The U.S. markets will be closed on Thursday, June 19, in observance of Juneteenth National Independence Day, a federal holiday commemorating the end of slavery in the United States.



What Happened: According to the guidance from the Securities Industry and Financial Markets Association, the New York Stock Exchange and the Nasdaq will both suspend trading for the day, along with the U.S. bond market, which will also remain closed. Trading will resume as normal on Friday, June 20.



Juneteenth is the newest federal holiday in the calendar, having been designated only in 2021 by former President Joe Biden, 156 years after Major General Gordon Granger ordered the final enforcement of the Emancipation Proclamation in Texas on June 19, 1865.



See Also: <a href="https://www.benzinga.com/news/politics/25/06/46010064/ayatollah-assassination-discussion-rejected-by-putin-i-do-not-even-want-to-discuss-this-possibility">Ayatollah Assassination Discussion Rejected By Putin: &#8216;I Do Not Even Want To Discuss This Possibility&#8217;</a>



The decision to make this a national holiday was undertaken following <a href="https://www.benzinga.com/news/24/06/39397814/is-the-market-open-on-juneteenth">months of widespread protests</a> against racial injustice and inequality in 2020. 



While financial markets will be off on Thursday, not all sectors will stop functioning. Most federal government offices, bank branches, schools, and even the U.S. Postal Service will be shutting down, with many state and local government offices also observing the holiday.



Private companies, however, aren&#8217;t required by law to close for federal holidays, and retailers such as Walmart Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>), Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>), and Walgreens Boots Alliance Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>) will continue <a href="https://edition.cnn.com/2025/06/18/business/open-closed-juneteenth">to</a> remain open during their normal working hours. 



Major banks such as JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) and Bank of America Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), among others, will be closed, while online banking and ATMs will continue to function. 



Why It Matters: For years, Juneteenth celebrations were <a href="https://www.benzinga.com/news/22/06/27699154/juneteenth-2022-whats-open-whats-closed-and-what-is-the-holiday-all-about-1">restricted only to Texas</a>, but following the unrest that stemmed from the death of George Floyd in 2020, there were growing calls for making it a nationwide holiday.



Besides Juneteenth, the markets remain closed for <a href="https://www.benzinga.com/money/stock-market-holidays">eight other federal holidays</a>, with the following occasions in the coming months,



<ul class="wp-block-list">
<li>Friday, July 4th—Independence Day</li>



<li>Friday, September 5th—Labor Day</li>



<li>Monday, November 24th—Thanksgiving</li>



<li>Friday, December 26th—Christmas Day</li>
</ul>



Photo Courtesy: iHumnoi on Shutterstock.com Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46010451/peter-schiff-doesnt-think-stablecoins-will-help-preserve-dollar-dominance-heres-what-the-economist-says-theyll-do-instead">Peter Schiff Doesn&#8217;t Think Stablecoins Will Help Preserve Dollar Dominance — Here&#8217;s What The Economist Says They&#8217;ll Do Instead</a></li>
</ul>

News

Markets

Are Markets Open On Juneteenth This Year? Here's What's Open And What's Closed On June 19

The Federal Reserve's decision on Wednesday to hold interest rates steady at 4.25%-4.50% for the fourth consecutive meeting has triggered an escalating backlash, with both political and industry voices now demanding that Chairman Jerome <a href="https://www.benzinga.com/topic/jerome-powell">Powell</a><a href="https://www.benzinga.com/topic/jerome-powell"> step down immediately</a>.



What began as a political feud has now widened into a full-blown crusade against Powell, with criticism erupting from sectors hardest hit by high borrowing costs—most vocally, the housing industry.



<h2 class="wp-block-heading">Housing Industry: ‘Too Late Needs To Resign'</h2>



The sharpest rebuke came from Bill Pulte, U.S. Director of Federal Housing Finance Agency and a figure tied to both Fannie Mae and Freddie Mac oversight. 



On social media platform X, Pulte launched a barrage of posts accusing Powell of damaging the housing sector by delaying rate cuts.



"Jay Powell is hurting the housing market by being too late to lower rates. He needs to resign, effective immediately," Pulte said.



He added, "Funny thing is Jay Powell is talking right now about the housing market—he has no clue what he can do for it. And he's not listening to the people who help lead it."



Pulte, known for his pro-housing advocacy and ties to homebuilding networks, has emerged as a prominent industry voice urging quicker action from the Fed. 



His criticism echoes growing concerns among mortgage lenders, homebuilders and buyers dealing with a 30-year fixed mortgage rate that hovers near 7%.



Markets currently anticipate just two rate cuts by year-end, which would lower the federal funds rate to a range of 3.75% to 4%.



Stocks in the broader housing sector — tracked by the Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) — are trading 20% below their 2022 levels.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Funny thing is Jay Powell is talking right now about the housing market &#8211; he has no clue what he can do for the housing market. And he's not listening to the people who help lead the housing market. Too Late needs to RESIGN.&mdash; Pulte (@pulte) <a href="https://twitter.com/pulte/status/1935408919909671380?ref_src=twsrc%5Etfw">June 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Trump Reinforces Attacks On Powell</h2>



Just hours before the Fed's June policy decision, President Donald Trump once again tore into Powell, calling for an aggressive rate cut of 2 to 2.5 percentage points. 



Trump said such a move would significantly reduce the cost of refinancing U.S. government debt, claiming, "We'd be saving $700 billion, $800 billion—trillions over time."



"He just refuses to lower rates," Trump said. "I don't even think he's political, I think he hates me. He probably should, I call him every name in the book to try and get him to cut."



Trump's criticism comes amid mounting pressure on the central bank to lower rates as inflation cools and economic risks mount. Powell's current term ends in May 2026, but critics now want him out sooner.



The likelihood of Fed Chair Jerome Powell resigning or being removed before his term ends stands at 9%, according to CFTC-regulated betting platform Kalshi.



