Bitcoin Hits New All-Time High At $107,140, Boosting Investor Confidence

Bitcoin closed the month at $107,140, marking a new all-time high for monthly closes. This steady increase, while not a sudden breakout, continues to build confidence among long-term investors, signaling a strong technical indicator for the cryptocurrency market.

On the regulatory front, the Federal Reserve Chair is expected to speak later today, and markets will be watching for any remarks related to interest rates or inflation that could influence risk assets like crypto. This anticipation adds a layer of uncertainty to the market, as any changes in monetary policy could significantly impact the value of cryptocurrencies.

One of the bigger stories gaining momentum is the growing optimism around spot ETFs for Solana (SOL), Litecoin (LTC), and XRP. Approval odds have climbed to 95%, according to prediction platforms and analysts. While not confirmed, this optimism is helping keep altcoin sentiment afloat, as investors see potential for increased liquidity and accessibility in the market.

In other news, Circle, the issuer of USDC, has applied for a national trust bank license in the United States. This move signals its intent to deepen ties with traditional financial infrastructure, potentially leading to greater integration and legitimacy for stablecoins in the broader financial system. However, analyst ZachXBT has raised concerns about Circle’s ability to prevent illicit activity involving USDC, specifically with regard to North Korea-linked wallets, highlighting the ongoing challenges in ensuring the security and integrity of digital assets.

Speaking of enforcement, the U.S. Justice Department announced charges against North Korean hackers accused of stealing nearly $1 million in crypto. Meanwhile, Spanish police arrested five individuals in connection with a $541 million fraud case targeting over 5,000 people. These developments underscore the increasing scrutiny and enforcement efforts aimed at combating illicit activities in the cryptocurrency space, as authorities work to protect investors and maintain the integrity of the market.

In terms of security, June saw 15 notable attacks, costing the industry around $111.6 million – a 56% drop compared to May. While still a concern, this decrease points to some positive trendlines in security, as the industry continues to implement measures to protect against cyber threats and ensure the safety of digital assets.

All in all, the day reflects steady development rather than major shocks. While there’s no single headline dominating the space, the mix of ETF optimism, institutional moves, and ecosystem growth shows that momentum continues to build across different sectors of the market. This steady progress, coupled with ongoing regulatory developments and enforcement efforts, suggests a maturing market that is increasingly attracting institutional investment and mainstream attention.