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Crypto World

Over $2.2 Trillion Wiped From Crypto Market in Eight Months as Bitcoin Hits Cycle Low

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Brian Armstrong's Bold Prediction: AI Agents Will Soon Dominate Global Financial

TLDR:

  • Over $2.2 trillion has been wiped from the crypto market in eight months since the October 2025 peak.
  • Bitcoin dropped 53% from its $126,200 all-time high, hitting a new cycle low of $59,000 in June 2026.
  • Ethereum fell 67% from its October top, while altcoins excluding both assets lost $538 billion in value.
  • The four-year crypto cycle model places Bitcoin’s expected market bottom around October 2026.

Over $2.2 trillion has been wiped from the cryptocurrency market in the last eight months, with the total market cap falling from $4.27 trillion in October 2025 to $2.02 trillion in June 2026.

Bitcoin dropped 53% from its all-time high of $126,200 to a new cycle low of $59,000. Ethereum fell even harder, losing 67% over the same period. The altcoin market, excluding both assets, shed $538 billion alone.

Eight Months of Cascading Losses Across the Crypto Market

The wipeout traces back to October 6, 2025, when crypto hit its all-time high, and Bitcoin neared $126,000. Four days later, Trump announced new China tariffs, sparking what markets now call the “10/10 crash.” Within hours, $19 billion was liquidated, marking the largest single-day wipeout in crypto history.

Pressure continued building into the new year. On January 30, Trump nominated Kevin Warsh to replace Fed Chair Jerome Powell.

That single move shifted rate expectations and added a new layer of macro uncertainty to an already fragile market.

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On February 23, the administration raised the global tariff rate to 15%, pushing Bitcoin below $65,000. Five days later, on February 28, the US and Israel launched military operations against Iran. Risk appetite across financial markets deteriorated further as a result.

As Bull Theory noted on X, the total market excluding Bitcoin and Ethereum is down 45%, wiping out $538 billion on its own. That figure illustrates how broad the damage has been, well beyond the two largest digital assets.

Corporate and Policy Shocks Deepen the Drawdown

In late May, Strategy sold 32 Bitcoin, marking the firm’s first-ever sale of its holdings. Though the transaction was small relative to the company’s total treasury, it broke a narrative that had held for years.

Strategy had been widely viewed as an unconditional Bitcoin accumulator, and the sale rattled investor confidence across the market.

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June brought another blow. Kevin Warsh presided over his first FOMC meeting as Fed Chair, and the dot plot turned hawkish.

Rate cuts were effectively taken off the table, reinforcing a macro environment that continues to weigh on risk assets, including crypto.

Spot Bitcoin ETFs reflected the shift in sentiment. Consecutive sessions of net outflows stretched across weeks, with redemptions running into the billions. Institutional demand, which had been a pillar of the 2024 to 2025 rally, was now visibly reversing.

According to the four-year crypto cycle model, Bitcoin is expected to bottom around October 2026. As of June 24, the total market cap sits near yearly lows, still down more than 50% from the October 2025 peak, with $2.2 trillion yet to return.

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Uniswap Adds No-Code Token Auction Tool to Its Web App

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Uniswap Adds No-Code Token Auction Tool to Its Web App


Uniswap has added a no-code token auction tool to the Uniswap Web App, letting any team configure and launch an onchain token sale from a browser without writing code. The tool runs on Uniswap's Continuous Clearing Auction mechanism, which conducts price discovery entirely onchain. In a CCA, bids… Read the full story at The Defiant

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Cathie Wood predicts inflation collapse as Fed hike fears grow

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Cathie Wood doubles down on Bitcoin with bold $1.25M prediction

Cathie Wood has dismissed mounting inflation fears despite U.S. headline CPI rising to 4.2% in May, arguing that underlying price pressures are close to disappearing.

Summary

  • Cathie Wood says underlying inflation is near 0.5% despite headline U.S. CPI rising to 4.2% in May.
  • The ARK Invest CEO cites productivity gains and Truflation data to argue inflation pressures are easing.
  • Wood believes Fed Chair Kevin Warsh could support economic growth if inflation falls toward 0% to 1%.

