🚨 Trending in Web3: The News You Can’t Miss

📰 News

🏦 European Central Bank Cuts Interest Rate With 25bps to 2%, Will US FED Follow?

The European Central Bank (ECB) has opted for interest rate cuts across the board as inflation indicators decelerate. Across the Atlantic, optimism is growing that the US FED will follow its European counterpart to slash interest rates.

European Central Bank Slashes Rates By 25bps

The Governing Council of the ECB has confirmed three key interest rate cuts by 25 basis points to stimulate the regional economy. According to a press release, the ECB notes that the decision to cut interest rates follows an updated assessment of available inflation data for the EU.

Per the data, the EU’s inflation hovers around the 2% mark in the short term, while long-term estimates point to similar conservative numbers. Furthermore, the ECB notes that analysts are forecasting a spike in GDP projections despite ongoing trade uncertainties.

Going forward, the ECB’s reduction of interest rates by 25 basis points will affect facilities relating to deposits, main refinancing operations, and marginal lending facilities. The 25 basis point reductions leave interest rates on the deposit facility at 2.00% while main refinancing and marginal lending facilities sit at 2.15% and 2.40%.

The ECB notes that it will maintain current interest rates since trade tensions from April have eased. EU and US representatives have agreed to open negotiations to reach a trade agreement after April’s skirmish that saw Donald Trump impose 50% tariffs on the region’s imports.

However, cryptocurrency prices did not rally after the announcement with Bitcoin down by nearly 2% and the broader crypto market capitalization shedding $30 billion over the last day.

🏛 Eight Crypto Groups Lobby to Add Blockchain Regulatory Certainty Act to Market Structure Bill

A coalition of eight crypto policy organizations has urged Congress to incorporate the Blockchain Regulatory Certainty Act (BRCA) into the upcoming market structure legislation. The groups argue that this amendment is crucial for the protection of developers and infrastructure providers in the cryptocurrency and decentralized finance (DeFi) sectors.

Push to Add Blockchain Regulatory Certainty Act to Market Structure Bill

The groups, including the DeFi Education Fund, Coin Center, Solana Policy Institute, Digital Chamber, Blockchain Association, Crypto Council for Innovation, Bitcoin Policy Institute, and Paradigm, have issued a joint statement urging Congress to add the BRCA to the Market structure legislation. They believe the inclusion of BRCA would provide essential regulatory safeguards to developers who do not hold or control customer funds.

“We are united in our commitment to protecting the software developers building our financial future,” said the organizations in their statement. The BRCA is viewed by many in the industry as a critical safeguard, especially for decentralized finance (DeFi) developers, ensuring that they are not unfairly treated as traditional financial institutions.

The groups emphasize that while blockchain developers build non-custodial software, they should not be required to adhere to regulations designed for businesses that hold customer assets. “It’s critically important that we don’t treat open-source developers like traditional financial institutions,” stated one policy lead, emphasizing the importance of clear regulatory distinctions.

📊 Markets

⚠️ Bitcoin Price Crash Likely as Bollinger Band Creator Signals End of Rally Phase

Is a Bitcoin price crash brewing? As of June 4, 2025, investors could be bracing for a potential downturn as key sell signals emerge. Bollinger Bands creator John Bollinger identified a bearish pattern on the BTC/USD chart that could hint at the “end of rally phase” for BTC price. To make matters worse, Bitcoin’s collapsing 30-day implied volatility (IV), CME futures and options open interest warn confidence among sophisticated investors, raising concerns about a potential Bitcoin price correction.

Bollinger Bands Point to a Bearish Shift

John Bollinger, the renowned technical analyst behind Bollinger Bands, flagged a critical pattern in his Bitcoin price analysis posted to Twitter on June 4. He noted a “Three Pushes to a High” formation on the BTC/USD daily chart, where BTC price hit the upper Bollinger Band three times. This pattern typically signals the “end of rally phase”, indicating that Bitcoin’s bullish momentum may be fading. Repeated touches of the upper band often suggest overbought conditions. Failed breakout attempts further highlight the lack of buying pressure.

Since May 23, Bitcoin price has crashed 6.54% and is currently sitting above $104K support. If momentum weakens, traders can expect a retest of $102,420, which is the lower Bollinger Band. A breakdown of this level suggests a shift in sentiment favoring bears. Hence, investors must exercise caution as noted by Bollinger’s bearish Bitcoin price prediction for June 2025.

❌ XRP Price Risks 19% Crash Amid Inverted Cup and Handle Pattern – Is $1.71 Next?

XRP price risks a 19% crash after creating a bearish inverted cup and handle pattern. As of June 5, 2025, if XRP loses critical support, the price may crash below $2 and revisit $1.71. Despite the bearish technical structure, social dominance shows a sentiment divergence and growing hype. XRP has shed more than 2% of its value in 24 hours to trade at $2.18 at press time. The daily trading volumes are also down by 17% to below $2 billion per CoinMarketCap data.

XRP Price Risks Crash Amid Inverted Cup and Handle

An inverted cup and handle pattern has emerged in the daily price chart, suggesting that XRP could face further decline. This pattern is depicted by the rounding top pattern and the ascending parallel channel.

At press time, the token price had dropped below the lower ascending trendline, indicating that the attempt to rally after the recent dip had faced resistance. If Ripple continues its decline below this channel, it may fall below the support level of $2.13.

The target for XRP price within this bearish pattern is equivalent to the depth of the cup. If the price falls below the $2.13 support level, Ripple may record a 19% crash to $1.71. A drop to $1.71 will push XRP to a multi-month support level that it has defended since November 2024.

The RSI does not show any bullish optimism as the indicator is dropping and creating lower lows, a sign that the bearish momentum is gaining strength. With a value of 43, the RSI shows that bears are fully in control.

The MACD line also confirms the bearish technical structure after crossing below the zero line into the negative region. This suggests that the second-largest altcoin may continue facing dips.

The above outlook aligns with a recent CoinGape analyst who observed that while XRP price formed a buy signal earlier this week, the recovery would be short-lived and a decline to the $2.13 support level was likely to occur.