News on June 20, according to the latest report from Bitfinex Alpha, as more key indicators are released one after another, the United States continues to face a mixed economic landscape. Wholesale prices, as measured by the PPI, experienced a larger-than-expected decline in May, signaling a possible slowdown in inflation. The trend suggests supply chain bottlenecks are easing and demand for commodities is slowing due to higher borrowing costs. This vindicated the Fed's decision last week to temporarily hold interest rates unchanged.
Additionally, despite the US SEC’s lawsuit against Binance and Coinbase, the crypto market remains remarkably stable. In fact, the on-chain movement shows an interesting difference in investor behavior: on the one hand, transactions below $10 million in size saw a large number of withdrawals; on the other hand, transactions above this threshold were generally deposits. The outflows suggest that despite complaints about regulatory scrutiny, long-term holders of bitcoin, who maintain confidence in the asset's long-term value, appear unaffected.
Additionally, despite the US SEC’s lawsuit against Binance and Coinbase, the crypto market remains remarkably stable. In fact, the on-chain movement shows an interesting difference in investor behavior: on the one hand, transactions below $10 million in size saw a large number of withdrawals; on the other hand, transactions above this threshold were generally deposits. The outflows suggest that despite complaints about regulatory scrutiny, long-term holders of bitcoin, who maintain confidence in the asset's long-term value, appear unaffected.