Cryptocurrency
US senators propose AI bills for transparency and innovation

Lawmakers in the United States have proposed two new bipartisan bills targeting issues of transparency and innovation in artificial intelligence (AI).
On June 8, Democratic Senator Gary Peters, and Republican Senators Mike Braun and James Lankford, introduced the first bill, which would require the government to be transparent with its AI usage.
Under such a measure, U.S. government agencies would need to inform the public when it uses AI to interact with them, along with a system for citizens to appeal any decisions made by AI.
Braun stated:
“The federal government needs to be proactive and transparent with AI utilization and ensure that decisions aren’t being made without humans in the driver’s seat.”
The second bill was brought to the table by Democratic Senators Michael Bennet and Mark Warner, along with Republican Senator Todd Young, to establish an official Office of Global Competition Analysis.
This new division is aimed at helping the U.S. stay on top of AI development. Bennet commented that:
“We cannot afford to lose our competitive edge in strategic technologies like semiconductors, quantum computing, and artificial intelligence to competitors like China.”
The introduction of the bills follows an announcement from Senate Majority Leader Chuck Schumer, which called for three upcoming AI briefings to educate lawmakers on the technology.
Regulations targeting AI are beginning to pop up in discussions among lawmakers across the globe.
Earlier this week, officials in the United Kingdom stressed that AI models need regulation similar to those in the medicine and nuclear power industries. The same day, another U.K. official warned that if these models are not under control within the next two years, they could threaten humanity.
Meanwhile, in Europe, lawmakers are finalizing the European Union’s Artificial Intelligence Act, which is a comprehensive set of regulations for the development and deployment of generative AI.
European regulators have taken a similarly urgent approach to AI regulation, most recently saying they are considering requiring all AI-generated content to be labeled as such.
Zuckerberg highlighted divergent philosophies, with Meta emphasizing a social metaverse, while Apple’s device seemed designed for solitary use.
As Meta struggles to lead the way in virtual and augmented reality, Apple’s recent entry into the market has generated curiosity and apprehension. With the official announcement of its Vision Pro headset, speculations arose about Mark Zuckerberg’s viewpoint as Meta CEO on the competition posed by Apple’s mixed reality headset.
During an all-hands meeting observed by The Verge, Zuckerberg discussed his response to the technical features of the Vision Pro. Expressing his curiosity about Apple’s offering, Zuckerberg acknowledged that he had yet to experience the Vision Pro firsthand. He revealed that Meta’s teams had “already explored” and contemplated the constraints of laws and physics, implying that Apple’s solutions were not entirely groundbreaking.
He mentioned that the headset’s pricing resulted from a deliberate “design trade-off” aimed at emphasizing more expensive technology and demanding increased computational capabilities. Zuckerberg remarked that Apple opted for a higher resolution display, leading to a sevenfold increase in costs and energy consumption, ultimately necessitating a wired connection and battery.
Expanding on his comments, the Meta CEO delved into the divergent philosophical outlooks embraced by Apple and Meta, emphasizing the differences in their values and overarching goals. During this discussion, Zuckerberg naturally explored the concept of the metaverse, which notably did not receive any mention during Apple’s recent Worldwide Developers Conference.
Zuckerberg stated:
“Our vision for the metaverse and presence is fundamentally social. Our device also encourages active engagement and participation. In contrast, every demo they showcased featured an individual sitting alone on a couch.”
He highlighted that Meta Quest is designed to foster virtual communities and encourage interaction, emphasizing its role in promoting engagement. In contrast, Apple’s Vision Pro was characterized as a device primarily intended for solitary use.
Unlike the Meta Quest and Meta Quest Pro, Apple’s Vision Pro introduces control through eye movements and hand gestures, eliminating the requirement for controllers. It also features a translucent display and a lighter design. However, these advanced technologies contribute to a higher price point, with the Vision Pro starting at $3,500. Meta’s most expensive headset, the Meta Quest Pro, starts at $1,000.
Cryptocurrency
These Indicators Suggest Bitcoin May Be at the Start of a Bear Market: CryptoQuant