<iframe loading="lazy" src="https://kalshi.com/external-widgets/events/LEAVEPOWELL-25/markets/LEAVEPOWELL-25-DEC31?color_scheme=light&#038;widget_size=medium&#038;variant=a&#038;utm_campaign=benzinga_widget" width="488px" height="242px" style="border:0"></iframe>



Read now: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/market-summary/25/06/46010350/as-trump-weighs-options-on-iran-dow-futures-slip-defense-stocks-tick-up-in-after-hours-session">As Trump Weighs Options On Iran — Dow Futures Slip, Defense Stocks Tick Up In After-Hours Session </a></li>
</ul>



Image: Shutterstock

Federal Reserve

Real Estate

XLRE

Anti-Powell Crusade Rages On As Housing Sector Demands Fed Chair Resignation

The global market is witnessing a significant shift in investor sentiment, with a notable move away from U.S. assets. This trend, a phenomenon that cannot be solely attributed to a weakening dollar, as per a report by&nbsp;Société Générale.



What Happened:&nbsp;The shift in market leadership, with international stocks outperforming their U.S. counterparts, has sparked a debate on Wall Street. Some are wondering if this is a temporary phase or a sign of a longer-term trend, <a href="https://www.marketwatch.com/story/signs-of-a-great-rotation-are-gripping-global-markets-and-u-s-stocks-and-bonds-are-the-big-losers-5dde43b6">reported </a>MarketWatch



Arthur van Slooten, a strategist at Société Générale who monitors fund flows, believes that the current shift could be the start of a significant rotation, which is in its early stages.



&#8220;..clear confirmation that the great rotation has started,&#8221; he shared with the publication. 



van Slooten&#8217;s analysis of recent fund flows from ETFs and mutual funds revealed five key observations. Europe has emerged as the preferred destination for investors, with equity inflows nearly double that of the U.S. Global developed-market funds have also seen&nbsp;nearly twice the level of&nbsp;inflows compared to U.S. direct funds.



Emerging markets are making a strong recovery, with China-focused funds attracting $11 billion in inflows. Although the weakening U.S. dollar has played a role in this resurgence, van Slooten emphasizes that it&#8217;s not the only factor driving the shift. Meanwhile, despite the U.S. having a larger credit market, investors have recently shown a preference for European credit funds.



van Slooten further noted that rising geopolitical tensions could mean that this&nbsp;shift away from U.S. assets&nbsp;is just starting.



SEE ALSO:&nbsp;<a href="https://benzinga.com/markets/tech/25/06/46009956/jack-ma-says-you-need-a-good-boss-before-30-but-once-you-turn-50-you-need-to-take-a-different-approa" target="_blank" rel="noreferrer noopener">Jack Ma Says You Need A Good Boss Before 30, But Once You Turn 50 You Need To Take A Different Approach To Life: Here&#8217;s What The Alibaba-Founder Meant</a>



Why It Matters: The shift away from U.S. assets has been observed for some time now. In March 2025, data showed that the European stock market outperformed, hence there was a flow of <a href="https://www.benzinga.com/markets/equities/25/03/44225688/money-flowing-out-of-us-stock-market-into-europe-a-period-of-transition-says-trump">money out of </a>the U.S. stock market and into Europe. This was seen as a period of &#8216;transition,&#8217; as per President Donald Trump, with investors seeking opportunities in European markets.



In April 2025,&nbsp;foreign investors <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/04/44883642/peter-schiff-rings-alarm-after-foreign-investors-dump-6-5-billion-in-us-equities-in-a-week-quips-trump-thought-tariffs-would-bring-capital-into-america">dumped $6.5 billion </a>worth of U.S. equities in a week, marking the second-largest amount on record. This was attributed to the turmoil in U.S. equity markets and tariff-related uncertainties.



<ul class="wp-block-list">
<li>READ MORE:&nbsp;<a href="https://benzinga.com/markets/macro-economic-events/25/06/46011899/over-200-central-banks-reportedly-dump-48-billion-in-us-treasuries-amid-concerns-ov" target="_blank" rel="noreferrer noopener">Over 200 Central Banks Reportedly Dump $48 Billion In US Treasuries Amid Concerns Over Dollar&#8217;s Stability: &#8216;The Drop Is Unusual&#8217;</a></li>
</ul>



Image via Shutterstock



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Wall Street Watches As Money Flows Out Of US Markets — Is The 'Great Rotation' Here?

As the Middle East conflict intensifies, Shell Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHELL#NYSE">SHELL</a>) CEO Wael Sawan warns of potential repercussions on global trade, particularly if the U.S. gets involved.



What Happened:  Sawan, during Japan Energy Summit and Exhibition 2025, expressed concern over the escalating conflict between Israel and Iran, stating it could have a &#8220;huge impact on global trade.&#8221; Shell, a leading global trader of oil and natural gas, has already devised contingency plans to counter any potential disruption in the region&#8217;s oil flow due to the conflict, <a href="https://www.energyconnects.com/opinion/features/2025/june/shell-ceo-wael-sawan-lays-out-long-term-vision-amid-global-energy-shifts/">reported </a>by Energy Connects.



Sawan highlighted the strategic importance of the Strait of Hormuz, a major artery for the world&#8217;s oil trade, at an energy conference in Tokyo. He warned that a blockade in the Strait could send shockwaves in the energy market. The CEO noted that 20% of the world oil supply comes through Hormuz and finding an &#8220;alternative&#8221; would be challenging.



&#8220;If that artery is blocked, for whatever reason, it has a huge impact on global trade… We have plans in the eventuality that things deteriorate,&#8221; said Sawan as per Guardian. 



He also expressed concern about potential &#8220;jamming&#8221; or disruption of navigation signals in and around the Persian Gulf.



Sawan expressed his opinion on the changing world order and its impact on the energy markets. &#8220;We need to set actions for a new reality."



Meanwhile, U.S. President Donald Trump has suggested that the U.S. could intervene in the air war between Israel and Iran. This development further intensifies the potential impact of the conflict on global trade.



