Bitcoin, Ethereum, Dogecoin Go Sideways, But 'Market Structure Back To Bullish,' Says Trader
Cryptocurrency Market Update
The cryptocurrency markets are experiencing a slight dip. However, there's optimism as a market structure is back to bullish, according to a trader. This will be interesting to watch as members of the Biden administration will attend a crypto roundtable.
Current Price Changes
Here's a look at some popular cryptocurrencies and their recent price changes:
Bitcoin (CRYPTO: BTC)
- Price: $66,286.62
- Change: -0.3%
Ethereum (CRYPTO: ETH)
- Price: $3,528.34
- Change: -1.9%
Solana (CRYPTO: SOL)
Price: $143.05
Change: -3.8%
Dogecoin (CRYPTO: DOGE)
- Price: $0.1315
- Change: -3.4%
Shiba Inu (CRYPTO: SHIB)
- Price: $0.00001952
- Change: -6.6%
Notable Statistics
Some new statistics are worth noting:
- Australia's largest stock exchange approved its first Spot Bitcoin ETF.
- Tether, the world’s largest stablecoin, has launched a new synthetic dollar backed by gold.
- IntoTheBlock data shows increased exchange inflows and outflows, with 90% of Bitcoin holders in profit at current prices.
- Coinglass data indicates that 111,242 traders were liquidated, totalling $265.50 million in the past 24 hours.
Notable Developments
Several significant events are shaping the crypto landscape:
- Deutsche Telekom, T-Mobile’s parent company, announces plans to mine Bitcoin.
- El Salvador’s President Bukele proposes a Bitcoin bank to attract billions.
- Potential launch of a Spot Ethereum ETF on July 2, according to a Bloomberg analyst.
- Biden Admin Officials and Mark Cuban to attend a crypto roundtable in July.
Top Losers
Some cryptocurrencies have seen substantial decreases:
zkSync (CRYPTO: ZK)
- Price: $0.2144
- Change: -25.3%
Notcoin (CRYPTO: NOT)
- Price: $0.01728
- Change: -14.4%
Injective (CRYPTO: INJ)
Price: $21.81
Change: -12.6%
Trader Notes
A crypto trader named Jelle sees a possible higher high forming for Bitcoin:
"Well, well, well. Bitcoin making a higher high & going for the reclaim. Market structure back to bullish – hold above $66,500 from here and we can send this back to the highs."
In summary, while Bitcoin, Ethereum, and Dogecoin are moving sideways, the potential for a bullish market remains strong. Keep an eye on these developments for future opportunities.
