Retail Bets Big on BTC While ETH Floods Binance – What It Means for Crypto’s Next Move

Key Points

1. Ethereum (ETH) deposits to Binance have continued for five consecutive days.

2. Bitcoin's Short-Term Holder (STH) Net Position Realized Cap surged from over negative $49 billion to more than $5 billion, indicating increased short-term holder activity.

3. US President Donald Trump announced Senate Republicans are finalizing a major bill aimed at consumer spending, with a deadline before July 4.

4. Elon Musk expressed concerns about increasing deficits potentially pushing the US toward global market risks, affecting traders' perception of safe-haven assets.

5. Matrixport noted Bitcoin's quiet push higher despite US equities reaching all-time highs, with expectations of a dovish Federal Reserve and potential spillover effects from Bitcoin ETFs.

6. The US dollar index (DXY) has dropped nearly 12% this year, its worst performance in 40 years, amid Fed rate-cut expectations and periods of significant dollar devaluation.