Kategorie: Crypto News

• XRP open interest hits $5 billion, signalling possible breakout.
• Dogecoin jumps above $0.20 as traders rotate into meme tokens.
• Analysts forecast potential highs of $137K for BTC and $12K for ETH in 2025.

The cryptocurrency market is gaining ground again in early June 2025, with Bitcoin, Ethereum, XRP, and Dogecoin all staging notable recoveries.

As of Tuesday, June 3, Bitcoin is trading around $105,000, Ethereum has pushed past $2,600, XRP is testing $2.20, and Dogecoin is holding near $0.20.

The rally follows a weekend of sharp liquidations and reflects renewed appetite among retail and institutional traders alike.

While short squeezes and technical momentum are partly behind the surge, broader macroeconomic factors and growing speculation around crypto ETFs are playing a key role in lifting sentiment.

Bitcoin holds firm above $105,000 as whales accumulate

Bitcoin’s price action has rebounded strongly since the end of May, recovering from a series of declines that wiped nearly $1 billion in open interest.

After bottoming out near $101,000, BTC reversed course with four consecutive days of gains, briefly hitting $106,560.

As of writing, Bitcoin is trading at $105,265.

Analysts attribute the rebound to ongoing whale accumulation, with on-chain data showing that large wallets have continued to absorb selling pressure during dips.

That trend, often viewed as a precursor to further rallies, has helped BTC maintain upward momentum despite broader market fatigue.

From a macro perspective, escalating geopolitical tensions and expectations around monetary easing have bolstered Bitcoin’s image as a non-correlated asset.

With central banks signalling policy shifts and the US dollar weakening slightly, Bitcoin is increasingly seen as a hedge against volatility.

Technically, Bitcoin remains supported above $103,000, with upside targets extending to $108,000 in the near term.

If buying pressure continues, models suggest a rally toward $137,000 is possible this month, while long-term forecasts still point to a potential $400,000 valuation by 2030.

Ethereum trades near $2,615, ETF speculation boosts sentiment

Ethereum has rallied over 7% in the past three days, recovering from lows near $2,430 to reach a session high of $2,650.83.

It is currently trading at under $2,610.

Ethereum’s price momentum is supported by growing speculation that the US Securities and Exchange Commission could approve a spot Ethereum ETF in the coming weeks.

In addition to the ETF buzz, the Ethereum Foundation’s recent reorganisation has sparked fresh interest in the blockchain.

A stronger focus on protocol development and staking infrastructure has drawn both institutional and retail inflows.

Ethereum remains above its key moving averages, and chart watchers are eyeing a breakout past $2,810 to trigger further gains.

However, previous attempts to breach that level have failed, suggesting that sustained bullish pressure is needed.

Some models forecast Ethereum could test $6,000 this year, with upside potentially extending to $12,000 if institutional demand increases significantly.

XRP builds pressure above $2.19 as open interest surges

XRP is showing signs of a breakout, with the token climbing nearly 7% from weekend lows and currently hovering near $2.20.

The price reached a daily high of $2.2229 on Tuesday, driven by a sharp increase in derivatives activity. XRP is trading at $2.21 currently.

Data shows open interest in XRP contracts nearing $5 billion, signalling high expectations of a decisive move.

This surge in open positions has fuelled speculation of a short squeeze if prices climb higher.

While XRP has historically seen large price movements during periods of heightened open interest, the absence of a clear catalyst—such as news on Ripple’s legal battle or an ETF approval—makes direction uncertain.

Price models suggest XRP could reach between $4.50 and $10 by year-end if conditions align, though any downside reversal may trigger sharp corrections due to the leveraged nature of current trades.

Dogecoin spikes to $0.2013 as traders rotate into meme coins

Dogecoin is back in the spotlight, reaching an intraday high of $0.2013 after three straight days of gains. It is currently trading around $0.195.

The move reflects a common pattern during broader crypto rallies, where profits from majors like Bitcoin and Ethereum are often redirected into higher-risk meme tokens.

The Bollinger Bands for DOGE are widening, indicating increasing volatility.

Traders are watching resistance near $0.2310 as the next level to break. If DOGE fails to hold support at $0.1900, a retest of $0.17 is possible.