According to the ARK Invest CEO, inflation fears dominated conversations during her recent investor meetings across Asia and Europe, where many participants questioned whether persistent price growth would force the Federal Reserve to tighten monetary policy further.

In a series of X posts, Wood said she was surprised by how strongly investors expected inflation to remain elevated, adding that she believes inflation could weaken sharply for reasons extending beyond lower oil prices.

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The comments come as financial markets have increased bets that the Fed could raise interest rates by another 25 basis points in September after the latest inflation data. At the same time, Fed Chair Kevin Warsh has continued to stress the central bank’s commitment to returning inflation to its 2% target.

Labor costs and real-time data point to weaker inflation

Presenting a different view of price pressures, Wood argued that underlying inflation is already close to disappearing when measured through labor costs rather than headline consumer prices.

According to Wood, U.S. productivity increased roughly 3% year over year during the first quarter while compensation per hour rose about 3.5%. Using those figures, she said unit labor costs indicate underlying inflation of only 0.5% year over year, suggesting businesses are not facing meaningful cost-driven inflation.

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Wood also pointed to alternative inflation measures that differ from official government statistics. Citing data from Truflation, she said the platform’s real-time inflation gauge has fallen from approximately 11% year over year in 2022 to 1.8%, while its core inflation reading has declined to 1.4%.

Based on those indicators, Wood argued that current inflation trends are considerably weaker than headline CPI figures suggest. She maintained that investors placing heavy weight on government inflation data may be overlooking signals coming from productivity and private-sector pricing measures.

Wood expects Kevin Warsh to support growth if inflation eases

Looking ahead, Wood said she believes Warsh understands the distinction between official inflation readings and conditions developing across the broader economy.

According to her assessment, productivity gains are helping reduce inflationary pressure, while existing government inflation measures contain methodological shortcomings that can overstate underlying price growth.

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Wood added that if the U.S. economy continues expanding while inflation falls toward a range of 0% to 1% or below, she expects the Federal Reserve under Warsh to place more emphasis on supporting economic growth instead of maintaining restrictive monetary policy.

https://x.com/CathieDWood/status/2069817965369843959

Her outlook contrasts with current market positioning, where traders have increased expectations for another rate hike following the stronger-than-expected May CPI report. Even so, Wood argued that continued improvements in productivity and easing cost pressures could eventually reduce the need for tighter monetary policy.

Concluding her remarks, Wood said she expects the Fed’s policy stance to evolve once inflation weakens further, allowing the central bank to encourage economic growth rather than focus primarily on containing inflation.

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CFTC Sues Kentucky, Making It the Ninth State in Prediction-Market Jurisdiction Fight

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CFTC Sues Kentucky, Making It the Ninth State in Prediction-Market Jurisdiction Fight


The Commodity Futures Trading Commission filed suit against Kentucky on Tuesday, bringing the total number of states facing federal litigation over prediction-market jurisdiction to nine. The CFTC's complaint seeks declaratory and injunctive relief to block Kentucky from enforcing state gaming… Read the full story at The Defiant

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Coinbase Opens Luxembourg MiCA Hub as Binance Races EU Deadline

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Coinbase Opens Luxembourg MiCA Hub as Binance Races EU Deadline

Coinbase opened its Luxembourg office on June 24, naming the country its European Union hub under the Markets in Crypto-Assets (MiCA) framework. Binance, by contrast, just withdrew its license bid in Greece.

The contrast shows how regulatory track records increasingly decide who keeps EU access before the deadline on July 1. Early movers gain a 27-state passport, while latecomers risk losing the bloc.

Coinbase Locks In Its Luxembourg Base

Coinbase won its MiCA license from Luxembourg’s Commission de Surveillance du Secteur Financier in June 2025. That came more than a year before the deadline.

The company already held national licenses in six EU countries, including Germany and France. It has also traded publicly on Nasdaq since 2021, giving regulators years of audited disclosures.

The single license covers more than 450 million people across the EU. Coinbase Luxembourg S.A. now sits on ESMA’s register, joining the firms approved under MiCA across the bloc.

