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Crypto Today: Bitcoin, Ethereum, XRP trade under sustained selling pressure despite mild ETF inflows
Cryptocurrency prices remain under pressure as a risk-off mood persists on Friday, with Bitcoin (BTC) consolidating its losses above $62,000. Altcoins, including Ethereum (ETH) and Ripple (XRP), are extending their weakness, trading near lower support levels around $1,600 and $1.12, respectively.
Grayscale flags Strategy BTC sale as pressure point, calls for new buyer cohorts
Grayscale, a major asset manager, is warning that the current pool of corporate treasury buyers is not broad enough to absorb Bitcoin’s selling pressure alone. The warning came as Bitcoin has dropped toward the dreaded $60,000 support level after experiencing an extended streak in spot ETF outflows, and as long-term Bitcoin holder Strategy (NASDAQ: MSTR)also...Cryptopolitan
Fri, Jun 5
Pump.fun revisits livestream chaos as user posts 10,000 SOL suicide bounty
Pump.fun released a new product on June 4 called “Pump Fun GO.” It is a bounty marketplace that lets anyone pay strangers to complete tasks for cryptocurrency. However, what was launched as a means to boost engagement and also enable participants to earn as well has taken a turn that was least expected but not...Cryptopolitan
Fri, Jun 5
Russia’s central bank to confirm BTC, ETH and USDT for local traders
Ordinary Russians will be permitted to purchase just three cryptocurrencies – BTC, ETH and USDT – once that becomes legal in their country. Confirming the shortlist of approved coins, those with the largest market cap, the monetary authority in Moscow made it clear it’s against adding more. Russia greenlights major cryptocurrencies for trading The Russian...Cryptopolitan
Fri, Jun 5
There’s An FOMC Meeting Scheduled This Month, But Will The Fed Decision Affect Bitcoin?
The Federal Open Market Committee (FOMC) meeting is held eight times a year, and just like with any financial market, the outcome of each meeting has implications for the likes of Bitcoin. The announcement that follows the FOMC meeting reveals whether interest rates have been changed or if they’re s...Bitcoinist
Fri, Jun 5
Arthur Hayes Dumps Entire Zcash Bag, Keeps WLD Bet Alive
Arthur Hayes says Maelstrom has sold its entire Zcash position after new disclosures around the Orchard Pool vulnerability sharpened the perceived risk around ZEC’s monetary integrity. The move effectively ends his recent “Holy Trinity” trade across ZEC, NEAR and HYPE, while leaving Worldcoin as the...NewsBTC
Fri, Jun 5
Bitcoin Short-Term Holders Capitulate as BTC Slides Below $62K
Bitcoin broke below $62k for the first time since February 6 and is now down over 14% on the week and over 50% since printing its all-time high in October last year. Short term holders, those who bought BTC over the past 155 days, are feeling the brunt of this decline. On-chain data from CheckOnChain...Cryptopolitan
Fri, Jun 5
US Senators Press Bank Regulators For ‘Fair’ Crypto Capital Rules
A group of Senate Republicans is pressing bank regulators to build on recent regulatory progress by creating a clearer capital framework for crypto activities and asset treatment. Related Reading: UK House Of Lords Urges BoE To Ease Stablecoin Rules Over Competitiveness Concerns US Senators Call For...Bitcoinist
Fri, Jun 5
Bitcoin Faces Pressure As Investors Rotate Capital Into AI Buildout: Saylor
Bitcoin spot ETFs have now recorded net outflows in 17 of the last 19 days, with investors pulling a combined $5.6 billion from the products during that stretch. Taking Stock Of The Damage The numbers have pushed year-to-date flows for US-traded Bitcoin ETFs into negative territory, landing at negat...NewsBTC
Fri, Jun 5
Bitcoin Miner Inflows Hit Highest Level Since February Crash: Capitulation Or Distribution?
Bitcoin has experienced significant selling pressure following a 16% drop since Monday — a decline that has shaken the confidence built during the recovery from the April lows and forced participants to reassess where genuine structural support exists in the current market structure. Against that ba...Bitcoinist
Fri, Jun 5
Dogecoin Has Entered A Historically Red Month And The Result Could Be Catastrophic
In the 13 years that Dogecoin has been in existence, it has seen some interesting trends across various months. However, each month has had its fair share of greens and reds, but the month of June has mostly defied this. With Dogecoin mostly ending June in the red over the years, the odds of this re...NewsBTC
Fri, Jun 5
Zcash Bug Could Have Minted Unlimited ZEC Undetected
A critical vulnerability in Zcash’s Orchard shielded pool could have allowed an attacker to create an unlimited amount of counterfeit ZEC without detection, according to a new disclosure from Zooko Wilcox, Jason McGee and security researcher Taylor Hornby. The flaw was discovered on May 29, remediat...Bitcoinist
Fri, Jun 5
S&P refuses to bend rules for SpaceX and AI giants
S&P Dow Jones Indices announced that it won’t change its rules for joining the S&P 500. This means SpaceX and other huge new public firms, called megacaps, can’t immediately become part of the benchmark that guides loads of investment money around the world. SpaceX is gearing up for what could be the biggest-ever IPO, with...Cryptopolitan
Fri, Jun 5
Bitcoin Price In ’Vulnerable Position’ As 2022 Playbook Repeats – Is $54,000 Next?
While Bitcoin (BTC) trades at its lowest levels in months, some market watchers have warned that the leading crypto may be preparing for another major drop as it retests a critical technical area that has historically marked a turning point. Related Reading: Zcash Fixes Critical Orchard Vulnerabilit...NewsBTC
Fri, Jun 5
Record Retail Buying Cannot Push Ethereum Higher – Someone Bigger Is On The Other Side
Ethereum is struggling below $1,800 as selling pressure and uncertainty keep the price well below the levels that defined the earlier phases of this cycle’s recovery. The decline has been persistent rather than sudden — and CryptoQuant data has surfaced a combination of on-chain signals that r...Bitcoinist
Fri, Jun 5
HYPE Defies Market Selloff As Whales Withdraw Another $108M From Exchanges
HYPE is trading above $60 despite the recent market selloff that has dragged most crypto assets to significant losses over the past several days. The relative strength is notable — but Arkham Intelligence data has revealed a series of institutional-scale transactions in the past several hours that t...NewsBTC
Fri, Jun 5
Bitcoin Demand Falls At Fastest Pace Since LUNA Collapse: Data
On-chain data shows the total demand for Bitcoin has significantly contracted over the past month, hitting a pace comparable to the LUNA collapse. Bitcoin Spot & Futures Demand Has Shrunken Recently As pointed out by CryptoQuant head of research Julio Moreno in an X post, Bitcoin demand has been...Bitcoinist
Fri, Jun 5
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