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Tether surpasses Ethereum in market cap; Bloomberg warns Bitcoin could crash to $10,000 amid macroeconomic risks.

Market News
07 Jun 2026
UToday
View Source
Bearish
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Tether (USDT) briefly overtook Ethereum in market capitalization during a recent market sell-off, becoming the second-largest cryptocurrency. Bloomberg's Mike McGlone predicts that Bitcoin could face a severe crash down to $10,000 due to a looming macroeconomic 'hangover' and rising interest rates aimed at controlling inflation. This shift reflects a broader trend of stablecoins gaining prominence as investors seek safer assets amid economic uncertainty. McGlone warns that the historic crypto bull run will likely be followed by a significant correction, influenced by changing political and economic conditions.

More News (BTC)

Crypto liquidations hit $111M as Ethereum leads market deleveraging amid volatile trading.

Crypto liquidations hit $111M as Ethereum leads market deleveraging amid volatile trading.

Crypto derivatives markets saw $111.7 million in liquidations over 24 hours, led by Ethereum with $51.49 million, more than double Bitcoin's $20.01 million. Long positions were hit harder overall, indicating bearish pressure and pullbacks affected bu...

Market News
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4 hours ago
Ethereum forms a short-term golden cross against Bitcoin, signaling potential momentum shift.

Ethereum forms a short-term golden cross against Bitcoin, signaling potential momentum shift.

Ethereum has completed a short-term golden cross against Bitcoin on the hourly chart, where the 50-period moving average crossed above the 200-period moving average. This technical signal follows Ethereum's recent outperformance versus Bitcoin, suppo...

Technical Signals
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XRP AI hits 1M transactions; Bitcoin may reach $500K; Robinhood Chain surpasses Ethereum in volume

XRP AI hits 1M transactions; Bitcoin may reach $500K; Robinhood Chain surpasses Ethereum in volume

XRP Ledger's AI agents have completed over 1 million transactions but with low financial volume, indicating the AI economy is still in early stages. Bitcoin mining veteran Chandler Guo predicts Bitcoin will hit $120,000 within a year and $500,000 in ...

Market News
Bullish
7 hours ago
Fidelity sees Bitcoin near key support, signaling potential accumulation zone and market turnaround.

Fidelity sees Bitcoin near key support, signaling potential accumulation zone and market turnaround.

Jurrien Timmer, Fidelity's global macro director, suggests Bitcoin may have reached a critical support level around $60,000, indicating it could be in an accumulation zone. This assessment is based on a power law model that historically marks buying ...

Market News
Bullish
8 hours ago
Bitcoin's network balance tested amid BIP 110 dispute over transaction rules and node-miner roles.

Bitcoin's network balance tested amid BIP 110 dispute over transaction rules and node-miner roles.

Michael Saylor described Bitcoin as a network balanced by wallets, nodes, and miners, each holding different influence through capital, commerce, and computing power. His comments come amid debate over BIP 110, a proposal to limit certain non-payment...

Market News
Neutral
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