Lee Jae-myung has plans to enable the state pension fund to invest in crypto, approve Bitcoin ETFs, and launch a Korean won-backed stablecoin.

South Korea elects pro-crypto candidate Lee Jae-myung as president

The Justice Department has filed a civil forfeiture complaint to seize crypto 
and NFTs allegedly tied to laundering efforts by North Korea.

US wants $7.7M in crypto laundered in North Korea IT worker plot

Bitcoin price started a fresh decline and tested the $100,500 zone. BTC is now 
consolidating and might extend losses below the $100,000 level. Bitcoin 
started a fresh decline below the $104,000 zone. The price is trading below 
$104,000 and the 100 hourly Simple moving average. There was a break below a 
key bullish trend line with support at $104,600 on the hourly chart of the 
BTC/USD pair (data feed from Kraken). The pair could start a fresh decline if 
it breaks the $100,500 support zone. Bitcoin Price Dips Further Bitcoin price 
started a fresh decline and traded below the $104,500 support zone. BTC even 
settled below the $104,200 level to enter a short-term bearish zone. Besides, 
there was a break below a key bullish trend line with support at $104,600 on 
the hourly chart of the BTC/USD pair. Finally, the pair tested the $100,500 
support zone. A low was formed at $100,400 and the price is now consolidating 
losses. There was a move above the $101,500 level. BTC tested the 23.6% Fib 
retracement level of the recent decline from the $106,820 swing high to the 
$100,400 low. Bitcoin is now trading below $103,000 and the 100 hourly Simple 
moving average. On the upside, immediate resistance is near the $102,000 
level. The first key resistance is near the $103,200 level. The next key 
resistance could be $103,600. It is close to the 50% Fib retracement level of 
the recent decline from the $106,820 swing high to the $100,400 low. A close 
above the $103,600 resistance might send the price further higher. In the 
stated case, the price could rise and test the $104,200 resistance level. Any 
more gains might send the price toward the $105,000 level. More Losses In BTC? 
If Bitcoin fails to rise above the $103,200 resistance zone, it could start 
another decline. Immediate support is near the $101,200 level and the trend 
line. The first major support is near the $100,500 level. The next support is 
now near the $100,000 zone. Any more losses might send the price toward the 
$98,500 support in the near term. The main support sits at $97,200, below 
which BTC might gain bearish momentum. Technical indicators: Hourly MACD – The 
MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength 
Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – 
$101,200, followed by $100,500. Major Resistance Levels – $102,000 and 
$103,600.

Bitcoin Price Dips Sharply Below $102K as Profit-Taking Accelerates

Russia’s main exchange. the Moscow Exchange, has started offering Bitcoin 
futures contracts. This is one of the biggest moves yet in the country’s slow 
but steady opening to cryptocurrencies. According to market insiders, these 
new contracts track the price of the BlackRock Bitcoin ETF, which has gathered 
over $72 billion in assets. Related Reading: $500M Bet On Solana: Education 
Platform Aims To Supercharge Its Treasury Trades will be priced in US dollars 
per lot, while settlements will happen in Russian rubles. This setup lets 
local traders tap into Bitcoin’s price swings without touching foreign crypto 
platforms. Quarterly Contracts Linked To IBIT These Bitcoin futures will come 
out every three months, with the first batch due to expire in September 2025. 
Based on reports, only qualified investors will be allowed to trade on the 
MOEX. That means big banks, funds, and other approved financial groups can 
take part. Ordinary investors won’t get in on these deals. The Bank of Russia 
gave the green light in May 2025 for such products, but it still warns most 
firms to steer clear of direct crypto deals. The idea seems to be to let big 
players handle the risk in a controlled way. Local Settlements Keep Risk In 
Rubles Moscow Exchange decided to price the contracts in US dollars. However, 
when it’s time to settle, everything happens in rubles. This approach protects 
Russia from sudden swings in foreign markets. A trader can lock in a deal 
based on Bitcoin’s value in dollars, yet get paid in their home currency. It’s 
a setup that keeps money inside Russia even as it ties to a global crypto 
product. Some analysts see this as a smart middle ground. It lets Russia join 
the international cryptocurrency scene but without depending on overseas 
platforms. 🚀 Moscow Stock Exchange Launches #Bitcoin Futures Contracts will 
only be available to qualified investors, with the futures tied to the value 
of the iShares Bitcoin Trust ETF, quoted in US dollars, and settled in Russian 
rubles. (TASS) The launch follows Sberbank&#8217;s approval… 
pic.twitter.com/wMTRlK2Y0y — RT_India (@RT_India_news) June 4, 2025 Bank Of 
Russia’s Cautious Stance Behind the scenes, the central bank is still 
cautious. It approved crypto-linked derivatives for qualified investors, but 
it hasn’t opened the door for everyone. Most banks and investment firms are 
told not to put their clients into direct Bitcoin trades. Instead, they can 
offer tools like these futures if they qualify. This reflects a watchful 
stance on digital assets. Authorities acknowledge the lure of big profits, but 
they also want to avoid big losses. By keeping access limited, they hope to 
keep any trouble contained. Related Reading: Bitcoin Reserve Gets Military 
Nod, Senator Predicts Explosive 10-Year Surge Sberbank’s New Bitcoin-Linked 
Bonds Meanwhile, Sberbank, the country’s biggest bank, is working on its own 
crypto-based product. Soon, select clients will be able to buy structured 
bonds tied to Bitcoin’s price. These bonds will also trade in rubles and won’t 
require a crypto wallet. That way, people can bet on Bitcoin without opening 
accounts on foreign sites. Featured image from Lonely Planet, chart from 
TradingView

