33-year-old socialist Zohran Mamdani became a surprise favorite among the NYC mayoral candidates from the Democratic Party and is considered a likely winner in the election. Mamdani’s socialist platform is criticized for being naive and unrealistic. However, his popularity is…

Socialist Zohran Mamdani may become a New York mayor. Why does crypto X push against him?

Bitcoin price started a fresh decline from the $108,800 zone. BTC is now 
consolidating and might aim for a move above the $106,500 resistance. Bitcoin 
started a downside correction from the $108,800 zone. The price is trading 
below $107,000 and the 100 hourly Simple moving average. There is a bearish 
trend line forming with resistance at $106,000 on the hourly chart of the 
BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if 
it stays above the $105,000 zone. Bitcoin Price Dips Further Bitcoin price 
failed to surpass the $108,800 resistance and started a fresh decline. BTC 
declined below the $107,000 level. The bears even pushed the price below the 
$106,000 level. A low was formed at $105,116 and the price is now trading in a 
range below the 23.6% Fib retracement level of the downward move from the 
$108,792 swing high to the $105,116 low. Bitcoin is now trading below $107,000 
and the 100 hourly Simple moving average. On the upside, immediate resistance 
is near the $106,000 level. There is also a bearish trend line forming with 
resistance at $106,000 on the hourly chart of the BTC/USD pair. The first key 
resistance is near the $106,500 level. A close above the $106,500 resistance 
might send the price further higher. In the stated case, the price could rise 
and test the $107,000 resistance level. It is close to the 50% Fib level of 
the downward move from the $108,792 swing high to the $105,116 low. Any more 
gains might send the price toward the $108,000 level. More Losses In BTC? If 
Bitcoin fails to rise above the $106,500 resistance zone, it could start 
another decline. Immediate support is near the $105,500 level. The first major 
support is near the $105,000 level. The next support is now near the $104,200 
zone. Any more losses might send the price toward the $103,500 support in the 
near term. The main support sits at $102,000, below which BTC might continue 
to move down. Technical indicators: Hourly MACD – The MACD is now losing pace 
in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for 
BTC/USD is now below the 50 level. Major Support Levels – $105,500, followed 
by $105,000. Major Resistance Levels – $106,500 and $107,000.

Bitcoin Price Trims Gains — Bulls Lose Steam Near Resistance

The Supreme Court’s refusal to hear a major crypto privacy case leaves intact 
rulings that uphold the IRS’ power to obtain bitcoin user data without 
consent. IRS Retains Authority to Access Bitcoin Transaction Data Without User 
Consent A constitutional challenge over the Internal Revenue Service’s (IRS) 
ability to obtain cryptocurrency transaction records without a warrant […]

Supreme Court Declines Crypto Privacy Case, Upholds IRS Access Without Warrant

Ethereum has stayed under the radar as Bitcoin grabs headlines. But new data 
shows long‑term holders have quietly built up a huge stash of ETH. This might 
set the stage for a big move when markets heat up. Related Reading: Insane Or 
Insightful? VC Firm Says XRP Could Reach Nearly $9,000 In Just 5 Years 
According to on‑chain trackers, close to 30 million ETH is now sitting in 
wallets that have never spent a single coin. These so‑called accumulation 
addresses only take in Ethereum and don’t send any out. That’s an all‑time 
high for this group of holders. They’ve piled in even though Ether is trading 
far below its peak. Many of these investors seem to believe a rally is coming. 
$ETH on-chain activity is spiking. The sleeping giant is about to wake up! 
pic.twitter.com/1Pq6L0g5hH — Crypto Rover (@rovercrc) June 28, 2025 Rising 
Hoards Signal Confidence The pace of ETH going into cold wallets has shot up 
sharply over the past few months. It’s a bigger build‑up than in past cycles. 
If history is any guide, that sort of move usually precedes a price surge. 
Long‑term holders often buy early and hold tight before a big run. This kind 
of confidence from big players can spark wider interest. Network Traffic Hits 
Peak Based on reports, daily transactions on Ethereum just topped 1,500,000. 
That’s the most since early 2023. A rise in on‑chain transfers often points to 
more users, more apps and more trading. When people send coins or use smart 
contracts, they fuel network fees and show real demand. High activity can pull 
in more traders looking to catch the next wave. Technical Barriers Remain ETH 
is trading near $2,460 and it hasn’t cleared two key hurdles yet. The 50‑day 
moving average sits just above price, as does the 200‑day line. Those are 
tough barriers for any asset. Momentum tools aren’t screaming “buy” yet, 
either. The RSI sits around 49 and the MACD has flattened out after a stretch 
of weak readings. On‑balance volume is low, which means big buyers are still 
cautious. Related Reading: Crypto Bombshell: Developer Claims XRP Could Hit 
$20,000 What Comes Next For ETH? Even with strong on‑chain signs, price needs 
to break past $2,600 before bulls can charge ahead. If Ethereum can push 
through that level, the road to $3,000 would look clear. Traders will watch 
for volume spikes and a steady move above those moving averages. If it fails, 
the big holders could be stuck on the sidelines, holding bags that lose value. 
Featured image from Unsplash, chart from TradingView

