Bitcoin closes near ATH, DeFi crypto surges ahead, and stocks unmoved by US-China deal

Key takeaways

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📈 DeFi tokens pulse - Uniswap (UNI) and Maker (MKR) rally over 10% after SEC signals support for fewer DeFi barriers.

🟠 Bitcoin tests highs - BTC pushes toward its all-time high of $111,200, facing resistance at $110,237.

↗️ Sentiment shifts to greed - The Fear and Greed Index ticks back into "Greed" after weeks in neutral.

🌍 US-China trade continue - Officials agree to revisit past deals, but markets remain cautious.

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Cryptocurrencies related to Decentralised Finance (DeFi) continue to pulse following comments from SEC Commissioner Paul Atkins earlier this week, who called for the removal of barriers to the DeFi industry. Uniswap (UNI), a decentralised exchange, and Maker (MKR), an early DeFi protocol, are both up in price by more than 10%. At the top of the market cap board, Bitcoin made another break for its all-time high of around $111,200 set a few weeks ago, but came up against resistance at $110,237. Will we see a new all-time high before the end of the week? 

On the back of current intra-market momentum, the Fear and Greed Index has ticked back into 'Greed' following a few 'Neutral' weeks. 

Looking at macro news, the meeting between US and China officials has delivered an agreement to revisit a previous deal, it seems. Investors weren’t convinced, as the S&P 500 spent another day horizontally. Also, US CPI numbers are due later today. Will they move investors to action? It’s one to watch.

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In the markets… 

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🌍 Total crypto market cap ⬆️

The global crypto market cap is now approximately $3.45 trillion, reflecting a 1.10% increase over the last 24 hours.

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🟠 Bitcoin (BTC) ⬆️

Price: Currently around $109,654, up about 0.19% over the past 24 hours.
Daily high: Approximately $110,290
Daily low: Roughly $105,603.

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📈 S&P 500 ⬆️

The S&P 500 is up about 0.55% since yesterday.

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😐 Fear & Greed Index

The Crypto Fear & Greed index is currently at 65/100, indicating a return of ‘Greed’ to markets. 

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📊 Bitcoin Relative Strength Index (RSI) (14)

The standard 14-day RSI for BTC is around 52, below overbought (70) and down from yesterday’s 62.

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Data is correct as at GMT 07:35, 11 June. 

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‍Post Script…

Richard Teng on X: "The tide has turned. The SEC’s case against us is dismissed - justice, finally. Huge credit to Chairman Atkins and the Trump administration for standing up to regulatory overreach. The U.S. is back in the arena, ready to lead the world in blockchain innovation." / X

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BitcoinOS on X: "Litecoin is coming home to Bitcoin. 🟠🤝⚪️ BOS is officially activating @CharmsDev and ZK rollups on @litecoin, bringing its magical, programmable tokens and *bridgeless* bridging to Bitcoin’s silver twin. The UTXO renaissance is real—and it's uniting the old guard. 🧵👇 https://t.co/copF0S10k0" / X

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Conor McGregor on X: "I want to build on the amazing feats president @nayibbukele has achieved in El Salvador. Germany dropped the ball - Ireland will not. Using crypto, I plan on establishing a decentralised blueprint for sovereignty. One that others can also adopt to reclaim their nations. I" / X

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KULA on X: "Most projects launch first and worry about regulations later. Kula did the opposite. We built with compliance from day one. Legal frameworks, KYC, AML, all baked in, because real assets require real structure. That’s what makes Kula different. https://t.co/r8uopFwqcx" / X

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Cautionary Notes

‍‍It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.

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