5 Things to Know in Crypto This Week 💡

Bitcoin Setting Up For Higher Prices In June as Key Indicators Turn Green 🐂

• Many Bitcoin traders remain bullish over a BTC price breakout despite months of consolidation — and on-chain data appears to support them.

• Technical indicators suggest Bitcoin may reach $75,000 by the end of June, based on a bullish flag breakout pattern and relative MACD strength.

• Last week, Bitcoin ETFs reported a remarkable net inflow of $242 million per day, indicating a resurgence in buy-side demand.

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‘Roaring Kitty’, the Infamous GameStop Trader, is Back with a Massive ~$180M Position 🚀

• The Reddit account at the center of 2021’s surge in GameStop shares posted on Sunday for the first time since April 2021.

• Keith Gill, who goes by ‘Roaring Kitty’ on X and YouTube, and by ‘DeepF*****Value’ on Reddit, appeared to post a screenshot that shows a $181.4 million position in GameStop stock and options.

• The last time Gill posted he sparked a frenzy in meme stocks/coins. Robinhood, which allows 24-hour trading, showed GameStop stock up 19% to $27.58 in late-night trading on Sunday.

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President Biden Vetoes Crypto Custody Bill 🏛️

• On Friday, President Biden vetoed a congressional resolution that aimed to overturn the SEC's approach to banks and crypto custody.

• The resolution targeted the SEC's Staff Accounting Bulletin 121, which requires banks to treat customers' crypto assets as liabilities.

• President Biden went on to claim is administration “will not support measures that jeopardize the well-being of consumers and investors.” The bill was largely support by Republicans.

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June Preview: $100 Million Token Unlocks from Arbitrum and Aptos, plus APE, OP, and More 🔓

• June will see significant token unlocks in the crypto space, totaling over $650 million.

• Major unlocks include $100 million each from Ethereum Layer 2 network Arbitrum, and Layer 1 project Aptos.

• Other notable unlocks include ImmutableX ($55 million), StarkNet ($75 million), and Space ID ($56 million). Optimism will unlock $77 million worth of tokens on June 30.

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PayPal Expands Stablecoin (PYUSD) to Solana ⚡

• PayPal has expanded its stablecoin, PayPal USD (PYUSD), to the Solana blockchain, marking its first move beyond Ethereum.

• The addition of PYUSD to Solana allows for lower-cost transactions, aiming to expand its use as a payment method for small purchases.

• Solana's partnership with PayPal boosts its credibility in the $2.6 trillion payments processing space.

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