteworthy endorsements.

The U.S. Treasury Department’s $173 billion Treasury bills auction could drain U.S. dollar liquidity from the financial market and increase selling pressure on the crypto market, including Bitcoin. This move raises the risk of recession and may result in higher volatility and weaker returns for cryptocurrencies. However, the long-term outcome remains uncertain, as some investors may hedge against recession and inflation with digital currencies.

Ethereum’s price stands at $1905 with an intraday gain of 0.7%. Buyers face a slight obstacle at the local top of $1922. The recent downturn saw a rebound below the 38.2% Fibonacci retracement level, indicating the overall market trend remains bullish. A breakout above $1922 could lead to a 5.5% rise in Ether’s value. The June 2nd daily green candle is critical for Ethereum’s price, showcasing traits for an upcoming rally.

Terra Classic’s LUNC price shows signs of a potential downtrend continuation with the formation of a descending triangle pattern. Market participants should monitor this bearish pattern and be prepared for a possible breakdown or breakout impacting the coin’s price significantly.

The recent release of positive Non-Farm Payroll data led to a significant effect on Bitcoin price, exhibiting a downward movement as market sentiment favored a bullish outlook for the US dollar. The market’s response highlights the complexity and unpredictability of the cryptocurrency market, emphasizing the importance of diligent analysis and monitoring of economic indicators when predicting Bitcoin’s price movements.

Binance recently conducted its 10th LUNC token burn, removing 1.04 billion tokens from circulation and bringing the total destroyed to 33 billion. The market reacted positively with LUNC prices increasing. This burn demonstrates the community’s growing confidence in the project, particularly with upcoming updates such as the CosmWasm v2.1.0 parity upgrade.

Bitcoin was trading at a 20% discount on Binance Australia compared to rival exchanges after the temporary halt of Australian dollar bank transfers. This development led to historically high discounts, showcasing the challenges that crypto markets face in obtaining licenses and adhering to regulatory frameworks.

Cardano has risen to the top 5 in the crypto world, thanks to its open-source blockchain maintained by a brilliant team and extensive research. Despite market volatility, price predictions up to 2030 show an upward trend, with potential risks in the crypto space to consider.