SEE ALSO: <a href="https://benzinga.com/news/politics/25/06/46011719/trump-greenlights-iran-attack-plans-awaits-tehrans-next-move-for-final-order-report" target="_blank" rel="noreferrer noopener">Trump Greenlights Iran Attack Plans, Awaits Tehran&#8217;s Next Move For Final Order: Report</a>



Why It Matters: The Israel-Iran conflict has been escalating, with both countries engaging in military actions. This conflict has the potential to disrupt the global oil market, impacting not only oil prices but also global trade and economies.



Earlier this month,&nbsp;<a href="https://www.benzinga.com/analyst-stock-ratings/analyst-color/25/06/45958514/these-penny-stocks-stand-to-gain-from-israel-iran-conflict-induced-volatility-in-crude-oil-analyst">analysts suggested</a>&nbsp;that the Israel-Iran conflict could lead to increased volatility in crude oil prices, benefiting companies like Shell. This prediction aligns with Sawan&#8217;s warning about the potential impact of the conflict on global trade, further emphasizing the significance of the situation.



Shell has been actively involved in the oil and gas industry, recently expanding its <a href="https://www.benzinga.com/news/large-cap/25/05/45664619/shell-boosts-nigerian-deepwater-assets-with-totalenergies-stake-purchase">Nigerian deepwater</a> assets through a strategic acquisition. The company&#8217;s stock performance is closely linked to global oil market dynamics, making the Israel-Iran conflict a critical factor for investors to monitor.



Brent crude oil prices have climbed 8.72% over the past five days amid escalating conflict. 



On a year-to-date basis, shares of Shell surged 14.10%, as per data from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.



<ul class="wp-block-list">
<li>READ MORE: <a href="https://benzinga.com/news/topics/25/06/46011774/israel-launches-overnight-strikes-on-iran-targeting-nuclear-site-military-infrastructure-with-40-figh" target="_blank" rel="noreferrer noopener">Israel Launches Overnight Strikes On Iran, Targeting Nuclear Site, Military Infrastructure With 40 Fighter Jets</a></li>
</ul>



Image via Shutterstock



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

SHELL

Shell CEO Warns Of 'Huge Impact On Global Trade' If The Strait Of Hormuz Is Blocked Amid Israel-Iran Conflict: 'We Need To Set Actions For A New Reality'

Social Security and Medicare's main trust funds will be depleted in 2033, a year earlier than last forecast, trustees said Wednesday.



What Happened: The annual report advanced Medicare's insolvency date by three years after higher-than-expected 2024 hospital spending and slower wage growth eroded reserves. Unless Congress acts, benefits would fall 23% for Social Security and 11% for Medicare hospital care.



Treasury Secretary Scott Bessent, Health and Human Services Secretary Robert F. Kennedy Jr. and the other trustees urged urgent legislative action to protect roughly 70 million Social Security beneficiaries and 66 million Medicare enrollees.



Payroll taxes — 6.2% for Social Security on earnings up to $176,100 in 2025 and 1.45% for Medicare on all wages — remain the programs' primary revenue source. Because outlays already exceed income, reserves will be tapped annually until they vanish. After that, payroll collections would cover only 79% of scheduled Social Security checks.



See also: <a href="https://www.benzinga.com/news/events/25/06/46013861/juneteenth-turns-159-a-celebration-of-delayed-freedom-that-only-recently-became-a-federal-holiday">Juneteenth Turns 159: A Celebration Of Delayed Freedom That Only Recently Became A Federal Holiday</a>



Why It Matters: Progressive groups such as Social Security Works urge Congress to <a href="https://www.benzinga.com/personal-finance/25/03/44368080/ssa-to-seek-100-recovery-on-social-security-overpayments-heres-what-this-means-for-your-benefits">scrap the wage cap</a> and tax high earners, while the Cato Institute backs slower benefit growth to close the gap.



Public anxiety is rising too. A recent survey <a href="https://www.benzinga.com/personal-finance/management/25/06/45720416/6-in-10-americans-fear-social-security-will-vanish-before-they-retire-as-2033-insolvency-clock-ticks-louder">found 60% of Americans</a> fear the program will "vanish" before they retire, a worry advisers say is driving early claims that permanently shrink checks.



There have also been proposals to raise the <a href="https://www.benzinga.com/25/05/45534539/social-security-full-retirement-age-shift-means-filing-at-62-could-chop-your-check-by-30-what-every-worker-born-in-1960-or-later-must-know">full retirement age</a> beyond 67 and to lean on immigration, which generally boosts payroll revenue, though both ideas face partisan gridlock. History shows Congress often waits until deadlines loom; with just eight years left, lawmakers must soon decide whether to raise taxes, curb benefits or adopt a mix of both.



Image via Shutterstock



Read next: <a href="https://www.benzinga.com/personal-finance/management/25/06/46013677/30-year-old-dentist-doesnt-believe-25-of-60-year-old-doctors-have-less-than-1m-says-most-teachers-hit-that-making-1-10th-a-doc-salary">30-Year-Old Dentist Doesn&#8217;t Believe 25% Of 60-Year-Old Doctors Have Less Than $1M, Says &#8216;Most Teachers Hit That Making 1/10th A Doc Salary&#8217;</a>

Personal Finance

Social Security And Medicare Funds Could Run Dry Earlier Than Expected, New Report Shows

Former President Barack Obama shared his concerns on Tuesday about the state of American democracy, warning that the country may be on the brink of authoritarianism.



What Happened: Speaking in Hartford, Connecticut, with historian and Boston College professor Heather Cox Richardson, Obama said, "It is consistent with autocracies," when referring to recent political behavior under the Trump administration, <a href="https://www.ctpublic.org/news/2025-06-17/former-president-barack-obama-headlines-forum-at-the-bushnell">according to</a> Connecticut Public Radio. He emphasized that while the U.S. has not fully moved into authoritarian rule, "we are dangerously close to normalizing behavior like that."



