Bitcoin trades at slight discount on Binance.US as banking partners cut ties

Bitcoin (BTC) is trading at a slight discount on Binance.US following the exchange's announcement of its banking partners' decision to halt USD payment channels on June 13, amidst ongoing regulatory troubles, according to Kaiko data. Kaiko stated that BTC traded at a premium on Binance.

Timeline of Bitcoin

Bitcoin (BTC), the largest digital currency by market capitalization, appears to be facing its first pronounced recession in the United states. According to the Senior Macro Strategist for Bloomberg Intelligence, Mike McGlone, Bitcoin may be facing its first official recession in the United States.

Crypto News: In a recent televised interview on CNBC, renowned investor Cathie Wood, the CEO of Ark Invest, made a bold prediction for the future price of Bitcoin. According to Wood's analysis, the flagship cryptocurrency could surge to a staggering $1 million by 2030, with its base price currently hovering around $600,000.

Crypto news: We bring you a round-up of what went down in crypto this week. There's more bullish news from Ripple in its legal dispute with the Securities and Exchange Commission (SEC).

Bitcoin (CRYPTO: BTC) traded higher, with the cryptocurrency prices trading above the $26,600 level on Friday. Ethereum (CRYPTO: ETH) also recorded gained, trading above the key $1,800 mark this morning.

“Black Swan” author Nassim Nicholas Taleb on Thursday declared that Bitcoin (CRYPTO: BTC) is not even a suitable tool for money laundering. What Happened: In an interview at Bloomberg Invest New York 2023, Taleb called out Bitcoin as similar to a cult with a financial product.

Bitcoin edged marginally higher on Friday, as traders began to shift their attention to next week's Fed meeting. Many are expecting that the Federal Reserve will keep rates unchanged for the first time in over a year. Ethereum remains above a floor at $1,830.

On-chain data shows that Tether (USDT) sharks and whales have been rapidly growing their holdings since Bitcoin's volatility started. Tether Sharks & Whales Grow Holdings As USDT Exchange Supply Plunges According to data from the on-chain analytics firm Santiment, these large Tether holders are now carrying a total of $16 billion worth of the stablecoin.

The cryptocurrency market saw mild net inflows of $0.23 billion over the last 24 hours and currently stands at $1.11 trillion — up 0.22%. During the reporting period, Bitcoin (BTC) market cap rose 0.55% to 515.53 billion, while Ethereum's (ETH) market cap fell 0.14% to 221.42 billion.

Bitcoin Price Analysis: The crypto market continues to witness a brawl between buyers and sellers but no clear indication of a directional trend. Thus, the largest cryptocurrency-Bitcoin may see a temporary consolidation, but the short-term downtrend is still intact.

In a scathing critique of the crypto industry, Nassim Taleb, the renowned author of "Black Swan," launched a blistering attack on Bitcoin (BTC), dismissing it as a useless and dangerous phenomenon, reports Business Insider.