UMA crypto token went vertical on Friday, reaching its highest point since March, even as other cryptocurrencies retreated. UMA (UMA) surged to a high of $1.440, gaining over 40% from its weekly low. The rally pushed its market capitalization above…

Here’s why UMA token price just surged

The price of Official Trump coin briefly spiked 6% before pulling back, 
following Eric Trump saying the team &#8220;remain focused on building the most 
exciting MEME on earth.&#8221;

TRUMP memecoin ‘hasn’t pumped’ after Eric Trump says WLF will buy big stack

The Federal Reserve is accelerating efforts to eliminate regulatory gray 
zones, pledging precise digital asset guidance to unlock innovation in crypto 
and next-gen financial technologies. Fed Targets Ambiguity in Digital Asset 
Rules as Part of Broader Overhaul Federal Reserve Vice Chair for Supervision 
Michelle W. Bowman emphasized on June 6 at Georgetown University’s Psaros 
Center […]

Fed Signals End to Ambiguous Crypto Rules, Clearing Road for Innovation

Bitcoin (BTC) dropped sharply over the past 24 hours, nearing the $100,000 
mark with an intraday low of $100,984. This price movement reflects increased 
volatility across the crypto market following a public exchange on social 
media between US President Donald Trump and Tesla CEO Elon Musk. Their clash 
appears to have triggered a wave of risk-off sentiment among traders. In 
response, the global crypto market cap slipped 4%, falling from over $3.4 
trillion yesterday to $3.33 trillion. Meanwhile, the broader market correction 
has not gone unnoticed in derivatives data. Related Reading: Crypto Analyst 
Warns: This Bitcoin Bull Cycle Looks Nothing Like 2017 or 2021 Derivative 
Metrics Reveal Bearish Sentiment Spike According to CryptoQuant analyst 
Darkfost, the Binance net taker volume, a metric that measures the difference 
between aggressive longs and shorts, fell dramatically from $20 million to 
-$135 million in under eight hours. This signals a sharp pivot in sentiment, 
as traders rushed to hedge or speculate on downside risk in response to the 
unfolding news. Darkfost emphasized that this was the largest intraday net 
taker volume reversal observed on Binance this year. The abrupt shift reflects 
how quickly sentiment can change when macro-level narratives or influential 
figures dominate headlines. In this case, the market responded swiftly to 
perceived uncertainty, leading to a concentration of short positions and 
significant selling pressure. The situation also led to a notable change in 
BTC perpetual futures funding rates. Funding on Binance turned negative after 
briefly trending toward positive territory, dropping from +0.003 to below 
-0.004. This indicates that short sellers were willing to pay a premium to 
maintain bearish positions, underscoring rising fear and potentially 
overextended downside bets. 🔔When Funding rates turns negative. 🔹 Buying or 
considering a long position is often wise when funding rates turn highly 
negative, especially if the price starts to trend upward. This typically 
signals a disbelief sentiment among traders, creating strong contrarian… 
pic.twitter.com/LGyHU9uNNK — Darkfost (@Darkfost_Coc) June 6, 2025 Bitcoin 
Past Patterns Suggest Potential for Reversal Historically, deeply negative 
funding rates have been followed by strong recoveries in Bitcoin’s price. 
Darkfost noted three previous events where similar funding shifts led to large 
rallies: October 2023 (BTC surged from $28,000 to $73,000), September 2024 
(from $57,000 to $108,000), and May 2025 (from $97,000 to $111,000). Related 
Reading: Bitcoin’s Key Investors Double Down, Buy Another 79,000 BTC While not 
guaranteed, these patterns suggest that extreme pessimism can sometimes signal 
market turning points. The only recent exception occurred in March 2025 
following trade tariff announcements, which led to a continued decline. Still, 
many traders are watching closely for signs of a short squeeze, where price 
rebounds force short sellers to cover, amplifying upward momentum. Featured 
image created with DALL-E, Chart from TreadingView

Traders Turn Bearish on Bitcoin Following High-Profile Political Tensions, Data Shows

Metaplanet Inc. has announced a $5.4 billion equity raise to significantly 
increase its bitcoin holdings to 210,000 BTC by 2027, representing 
approximately 1% of the total bitcoin supply. Japanese Firm Aims for 1% of 
Bitcoin Supply with Ambitious Acquisition Strategy Metaplanet Inc., a Tokyo- 
listed investment company, has unveiled an ambitious plan to raise $5.4 
billion […]

Metaplanet Unveils $5.4 Billion Plan to Acquire 210,000 BTC by 2027

The president’s son made the announcement late Friday following a series of 
stern warnings to the firm behind a new Trump memecoin wallet. Trump Memecoin 
Wallet Kiboshed, but Potential Investment May Be on the Horizon While 
mainstream media has been fixated on the ongoing war of words between U.S. 
President Donald Trump and Tesla CEO […]