Obama's criticism addressed not only the executive branch but also the Republican Party, citing false narratives about the 2020 election. "In 2020, one person won the election, and it wasn't the guy complaining about it. And that's just a fact, just like my inauguration had more people. I say that, by the way, not because — I don't care, but facts are important," he said.



See Also: <a href="https://www.benzinga.com/markets/macro-economic-events/25/06/46011899/over-200-central-banks-reportedly-dump-48-billion-in-us-treasuries-amid-concerns-over-dollars-stability-the-drop-is-unusual">Over 200 Central Banks Reportedly Dump $48 Billion In US Treasuries Amid Concerns Over Dollar&#8217;s Stability: &#8216;The Drop Is Unusual&#8217;</a>



Why It Matters: Obama also cautioned that several leaders in one of the nation's two major parties are willing to ignore facts: "In one of our major political parties, you have a whole bunch of people who know that's not true but will pretend like it is. And that is dangerous."



"If you follow regularly what is said by those who are in charge of the federal government right now, there is a weak commitment to what we understood – and not just my generation, at least since World War II – our understanding of how a liberal democracy is supposed to work," Obama said.



"There has to be a response and pushback from civil society, from various institutions and individuals outside of government, but there also have to be people in government in both parties who say, &#8216;No, you can&#8217;t do that,'" he added.



Despite his concerns, Obama expressed hope for the country's future. "I'm still the ‘hope' guy. I guess the thing when I'm talking to young people that they need to hear the most is, it is important to be impatient with injustice and cruelty," he said.



Earlier this week, referencing the <a href="https://www.benzinga.com/news/events/25/06/45878983/us-cities-brace-for-escalating-immigration-protests-los-angeles-enforces-curfew-national-guard-deployed-amid-trump-crackdown">ongoing crackdown</a> on immigrants, <a href="https://www.benzinga.com/news/politics/25/06/45943372/obama-calls-for-dignity-in-immigration-enforcement-as-ice-crackdown-escalates">Obama called for "dignity and respect."</a> He also opposed <a href="https://www.benzinga.com/news/25/06/45765479/barack-obama-accuses-republicans-of-trying-to-weaken-obamacare-urges-voters-to-call-their-senators-a">Republican efforts</a> to scale back major provisions of the Affordable Care Act (ACA) in the "big, beautiful bill."



Read Next: <a href="https://www.benzinga.com/news/topics/25/06/46010921/palantirs-head-of-defense-says-xi-jinping-is-decoupling-from-us-warns-america-risks-losing-leverage-if-china-tech-shift-goes-unchecked">Palantir&#8217;s Head Of Defense Says &#8216;Xi Jinping Is Decoupling From Us&#8217; — Warns America Risks Losing Leverage If China Tech Shift Goes Unchecked</a>



Photo courtesy: Shutterstock

Politics

Obama Warns America Is 'Dangerously Close' To Autocracy, Calls For Civic Resistance: 'I'm Still The Hope Guy'

Steven Crowchild says he nearly walked off the G7 tarmac rather than greet a man he believes has "caused much pain and suffering in the world," but the Tsuut'ina First Nation leader stayed, prayed and delivered an impromptu plea for peace and clean water directly to President Donald Trump.



What Happened: According to a <a href="https://apnews.com/article/trump-g7-first-nation-crowchild-rage-canada-a0af79321cd4b4f4b6d2a66319206137">report</a> by the Associated Press, Crowchild, wearing a feathered headdress and clutching treaty medals older than Canada itself, told Trump on Sunday night that First Nations need leaders who protect &#8220;water for future generations."



The meeting came as heads of state arrived for the summit outside Calgary. Crowchild was part of an Indigenous honor guard because "no Indigenous representation was there at the time."



&#8220;I was filled with rage&#8221;, he recalled as he considered leaving, but stayed, conceding &#8220;visibility is key and diplomacy is important.&#8221; After consulting elders, he decided to confront Trump face-to-face. "Instead of war, I choose peace," he said, describing the encounter as "really intense."



See also:&nbsp;<a href="https://www.benzinga.com/news/topics/25/06/45988985/israel-says-it-struck-iranian-centrifuge-site-missile-factories-near-tehran-with-over-50-jets-to-disrupt-weapons-program">Israel Says It Struck Iranian Centrifuge Site, Missile Factories Near Tehran With Over 50 Jets To Disrupt Weapons Program</a>



Trump, wearing a white "Make America Great Again" cap, listened for several minutes before Crowchild greeted other leaders with the same message.



Why It Matters: The exchange unfolded as the summit grappled with widening Israel-Iran hostilities and as <a href="https://www.benzinga.com/news/politics/25/06/45965629/trump-exits-g7-summit-early-citing-obvious-reasons-amid-escalating-iran-israel-conflict-gold-oil-etfs-spike-in-after-hours-trading">Trump prepared to leave early</a>, a move that roiled agendas on Ukraine and trade. Ottawa and Washington nevertheless <a href="https://www.benzinga.com/news/politics/25/06/45992119/trump-cuts-g7-visit-short-calls-canada-deal-achievable">vowed to finish</a> a new bilateral deal within 30 days.



Crowchild, an elected Tsuut'ina councillor, said he will judge the outcome by actions, not photo-ops: "Whether he listened or not, time will tell." For now, he added, the U.S. president remains "just another person," and he stood "taller than him as proud Tsuut'ina Isgiya."



Photo Courtesy: Joey Sussman on Shutterstock.com



Read next: <a href="https://www.benzinga.com/markets/tech/25/06/46010756/texas-lawmakers-urge-elon-musks-tesla-to-delay-june-22-robotaxi-launch-till-september-report">Texas Lawmakers Urge Elon Musk&#8217;s Tesla To Delay June 22 Robotaxi Launch Till September: Report</a>

Events

Trump Was Confronted At G7 By Canada's Indigenous Honor Guard Who Said He Was 'Filled With Rage,' But Delivered A Message Of 'Peace'

Mike Gallagher, Head of Defense at Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>), warned that Chinese President Xi Jinping is actively decoupling from the United States and that America risks losing negotiating leverage by ignoring this strategic shift.



