Bitpush weekend news review:
[Fed Mester: It may take until 2026 to reach an inflation rate of 2%]
Loretta Mester, FOMC voting member in 2024 and president of the Cleveland Fed, said in an interview with Bloomberg TV that the lower inflation rate in May is good news, but the central bank needs to "watch this situation continue for a while" before cutting interest rates. Therefore, there is still a lot of work to be done to gain confidence in fighting inflation. The median economic forecast is close to its view of the economy. It is hoped that there will be a few more months of similar inflation data. It may take until 2026 to reach an inflation rate of 2%.
[Deribit: Ethereum ETF timeline is advanced and certainty increases. Now is a great opportunity to buy call options]
Deribit published an analysis on the X platform stating that Federal Reserve Chairman Jerome Powell’s post-CPI speech strengthened the policy stance, leading to bearish sentiment that once again pushed down cryptocurrency prices.
However, there was optimism about the Ethereum ETF timeline, with influential people providing favorable news about the approval of the S1 ETH ETF, which brought the timeline forward and brought greater certainty, and traders reacted quickly by buying $3,500-3,700 call options expiring on June 21.
Deribit said that currently is an excellent opportunity to buy call options, as spot prices are low, short positions are many, bullish tilt is suppressed, and implied volatility is lower than realized volatility.
Cardano will hand over control of $681 million in treasury funds to the community
The Cardano community will gain control of treasury funds worth more than $681 million, the eighth largest in the crypto space according to TapTools.
Funded by transaction fees and block rewards, Cardano will support the development of the ecosystem and ensure sustainability. The project's roadmap features a three-tier governance structure: the Cardano Foundation, Input Output Global (IOG) (formerly IOHK), and EMURGO. These entities are responsible for overseeing development, research, and commercial activities, respectively.
The funding handover coincides with the upcoming Chang fork, a major upgrade that will transition Cardano to a fully decentralized blockchain ecosystem. The Cardano Chang fork upgrade is expected to be completed in June.
[Bloomberg ETF analyst: It is predicted that by 2035, the global asset size of ETFs may reach 35 trillion US dollars]
Bloomberg analyst Eric Balchunas wrote on the X platform that he predicts that by 2035, the global asset size of Ethereum may reach 35 trillion US dollars (three times the current 13 trillion US dollars), based on a 10% compound annual growth rate (17% in the past decade and 25% ten years ago). Their low cost, intraday liquidity, tax efficiency, flexibility, etc. will continue to attract investor cash (and dealer trading volume), leading to more new products, innovative designs and more sales staff.
Structural changes overseas are favorable to ETFs in the long term, and the MF share class in the U.S. will add another stream of cash inflows. Tokenization may also help the development of ETFs.
[Arthur Hayes: Dogecoin ETF may be launched at the end of this cycle]
BitMEX founder Arthur Hayes and Real Vision CEO Raoul Pal recently shared their insights on the potential of a Dogecoin ETF on the Coin Bureau YouTube podcast.
Arthur Hayes said that the Dogecoin ETF may be launched at the end of this cycle, and said that his prediction is based on the substantial growth rate of doge-themed meme coins over the years, highlighting Dogecoin's status as the oldest meme coin in the cryptocurrency field, giving it an advantage over other meme-based cryptocurrencies.
Pal also agrees with the BitMEX founder’s prediction that a Dogecoin ETF will appear at the end of the market cycle. He expressed strong support for a Dogecoin ETF and discussed the possibility with Jan van Eck, CEO of investment management firm and spot Bitcoin ETF provider VanEck.
[Fed Kashkari: FOMC is expected to cut interest rates near the end of the year]
Kashkari of the Federal Reserve said that the FOMC is expected to cut interest rates near the end of the year. The Fed is in a strong position and can take its time and observe the data; the job market is performing better than expected; the labor market may cool further, and hopefully the decline will be moderate.
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