Hey Crypto Addicts,

A major new push is gaining momentum in Washington, and it could have huge implications for Bitcoin adoption. Strive CEO Matt Cole has publicly backed eliminating capital gains tax on Bitcoin transactions, arguing that current tax rules discourage people from using BTC as everyday money.

Instead of spending Bitcoin, many holders simply sit on their coins to avoid triggering taxable events. Cole revealed that Strive is actively supporting efforts to remove capital gains taxes on Bitcoin, believing it would make BTC far easier to use for everyday purchases and accelerate mainstream adoption.

The discussion comes as U.S. lawmakers continue reviewing new digital asset legislation and tax reforms. If successful, supporters believe the change could help move Bitcoin closer to its original vision as a true peer-to-peer payment network, rather than just a long-term investment. ☕

One early Ethereum investor has captured the attention of the crypto community after reportedly selling approximately $188 million worth of ETH before a major market downturn, then buying back in at significantly lower prices after the crash. The move allowed the investor to increase their Ethereum holdings while taking advantage of the sharp decline in price.

The well-timed trade has sparked widespread discussion among traders, with many highlighting how difficult it is to successfully navigate both market tops and bottoms. While most investors struggle during periods of extreme volatility, this whale appears to have capitalized on the selloff and re-entered the market at much more favorable levels.

The transaction also serves as a reminder that large investors often view major corrections as opportunities rather than reasons to panic. As Ethereum continues working to recover from recent lows, market participants will be closely watching whether other large holders follow a similar strategy and continue accumulating during periods of weakness.

With sentiment beginning to improve across the crypto market, the whale's move is being viewed by some as a sign that experienced investors may still see long-term value in Ethereum despite recent volatility. ☕

Bitcoin's recent selloff may have an unexpected culprit: the growing excitement surrounding the highly anticipated SpaceX IPO. Some market analysts believe investors are rotating capital away from crypto and into traditional growth opportunities, particularly high-profile listings like SpaceX, which is expected to be one of the largest IPOs in history.

The theory gained traction after Bitcoin suffered one of its sharpest declines in years, with some observers noting that the rise in space-related stocks and IPO speculation closely aligned with the cryptocurrency's recent weakness. While the SpaceX listing is unlikely to be the sole reason behind the market downturn, many believe it has contributed to a broader shift in investor attention and market liquidity.

Other factors, including ETF outflows, macroeconomic uncertainty, and recent selling pressure from major Bitcoin holders, have also weighed on the market. However, the growing IPO frenzy highlights how quickly capital can move between different asset classes when investors begin chasing the next big opportunity.

As markets continue to evolve, traders will be watching closely to see whether funds return to Bitcoin and digital assets, or if excitement around major public offerings continues to attract investment away from the crypto sector.

Investors face a dilemma. When the S&P 500 finished its worst quarter since 2022 last month, diversifiers like bonds and bitcoin fell too.

Even with the turnaround in mid-April, analysts at Goldman Sachs and Vanguard have projected low-single-digit annualized returns from 2024-2034.

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Inflation Fears Rise

Fresh warnings from BNP Paribas suggest that stubborn inflation could force the Federal Reserve to keep monetary policy tighter for longer, with the possibility of as many as three interest rate hikes if price pressures continue to accelerate.

The bank's analysts believe that stronger economic activity, persistent inflation, and rising consumer demand could complicate the Fed's efforts to bring inflation back to its long-term target. If inflation remains elevated, policymakers may have little choice but to consider additional rate increases despite concerns about slowing growth.

Higher interest rates are typically viewed as a headwind for risk assets, including stocks and cryptocurrencies, as investors often move capital toward safer investments offering improved yields. This has prompted traders to closely monitor upcoming economic data for clues about the Fed's next move.

For the crypto market, the prospect of further rate hikes could create additional volatility in the months ahead. However, many investors remain optimistic that long-term adoption trends and growing institutional interest will continue to support the broader digital asset market despite short-term macroeconomic challenges. ☕

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According to one market outlook, Bitcoin could slowly grind higher toward the $70,000+ region throughout July as bullish momentum gradually returns to the market. Rather than seeing an immediate breakout, the forecast suggests a steady recovery driven by improving sentiment and continued investor interest.

Following the move higher, Bitcoin is expected to enter a period of sideways consolidation between $60,000 and $70,000 through September. Such a range-bound phase would allow the market to absorb recent volatility while building a foundation for the next major trend.

The outlook also anticipates Bitcoin finding a longer-term market bottom around October before beginning another leg higher. If this scenario plays out, BTC could regain strength into late 2026 and potentially trade above $80,000 before the start of 2027.

While no forecast is guaranteed, the projection highlights a cautiously bullish view that sees Bitcoin gradually recovering over the coming months before eventually pushing to new cycle highs. ☕

X Segment

A Chinese court has sentenced a man for stealing 107 Bitcoin after memorizing the victim's wallet recovery phrase, highlighting the critical importance of protecting crypto seed phrases. According to reports, the individual gained access to the wallet's mnemonic phrase, committed it to memory, and later used it to transfer the Bitcoin without authorization.

Tensions between Justin Sun and the Trump-linked World Liberty Financial (WLFI) project have intensified after Sun's crypto exchange, HTX, announced it would delist the USD1 stablecoin. The move came after HTX claimed that wallet addresses connected to the exchange were frozen by WLFI, limiting access to certain on-chain assets.

The Zcash community was recently shaken after developers disclosed a critical vulnerability within the network's Orchard shielded pool, a key privacy feature designed to protect transaction details. Researchers found that the flaw could have theoretically allowed an attacker to create counterfeit ZEC tokens without detection.

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Came for the gains, stayed for the technology, trapped by the bear market…