While DOGE remains speculative, short-term technicals suggest room for further upside if market sentiment remains bullish.

What’s driving crypto prices higher today

A mix of factors is behind the rally across major tokens.

These include renewed institutional demand, technical momentum, macroeconomic concerns, and anticipation of regulatory clarity.

The possibility of more ETF approvals and the integration of crypto in traditional finance are also boosting market confidence.

The US Federal Reserve is expected to maintain a dovish stance in the coming months, which has weakened the dollar slightly and increased the appeal of digital assets.

Additionally, falling bond yields and reduced inflation risks have encouraged traders to shift towards alternative investments, including crypto.

The post Bitcoin, Ethereum, XRP and Dogecoin soar in June rally—here’s why appeared first on CoinJournal.

• Over 150 unique scam reports filed with ReportCyber during the period.
• Average loss per victim exceeded AUD 20,000.
• Crypto ATMs in Australia surged from 40 in 2022 to over 1,800 by 2025.

Australia is facing a fresh wave of crypto-related scams, this time involving the rapid expansion of cryptocurrency ATMs across the country.

New data from ReportCyber shows that Australians lost over AUD 3.1 million to scams involving crypto ATMs between January 2024 and January 2025.

The Australian Federal Police (AFP) has now issued a warning, urging greater public awareness as these frauds increasingly target vulnerable demographics, particularly those aged over 50.

With more than 1,600 crypto ATMs now operating in the country—up from just 23 in 2019—the risk of exploitation is growing in parallel with accessibility.

Over 150 reports filed, average loss tops AUD 20,000

Between January 1, 2024, and January 1, 2025, Australia’s national cybercrime reporting platform, ReportCyber, received 150 reports specifically related to crypto ATM scams. This equates to roughly one report every two and a half days.

The total estimated losses stood at AUD 3,107,600, with an average loss of more than AUD 20,000 per incident, according to the AFP.

Authorities suggest that these numbers may only represent a fraction of the real impact. Many victims do not report their cases due to embarrassment, unawareness, or difficulty navigating the reporting process.

AUSTRAC, the national financial intelligence agency, revealed that around AUD 275 million flows through cryptocurrency ATMs annually in Australia.

A significant portion of that volume is linked to fraudulent activity, although the exact figure remains unquantified.

Lack of regulation, rising usage worsen risk

Crypto ATMs, often situated in easily accessible places such as convenience stores or next to children’s vending machines, offer convenience at the cost of security.

Bitcoin’s irreversible nature and the low identification requirements of many machines make them ideal tools for scammers.

Unlike traditional bank transactions, once crypto is sent via an ATM, there is virtually no way to recover the funds.

The problem is not isolated to Australia. In the US, the Michigan Attorney General’s Consumer Protection Division has raised similar alarms about Bitcoin ATM scams targeting older adults.

In Canada, authorities have previously flagged these machines as potential conduits for money laundering. The UK prosecuted an individual last year for operating an illegal Bitcoin ATM.

Despite global efforts to crack down on misuse, regulations governing these machines remain patchy.

Without mandatory Know-Your-Customer (KYC) procedures, scammers can exploit the anonymity and speed of crypto transfers to move illicit funds quickly and invisibly.

Scammers prey on urgency, fake officials, and emotional manipulation

Crypto ATM scams often follow well-established social engineering techniques.

The AFP highlights that scammers typically contact victims posing as government officials, bank staff, or tech support agents.

Some victims are lured through romance scams, investment promises, or job offers, often involving intense emotional manipulation and pressure to act urgently.

The victim is then instructed to withdraw cash and deposit it into a crypto ATM, often while on a live call with the scammer.

Fraudsters sometimes claim the transaction is necessary to “secure accounts” or prevent legal action.

These tactics exploit both digital illiteracy and psychological vulnerability, especially among seniors.

To combat these scams, the AFP and AUSTRAC recommend heightened public awareness and better education about cryptocurrency basics.

As Bitcoin’s value continues to rise and ATM numbers grow, experts warn that the issue could worsen without coordinated regulatory intervention.

The post Crypto ATM scams in Australia cause over AUD 3.1 million in losses appeared first on CoinJournal.