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Ethereum Floods Exchanges As Bitcoin Remains Unshaken: Market Braces For Volatility
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Ethereum Floods Exchanges As Bitcoin Remains Unshaken: Market Braces For Volatility

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Ethereum is navigating renewed volatility after weeks of relentless gains and bullish momentum. The world’s second-largest cryptocurrency surged to its highest levels in years, but bulls are now locked in a battle to defend the $4,200 mark. This price point has emerged as a crucial short-term support, with institutional buyers continuing to accumulate ETH despite recent turbulence in broader markets.

What stands out in this phase is Ethereum’s exchange inflow activity compared to Bitcoin. Over the past month, the two assets have displayed sharply different patterns. While Bitcoin’s inflows have remained relatively moderate, signaling stability and limited selling pressure, Ethereum has seen a significant uptick in coins moving onto exchanges.

This divergence suggests a more dynamic market structure for Ethereum. Rising inflows could indicate profit-taking by long-term holders, or repositioning by large investors preparing for volatility or upcoming catalysts in the ETH ecosystem. Still, institutional interest, alongside strengthening fundamentals such as declining supply on exchanges, continues to support Ethereum’s long-term outlook. Traders now watch closely to see if ETH can hold $4,200 and stabilize for another leg higher.

Bitcoin vs. Ethereum: Divergence in Exchange Inflows

According to on-chain data from CryptoQuant, Bitcoin (BTC) and Ethereum (ETH) are showing a clear divergence in exchange inflows, signaling very different dynamics at play in the market. Bitcoin inflows have remained moderate, fluctuating between 12,000 and 70,000 BTC per day.

While there have been brief spikes in mid-July and around August 1st, these movements have not persisted long enough to suggest a broader trend. This steadiness implies that BTC holders are not rushing to exchanges, which reduces immediate selling pressure. It also reinforces the idea that sentiment around Bitcoin remains relatively stable despite recent volatility in price action.

Ethereum, however, is telling a different story. Over the past several weeks, ETH inflows have surged significantly, with daily exchange inflows repeatedly climbing above 2 million ETH in mid-August and peaking near 2.6 million ETH. This marks a sharp increase compared to late July, when inflows often sat below 1.5 million ETH.

Ethereum Exchange Inflow | Source: CryptoQuant

Such elevated activity suggests large-scale repositioning among major holders or increased profit-taking following ETH’s strong rally. The data highlights that Ethereum is entering a more active trading phase, potentially introducing short-term selling pressure that could influence price direction.

The divergence is striking: Bitcoin inflows suggest relative calm, while Ethereum inflows signal heightened market activity. This imbalance means traders should watch ETH closely, as sustained exchange inflows could either spark a corrective pullback or serve as a stepping stone for a renewed rally, depending on how the market digests the additional liquidity.

Technical Details: Key Price Levels

Ethereum’s recent price action shows a notable retracement following weeks of strong bullish momentum. After peaking near $4,790, ETH has pulled back to around $4,272, reflecting an 11% decline. This move has brought the price back toward a critical support zone at $4,200, where bulls are currently attempting to defend against further downside pressure.

ETH consolidates around key levels | Source: ETHUSDT chart on TradingView

The chart highlights that Ethereum remains well above its key moving averages (50, 100, and 200-day), which are all trending upward and reinforcing a broader bullish structure. Despite the sharp retracement, the longer-term trend still favors buyers, as ETH has maintained higher highs and higher lows since its reversal earlier this year.

A breakdown below $4,200 zone could open the door to $3,800–$3,900, while a successful defense could set the stage for another attempt at the $4,800–$5,000 region. Overall, Ethereum’s chart continues to show bullish strength, though volatility remains high.