What Happened: &#8220;Xi Jinping is decoupling from us. If we ignore it, our own attempts at selective decoupling will happen on much less favorable terms,&#8221; Gallagher wrote on X Wednesday.



Gallagher, who represented Wisconsin&#8217;s Eighth District from 2017 to 2024 before joining Palantir, made the comments during an interview with popular Palantir investor Amit Kukreja. He emphasized that China has never adhered to promised trade rules since Xi&#8217;s rise to power in 2013, particularly regarding the &#8220;Made in China 2025&#8221; initiative.



The former congressman cited China&#8217;s $300 billion annual effort to steal critical technology as evidence of systematic decoupling. He advocated for a strategic U.S. response through selective decoupling coordinated with allies, particularly Japan.



Gallagher referenced former Japanese Prime Minister Shinzo Abe&#8216;s vision of &#8220;free flow data with trust&#8221; as a framework for enhanced digital trade agreements that could strengthen U.S.-allied relationships while challenging China&#8217;s technological ambitions.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Xi Jinping is decoupling from us. If we ignore it, our own attempts at selective decoupling will happen on much less favorable terms. <a href="https://t.co/Xqa2mT22a4">pic.twitter.com/Xqa2mT22a4</a>&mdash; Mike Gallagher (@RepGallagher) <a href="https://twitter.com/RepGallagher/status/1935341558624145487?ref_src=twsrc%5Etfw">June 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also: <a href="https://www.benzinga.com/news/politics/25/06/46010639/elizabeth-warren-says-americans-deserve-lower-interest-rates-but-trumps-reckless-tariffs-stand-in-the-way-the-fed-is-getting-boxed-out">Elizabeth Warren Says Americans &#8216;Deserve&#8217; Lower Interest Rates, But Trump&#8217;s &#8216;Reckless&#8217; Tariffs Stand In The Way: &#8216;The Fed Is Getting Boxed Out&#8217;</a>



Why It Matters: The warning comes amid renewed U.S.-China trade tensions. President Donald Trump recently described Xi as &#8220;very tough&#8221; and &#8220;extremely hard to make a deal with&#8221; on Truth Social, though he maintains <a href="https://www.benzinga.com/news/politics/25/06/45764844/trump-says-he-likes-xi-jinping-of-china-but-calls-him-very-tough-and-extremely-hard-to-make-a-deal-with">personal rapport with the Chinese leader</a>.



Commerce Secretary Howard Lutnick announced this month that both nations reached a framework to implement the Geneva consensus following Trump-Xi discussions in London. The agreement includes a 90-day tariff pause and addresses <a href="https://www.benzinga.com/news/macro-notification/25/06/45876366/howard-lutnick-says-us-and-china-reached-a-framework-to-implement-geneva-consensus-following-trump-xi-call-csi-300-index-gains">rare-earth exports and advanced technology restrictions</a>.



Palantir shares have surged 448% over 12 months, reaching new all-time highs. The company secured over $113 million in new <a href="https://www.benzinga.com/markets/equities/25/06/45988762/palantir-rejects-surveillance-claims-after-being-compared-to-nazi-collaborators-touts-pltrs-transparent-lineage">federal contracts since Trump&#8217;s inauguration</a>, including a $795 million Defense Department agreement.



Gallagher previously authored legislation forcing TikTok&#8216;s divestment from Chinese ownership and investigated Chinese Communist Party involvement in the <a href="https://www.benzinga.com/news/24/08/40523523/former-gop-congressman-mike-gallagher-who-joined-palantir-says-true-divide-on-national-security-is-b">fentanyl crisis while serving in Congress</a>.



According to&nbsp;Benzinga&#8217;s Edge Stock Rankings, Palantir shows strong Short-, Medium-, and Long-Term Price Trends. Here&#8217;s&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">how the stock performs across other key metrics</a>.



<figure class="wp-block-image aligncenter size-full is-resized"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="890" height="644" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/19004330/image-295.png" alt="" class="wp-image-954751" style="width:400px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/19004330/image-295.png 890w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/19004330/image-295-300x217.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/19004330/image-295-768x556.png 768w" sizes="(max-width: 890px) 100vw, 890px" /></a></figure>



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/06/45988762/palantir-rejects-surveillance-claims-after-being-compared-to-nazi-collaborators-touts-pltrs-transparent-lineage" target="_blank" rel="noreferrer noopener">Palantir Rejects Surveillance Claims After Being Compared To Nazi Collaborators, Touts PLTR's ‘Transparent Lineage'</a></li>
</ul>



Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.



Photo courtesy: plavi011 / Shutterstock.com<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener"></a>

PLTR

Palantir's Head Of Defense Says 'Xi Jinping Is Decoupling From Us' — Warns America Risks Losing Leverage If China Tech Shift Goes Unchecked

The cryptocurrency market is trading relatively flat on Wednesday, with Bitcoin reclaiming the $104,000 level. Sentiment remains cautious amid <a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46004999/why-bitcoin-tumbled-on-geopolitical-tensions-and-what-history-says-happens-next">rising geopolitical tensions</a>.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>&nbsp;$104,035.29</td><td>-0.95%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>&nbsp;$2,494.54</td><td>-1.4%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>&nbsp;$144.97</td><td>-2.9%</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>&nbsp;$2.14</td><td>-2.3%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>&nbsp;$0.1672</td><td>-2.1%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>&nbsp;$0.00001151</td><td>-1.7%</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>IntoTheBlock data shows large transaction volume increasing by 16.4%, and daily active addresses growing by 1.6%. Transactions greater than $100,000 are down from 11,517 to 11,167 in a single day, and exchange net flows are down by 105.3%.</li>



