hodler

4 Jun 2026, 13:42

Standard Chartered’s Kendrick keeps $100,000 Bitcoin call amid crypto turmoil

Geoffrey Kendrick, Global Head of Digital Assets Research at Standard Chartered and one of the cryptocurrency industry's most outspoken supporters, has reaffirmed his forecast that bitcoin will reach $100,000 by the end of next year despite a sharp market downturn that he described as a difficult period for digital assets. Kendrick's comments came after a challenging week for the cryptocurrency market, during which bitcoin fell more than 15% from levels seen earlier in the week. The decline followed a disclosure by Michael Saylor’s Strategy, the largest corporate holder of bitcoin, that it had sold a portion of its holdings for the first time since 2022. Kendrick calls recent market action ‘Painful’ In a note to clients, Kendrick acknowledged the severity of the recent selloff. Bitcoin has now lost more than half of its value since reaching a peak in October last year. The decline has occurred even as the administration of US President Donald Trump has implemented policies viewed as supportive of the cryptocurrency industry. Despite the weakness, Kendrick said he remains focused on the longer-term outlook for the asset. Risks remain if Bitcoin calls further Kendrick warned that additional selling pressure could emerge if Bitcoin drops below the $60,000 level. However, he argued that the cryptocurrency’s significant underperformance relative to equities this year may reduce the amount of speculative positioning that could still be unwound. Bitcoin was last trading at around $62,540. The cryptocurrency has fallen approximately 30% so far this year. By comparison, the S&P 500 index has gained 10.4% during the same period. According to Kendrick, the weaker performance relative to traditional financial markets could ultimately help stabilise the market by reducing the number of remaining bullish positions vulnerable to liquidation. Long-term optimism remains intact While acknowledging near-term challenges, Kendrick reiterated his conviction in bitcoin’s long-term trajectory. "When we look back at the end of 2026 with bitcoin at $100k, we will say this was the buying zone we all wanted," he said. The strategist also expects Strategy to return to purchasing Bitcoin aggressively. He noted that the company previously resumed buying after selling part of its holdings in the past. Strategy sale draws market attention Strategy’s bitcoin holdings have long been regarded as a reflection of Michael Saylor’s confidence in the cryptocurrency sector. Saylor has been among bitcoin’s most prominent advocates and has frequently encouraged investors to maintain their exposure to the asset. The company disclosed on Monday that proceeds from the bitcoin sale would be used to fund distributions on its preferred stock. The move, however, attracted criticism from some users on social media. Strategy’s shares have declined roughly 17% in 2026. The stock had gained nearly 14% between January and October of the previous year before later declining alongside the broader fall in bitcoin prices. Despite the recent turbulence, Kendrick’s latest comments indicate that he continues to view the current downturn as a temporary setback rather than a change in bitcoin’s longer-term outlook. The post Standard Chartered’s Kendrick keeps $100,000 Bitcoin call amid crypto turmoil appeared first on Invezz

4 Jun 2026, 13:40

US Dollar Index Strength Fueled by Higher Yields and Fed Pricing, Deutsche Bank Says

