Bitcoin Bull Run Fades While ETH ETF & Shiba Inu Advance

The crypto landscape closes another week with phenomenal developments witnessed across the broader market. While Bitcoin’s price showed signs of a potential bull season end, the Ethereum ETFs saga propelled ahead. Shiba Inu, a meme coin that has piqued the interest of many, embarked upon intriguing cryptographic developments, adding to the excitement in the market. Other global news involved the world’s first HBAR ETP and the emergence of new tokens as hot topics.

Here’s a collection of some of the top headlines for this week

Bitcoin Bull Season Fades?

Notably, concerns over the end of the Bitcoin bull season rose considerably this week as the BTC price slipped as low as the $63 mark in the past seven days. This slumping movement came primarily attributable to a stockpile of factors, including staggering outflows in BTC ETFs, macroeconomic factors, and BTC miner capitulation, among many others.

Top crypto analysts further took the stage amid this bearish turn to spotlight bearish BTC market dynamics, hinting at a potential BTC bull market end. Conversely, BTC accumulations rose substantially over the past week, birthing contrasting market sentiments.

Meanwhile, Standard Chartered emerged as the first bank ever to commence spot Bitcoin and Ethereum trading.

Ethereum ETF Filings This Week

Simultaneously, the current hot topic, ETH ETF, has seen notable developments. The crypto realm saw spot Ethereum ETF S-1 Amendments from 8 firms this week, encompassing Bitwise, Fidelity, 21Shares, Grayscale, Franklin, VanEck, iShares, & Invesco. Among these, Fidelity appears to have filed an updated form after failing to include a sponsor fee.

The broader crypto industry remains optimistic about seeing ETH ETF trading starting shortly ahead, July 2. ETH token stands firm to leveraging this opportunity, with potential price gains in the pipeline.

Also Read: Solana Exec Explains How ZK Compression Cuts On-chain Storage Cost By Over 99%

Shiba Inu (SHIB) Revolutionizes Crypto Journey

Lastly, Shiba Inu, the dog-themed meme coin, saw numerous optimistic developments this week. SHIB was reportedly added to Crypto.com’s Visa card funding options, expanding the token’s payment offerings.

In the interim, Shytoshi Kusama, Shiba Inu’s lead developer, spotlighted plans to launch a Web3 version of the card game Shiba Eternity. This mover aims to offer unique opportunities with SHIB, LEASH, and BONE, SHIB ecosystem tokens.

Additionally, the Shiba Arab Army revealed a new SHIB token-burning proposal for Binance and Coinbase. Meanwhile, the Shiba Inu token-burn mechanism continued destroying massive amounts of SHIB.

Intriguingly, Shiba Inu whales further gained attention this week, bagging billions of coins amid a turbulent trading session witnessed by the meme coin.

Other hot topics this week include the launch of the world’s first Hedera ETP, the ASI token merger, and the LayerZero (ZRO) token.

Also Read: EigenLayer’s EigenDA Unveils Whitelist Security Against Sybil Attacks

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