<li>CoinGlass data reports that 95,040 traders were liquidated in the past 24 hours, with the total liquidations at $232.55 million.</li>
</ul>



Notable Developments:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/news/social-media/25/06/45996471/own-app-launches-beta-introduces-blockchain-backed-monetization-tools-for-creators">Own. App Launches Beta, Introduces Blockchain-Backed Monetization Tools For Creators</a></li>



<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/06/45998961/ethereum-l2-chosen-for-jpmorgans-new-step-in-public-blockchain-space">Ethereum L2 Chosen For JPMorgan&#8217;s New Step In Public Blockchain Space</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45993991/blockchain-group-acquires-182-bitcoin-boosting-holdings-to-170-million">Blockchain Group Acquires 182 Bitcoin, Boosting Holdings To $170 Million</a></li>



<li><a href="https://www.benzinga.com/crypto/25/06/46003982/tokenizing-gold-us-equities-no-illiquid-is-key-expert-says">Tokenizing Gold, US Equities? No — Illiquid Is Key, Expert Says</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/46002825/us-seizes-225-million-in-cryptocurrency-tied-to-global-investment-fraud-network">US Seizes $225 Million In Cryptocurrency Tied To Global Investment Fraud Network</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45988823/coinbase-eyes-sec-nod-for-blockchain-based-stocks-legal-head-paul-grewal-says-its-a-huge-priority">Coinbase Eyes SEC Nod For Blockchain-Based Stocks— Legal Head Paul Grewal Says It&#8217;s A &#8216;Huge Priority&#8217;</a></li>
</ul>



Top Losers:



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Story (CRYPTO: IP)</td><td>&nbsp;$2.59</td><td>-22.3%</td></tr><tr><td>POL (prev. MATIC) (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">POL</a>)</td><td>&nbsp;$0.1842</td><td>-7%</td></tr><tr><td>Pendle (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PENDLE</a>)</td><td>&nbsp;$3.73</td><td>-6.4%</td></tr></tbody></table></figure>



Trader Notes: As Bitcoin hovers around $104,000, traders remain sharply divided over its next move. While some warn of exhaustion, others see clear signs of continuation.



Jackis <a href="https://x.com/i_am_jackis/status/1935400752303763492">believes</a> the broader market is misreading the current cycle. He argues that Bitcoin is on the verge of a bullish breakout from a pennant pattern and preparing to enter price discovery mode, dismissing recent dips as mere fake-outs. According to him, Crypto Twitter is once again prematurely calling a cycle top, just like last year.



Titan of Crypto (aka Washigorira) echoes a more tempered but optimistic outlook, stating that Bitcoin is in the final stage of its bull market, which typically follows a three-year expansion post bear market. While nearing the end, he emphasizes: "It's not over yet."



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> Bull Market Entering Final Phase &#x1f3c1; As in previous cycles: ~1 year of bear market, followed by ~3 years of expansion.<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> looks to be in the final leg but not done yet. <a href="https://t.co/MGre5ahz3P">pic.twitter.com/MGre5ahz3P</a>&mdash; Titan of Crypto (@Washigorira) <a href="https://twitter.com/Washigorira/status/1935355440210014627?ref_src=twsrc%5Etfw">June 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Michael van de Poppe points to a strong bounce driven by potential geopolitical de-escalation and falling oil and gold prices. He says daily candles are improving across crypto, but BTC must break above $106,000 to confirm renewed strength.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Strong bounce upwards on the markets as the negotiations might restart. Results; &#8211; Oil comes down &#8211; Gold on the edge of breaking down &#8211; <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> &amp; <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> bouncing upwards Nothing for certain yet, daily candles become better, but you clearly want to see Bitcoin above $106K. <a href="https://t.co/1G4O6BFoTa">pic.twitter.com/1G4O6BFoTa</a>&mdash; Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1935374451111309820?ref_src=twsrc%5Etfw">June 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



However, Roman <a href="https://x.com/Roman_Trading/status/1935371243240439878">offers</a> a bearish counterpoint. He notes the past five weeks have produced some of the weakest price action in recent memory, marked by volatility and indecision. On higher timeframes, signs of market exhaustion are emerging, raising the risk that a bear market could be taking hold.



Read Next:&nbsp;



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45998174/fred-krueger-says-bitcoin-treasury-firms-must-buy-like-sharks-10000-btc-monthly-to-stay-afloat">Fred Krueger Says Bitcoin Treasury Firms Must Buy Like Sharks — 10,000 BTC Monthly To Stay Afloat</a></li>
</ul>



Photo: Shutterstock

Cryptocurrency

$BTC

$DOGE

$ETH

$MNT

$PENDLE

$POL

$SHIB

$SOL

$XRP

Bitcoin, Ethereum, XRP, Dogecoin Trade Sideways: Is BTC Bull Market Entering Its Final Leg?

The Los Angeles Lakers are reportedly on the verge of being sold for a blockbuster price. While the absolute returns on the investment sound incredible, analysts on X are quick to point out that it&#8217;s not nearly as impressive as it seems.



What Happened: On Wednesday, it was reported that the Buss family, longtime owners of the Los Angeles Lakers, is preparing to sell the franchise for a staggering $10 billion. That's a jaw-dropping leap from the $68 million the late Jerry Buss paid for it in 1979.



This represents a monumental 15,284% return. But viewed through the lens of long-term compounding, some analysts say that it's far from exceptional.



See Also: <a href="https://www.benzinga.com/markets/equities/25/06/46012786/chamath-palihapitiya-asks-if-he-should-launch-another-spac-70-say-no-users-warn-of-past-failures-no-crying-in-the-casino">Chamath Palihapitiya Asks If He Should Launch Another SPAC—70% Say No, Users Warn of Past Failures: &#8216;No Crying In The Casino!&#8217;</a>



Users point out that adjusted for inflation, Buss' 1979 investment is equivalent to about $280 million in today's dollars. That makes the real multiple closer to 36x. 



