Bitcoin Weekly Chart Shows Rare Bullish Divergence, Analysts Eyeing $90,000 Target
June 8 — Bitcoin is flashing only its second bullish divergence signal ever on the weekly chart, stoking trader expectations for a major new price surge. Analysts are leaning on historical precedent here: the last identical signal popped right after the 2022 FTX collapse, when Bitcoin rallied from ~$15,500 to roughly $126,200 — a more than 700% gain — leading many to bet BTC could challenge the $90,000 resistance mark this time around.
Technical data backs this up: Bitcoin’s weekly RSI (Relative Strength Index) has bounced back above 34 after dipping into oversold territory, even as the crypto’s price has fallen from $75,800 to sit around $63,000. While BTC has recently notched lower price lows, its momentum indicator has formed higher swing lows — a classic bullish divergence that signals selling pressure is fading fast.
From a technical standpoint, Bitcoin’s first key target is its 50-week moving average, currently clocking in at around $91,800. Right now, BTC is trading near its 2
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EDGE Markets has completed a $29.2 million Series A funding round, led by CoinFund
On June 8, prediction market infrastructure firm EDGE Markets announced it has closed a $29.2 million Series A funding round. CoinFund led the round, with participation from Indicator Ventures, Mantis VC, Stepstone Group, and Bullpen Capital.
The new capital will go toward launching two core products: EDGE Pro, a banking platform for prediction market makers, and EDGE Connect, a payment network designed for entertainment and prediction markets.
EDGE Pro will give market makers high-throughput deposit accounts, enabling real-time fund transfers and settlements across U.S. platforms regulated by the Commodity Futures Trading Commission (CFTC). The company is also applying for Introducing Broker (IB) and Futures Commission Merchant (FCM) licenses from the National Futures Association (NFA) to boost capital efficiency and support margin management.
EDGE Connect, meanwhile, is a dedicated payment network for the prediction market space. It offers 24/7 real-time payments (RTP) and u
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Felix will shut down the DEX on June 19, becoming the first deployer of HIP-3 to formally close.
On June 8, decentralized derivatives platform Felix announced that due to the suspension of stablecoin USDH, the Felix DEX (built on HIP-3) and all active trading markets will begin gradual winding down starting June 19, with full liquidation wrapping up by June 20. The platform is reminding traders to close their positions ahead of time, noting each market will settle sequentially with a one-hour gap between adjacent markets.
Community member Shaunda Devens commented that Felix is the first official HIP-3 deployer to shut down, and this may only be the beginning. Devens stated that except for TradeXYZ, the rewards other deployers earn via HYPE staking and auctions are not competitive.
Hyperliquid community member aaalex.hl pushed back, arguing Felix’s shutdown appears to be mainly tied to USDH’s suspension rather than market share pressure from TradeXYZ.
In response, Devens agreed USDH is one of the factors, but added Felix opted to shut down its DEX entirely instead of remaining a
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Fitch Ratings has upgraded its global oil and gas sector outlook to "Positive," expecting the Brent oil price to remain between $100-110 in the short term.
On June 8, Fitch Ratings upgraded its outlook for the global oil and gas sector from its prior rating to “Improving,” pointing to the recent uptick in oil prices as a lift to the industry’s profit prospects.
The rating agency expects that amid shipping disruptions in the Strait of Hormuz, Brent crude prices will hold steady between $100 and $110 per barrel through June and July. Once supply rebounds, however, prices are projected to fall to roughly $70 per barrel by September.
Fitch’s base case assumes that after the Strait of Hormuz reopens, global oil production will recover rapidly, and the agency confirms no major damage to critical oil infrastructure has occurred so far.
The agency noted that near-term fears over energy supply will continue to buoy oil prices. But as geopolitical risks fade and production capacity is restored, the boost from higher oil prices is set to gradually wear off.
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Philadelphia Semiconductor Index Soars Over 5% at Market Open, Led by Intel
June 8 – Per data from Bitget Markets, the Philadelphia Semiconductor Index opened more than 5% higher. Major chip stocks posted strong gains: Intel (INTC.O) rose 9.73%, Micron Technology (MU.O) climbed 9.6%, ASML (ASML.O) advanced 5.1%, and Applied Materials (AMAT.O) gained 5%.
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Citi Raises S&P 500 Index Year-End Target to 8100 Points, with AI Earnings Growth as the Primary Driver
June 8 — Citigroup said AI-led profit growth is projected to push the S&P 500 above the 8,000-point threshold in 2026, as it lifted its year-end target for the benchmark index to 8,100 points. That’s a more than 9.5% jump from last Friday’s closing level, up from the bank’s prior target of 7,700 points.
Citigroup strategist Kronat projected the S&P 500’s earnings per share (EPS) will reach $350 in 2026 and rise to $400 in 2027. “AI is meaningfully boosting the fundamentals of related industries, and we’re confident in the continuation of upside earnings surprises through year-end,” he noted. First-quarter earnings beats were unusually widespread, he added, and while sustaining that pace may prove challenging, the surprise rate will stay above historical norms in coming quarters. Kronat emphasized that earnings growth will replace valuation expansion as the index’s primary driver.
Despite lingering uncertainties that could spark market volatility — including potential U.S.-Iran tensio
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