BitcoinWorld US Dollar Index Strength Fueled by Higher Yields and Fed Pricing, Deutsche Bank Says The US Dollar Index (DXY) continues to find support from elevated bond yields and market pricing of Federal Reserve policy, according to a recent analysis from Deutsche Bank. The bank’s strategists note that the current macro environment is providing a tailwind for the greenback, as investors adjust to a higher-for-longer interest rate scenario. Yields and Fed Expectations Drive Dollar Demand Deutsche Bank’s assessment points to a clear correlation between the recent climb in US Treasury yields and the dollar’s strength. As the market recalibrates expectations for the Fed’s next moves, with rate cuts now seen as less imminent than previously anticipated, the dollar has benefited from the resulting yield advantage over other major currencies. The bank’s analysis suggests that this dynamic is likely to persist as long as inflation data remains sticky and the labor market stays resilient. Market Context and Implications The DXY has been trading near multi-month highs, reflecting a broader shift in investor sentiment. The ‘higher for longer’ narrative has gained traction following a series of stronger-than-expected economic reports, which have reduced the urgency for the Fed to ease policy. This has not only supported the dollar but also pressured risk assets and emerging market currencies. For forex traders, the key question is whether the dollar’s rally has further room to run or if it is nearing a peak as the market fully prices in the current rate outlook. What This Means for Investors For readers following currency markets, the Deutsche Bank view reinforces the importance of monitoring US economic data releases and Fed commentary. A sustained dollar rally could impact corporate earnings for multinational companies, influence commodity prices (which are typically priced in dollars), and affect the performance of international equity portfolios. The bank’s analysis provides a framework for understanding these interconnected factors, but investors should remain cautious about extrapolating current trends too far into the future, given the potential for sudden shifts in economic data or geopolitical events. Conclusion Deutsche Bank’s analysis highlights the central role of US interest rate expectations in driving the dollar’s recent strength. While the outlook remains supportive for the greenback in the near term, the sustainability of this trend will depend on incoming economic data and the Fed’s policy response. The current environment underscores the importance of staying attuned to yield differentials and central bank guidance for anyone exposed to currency markets. FAQs Q1: What is the US Dollar Index (DXY)? The US Dollar Index (DXY) measures the value of the US dollar against a basket of six major foreign currencies: the euro, Japanese yen, British pound, Canadian dollar, Swedish krona, and Swiss franc. It is a widely used benchmark for the dollar’s overall strength in global markets. Q2: How do higher bond yields affect the dollar? Higher US Treasury yields make dollar-denominated assets more attractive to foreign investors, increasing demand for the dollar. This is because investors can earn a higher return on US bonds compared to bonds from other countries, leading to capital inflows that push the dollar higher. Q3: What does ‘higher for longer’ mean in the context of Fed policy? ‘Higher for longer’ refers to the expectation that the Federal Reserve will keep interest rates elevated for an extended period, rather than cutting them quickly. This scenario typically supports the dollar by maintaining a yield advantage over other currencies and signaling confidence in the US economy’s resilience. This post US Dollar Index Strength Fueled by Higher Yields and Fed Pricing, Deutsche Bank Says first appeared on BitcoinWorld .

4 Jun 2026, 13:35

Sterling Today: Pound Edges Higher But Gains Look Fragile Before Payrolls

BitcoinWorld Sterling Today: Pound Edges Higher But Gains Look Fragile Before Payrolls The British pound edged slightly higher against the US dollar in early European trading on Friday, but the uptick appears tentative as markets brace for the release of the latest US nonfarm payrolls report. Traders are weighing the potential for a stronger-than-expected jobs number to reinforce the Federal Reserve’s hawkish stance, which could quickly reverse Sterling’s modest gains. GBP/USD Struggles for Direction Sterling traded near $1.2650 at the time of writing, recovering from a session low of $1.2620. The move higher was largely attributed to short-covering and position adjustments ahead of the payrolls data, rather than any fundamental shift in sentiment toward the UK economy. The currency remains under pressure from persistent concerns over domestic inflation and the Bank of England’s cautious approach to rate cuts. Market participants are closely watching the 1.2600 support level. A break below that could open the door to a test of the 1.2500 region, a level not seen since mid-November. On the upside, resistance is seen at $1.2700, followed by the 50-day moving average near $1.2750. US Payrolls in Focus The US nonfarm payrolls report, due at 13:30 GMT, is expected to show the economy added 200,000 jobs in the latest month, with the unemployment rate holding steady at 3.7%. A print significantly above consensus would likely boost the dollar, as it would reduce the urgency for the Federal Reserve to cut interest rates. Conversely, a weak number could trigger a relief rally for Sterling, though analysts caution that any upside may be limited given the pound’s broader vulnerabilities. “The market is pricing in a high degree of uncertainty,” said a senior currency strategist at a London-based brokerage. “Sterling is caught between a hawkish Fed and a cautious BOE. Even if payrolls miss, we are unlikely to see a sustained move higher without a clear catalyst from the UK side.” Why This Matters for Traders For forex traders, the payrolls release is the single most important data point this week. A strong dollar could weigh on Sterling and other risk-sensitive currencies, while a weak number might provide temporary relief. However, the pound’s fragility means that any gains could be short-lived, especially if UK economic data continues to disappoint. The UK’s services PMI for March, released earlier this week, came in below expectations, reinforcing the view that the economy is losing momentum. Combined with sticky services inflation, the BOE faces a difficult balancing act, which is keeping Sterling under structural pressure. Conclusion Sterling’s modest recovery ahead of the US payrolls report should be viewed with caution. The currency remains vulnerable to a sharp reversal if the data supports a hawkish Fed. Traders should monitor the 1.2600 support level closely, as a break below could signal further downside in the near term. For now, the pound’s trajectory hinges more on external factors than domestic fundamentals. FAQs Q1: Why is Sterling fragile ahead of US payrolls? A: The pound is vulnerable because the US jobs report could strengthen the dollar if it comes in strong, reinforcing expectations that the Federal Reserve will keep rates higher for longer. Sterling also lacks strong domestic catalysts, making it sensitive to external data. Q2: What is the key support level for GBP/USD? A: The immediate support is at $1.2600. A break below that level could lead to a test of $1.2500, which has not been seen since mid-November 2024. Q3: How might a weak US payrolls number affect Sterling? A: A weak payrolls number could trigger a short-term relief rally for Sterling, as it would reduce the likelihood of a hawkish Fed. However, analysts caution that any gains may be limited due to the pound’s underlying vulnerabilities related to UK economic data and BOE policy uncertainty. This post Sterling Today: Pound Edges Higher But Gains Look Fragile Before Payrolls first appeared on BitcoinWorld .