Over 45 years, this equates to a compounded annual return of just under 10.5%, roughly in line with the S&amp;P 500's historical average. And that's before taxes, reinvestment risks and the operational headaches of running an NBA franchise.



Popular X user, Trung Phan, compares the investment relative to the performance of the S&amp;P 500 over the years, concluding that a $68 million investment in the S&amp;P 500 in 1979 would now be worth $13 billion. &#8220;So the Buss family underperformed by $3B,&#8221; he says.



However, Phan acknowledges that the &#8220;infinite cultural clout&#8221; that this investment brought the family might be well worth it, referring to the Lakers&#8217; 11 Championship wins over the years, alongside the remarkable brand and pop-culture legacy that&#8217;s been cemented over the years.



<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Jerry Buss bought the LA Lakers, LA Kings and The Forum for $68m in 1979. The Buss family just sold a majority stake at a $10B valuation (Buss sold LA Kings in 1988 and The Forum in 2000). Since 1979, a $68m investment in S&amp;P 500 is now worth $13B. So, Buss family… <a href="https://t.co/Nq9wHnqpfU">pic.twitter.com/Nq9wHnqpfU</a>&mdash; Trung Phan (@TrungTPhan) <a href="https://twitter.com/TrungTPhan/status/1935458198707913173?ref_src=twsrc%5Etfw">June 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: While passive investing with an S&amp;P 500 index fund, tracked by the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>), would have outperformed one of the most popular NBA teams, here are a few other assets that have fared much better during this period. 



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td class="has-text-align-center" data-align="center">Asset</td><td class="has-text-align-center" data-align="center">46-Year CAGR</td><td class="has-text-align-center" data-align="center">Absolute Returns</td></tr><tr><td class="has-text-align-center" data-align="center">Los Angeles Lakers</td><td class="has-text-align-center" data-align="center">11.46%</td><td class="has-text-align-center" data-align="center">15,284%</td></tr><tr><td class="has-text-align-center" data-align="center">SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)</td><td class="has-text-align-center" data-align="center">9.39%</td><td class="has-text-align-center" data-align="center">5,446%</td></tr><tr><td class="has-text-align-center" data-align="center">Fidelity NASDAQ Composite Index ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONEQ#NASDAQ">ONEQ</a>) <div class="nwVKo" style="align-items: center; display: flex; color: rgb(31, 31, 31); font-family: Arial, sans-serif; font-size: 14px; text-align: left; white-space-collapse: collapse;"> <div class="loJjTe" style="display: flex; min-width: 0px; gap: 8px;"></div></div></td><td class="has-text-align-center" data-align="center">11.74%</td><td class="has-text-align-center" data-align="center">16,467%</td></tr><tr><td class="has-text-align-center" data-align="center">Gold Spot Price</td><td class="has-text-align-center" data-align="center">6.05%</td><td class="has-text-align-center" data-align="center">1,392%</td></tr><tr><td class="has-text-align-center" data-align="center">Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) </td><td class="has-text-align-center" data-align="center">18.17%</td><td class="has-text-align-center" data-align="center">216,723%</td></tr></tbody></table><figcaption class="wp-element-caption">It&#8217;s worth noting that ETFs that tracked index funds did not exist in 1979, and the returns showcased exclude dividends for each of the assets listed above.</figcaption></figure>



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/personal-finance/tax/25/06/46012776/brace-for-higher-healthcare-premiums-in-2026-as-insurers-blame-trumps-tariffs-in-filings-to-regulators-report">Brace For Higher Healthcare Premiums In 2026 As Insurers Blame Trump&#8217;s Tariffs In Filings To Regulators: Report</a></li>
</ul>



Image Credit: Gary A. Vasquez-Imagn Images

ONEQ

The Buss Family Is Set To Sell The Los Angeles Lakers For $10 Billion, After Buying It For Just $68 Million—Here's Why The 15,284% Return Is Far From A Slam Dunk

Cryptocurrencies are trading lower for a second straight session as escalating Iran-Israel tensions and cautious anticipation around the<a href="https://www.benzinga.com/markets/macro-economic-events/25/06/45978856/federal-reserve-rate-cuts-trump-tariffs-what-to-watch-wednesday"> upcoming Federal Open Market Committee (FOMC) meeting</a> pressure investor sentiment across global markets.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Price&nbsp;&nbsp;&nbsp;</td><td>Gains +/-</td></tr><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$104,397.09</td><td>-1.4%</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$2,499.56</td><td>-2%</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$145.94</td><td>-3.3%</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$2.13</td><td>-3.4%</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.1673</td><td>-2.3%</td></tr><tr><td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001153</td><td>-1.5%</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>IntoTheBlock data shows that Bitcoin and Ethereum&#8217;s large transaction volumes increased 16.4% and 6.1%, respectively. Also, daily active addresses for both witnessed a growth of 1.6% and 7.2%, respectively.</li>



<li>Coinglass data shows that 108,715 traders were liquidated in the past 24 hours, with a total liquidation value of $322.24 million.</li>



<li>SoSoValue data shows net inflows of $216.5 million into spot Bitcoin ETFs while Spot Ethereum ETFs saw net inflows of $11.09 million.</li>
</ul>



Trader Notes: Titan of Crypto (aka Washigorira) sees Bitcoin consolidating within a bull pennant, a pattern often preceding a breakout. With the FOMC press conference scheduled today, he warns of heightened volatility and potential directional clarity.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> Bull Pennant forming?<a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> is consolidating inside what appears to be a potential bull pennant. No confirmed direction yet but with the FOMC press conference in under 9 hours, resolution could come fast. Volatility incoming. &#x1f3af; <a href="https://t.co/waOLmKiBSW">pic.twitter.com/waOLmKiBSW</a>&mdash; Titan of Crypto (@Washigorira) <a href="https://twitter.com/Washigorira/status/1935265528270209519?ref_src=twsrc%5Etfw">June 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Meanwhile, Jelle <a href="https://x.com/CryptoJelleNL/status/1935217695307518462">highlights</a> that $105,000 is holding as strong support for Bitcoin, calling it the new floor. Focus now turns to identifying the next resistance.



