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Expectations for the FED Week:
Date Time Currency Event Expectation Previous Month Data
June 12, Wednesday 15:30 USD US Consumer Price Index (CPI) 3.4% 3.4%
June 12, Wednesday 21:00 USD FED interest rate decision 5.50% 5.50%
June 12, Wednesday 21:30 USD FED Chairman Jerome Powell’s press release
June 13, Thursday FET, OCEAN, and AGIX merger creating new altcoin ASI
June 14, Friday 18:00 USD Fed Monetary Policy Report
This Week ARB ARB Token Unlock

On Friday evening, Bitcoin dropped from over $72,000 to $69,000. This was influenced by the US non-farm payroll data being significantly higher than expected. While the expected non-farm payroll data was 182,000, it was announced as 272,000.


– Argentina Partners with ADA

Cardano has established a significant strategic partnership with the Entre Ríos province of Argentina. This notable agreement was officially announced with the signing by Rogelio Frigerio, the Governor of Entre Ríos, and Rafael Fraga, a representative of Cardano. The announcement has sparked great interest and excitement in Argentina. Rogelio Frigerio, one of Argentina’s well-known politicians, serves as the governor of Entre Ríos province. Throughout his career, Frigerio has led various economic and social projects, aiming to integrate regional development and innovative technologies through this partnership. Rafael Fraga is a prominent figure in the Cardano community and a key player directing Cardano’s activities in Latin America. With deep knowledge in blockchain technology and cryptocurrencies, Fraga played a significant role in forming this strategic partnership. Although the details of the partnership have not yet been fully disclosed, experts in the industry indicate that this collaboration holds great potential in various areas. Experts foresee the partnership involving educational programs, the development of the developer ecosystem, or pilot projects for state services on the Cardano blockchain. Within the scope of educational programs, awareness-raising and skill-enhancing training about blockchain technology can be organized. By developing the developer ecosystem, local talents can be encouraged to develop projects on the Cardano platform, thereby increasing regional innovation. Additionally, using blockchain technology in state services can ensure transparency and efficiency, improving the quality of public services. This strategic partnership offers significant opportunities for both Cardano and Entre Ríos and paves the way for future projects.


– ARB Token Unlock This Week

Arbitrum’s native token, operating on the Ethereum network, is a layer 2 solution developed to reduce transaction fees and increase transaction speed on the Ethereum network. The unlocking of these tokens is considered a significant milestone for the future of projects and investors within the Arbitrum ecosystem. The unlock refers to the release of tokens that were previously non-transferable or non-sellable for a specified period. Once this period ends, the tokens can be freely traded and bought or sold by their holders. The unlocking of $89 million worth of ARB tokens will increase market liquidity, potentially affecting token prices. Investors and market analysts predict that token unlocks often lead to price fluctuations. The release of a large amount of tokens can increase supply, and if demand is insufficient, it can lead to price drops. However, investors believing in the future potential of ARB tokens might see this as an opportunity to buy tokens at lower prices. The growth of the Arbitrum ecosystem and the expansion of ARB token use cases can increase the token’s value in the long term. Therefore, it is believed that the focus should be on the long-term potential rather than the short-term effects of the unlock. The release of ARB tokens can contribute to the strengthening and increased adoption of the ecosystem. The $89 million ARB token unlock happening later this week may cause price movements. It is advisable to proceed cautiously with Arbitrum transactions this week.


– Robinhood Acquires Bitstamp

Popular trading platform Robinhood announced on Thursday, June 6, that it would acquire crypto exchange Bitstamp in a $200 million cash deal. This step is Robinhood’s largest deal aimed at entering the digital assets market more robustly. The acquisition of Bitstamp is expected to be completed by 2025.


– Telegram Stars Launches New Payment Era for Digital Services

On Thursday, Telegram CEO Pavel Durov announced a new payment system for digital products and services, called Telegram Stars. This system, available to iOS and Android users, facilitates the easy purchase of digital services while allowing developers to convert stars into The Open Network (TON). native tokens through the Fragment exchange. Despite the 30% commission rate taken by Apple and Google for in-app purchases, Telegram will support advertising purchases made with Telegram Stars. Developers who reinvest stars to promote their apps will face almost zero commission.



Bitcoin’s market cap is around $1.36 trillion, while the total value of the cryptocurrency market is about $2.68 trillion. The 24-hour trading volume of the cryptocurrency market is approximately $243 billion. According to the Elliot Wave Theory  analysis results indicate a hesitant start in the short term, with targets of 43-53 thousand levels in declines and 70-76 thousand levels in rises. As the timeframe extends, targets are 47 thousand in declines and 88 thousand in rises.

BTC Elliot Wave“The investment information and comments contained in this research report do not constitute investment advice.”

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