Analysts at the market intelligence platform CryptoQuant have identified concerning signals from on-chain valuation metrics that suggest bitcoin (BTC) may be at the onset of a bear season.
According to a CryptoQuant report, bitcoin’s correction is not unusual in terms of magnitude because such dips have been witnessed in past bull runs. However, the state of all valuation metrics suggests the leading cryptocurrency is either at deep value levels or in a deeper correction phase than typically seen during bull seasons.
BTC in Bearish Territory?
CryptoQuant said all Bitcoin valuation metrics indicate that the market is in bearish territory. The Bitcoin Bull-Bear Market Cycle Indicator is at its most bearish level in this cycle, while the Market Value to Realized Value (MVRV) Ratio Z-score has plunged below its 365-day moving average.
The MVRV Ratio Z-score’s fall below its 365-day moving average indicates that bitcoin’s upward price momentum has become weak. Historical data reveals that when the MVRV Ratio and the Bull-Bear Market Cycle Indicator fall to their current levels, then BTC is either in a sharp correction or at the brink of a bear market.
Bitcoin demand is not left out. This metric is still in contraction territory, and whales have reduced their accumulation pace. Last week, Bitcoin’s apparent demand contracted at its fastest pace since July 2024, plummeting swiftly by 103,000 BTC. Besides whales, other large investors are seeing their annual rate of BTC accumulation fall significantly—from 368,000 BTC in January to 268,000 BTC today.
BTC Could Fall to $63K
With the growth of large investors’ holdings falling, U.S.-based spot Bitcoin exchange-traded funds (ETFs) have become net BTC sellers – a trend that sharply contrasts their purchases in the same period last year.
CryptoQuant found that spot Bitcoin ETFs have cumulatively bought BTC worth $0.7 billion so far this year, a far cry from the $8.7 billion purchases seen this time in 2024. This indicates that these funds have been net sellers this year, putting additional downward pressure on bitcoin’s price.
Additionally, the volume of BTC flowing into the American crypto exchange Coinbase from other trading platforms has fallen below the 90-day moving average. This is evident in CryptoQuant’s Inter-exchange Flow Pulse, which has been in a period of price correction since February 13 while BTC was trading around $96,000. Coins often flow into Coinbase when demand is high.
Meanwhile, CryptoQuant analysts think BTC could plummet to $63,000 if it fails to hold the support level between $75,000 and $78,000. The asset was worth $82,000 at press time, and $63,000 represents the Trader’s minimum On-chain Realized Price minimum band.
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Cryptocurrency
Toncoin (TON) Skyrockets by Double Digits, Bitcoin (BTC) Holds Steady at $84K (Weekend Watch)

Bitcoin’s price performance over the weekend continues in a calm fashion as the asset has remained close to the $84,000 level.
Most altcoins are slightly in the red on a daily scale, aside from Ton after positive news around Telegram’s founder, Pavel Durov.
BTC Stands Still at $84K
It was a highly volatile week for the primary cryptocurrency from the get-go. It all started on Monday with a six- grand price drop that drove the asset south to $80,000. Although it managed to defend that level at first and bounced off to $84,000, the bears kept the pressure on and it lost it on Tuesday.
At the time, the cryptocurrency plunged to a four-month low of under $77,000. The bulls finally intercepted the move and didn’t allow another price breakdown. In fact, BTC jumped above $80,000 and spiked to $84,000 on Thursday.
It was first stopped there despite the favorable US CPI data for February. Nevertheless, it shot up on Friday and jumped past $85,000 for the first time since the previous weekend. It has lost some ground since then, and it trades at around $84,000 for most of the weekend.
Its market capitalization remains stuck below $1.670 trillion, while its dominance over the alts is still just shy of 59%.
TON on the Rise
The biggest news within the cryptocurrency community yesterday came from France and concerned Telegram’s founder, Pavel Durov. After being arrested in August 2024, the French authorities finally returned his passport on Saturday, as announced by the TON Foundation.
Expectedly, Toncoin exploded immediately after the news broke by over 20%. Although it has retraced slightly since yesterday’s peak, it’s still up by double digits now.
MNT is the other notable gainer from the larger-cap alts, having surged by 8%. AVAX is up by 3%, while most other crypto assets are in the red, including XRP, DOGE, LTC, and ADA.
The total crypto market cap has shed about $30 billion since yesterday’s peak and is below $2.840 trillion now.
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
Cryptocurrency
Bitcoin Price Analysis: This Key Resistance Could Prevent BTC’s Surge to $90K

Bitcoin has recently rebounded from the critical $78K support level and is now testing a significant resistance at $85K.
If it manages to reclaim this level, the next target will likely be the $90K region.
Technical Analysis
By Shayan
The Daily Chart
BTC’s recent price action has seen a slight rebound from the ascending wedge’s lower boundary, which aligns with the 0.618 Fibonacci retracement level at $78K. This confluence of support levels strengthens the likelihood of buyers defending this area in the mid-term.
However, Bitcoin has now headed toward a key resistance zone at $85K, which coincides with the 0.5 Fibonacci retracement level and the 200-day moving average. While a breakout above this region could trigger a surge toward the $90K threshold, the presence of sellers at this level suggests that further consolidation is the more probable short-term scenario.
The 4-Hour Chart
On the lower timeframe, Bitcoin’s recent upward movement has brought it close to the upper boundary of the descending wedge at $85K. This pattern often signals a bullish market rebound if the price breaches the upper trendline. If Bitcoin sustains its momentum and successfully breaks above this resistance, a rally toward the $90K level will likely follow.
However, given the current market conditions and the lack of strong buying demand, further consolidation within the wedge remains the more likely short-term outcome.
On-chain Analysis
By Shayan
The Realized Cap UTXO Age Bands (%) is a valuable on-chain metric that illustrates the distribution percentage of Bitcoin based on the duration they have been held.
According to the latest data, the percentage of coins held for 3 to 6 months has been rising rapidly, mirroring the accumulation patterns observed during the prolonged correction in the summer of 2024. This trend highlights a holding sentiment, where investors refrain from selling their Bitcoin despite the current market correction.
Historically, this type of resilience among Bitcoin holders has played a crucial role in forming market bottoms and igniting new uptrends. As long-term holders continue accumulating, the available supply in circulation decreases, making Bitcoin more scarce. When demand eventually picks up, this supply squeeze often leads to price surges, pushing Bitcoin toward new record highs.
Given this behavior, the data suggests that Bitcoin’s current market phase is more of a healthy correction rather than the start of a prolonged bear market. Many market participants still view Bitcoin as a long-term valuable investment, reinforcing the potential for an eventual bullish continuation.
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
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