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Ice Cream, Holidays And Hotels Cost More In June

by THEFUTURE.TEAM

The prices of “summer” products specifically ice creams, package holidays and hotels went up in June, compared to the previous month, according to data released by the Cyprus Consumers Association, based on the Consumer Price Index.

According to the data, the price of organised domestic holidays has increased by 11.8%. At the same time, ice creams are 8.07% more expensive, while hotels’ prices have also increased by 7.76% compared to May.

Compared to May 2024, an increase was also recorded in the price of dried, salted and smoked meat by 5.09%, yoghurt by 3.75%, food processing equipment by 3.5% and fresh fruit by 3.44%.

On the contrary, compared to May, in June the price of sewerage services decreased by 10.4%, the price of subscription to TV stations dropped by 10.06%, while the price of fresh vegetables, excluding potatoes and other bulbs, decreased by 9.12% and vegetables by 7.07%.

Compared to June 2023, in June 2024 the price of olive oil continued to register a large increase by 63.09%, passenger transport went down by 16.54%, fresh fruit by 15.42% and fruit by 12.87%.

A significant decrease, compared to last year, was recorded in the price of sugar, by 20.44% in June 2024. Garden furniture is also cheaper this June by 13.72%, while the price of butter decreased by 10.42%. 

Bitcoin Surges 23% In A Week As Investor Optimism Returns

by News Editor

Bitcoin was on track for a weekly gain of around 23% on Friday as a series of positive macroeconomic and policy developments boosted investor sentiment.

The cryptocurrency was trading about 6% higher at roughly $77,000, up from around $62,800 at the start of the week. Crypto-related stocks also rallied, with Coinbase and Circle gaining more than 9%, while Strategy rose 7%.

Macro Factors Fuel Rally

Bitcoin’s latest surge began Wednesday after Treasury yields fell sharply following a major intervention by the U.S. Treasury in the bond market. Lower yields eased pressure on risk assets and helped trigger a broader move into cryptocurrencies.

The rally was further amplified by a major short squeeze. Around $2.7 billion in crypto short positions were liquidated, according to CoinGlass.

Max Stuedlein, head of Partnerships at Sygnum APAC, said the move reflected an alignment of macroeconomic and policy catalysts, including the Treasury’s decision to increase buybacks of longer-dated government debt.

Clarity Act Boosts Sentiment

Investor confidence improved further on Thursday as the White House and crypto industry leaders made a final push to advance the Clarity Act in the coming weeks.

The legislation is widely viewed as a potential catalyst for the crypto market, although its chances of passing remain relatively limited.

Despite the rally, bitcoin remains well below its 2026 high of $94,820 reached in January and its all-time high of $126,198, set last October.

Analysts See More Volatility Ahead

Lucy Gazmararian, founder and managing partner at Token Bay Capital, said the crypto market may be approaching the end of its bear cycle.

She expects bitcoin could experience one more decline of around 20% before the market turns, pointing to historical cycles and the recent liquidation of heavily leveraged short positions.

Gazmararian also described bitcoin as a long-term hedge against monetary debasement, while warning that its short-term price remains highly volatile and driven by market cycles.

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