From Wall Street To Red Square: Moscow Exchange Lists BlackRock Bitcoin Futures

Amid a public debate regarding an executive order that increases the current 
tax on financial transactions, Brazil is considering taxing crypto 
transactions to mitigate the impact of the increase, which would affect a 
larger audience. Brazil Mulls Cryptocurrency Transaction Tax Cryptocurrency 
transactions are now in the spotlight in Brazil, becoming a key element in the 
[…]

Brazil Mulls Taxing Cryptocurrency to Offset Financial Transaction Tax Hike

XRP&#8217;s price action is currently exhibiting a back-and-forth pattern around 
$2.20, but an interesting technical analysis suggests it may soon leave this 
price level. A chart analysis posted by a crypto analyst on the social media 
platform X has given an interesting projection about XRP’s next move. By 
overlaying XRP’s current weekly chart with its explosive 2017 fractal, the 
analyst hints that the altcoin might be on the verge of a repeat performance 
that sends it far beyond its current price range. 2017 XRP Fractal Overlaid 
Technical analysis of XRP price action on the weekly timeframe reveals an 
interesting pattern that has been unfolding over multiple weeks. This 
interesting pattern began with the intense XRP price rally in Q4 2024, which 
eventually ended in a consolidation around $2, as seen in the current price 
action. This, in turn, has led to the formation of a flag pattern that is 
still playing out. Related Reading: Analyst Shows 3-Cycle Ride For XRP Price 
To Reach $46 The core of the analyst&#8217;s technical analysis lies in the uncanny 
resemblance between XRP’s present market structure and the bullish pattern 
that preceded the historic 2017 rally. As such, the analyst overlaid the 2017 
fractal onto the current price action, revealing a formation that mirrors a 
giant bull flag, which is often interpreted as a technical continuation 
pattern. The analysis also places into focus XRP’s ongoing interaction with 
the 50-week exponential moving average (EMA) on the weekly candlestick 
timeframe. Back in 2017, this level acted as a support base for XRP’s vertical 
breakout. Now, the current pattern shows the cryptocurrency is once again 
consolidating directly above this moving average, which the analyst describes 
as the foundation of a giga bull flag. The resemblance doesn’t stop at price 
structure. The analyst also draws attention to the RSI behavior. Back in 2017, 
the RSI entered a flat compressed zone between two spikes on the weekly 
timeframe, a pattern that appears to be repeating today. The first RSI peak 
has already formed, and the current flattening phase suggests a possible 
second spike may soon follow, which could correlate with a breakout in price 
if the fractal stays valid. What To Expect If 2017 Fractal Plays Out Again? 
The implications are exciting if XRP follows the same trajectory as it did in 
2017. The overlay suggests a price rally beyond $20, which would represent the 
biggest rally so far in XRP&#8217;s price history. The projected move would take XRP 
far beyond its 2018 all-time high of $3.40 and establish a new price floor 
above double digits for the cryptocurrency. This projection aligns with other 
projections in similar technical analyses from other cryptocurrency analysts. 
Related Reading: XRP Price Is Now Targeting $4 After Reversal From ‘Buy Zone’ 
At the time of writing, XRP is trading at $2.2, down by 2,3% in the past 24 
hours. Whether or not XRP follows the 2017 pattern exactly remains to be seen, 
but the similarities in price behavior, RSI compression, and EMA support are 
difficult to dismiss. Featured image from Getty Images, chart from 
Tradingview.com