Trader Tardigrade <a href="https://x.com/TATrader_Alan/status/1935279338964017198">says</a> Ethereum is entering its first consolidation phase post-recovery, driven by Impulsive Wave C on the weekly chart, a setup for possible continuation.



George <a href="https://x.com/George1Trader/status/1935233663203205381">sees </a>Solana aiming for $130, though its direction beyond that level depends on its reaction strength at resistance.



Cryptoinsightuk identifies significant XRP liquidity between $1.90 and $2.00, a zone to watch for price action.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a> <a href="https://t.co/6qjjKUQwYR">pic.twitter.com/6qjjKUQwYR</a>&mdash; Cryptoinsightuk (@Cryptoinsightuk) <a href="https://twitter.com/Cryptoinsightuk/status/1935284346853933330?ref_src=twsrc%5Etfw">June 18, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Javon Marks <a href="https://x.com/JavonTM1/status/1935145020245283181">remains</a> bullish on Dogecoin, which continues forming higher lows and holding its breakout structure. He sees a target of $0.6533, a potential +260% surge if momentum holds.



Even more ambitious, he notes that $1.25 is possible long term, over 600% higher, if DOGE clears the first leg and consolidates post-breakout.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45971185/bitcoins-newer-buyers-realize-bigger-gains-is-a-90000-now-within-reach">Bitcoin&#8217;s Newer Buyers Realize Bigger Gains – Is A $90,000 Now Within Reach?</a></li>
</ul>



Photo: Chinnapong/Shutterstock

Bitcoin, Ethereum, XRP, Dogecoin Extend Slide Ahead Of FOMC – 'Volatility Incoming'

Billionaire entrepreneur Elon Musk is once again raising concerns regarding the U.S. fiscal outlook, warning of dire consequences as interest on Federal debt balloons to unsustainable levels.



What Happened: On Tuesday, in a post on X, Musk warned that the United States was teetering on the edge of &#8220;de facto bankruptcy&#8221; as federal debt surpasses $37 trillion, and interest payments on this debt now accounting for 25% of all tax revenue.



Quoting a post by popular X account, Wall Street Mav, Musk says that &#8220;if this continues,&#8221; then all tax revenues will eventually go toward servicing the national debt, with &#8220;nothing left for anything else.&#8221;



See Also: <a href="https://www.benzinga.com/news/politics/25/06/45988135/bernie-sanders-slams-israels-illegal-attack-on-iran-says-absolutely-imperative-that-the-united-states-not-be-dragged-into-this-war">Bernie Sanders Slams Israel&#8217;s &#8216;Illegal&#8217; Attack On Iran, Says &#8216;Absolutely Imperative That The United States Not Be Dragged Into This War&#8217;</a>



The quoted post highlights the gravity of the situation, stating that of the $5 trillion in total U.S. Government revenue, interest payments now account for $1.2 trillion, while the government continues to spend $7 trillion annually, resulting in persistent and ever-growing deficits.



Economist Peter Schiff responded to Musk&#8217;s post, saying that the U.S. is already bankrupt, and that it&#8217;s &#8220;just a matter of time before it&#8217;s obvious to our creditors.&#8221; Schiff then warns that following this, &#8220;interest rates will skyrocket to the point&#8221; where debt servicing costs will exceed total tax revenue. 



&#8220;The Fed will unleash runaway inflation in an attempt to prevent that from happening,&#8221; Schiff said.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We already are bankrupt. It&#39;s just a matter of time before it&#39;s obvious to our creditors. Then interest rates will skyrocket to the point that interest on the national debt exceeds total tax revenue. The Fed will unleash run-away inflation in an attempt to prevent that from…&mdash; Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1934738331772047584?ref_src=twsrc%5Etfw">June 16, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Why It Matters: Last month, Deutsche Bank's&nbsp;Jim Reid warned that the U.S. faces &#8220;death by a thousand cuts,&#8221; and gradual erosion of confidence if <a href="https://www.benzinga.com/markets/25/05/45535837/us-faces-death-by-a-thousand-cuts-as-national-debt-tops-36-trillion-cautions-deutsche-bank-the-drip-drip-drip-of-poor-fiscal-news-building-up?utm_source=chatgpt.com">the fiscal situation</a> is not rectified. 



Musk, who until recently headed the Trump administration&#8217;s Department of Government Efficiency, or DOGE, called out the <a href="https://www.benzinga.com/news/politics/25/06/45757029/elon-musk-slams-congressional-spending-bill-as-a-disgusting-abomination">GOP&#8217;s Budget Reconciliation Bill</a>, for its tax cuts and &#8220;massive, outrageous, pork-filled&#8221; spending package, referring to it as a &#8220;disgusting abomination.&#8221;



Recently, JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) CEO Jamie Dimon <a href="https://www.benzinga.com/markets/economic-data/25/05/45704089/jamie-dimon-warns-of-bond-market-crisis-caused-by-us-debt-binge-youre-going-to-panic">warned regulators and market participants</a> of a looming dislocation, saying that &#8220;You're going to see a crack in the bond market.&#8221;  Photo courtesy: Joshua Sukoff / Shutterstock.com



Read More: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/06/45988475/us-military-action-on-iran-odds-rise-on-crypto-betting-site-polymarket-as-trump-demands-unconditional-surrender">US Military Action On Iran? Odds Rise On Crypto Betting Site Polymarket As Trump Demands &#8216;Unconditional Surrender&#8217;</a></li>
</ul>

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Elon Musk Warns US Faces 'De Facto' Bankruptcy If $37 Trillion Debt Not Tackled, Peter Schiff Says, 'We Are Already Bankrupt'

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