Chief Policy Officer Faryar Shirzad opened the office alongside Luxembourg Finance Minister Gilles Roth.

“Luxembourg has established itself as the EU’s leading hub for institutional crypto and tokenization,” he said in a post.

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Binance Faces a MiCA Reckoning

Binance took the opposite path this week. The exchange confirmed its Greek license bid had collapsed, leaving it absent from ESMA’s register.

Regulators have long weighed Binance’s record. In 2023, it pleaded guilty in the United States to money-laundering and sanctions violations.

Binance paid more than $4.3 billion, one of the largest corporate penalties in US history. Founder Changpeng Zhao pleaded guilty and resigned as chief executive.

It now plans to seek approval in another EU member state. Binance says it meets MiCA standards and points to roughly 1,500 compliance staff.

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“Binance is not leaving Europe,” Gillian Lynch, Binance’s head of Europe and UK, told Reuters.

What Comes Next

With days left before the deadline, more than 230 firms have cleared MiCA and can keep serving EU users. Coinbase and rivals including Kraken sit on ESMA’s list.

Binance does not. Its return now hinges on convincing another regulator that its compliance matches its size.

The post Coinbase Opens Luxembourg MiCA Hub as Binance Races EU Deadline appeared first on BeInCrypto.

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Binance Withdraws Greece MiCA Application, Targets New EU Jurisdiction Before July Deadline

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Binance Withdraws Greece MiCA Application, Targets New EU Jurisdiction Before July Deadline


Binance has withdrawn its MiCA license application in Greece and confirmed it will seek authorization in a different EU member state, with seven days before the bloc's regulatory wind-down deadline takes effect. The exchange confirmed the withdrawal Wednesday in a post on X, saying the target… Read the full story at The Defiant

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A16z-Linked Wallet Pulls 25,560 ETH From Binance in Apparent Accumulation Move

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A16z-Linked Wallet Pulls 25,560 ETH From Binance in Apparent Accumulation Move


A wallet attributed to venture firm Andreessen Horowitz (a16z) withdrew 25,560 ETH, worth about $42.62M, from Binance on Tuesday, per onchain intelligence tracker Lookonchain. The move has drawn attention as a potential accumulation play amid a sustained ETH drawdown. Lookonchain identified the… Read the full story at The Defiant

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Is The Senate Finally Pulling the Plug on Trump Crypto Activities?

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Is The Senate Finally Pulling the Plug on Trump Crypto Activities?

Five Senate Democrats, Elizabeth Warren, Richard Blumenthal, Gary Peters, Dick Durbin, and Ron Wyden, formally demanded hearings on June 23 into the $500 million UAE investment in Donald Trump crypto venture, World Liberty Financial, calling the deal unprecedented in American political history and demanding sworn testimony from White House officials on what they knew and when.

The letter landed four days after the senators’ earlier CFIUS inquiry went unanswered, and it sharpens the conflict-of-interest argument by tying a cascade of favorable UAE policy decisions directly to the investment timeline.

The demand is a narrative event. Whether it produces testimony, subpoenas, or anything resembling accountability depends entirely on Republican committee chairs who have shown no appetite to pursue the question – and on whether Democrats have the procedural leverage to force the issue. That leverage, it turns out, runs directly through the stablecoin and crypto market-structure bills Republicans are counting on.

24h7d30d1yAll time

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What the Senate Letter Actually Covers, and What It Can’t Force

The deal at the center of this inquiry closed four days before Trump’s inauguration. Lieutenants to Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s National Security Advisor, purchased a 49% stake in World Liberty Financial for $500 million, with $218 million paid upfront to entities tied to the Trump family and Steve Witkoff, Trump’s lead diplomat for the Middle East.

Two executives from G42 – the Abu Dhabi AI firm chaired by Sheikh Tahnoon, joined World Liberty Financial’s five-member board, giving the Emirati side effective veto power over key decisions.