Ethereum Network Awakens—Massive On-Chain Moves Signal What’s Coming

The SEC has approved NYSE Arca’s listing of a Grayscale large-cap fund holding 
bitcoin, ether, solana, XRP, and cardano, expanding regulated access to 
leading digital assets. SEC Approves Rule Change for Grayscale Crypto Fund 
Listing on NYSE Arca The U.S. Securities and Exchange Commission (SEC) on July 
1 approved a rule change enabling the conversion […]

SEC Clears Grayscale Digital Large Cap Fund for NYSE Arca ETF Listing

Bitcoin remains within a relatively tight range, struggling to gain sufficient 
momentum to break the $110,000 mark. At the time of writing, the leading 
crypto by market cap trades at $106,437, down 1.1% over the past 24 hours and 
nearly 4.8% below its May all-time high. The current consolidation range 
between $105,000 and $107,000 has prompted close monitoring of market 
behavior, especially from whales and long-term holders (LTHs), as the market 
attempts to find its next direction. Related Reading: Bitcoin Dominance Shows 
Bearish Divergence – Altseason Could Be Near Bitcoin Whales Lead Market 
Activity as Profit Realization Surges Recent data from CryptoQuant suggests 
that a significant shift in realized profits on Binance may be influencing 
short-term price trends. CryptoQuant analyst Crazzyblockk highlighted a major 
event on June 16, when over $2.6 billion in profits were realized on Binance 
alone, the second-largest spike of its kind on the platform. This activity was 
followed by immediate selling pressure and market reaction, suggesting that 
profit-taking from large investors remains a core factor in the current price 
movement. According to Crazzyblockk, the June 16 event saw a total of $4.5 
billion in realized profits across centralized exchanges, with Binance 
accounting for nearly 58% of that volume. “This milestone is more than just a 
data point — it’s a reminder of Binance&#8217;s unmatched influence on global crypto 
markets,” the analyst wrote. He emphasized Binance’s role in price discovery 
and how whale behavior on the platform often serves as a proxy for broader 
market sentiment. As institutional participants and high-net-worth investors 
execute large moves on Binance, their actions can foreshadow phases of trend 
reversals or sustained accumulation. The data also shows the importance of 
tracking realized profit and loss (PnL) metrics, especially on high-volume 
exchanges. The event reflects what Crazzyblockk described as “strategic 
profit-taking by sophisticated participants,” many of whom rely on Binance&#8217;s 
infrastructure for executing high-liquidity trades. Long-Term Holder Selling 
Seen as Constructive Rotation In a separate QuickTake post, CryptoQuant 
analyst Yonsei Dent offered a different perspective by analyzing long-term 
holder activity. Dent observed that although Bitcoin has been trading sideways 
between $100,000 and $110,000 since May, on-chain indicators such as Spent 
Output Age Bands (SOAB) and Binary CDD show persistent selling from long-term 
holders. These are entities that have held their coins for more than six 
months, indicating a redistribution of supply. However, Dent argues that this 
selling may not imply weakness. “Despite this steady LTH selling, the price 
hasn&#8217;t broken down. This means the market is absorbing the sell 
pressure—implying new demand is coming in,” he explained. According to Dent, 
this dynamic, a rotation from older holders to new buyers, is common during 
mid-to-late stages of a bull market. Related Reading: Warning Signs? Long-Term 
Bitcoin Holders Take Profits as Leverage Spikes He also noted increased 
activity from coins held for one to three years, possibly reflecting profit- 
taking from previous cycle participants. Ultimately, Dent suggested the market 
may be undergoing a quiet redistribution, a phase that could lay the 
groundwork for future upside if buy-side demand remains strong. Featured image 
created with DALL-E, Chart from TradingView