4 Jun 2026, 13:26

Is Cardano Over? Charles Hoskinson Warns Of A “Wave Of Failures” — And His Own Community Is Furious

Charles Hoskinson, co-founder of Cardano and Input Output Global, sparked one of the most uncomfortable public debates in the blockchain’s history this week — warning in a video posted on YouTube that the second half of 2026 will bring a wave of project failures, forced consolidation, and DeFi shutdowns across the ecosystem, as ADA fell below $0.20 for the first time in more than five years. The catalyst was the June 2 announcement by TapTools — Cardano’s most widely used analytics and infrastructure platform, serving over one million users and powering backend data for hundreds of Cardano-native token protocols across four years — that it will wind down operations within two weeks. The closure follows the departure of five senior team members including both co-founders, the COO, the CTO, and a backend developer who had stepped into technical leadership after the founders left, per TapTools’ official statement. Infrastructure costs, software development expenses, and support obligations had become impossible to sustain, the company said. TapTools added it remains open to acquisition discussions. Hoskinson’s Warning — And The ADA Fallout Responding in a video on the same day, Hoskinson framed TapTools’ exit not as an isolated event but as a leading indicator of deeper ecosystem stress. A substantial portion of older Cardano projects are no longer in an investable state, he said — and the H2 2026 environment will force many into the same position. He pointed to JX Door’s earlier collapse as a warning sign that went unheeded, and acknowledged that a treasury-funded index he had proposed to backstop struggling ecosystem projects never materialized. “I came up with the plan of an index. It did not get executed,” he said in the video, per the YouTube posting, placing partial responsibility on Cardano’s governance community for failing to act when opportunities were available. Hoskinson subsequently posted on X that he is “taking a break” — three words that landed heavily given the timing. The Community Fires Back The response from prominent voices in the crypto community was swift and pointed. Andreas Svanevik (@ASvanevik), CEO of Nansen, addressed Hoskinson’s implicit question about what he could do to help directly: “It’s not about what he can do NOW,” Svanevik wrote on X. “The problem is he sold Cardano as something it never was. And people believed him. Now they will all suffer the consequences together.” The post drew significant engagement and amplified a sentiment that had been building in the community for months — that Hoskinson’s long-standing promises about Cardano’s institutional potential and developer adoption had set expectations the network could not match. @Pledditor’s post on X added further community context to the criticism, reflecting frustration that had been building across ADA holders as the ecosystem continued to lose ground. The Structural Picture The numbers behind the debate are difficult to argue with. Cardano’s total value locked stands at approximately $123.85 million — placing it 28th by chain TVL on DeFiLlama, behind Stellar, NEAR, Aptos, and Mantle, and roughly two orders of magnitude below Ethereum’s $39.9 billion. The 2026 Cardano Summit was canceled after the community voted down treasury funding. Engineering proposals for 2026 were cut to $46.8 million from $97.5 million the prior year. The van Rossem hard fork was postponed to allow further testing. ADA is currently trading at approximately $0.20 — its lowest level in more than five years. The question Hoskinson’s own comments raise — whether Cardano can reverse a trajectory that its own founder is now publicly describing in near-apocalyptic terms — is one the ecosystem has no clean answer to heading into what he himself calls the hardest half of the year. Cover image from Grok, ADAUSD chart from Tradingview

4 Jun 2026, 13:24

CleanSpark post-May results: Names new SVP of Finance, BTC holdings rise to 13.47K

More on CleanSpark CleanSpark: Up Over 100%, But The Fundamentals Keep Getting Uglier CleanSpark: Unconvincing Pivot To AI Infrastructure CleanSpark, Inc. (CLSK) Q2 2026 Earnings Call Transcript Most and least shorted tech stocks over $2B market cap as of May 5 of 7 proxy stocks trail BTC's 12% fall: Investors piled into these 6 miner stocks

4 Jun 2026, 13:18

Ripple-linked XRP sinks 7% to four-month lows

XRP fell another 7% after losing key support levels, with traders weighing growing institutional demand against one of the token's weakest technical setups in months.