Source: Text of Letter

The senators’ letter identifies three subsequent policy decisions that benefited the UAE: a $1.4 billion arms sale approved in May 2025 despite congressional objections over weapons reaching armed groups in Sudan; Treasury’s creation of a ‘Known Investor Pilot’ program to fast-track UAE investment approvals through CFIUS; and the Department of Commerce rescinding Biden-era chip export restrictions, authorizing G42 to receive 35,000 Nvidia Blackwell chips worth over a billion dollars.

U.S. intelligence officials had previously flagged G42 for providing U.S. technology that enhanced China’s missile capabilities, a detail that makes the chip authorization the most politically combustible element of this sequence.

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This is not the first escalation. A February 13 letter from Warren and Senator Andy Kim had already asked Treasury Secretary Scott Bessent to determine whether a formal CFIUS review of the UAE’s stake was required, with a March 5 deadline for written answers. That deadline passed without a public response. The June 23 letter represents the shift from requesting a review to demanding public, sworn testimony, a procedural escalation, though still not a subpoena.

World Liberty Financial’s spokesperson David Wachsman has stated that neither Trump nor Witkoff was involved in the investment transaction and that both have had no connection to World Liberty Financial since taking office. Democrats say that framing does not resolve the underlying conflict of interest, particularly given that a Trump-affiliated entity retains a claim to 75% of token revenues, approximately $400 million earned to date.

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The Legislative Hostage: USD1, Stablecoin Bills, and the 60-Vote Problem

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The sharper pressure point is legislative. Republicans need at least seven Democratic Senate votes to clear the 60-vote threshold on both pending crypto regulation bills, the CLARITY Act on market structure, and the stablecoin legislation moving through the Banking Committee.

Senate Democrats have already signaled that stronger ethics and foreign-influence safeguards are conditions of their support, and the window to move these bills before the August recess is narrowing fast.

The conflict-of-interest dimension is especially acute for the stablecoin bill because World Liberty Financial is actively marketing USD1, its dollar-backed stablecoin backed by short-term U.S. Treasuries and cash equivalents, while the regulatory framework that would govern that product is being negotiated in the same Congress.

A prior investment by MGX, another UAE state-backed vehicle, boosted the Trump family stablecoin market capitalization by nearly $2 billion overnight. Warren and Waters sent a separate letter to SEC Acting Chair Mark Uyeda demanding preservation of all records related to WLF and the Trump family, citing the revenue structure as an unprecedented conflict for any administration overseeing crypto regulation.

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Senator Chris Murphy put it plainly on the Senate floor: the UAE investment ‘steered millions of dollars to Trump and his envoy Steve Witkoff right before the Trump White House greenlit an unprecedented deal to sell advanced AI chips to the UAE.’ That framing, foreign government money in, favorable U.S. policy decisions out, is the core argument Democrats are taking into any hearing they can force. Representative Ro Khanna has gone further, referring the Delaware LLC used in the transaction to the U.S. Attorney in Delaware and calling the arrangement a potential constitutional violation.

The Trump administration and Republicans have not publicly criticized the World Liberty Financial deal, and the Trump crypto agenda broadly remains a White House priority, as seen in recent executive actions on crypto security policy. That political alignment means committee chairs have no incentive to schedule hearings voluntarily. Senate Democrats can slow or withhold votes on crypto legislation, but they cannot unilaterally convene a hearing or issue a subpoena from the minority.

The execution events that would actually matter here, a formal CFIUS review opened, a subpoena issued, a floor vote withheld, have not happened. What has happened is a sustained escalation of documented, on-the-record demands that build a paper trail, raise the political cost of inaction, and hand Democrats a concrete procedural threat: no ethics safeguards, no votes for the crypto bills Republicans need.

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Nearly 70% of Pump.fun Tokens Die on Launch Day: CoinGecko

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Nearly seven out of every 10 tokens launched on the Solana-based meme coin launchpad, Pump.fun, since January 2024, stopped trading on the same day they were created, according to a new analysis by CoinGecko.

The study examined more than 18.67 million tokens launched on the platform, excluding only those that never recorded any trading activity. It found that almost 69% of tokens, or around 12.8 million, saw their final trade on the day they launched and did not remain active beyond a single calendar day. Overall, only 850,000 tokens, or 4.55% of all launches, survived for more than 90 days.