Featured image from Dall-E, chart from TradingView

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Venice Braces for Jeff Bezos and Lauren Sanchez's Wedding
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Venice Braces for Jeff Bezos and Lauren Sanchez’s Wedding

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The lavish wedding between Amazon founder Jeff Bezos and his partner Lauren Sanchez is scheduled for June 26-28 in Venice, Italy. For months, however, protests against the event have taken place in the city, intensifying in recent days with the “No Space for Bezos” campaign—which refers to his aerospace investments—over the social and environmental impacts of the wedding, which will occupy much of the historic lagoon center that’s already under pressure from high tourist flow.

What We Know About the Event

The three-day celebration promises unprecedented pomp, situated among historic buildings, luxury yachts, and international VIPs. Three major events are already scheduled: the exclusive gala evening on June 26 at the Lido of Venice, the exchange of vows the following day in the Teatro Verde on the Island of San Giorgio Maggiore, and the grand finale on June 28 that will take place in the sixteenth-century Scuola Grande della Misericordia.

The guest list for the Bezos-Sanchez weddings includes Microsoft founder Bill Gates, TV host Oprah Winfrey, and actors including Leonardo DiCaprio, Barbra Streisand, Eva Longoria, Orlando Bloom, and Robert Pattinson.

Exclusive private parties are also planned at secret locations in the smaller islands of the lagoon, including Burano, Giudecca, and Sacca Sessola. It is an event that will surely leave its mark on Venice, including in terms of environmental impact and the possible inconvenience it could create for the city’s transit infrastructure.

80 Jets and Over 30 Private Water Taxis

The guests will arrive on 80 private jets and travel aboard more than 30 already reserved water taxis, yachts, and gondolas.

According to some official sources, flights from New York, Los Angeles, London, Paris and Dubai are planned. Not to mention the luxury yachts coming to Venice, with moorings already planned between the Maritime Station, Punta della Dogana, San Basilio, and Riva degli Schiavoni.

Among these is Bezos’s own majestic vessel, Koru, the 417-foot-long superyacht that cost $500 million, along with its 246-foot support vessel Abeona, equipped with a helicopter deck and dedicated staff, although there is still no confirmation that it will enter the lagoon.

The only yacht already docked as of Tuesday is the M’Brace of legendary basketball player Michael Jordan, who arrived with his wife. Between 30 and 50 water taxis have been reserved full-time for all three days of the event, each of which will cost the bride and groom up to 400 euros an hour.

For or Against

The grand celebrations have divided public opinion. According to some, the enormous expenses for the organization of Bezos’ wedding could have a positive impact on the territory, going to finance hotels, transportation, catering and exclusive locations. The Washington Post, owned by Bezos, has declared that about 80 percent of products and services come from local Venetian suppliers.

But at what cost? The other side of the coin includes a collective of activists and residents who the “No Space for Bezos” campaign months ago, denouncing the spectacularization of the city at the expense of residents. The protesters are drawing up several plans to block roads and waterways. Among the reasons for the protest is the environmental impact that the mass mobilization of so many vehicles may have on the lagoon city, which has already been battling overcrowding caused by tourists.

However, the City of Venice has given reassurances that the marriage between Jeff Bezos and Lauren Sanchez will not cause “any disruption for the city, its residents, or tourists.” Over the years, in fact, Venice has successfully handled international events even more impactful than this one, such as the G20 Economy, the G7 Justice, bilateral state meetings, and the Art, Architecture, and Cinema Biennials. The organizers, the municipality then specifies, “have not booked an excessive number of gondolas or water taxis, as read in the newspapers, as the interest is to ensure that the city functions normally, for everyone, without any disturbance to anyone.”

This story originally appeared on WIRED Italy and has been translated from Italian.



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Xbox Braces For More Mass Layoffs In Restructuring
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Xbox Braces For More Mass Layoffs In Restructuring

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Image: Microsoft

Microsoft’s gaming business is seemingly in for another round of mass layoffs. The fresh cuts would be coming just as Xbox seems to be in full retreat from its long-standing console hardware business as it invests more in Windows gaming and bringing first-party exclusives to PlayStation 5.

