The cryptocurrency market shows a bearish trend this morning. Bitcoin has crossed the critical threshold of $60,077 and is now trading around $59,753.

📰 Macro and crypto news

Fed and market capitalization: Donald Trump keeps up pressure for rate cuts, while the Fed chair, Kevin Warsh, faces persistent inflation. Economist Peter Schiff says that overly strict monetary tightening could weaken the economy before inflation returns to 2%. The crypto market capitalization has fallen by $2.3 trillion over 8 months.

Options: Today is the expiration of $11.85 billion worth of options. Max Pain prices are at $72,000 for BTC and $2,000 for ETH, both significantly above current prices. In addition, Kazakhstan launches a Solana ETF, Hyperliquid adjusts its margins, and Grayscale says that Pump and Cake are among the protocols generating the most revenue.

MiCA Regulation: Having failed to obtain approval, Binance will restrict its services in Europe starting July 1. Bybit Europe, fully compliant, stands out as an alternative for transferring funds.

📉 Technical analysis

Bitcoin (BTC): Yesterday’s close below $60,077 rules out the double bottom scenario and instead leaves room for a bearish structure (Bear Flag). A technical retracement back to this former support level is possible, but the trend remains fragile without a daily close above. The price could drop toward the liquidity zones at $58,100 and $55,600. However, the RSI is in oversold territory between 30 and 31, a historically favorable level for a rebound.

Ethereum (ETH): ETH shows relative stability around $1,556, with yesterday’s close preserving its low at $1,564. Tonight’s close will determine whether its reversal structure remains valid. With the Bollinger Bands very tightly compressed, breaking out of the range could trigger a move of at least 10%.