Meme Coin Graveyard

In its latest report, CoinGecko said the high failure rate reflects how easy it is to create tokens on Pump.fun. The platform’s low barriers to entry allow creators to launch large numbers of tokens and quickly move on to new projects if early interest does not materialize.

Another 2.18 million tokens survived just one day after launch before activity ended. These projects carried over into the next calendar day but failed to sustain attention. CoinGecko said this pattern is consistent with tokens that briefly gained visibility through trending feeds or influencer mentions before interest quickly faded. Together, about 15 million tokens stopped trading either on the day they launched or the following day, which means more than 80% of all tokens analyzed failed within two days.

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There has also been a steady decline in token survival beyond the first few days. Around 770,249 tokens, or more than 4%, remained active for two to three days, while 642,614 tokens, or 3.4%, survived between four and seven days. Another 460,697 tokens, representing 2.5%, continued trading for eight to 14 days.

Dogecoin, Shiba Inu, and PEPE Slide

The broader meme coin market has been struggling for months after losing the strong momentum seen during the previous cycle. Several recovery attempts this year have failed to gain traction, which has left many popular tokens well below their earlier highs. The recent market turmoil has added further pressure.

The OG meme coin, Dogecoin (DOGE), for instance, has lost almost 25% over the past month. Shiba Inu (SHIB) was also down by nearly 20% during the same period. Meanwhile, Pepe (PEPE) shed over 27%.

The post Nearly 70% of Pump.fun Tokens Die on Launch Day: CoinGecko appeared first on CryptoPotato.

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Sam Altman ChatGPT AI Predicts SpaceX Stock Price By End of 2026

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Sam Altman ChatGPT AI Predicts SpaceX Stock Price By End of 2026

ChatGPT AI just made a prediction on SpaceX stock price that treats the recent pullback as an opportunity rather than a warning. The model sees $220 to $280 by the end of 2026, with an aggressive case stretching to $320.

The bull case treats SpaceX as a rare combination of businesses trading under one ticker. At $156 today, the model frames this as a base-to-bull setup rather than a stretch target.

SpaceX sits at the intersection of satellite internet dominance, commercial launch supremacy, major defense contracts, and next-generation space infrastructure, while Starlink continues to scale into an increasingly massive, cash-generating business on its own. Investor enthusiasm around artificial intelligence adds another layer, especially given the company’s growing exposure through its merged AI operations.

Source: ChatGPT AI SpaceX Price Prediction

Rising government and military demand could act as a steady tailwind through the back half of 2026, and any real progress on Starship would give bulls a fresh headline to rally around.

If risk appetite returns broadly and investors keep assigning premium valuations to this combination of businesses, the model sees $250 as a reasonable year-end target, with $300 or higher achievable if execution stays strong and conditions stay favorable.

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The bear case comes down to one word: valuation. The stock already prices in enormous future expectations, leaving little room for disappointment.

Any slowdown in Starlink subscriber growth, delays with Starship, broader market weakness, or simple post IPO selling pressure as lockups expire could keep shares stuck in the $130 to $180 range for a while instead of breaking higher.

SpaceX Price Prediction: SPCX Stock Tests Gravity After Its Record-Setting Launch

The intraday chart shows SpaceX trading at $156.06 after a turbulent first two weeks as a public company. Shares spiked from their IPO base into the low $220s before rolling over hard, then chopped through a series of lower highs on the way back down toward $150.

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That kind of explosive debut, followed by a sharp pullback, is common for mega-cap IPOs once early momentum buyers take profits and lockup dynamics start to weigh on sentiment.

Source: SPCXUSD / Tradingview

Price recently found support near $150, bounced toward $190, then faded again into the current $156 level, which puts it right in the middle of that post IPO trading range.

Immediate resistance sits near $165, then a tougher ceiling around $190 where the last bounce attempt stalled out. Support holds at $150, the same zone defended during the sharpest part of the recent selloff.