Why People Are Rushing To Sell Their Xbox Series X To GameStop Right Now

Bloomberg reports that another big layoff, the fourth in the tech giant’s gaming division in the last 18 months, is on its way before the end of the fiscal quarter this month. Managers are apparently expecting “substantial cuts” across Xbox, though it’s not yet clear which teams or studios might be hit hardest. This comes as Microsoft is already in the midst of laying off thousands across its sales departments.

The recent bloodletting began at Microsoft in January 2024 with nearly 2,000 layoffs across Bethesda, Xbox, and Activision Blizzard. Studio closures at Tango Gameworks, Arkane Austin, and others followed in May. Another 650 layoffs occurred in September. While Microsoft claimed that no games were canceled in that most recent round of layoffs, developers at studios like State of Decay 3 maker Undead Labs were impacted.

The ongoing cuts come at the tail end of an acquisition spree that culminated in buying Call of Duty and Candy Crush maker Activision Blizzard for $70 billion. The Xbox portfolio now constitutes the biggest gaming content publisher in the world, but at the cost of greater scrutiny and revenue expectations. Microsoft Gaming CEO Phil Spencer, who usually prefers to talk about his favorite new games, has deflected blowback for the cuts over the last year by reiterating his responsibility to keep Xbox profitable.

“Our jobs inside the company is to run a good business,” Spencer said at Summer Game Fest earlier this month right after Xbox’s big summer showcase. “We’re accountable to Microsoft for running a good business, a healthy business that continues to grow at both top line and bottom line. That’s kind of a foundation for us. And what that does is it allows us to continue to invest in Xbox for our community of players and creators and that we’re doing it. It does mean we have to make trade offs through the year on things that we’re going to invest more in, things that we’re not going to invest as much in because it is kind of we are the business that we are.”

The result has been not only bringing major first-party games like Sea of Thieves and Gears of War to PS5, but also raising prices. The Outer Worlds 2 will be the company’s first $80 game this fall, and the price of the Xbox Series X/S recently spiked due to new tariffs amid Trump’s ongoing trade war with China. It feels like only a matter of time before Game Pass Ultimate, currently $20 a month, also goes up in price again.

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Ethereum braces for volatility as Kraken open interest hits 30k ETH
NFT Gaming

Ethereum braces for volatility as Kraken open interest hits 30k ETH

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Open interest in Ethereum has reached an all-time high on Kraken, suggesting coming volatility in either direction.

Ethereum (ETH) could soon experience heightened price swings, according to new data from Kraken. Alexia Theodorou, Head of Derivatives at Kraken, said in a June 10 obtained by crypto.news that open interest on Ethereum contracts hit an all-time high, a sign that speculative activity is ramping up.

“Open interest in ETH perpetuals on Kraken reached an all-time high of 30,000 ETH earlier this week, signaling a notable uptick in speculative activity around the second-largest cryptocurrency by market cap,” Alexia Theodorou, Kraken.

The likely catalyst for the rise in derivatives activity is growing institutional inflows into spot Ethereum exchange-traded funds, Theodorou explained. However, it remains unclear which direction these flows may drive Ethereum in the near term. Rather than indicating conviction, the current positioning appears to reflect anticipation of volatility.

“While funding rates remain mildly bullish, the market has yet to form a clear directional consensus, with the long/short ratio still well below its January peak,” Alexia Theodorou, Kraken.

Still, pro-innovation developments in the U.S. regulatory landscape could act as a potential tailwind for Ethereum in the months ahead, she added.

Ethereum reaches major staking milestone

On June 10, staked Ethereum reached an all-time high of 34.65 million ETH, representing 28.7% of all circulating supply. According to analysts from B2BINPAY, spot ETF inflows were likely behind this milestone as well.

Ethereum ETFs saw consecutive 15 days of positive inflows, which totaled $837 million. These could be indicative of a broader institutional interest in Ethereum, as well as other established altcoins, B2BINPAY suggests.



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