In recent developments, the leading cryptocurrency, Bitcoin
$107,682, has experienced a downward shift, creating ripples across the digital currency landscape. Investors are eagerly anticipating announcements regarding tariffs at the G7 summit, which could potentially influence market direction. Bitcoin is currently valued at $107,600. Meanwhile, altcoins such as AVAX and ADA are experiencing losses approaching 5% as the trading day progresses. The current status of cryptocurrency ETFs remains a topic of keen interest among market participants.
Forecasts for Cryptocurrencies
As the day unfolds, significant statements are expected from European Central Bank officials, potentially affecting crypto prices based on perceived opportunities. Later in the day, the United States is set to release producer inflation data, with a forecasted headline PPI increase of 2.6%, up from the previous month’s 2.4%. Such an increase may signal negatively for personal consumption expenditure data due at the month’s end, potentially leading to market declines before the U.S. market opens.
No major developments are expected Saturday. However, the G7 summit, scheduled for June 15-17, presents an opportunity for countries to solidify tariff agreements with the United States. With resolutions reached with China, many nations are optimistic about reaching a consensus with the U.S., potentially fostering a constructive environment.
As the day progresses, any continuation of Bitcoin closing below $107,800 might trigger further losses in altcoins. In the Middle East, details of emerging developments remain unclear. Explicit statements from U.S. officials regarding their concerns could either alleviate or amplify the apprehensions surrounding cryptocurrencies.
Cryptocurrency ETF Data
Since the exits on June 5, BTC ETF inflows have persistently increased. The confirmation of the China accord by Trump and favorable CPI data resulted in a net inflow of $164.6 million. Currently, the week’s net inflows are nearing $1 billion. However, today’s market opening has brought risks of outflows due to geopolitical tensions. If negativity prevails, increased losses may be evident by the end of the day.
ETH ETFs have seen consistent net inflows, with entries increasing significantly. Yesterday’s price movement exceeding $2,800 resulted in a net inflow of $240 million in the ETF space. Ethereum 
$2,756 inflows have surpassed Bitcoin, with the largest entries from BlackRock clients. Interest remains strong on BlackRock’s end for both BTC and ETH, providing positive momentum for the market as a whole.
