Bitcoin Cash fell by almost 10% on June 7, and it took a week’s time after that for the alt to recover its losses. The token was available at $614.12 on June 16, with the coin recovering by 6% in 2 days. BCH was oscillating between the $570 support and $720 resistance level.

Bank of America’s June Fund Manager Survey
Bank of America (BofA) released its June Global Fund Manager Survey this week. The survey, conducted between June 4-10, covers 224 fund managers with $667 billion under management.

The fund managers were asked about many issues of concern to investors, ranging from where the economy and markets are heading to how much cash portfolio managers are holding and which trades they see as most overdone.

“Long commodities” is now the most crowded trade, overtaking “long bitcoin” which is now the second most crowded trade. The third most crowded trade is “long tech stock,” followed by “long ESG,” “short U.S. Treasuries,” and “long euro.Despite the BTC price pullback, 81% of the fund managers surveyed still think that bitcoin is in a bubble. This is a slight increase from May when 75% of the fund managers surveyed said bitcoin was in a bubble zone. Bank of America itself has also warned about the cryptocurrency being in a bubble. The bank’s chief investment strategist said in January bitcoin was “the mother of all bubbles.”

Meanwhile, 72% of fund managers say that inflation is transitory, agreeing with what the Fed has been saying. However, 23% think inflation is permanent. Federal Reserve Chairman Jerome Powell has used the word “transitory” to describe the threat of inflation to the U.S. economy several times. Nonetheless, a number of people have indicated that they disagree with him, including famed hedge fund manager Paul Tudor Jones and JPMorgan CEO Jamie Dimon.source

After the IMF raised concerns about El Salvador adopting Bitcoin (BTC) as a legal tender last week, the World Bank has rejected any kind of help for Bitcoin implementation citing transparency and environmental concerns.On Wednesday, June 16, El Salvador’s Finance Minister Alejandro Zelaya said they are currently seeking technical assistance from World Bank to make Bitcoin a legal tender along with the existing USD.
Besides, the minister also called current negotiations of the International Monetary Fund (IMF) ‘successful’. However, the IMF has already raised legal and macroeconomic issues concerning Bitcoin adoption. In an email to Reuters, the World Bank spokesperson wrote:
“We are committed to helping El Salvador in numerous ways including for currency transparency and regulatory processes. While the government did approach us for assistance on bitcoin, this is not something the World Bank can support given the environmental and transparency shortcomings.”source

Uniswap is the world’s premier decentralized exchange and liquidity provision service, relying on an orderbook-less trading mechanism through liquidity pools. Since it’s introduction, it has facilitated billions in trading volume through it’s three iterations or version updates. It also constantly ranks as a leading revenue generating DeFi protocol, second only to the Ethereum base layer itself. Here’s how to overtake it and the description of the one trick that most DeFi projects miss.source

On Friday, June 11, 2021, data shows that Taproot could get locked-in this coming weekend, as the signal ratio is 98.3% and a touch more than 100 additional signaling blocks are needed to lock in the upcoming soft fork.

Bitcoin Upgrade Taproot Inches Toward Lock-in, Success Means Activation in November
Participants involved with the Bitcoin (BTC) network are preparing to see a softfork in November if the signaling status of “Speedy trial support for versionbits #21377” gets locked in this weekend.
According to the Github “Taproot-Activation” documentation, the Bitcoin Taproot upgrade involves an “upgrade that can be deployed as a forward-compatible soft fork.”
The upgrade also combines the “Schnorr signature scheme with MAST (Merklized Alternative Script Tree) and a new scripting language called Tapscript, Taproot will expand Bitcoin’s smart contract flexibility, while offering more privacy by letting users mask complex smart contracts as a regular bitcoin transaction.”
Bitcoiners believe the Taproot upgrade and adding the Schnorr signature scheme with MAST will benefit BTC’s privacy and scaling.source

Blockchain company Huobi Group has announced the launch of a Blockchain Assets Center to provide a standardized, streamlined process for projects seeking to list on its cryptocurrency exchange, Huobi Global.
The new business unit — led by Ciara Sun, vice-president of global business and head of listing at Huobi Group — will manage token listings and delistings, including identifying projects, assessment and evaluation, investment, new venture incubation and operations. The process will strengthen Huobi’s security protocols and reduce the risk of insider trading or front running, according to a statement.
“Historically, digital asset listings have been difficult for both new and experienced projects to navigate,” Sun said in the statement. “We’re trying to put every department in every team that’s associated with the blockchain projects in one big team so we share the same goals and we have the same vision and we can do things faster, more efficiently and also serve the projects better,” she added in a follow-up interview with Forkast.News.source

Before the summer of 2020, DeFi was hardly on anyone’s radar. This was understandable given its under-one-billion-dollar TVL at the time, which represents a market cap that even a meme coin could surpass in a matter of months. Since then, from May 2020 to May 2021, an entirely new financial infrastructure has been created, boasting spectacular growth at over 7,250%.source

Institutional investment managers bought $30.2 million worth of Ethereum (ETH) last week, bringing their total holdings to a record $13.9 billion, according to CoinShares.

Inflows into Ethereum products appears to be ramping up as investors devote greater attention and resources to the smart-contract platform. Month-to-date inflows for ETH products totaled $170 million, bringing the yearly total to $824 million. Managers now hold a combined $13.9 billion worth of ETH.source