The Bank of Korea reportedly suspended its central bank digital currency 
trials as participating banks are tempted by the government’s promise to allow 
stablecoins.

South Korea pauses CBDC tests as stablecoin fever hits banks

U.S. policy upheaval is rattling global markets, weakening the dollar’s safe- 
haven status and accelerating fears of systemic instability, as financial 
trust erodes worldwide. US Policy Chaos Triggers BIS Warning: Dollar in 
Danger, Trust Eroding Fast Persistent economic uncertainty is reshaping 
financial stability, and mounting structural vulnerabilities threaten to delay 
recovery unless policymakers confront fragile foundations […]

US Dollar Faces Historic Stress Test as BIS Issues Dire Warning on Global Fragility

South Korea’s central bank digital currency project has been put on hold as 
the regulators turn their attention to fast-tracking the issuance of won- 
backed stablecoins. According to a Bloomberg report citing an unnamed Bank of 
Korea official, the central bank…

South Korea halts CBDC project as regulators prioritize won-backed stablecoin rollout

Metaplanet has become the fifth-largest corporate Bitcoin holder after its 
latest $108 million purchase, which comes on the same day that the Japanese 
firm issued 0% interest bonds to buy more.

Metaplanet surpasses Cleanspark with $108M Bitcoin buy

As the market’s second largest cryptocurrency, Ethereum (ETH), struggles to 
maintain momentum above the crucial $2,500 threshold, one analyst believes 
that ETH is poised for a significant rally. In a recent post on social media 
platform X (formerly Twitter), crypto analyst Cyclop expressed a bullish 
outlook, labeling the current market conditions as the best long setup for 
Ethereum he has seen in years. Analyst Sees $4,000 Target This Summer Cyclop 
highlighted that Ethereum short positions have reached all-time highs, a 
situation reminiscent of a previous spike that occurred just weeks ago. The 
analyst noted that liquidity has been swept on both sides, creating a scenario 
where market uncertainty may actually benefit Ethereum. &#8220;Most doubt ETH and 
altcoins right now—I&#8217;m betting on $4,000 this summer,&#8221; he stated confidently. 
Related Reading: TD Sequential Flashes Buy: Dogecoin Ready For Rebound To 
$0.21 Cyclop outlined several key factors driving his optimistic stance. 
First, he pointed to the recent Pectra update, which has reinvigorated 
interest in Ethereum by enhancing transaction capabilities, updating security 
features, and improving staking options. This update has reportedly led to 
increased demand, contributing to a potential price surge. Moreover, Cyclop 
emphasized the broader macroeconomic landscape, noting that cryptocurrency 
adoption is accelerating beyond Bitcoin (BTC), with Ethereum taking a 
prominent role. The analyst suggests that major corporations and banks are 
beginning to purchase and stake Ethereum, further boosting trust and interest 
in the digital asset which could ultimately result in more demand and more 
price uptrends. Ethereum Rallies May Trigger Altcoin Boom On-chain metrics 
also favor Ethereum, with the cryptocurrency ranking highly in various 
categories, according to Cyclop. It currently stands as the second-highest by 
fees, leads in bridged net flows, and ranks third in stablecoin supply 
changes, showcasing its robust market position. Another critical aspect of 
Cyclop&#8217;s analysis concerns altcoins and the upcoming altseason, traditionally 
characterized by a rush of investment into Ethereum before spilling over into 
smaller tokens. He pointed out that historical patterns indicate that Ethereum 
price rallies often trigger broader altcoin surges, and the current market 
sentiment suggests that many altcoins are at their lowest ebb. Related 
Reading: Dogecoin Silent Build-Up: Double Bottom Hints At Explosive Move To 
$0.47 While Cyclop acknowledges that a majority of altcoins may face 
significant challenges, he argues that ETH remains undervalued, especially 
with Bitcoin trading near $100,000. He has made strategic moves, reallocating 
some of his Bitcoin holdings into Ethereum and promising strong altcoins. His 
initial target for Ethereum is $3,000, where he plans to take profits, 
followed by a series of sell orders between $4,000 and $6,000. As of press 
time, ETH trades at $2,500, a 12% price increase in the weekly time frame. 
Featured image from DALL-E, chart from TradingView.com

Cryptocurrency price in SEK