🚨 Web3 Weekly: Don’t Miss These Headlines

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CoinGape Media
June 06, 2025

📰 News

Several prominent tech companies are now exploring the integration of stablecoins into their payment systems. Apple, X, Google, and Airbnb are reportedly in talks with crypto firms about incorporating digital currencies pegged to the U.S. dollar into their operations. The move aims to lower transaction costs and enhance the efficiency of cross-border payments.

Apple, X, Google, Airbnb Interest in Stablecoins

Tech giants including Apple, Amazon’s X, Google and Airbnb have already entered early discussions with crypto companies in regards to stablecoins integration, Fortune reports. These are digital currencies backed by the U.S. dollar, with the goal of providing more stable alternatives to conventional cryptocurrencies. For this, the companies are using stablecoins to cut on transaction fees and have simple global payment systems.

As stablecoins draw investor and regulatory scrutiny, those companies are among the growing interest in these markets.

Many believe stablecoins are a potential ‘killer app’ that can help bring blockchain technology into the mainstream financial system. Now, tech companies are contemplating how these digital assets can help with transaction efficiency, especially for international payments.

Donald Trump continues to pressure the US Federal Reserve to cut interest rates despite Jerome Powell and the committee’s hesitance. This time, the president has called for a “rocket fuel” 100 basis points (Bps) Fed rate cut ahead of the FOMC meeting later this month.

President Trump Pushes For A 100 Bps Fed Rate Cut

In a Truth Social post, the US president urged the Federal Reserve to go for a full point cut, which he described as what would be a “rocket fuel” for the economy. He made this statement while also criticizing Fed Chair Jerome Powell as being too late and a “disaster.”

Trump noted that the European Central Bank (ECB) has made 10 rate cuts while the FOMC has yet to make any. As CoinGape reported, the latest ECB rate cut came on June 5, with Europe cutting interest rates by 25 bps to 2%.

In another Truth Social post, Trump again pushed for a Fed rate cut. He stated that if Powell cut, the US would greatly reduce interest rates, long and short, on debt that is coming due.

He noted that Joe Biden went mostly short-term. However, the president believes that there is “virtually no inflation” anymore. Trump even went as far as calling for a deal with the Fed, asking them to raise the rate to counter if inflation should come back.

In the meantime, he believes the logical thing to do is to cut rates, stating that it is “very simple.” Trump also declared that Powell and the FOMC’s reluctance is costing the country a fortune, as borrowing costs should be much lower.

The president’s latest call for a Fed rate cut comes just less than two weeks before the FOMC meeting, scheduled for 17 and 18. CME FedWatch data shows that there is a 99.9% chance that the Fed will keep interest rates steady between the current range of 425 and 450 Bps.

📊 Markets

On June 5, Bitcoin (BTC) experienced a significant crash to $100,000. This sudden downtrend comes on the back of Elon Musk and Donald Trump’s crash out regarding cutting the deficit. Regardless, technical analysis shows buyer strength that has pushed BTC price up by 3.40% today from the June 5 swing low of $100,305 formed at 4 pm ET. Will this bounce reduce the risks of a further crash? Will BTC price drop below $100K? Let’s find out.

Why Bitcoin Crashed to $100K?

As predicted in previous CoinGape articles, this Bitcoin crash was highly likely due to the muted 30-day implied volatility and a drop in CME futures and options open interests.

BlackRock offloading Bitcoin for Ethereum, leading to 11 consecutive days of ETH ETF inflows, could be another reason for the BTC price crash.

Markets are also considering the Circle IPO and its debut on Nasdaq as one of the reasons why liquidity may be moving out of Bitcoin and other top coins and into traditional markets.

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.

After a 22% crash since its May 13 swing high of $2.62, XRP price trades around $2.13. Despite the recent drop, as of June 6, the token is up 2.35% today. But can this recovery rally sustain? Will XRP price hold the $2 psychological level or lose it? Based on the 12-hour XRP price chart, the token appears to be in a favorable position for a recovery bounce. However, the short-term outlook remains uncertain due to Bitcoin’s position and fast-paced changes in policies from President Trump.

XRP Price Analysis: Will $2 Hold?

Since December 3, 2024, XRP has been stuck in a tight range, building value. Typically, when this happens, volatility drops until the price breaks out violently. In XRP’s case, 70% of the volume over the past 185 days was traded between $2.06 and $2.58. The rejection at the $2.58 led to a retest of the $2.06.

A show of strength in the Asian session has allowed Bitcoin to recover a portion of its losses from last night. As a result, XRP price has also triggered a 2.35% bounce from yesterday’s lowest point of $2.05. If BTC continues to climb higher, there is a good chance that Ripple’s token will follow suit.

However, investors must prepare for the possibility of a potential retest or sweep of the $2 psychological level. If such an outlook develops, it would be good for opening long positions, especially if accompanied by large liquidation spikes. This move could also knock the Relative Strength Index (RSI) into the oversold level and potentially develop a bullish divergence in the near future. This signal could also be spotted for the Awesome Oscillator (AO) index as well. Moreover, the Bollinger Bands Width indicator is showing a steady decline, reflecting that the ongoing consolidation is tightening and could be primed for an explosive breakout.

Investors should note that a breakdown of the $2 psychological level would be unlikely, considering the current crypto market outlook.

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.