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MEXC Daily News (June 19)｜Fed Holds Interest Rates Steady, Says Monetary Policy Still Needs to Be "Sufficiently Restrictive"

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Jun 19, 2025MEXC

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1. Market Overview

According to MEXC data, Bitcoin (BTC) recorded a 24-hour change of -0.09%, currently trading at 104,697.28 USDT.

Heatmap of the top 10 USDT-margined perpetual contract trading pairs on the MEXC platform.

For more information on cryptocurrency prices and macroeconomic trends, please visit MEXC Markets.

According to data from Coinglass, total liquidations across the crypto market reached $224 million in the past 24 hours, with $147 million in long positions and $77.3 million in short positions being wiped out.

For Bitcoin, long liquidations amounted to $31.55 million, while short liquidations totaled $14.97 million. For Ethereum, $35.61 million in longs and $29.01 million in shorts were liquidated.

Additionally, a total of 95,726 traders were liquidated globally over the past 24 hours. The largest single liquidation order occurred on Binance’s BTCUSDT pair, valued at $1.2763 million.

3. Industry Analyst Insights

3.1 Analyst: Bitcoin Retests 50-Day Moving Average — Failure to Hold Could Lead to Drop Below $100K

According to CoinDesk analyst and Chartered Market Technician Omkar Godbole, Bitcoin has once again pulled back to its 50-day Simple Moving Average (SMA)—a level that has provided strong support and triggered rebounds twice this month. This latest retest could offer bulls an opportunity to establish a renewed uptrend, using the 50-day SMA as a springboard for another rally.

However, if this support fails to hold, it could trigger intensified selling pressure and potentially push Bitcoin’s price below the key $100,000 level.

From a technical standpoint, bearish momentum appears to be gaining strength. The rebound from the 50-day SMA has been weakening: on June 5, Bitcoin bounced over $10,000 after testing the average around $100.5K; on June 17, the second retest only resulted in a modest rise from $103K to $109K.

Adding to bearish concerns, a doji candlestick formed over the past week suggests waning bullish momentum above the $100K mark. For Bitcoin to revive its short-term bullish outlook, a strong breakout above the $110K resistance—accompanied by significant trading volume—is essential.

4. Industry News

4.1 Fed Chair Powell: Monetary Policy Still Needs to Be “Sufficiently Restrictive”

In a recent press conference, Federal Reserve Chair Jerome Powell stated that given the current inflation landscape, monetary policy still needs to place some degree of restraint on the economy. “Rates are not very high at the moment,” Powell said. “Policy could be described as moderately, or even modestly, restrictive — more likely ‘sufficiently restrictive’ right now.” He added, “If you look at how the economy is performing, it doesn’t exactly look like it’s under ‘very tight monetary policy.’”

4.2 U.S. Treasury Secretary: Crypto Is Not a Threat to the Dollar; Stablecoins Could Reinforce Dollar Dominance

U.S. Treasury Secretary Bessent posted on X that “crypto does not pose a threat to the U.S. dollar. In fact, stablecoins can reinforce its global dominance.” She called digital assets one of the most important phenomena in the modern world — yet often overlooked by governments. She emphasized the current administration’s commitment to making the U.S. a hub for digital asset innovation, adding that the GENIUS Act is a significant step toward that goal.

4.3 Reporter: U.S. House Plans to Combine CLARITY and GENIUS Bills, Aiming for August Deadline

According to journalist Eleanor Terrett on X, the U.S. House of Representatives is considering advancing the CLARITY Act (focused on market structure) alongside the GENIUS Act (focused on stablecoins). The goal is to align with the August legislative deadline set by former President Trump.

5. Market Highlights

5.1 Coinbase Launches “Coinbase Payments” in Partnership with Shopify

According to an official announcement, Coinbase has launched “Coinbase Payments,” a stablecoin-based payment solution tailored for e-commerce platforms. Built on the Base network, it enables 24/7 instant USDC transactions while abstracting away the complexities of blockchain integration. The service allows platforms to offer global instant USDC payments to merchants with no additional setup required. Coinbase has partnered with Shopify, enabling millions of merchants to accept USDC seamlessly. The solution includes a three-layer architecture:

Stablecoin Checkout (consumer-facing),
Ecommerce Engine (merchant-facing),
Commerce Payments Protocol (on-chain execution).

5.2 Ohio’s “Bitcoin Rights” Bill Passes House Vote, Moves to Senate

As reported by Cointelegraph, Ohio’s “Bitcoin Rights” bill (HB 116) has passed a vote in the House of Representatives by a margin of 68 to 26. The legislation now advances to the state Senate for further consideration.

5.3 Nasdaq-Listed Prenetics Buys $20M in Bitcoin

Healthcare company Prenetics Global, listed on the Nasdaq, announced it has made an initial $20 million Bitcoin investment via Kraken, purchasing 187.42 BTC at an average price of $106,712. The company stated it has board approval to continue increasing its Bitcoin holdings, aiming to become one of the largest BTC-holding healthcare firms globally.

5.4 UK Plans to Implement Restrictive Bank Crypto Exposure Rules by 2026

David Bailey, Executive Director of Prudential Policy at the Bank of England, announced that the UK plans to implement stricter crypto asset exposure rules for banks by 2026 to safeguard financial stability. The proposed rules would adopt recommendations from the Basel Committee, potentially limiting exposures to high-volatility assets like Bitcoin to under 1%. Bailey emphasized that a more conservative approach to crypto risk is appropriate at this stage.

6. Project Updates

1）Nobitex: The tech team proactively transferred assets from hot wallets to safeguard user funds.

2）OpenAI: Co-founder hints that GPT-5 may launch as early as this summer.

3）FalconX: Sources say the firm has initiated preliminary talks for a potential IPO, possibly as soon as this year.

4）Magic Newton Foundation: Will release the NEWT tokenomics and disclosures next week.

5）Polygon: Co-founder and several team members have spun off to launch a standalone zero-knowledge project called ZisK.

6）DragonSwap: Preparing to issue its native DRG token; annualized trading volume has surpassed $1 billion.

7）Pudgy Penguins: Launches P2E game “Pengu Clash” on the TON blockchain.

8）Warden: Will allocate 2.5% of WARD token supply to support the KaitoAI ecosystem.

9）Plume: Announces plans to enter the U.S. market, with details to be released soon.

10）Ethena Labs: Partners with Securitize and BlackRock to launch USDtb liquidity smart contracts.

7. Project Funding Updates

1）BitVault, a Bitcoin-native DeFi protocol, raised $2 million in a seed round with participation from GSR, Gemini, and others.

2）Uptopia, a game launch platform built on Base, secured $4 million in funding led by Pantera Capital.

3）Bitdeer has completed a $330 million convertible note issuance. The funds will be used for R&D on SEALMINER mining rigs and data center expansion.

4）TAC, an EVM-compatible blockchain within the TON ecosystem, raised $11.5 million in funding.

5）Compute Labs and NexGen Cloud jointly launched a public treasury, raising $1 million in the first phase.

6）Blockchain-based trading card game Wildcard raised $9 million, co-led by Arbitrum Gaming Ventures and Paradigm.

7）Nook, founded by a former Coinbase engineer, secured $2.5 million in funding.

8）BitVault raised $2 million in a seed round for its Bitcoin DeFi protocol.

9）Uptopia closed a $4 million round, led by Pantera Capital.

10）SaturnX, a stablecoin-based cross-border payments infrastructure project, raised $3 million in a seed round led by White Star Capital.