RSI is reading 35.91 against a signal line of 46.20, putting momentum well below its own average and firmly in weak territory for this short trading history. That wide negative gap signals sellers are still very much in control right now.

Overall momentum looks shaky rather than stabilizing at this point. Given how fresh this listing is, SpaceX will likely need to hold $150 and reclaim $190 before the $250 target starts looking like anything more than a longer-term bet on the story rather than the chart.

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LiquidChain Is Catching the Attention of SpaceX holders: ChatGPT AI Predicts It’s the Next 100x

The rotation is already happening. Most people will only see it in hindsight.

Large-cap crypto is not failing. It is capped. Bitcoin, Ethereum, and XRP have been pressing against the same resistance bands for weeks. The macro tailwinds keep getting delayed.

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The institutional inflows keep getting pushed to next quarter. Holding assets where the upside depends on catalysts you cannot control is not a strategy. It is waiting.

A capital that has navigated enough cycles does not wait at resistance. It moves before the destination becomes obvious.

Early-stage infrastructure plays operate on different math entirely. A small enough market cap means a modest rotation produces dramatic price movement. The asymmetry exists because the market has not priced in what is being built yet. That gap between current valuation and what the project is actually worth is where the returns come from.

Multi-chain fragmentation costs DeFi real money every single day. Bitcoin, Ethereum, and Solana run completely isolated liquidity systems with no native way to connect them. Every user moving value between ecosystems absorbs that cost directly in fees, slippage, and failed transactions.

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LiquidChain collapses all 3 networks into a single execution layer. One deployment. Full ecosystem access. No cross-chain tax on every interaction.

The market has not found this yet. That is the entire point.

The presale is at $0.01454 with just over $820,000 raised. Ground floor is not a marketing phrase here. It is a description of where this actually sits in its lifecycle.

Execution is unproven. Adoption is unknown. Those risks are real and worth naming directly. Established assets offer a smoother ride toward a ceiling that is already visible. This offers an earlier seat at a table that has not been set yet.

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Deutsche Bank Flags $3,800 Gold Risk as Fed Turns Hawkish

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Gold Price on June 24.

Deutsche Bank warned that gold could fall to about $3,800 an ounce if the Federal Reserve delivers three to four rate hikes, a scenario that would deepen the metal’s slide.

The downside case sits alongside fresh forecast cuts. Deutsche Bank follows Goldman Sachs, which cut its year-end target to $4,900 an ounce from $5,400. 

Gold Faces Deeper Drop on Fed Hikes

In a note published on Tuesday, the bank noted that “hawks are driving out bulls” in the gold market. The bank now forecasts gold at $4,300 per ounce in the third quarter, more than 22% below its previous estimate and $4,800 in the fourth quarter. Even that year-end target marks a roughly 17% cut from its earlier forecast.

Analyst Michael Hsueh said the revised fourth-quarter outlook assumes the Federal Reserve keeps interest rates unchanged. A run of hikes would change that math. 

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Three to four rate hikes could push gold prices about 7% below current levels. The warning comes as expectations for US monetary policy continue to shift. 

Notably, Bank of America recently suggested that the Federal Reserve could implement as many as three rate hikes in 2026.

Deutsche Bank added that the repricing of Fed expectations, coupled with resilient US economic data, has weighed on bullion prices.

Higher rates lift real yields, which weigh on gold because the metal pays no interest. Shifting rate expectations have already driven the recent selloff.

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Banks Temper Bullish Gold Calls

Gold has slumped more than 21% since early March. A January surge to record highs reversed after the US-Iran conflict lifted energy prices and stoked rate-hike bets.

Spot gold has now dropped below $4,100. It traded near $4,088 on Wednesday, down nearly 1% on the day.

Gold Price on June 24.
Gold Price on June 24. Source: TradingView

Federal Reserve Chair Kevin Warsh left interest rates unchanged at his first FOMC meeting. Yet, nine of the 18 policymakers expect at least one rate increase in 2026.

The shift in tone reinforces downside risks for gold, keeping the possibility of a drop toward $3,800 firmly on the table.

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