Bitcoin, Ethereum, Dogecoin Bounce Back As Whale Transactions Spike
Bitcoin, Ethereum, and Dogecoin have made a notable recovery, witnessing a surge in large transactions. A significant increase in transactions over $100,000 was recorded, more than doubling from 4,580 to 9,368 in just one day.
Cryptocurrency Prices:
- Bitcoin (BTC/USD): $61,914.65 (+3.3%)
- Ethereum (ETH/USD): $3,413.14 (+3.8%)
- Solana (SOL/USD): $138.94 (+8.1%)
- Dogecoin (DOGE/USD): $0.1281 (+10.6%)
- Shiba Inu (SHIB/USD): $0.00001812 (+9.4%)
Notable Statistics:
- Large transaction volume saw a 154% increase, and daily active addresses spiked by 42%.
- 41,349 traders were liquidated in the past 24 hours, totaling $137.49 million.
- SEC Chair Gary Gensler mentioned that the "process to spot Ethereum ETF approval is going smoothly."
- Nubank, owned by Warren Buffett, plans to integrate Bitcoin Lightning payments.
Notable Developments:
- The German Government continues its Bitcoin liquidation, transferring 400 BTC to exchanges.
- Congressman Matt Gaetz introduced a bill that allows federal tax payments in Bitcoin.
- FTX faces customer backlash over a proposed liquidation plan.
- The Solana Foundation launched tools to streamline blockchain transactions.
- Analysts predict potential impacts of the upcoming Biden vs. Trump debate on the crypto market.
Top Gainers:
- Brett (Based) (BRETT/USD): $0.1675 (+25.3%)
- Dogwifhat (WIF/USD): $2.07 (+24.3%)
- Pepe (PEPE/USD): $0.00001281 (+19.8%)
Trader Notes:
- Trader Rekt Capital noted that Bitcoin is developing a macro bull flag.
- Blockchainedbb highlighted Bitcoin’s three consecutive daily closes above $60,000, suggesting that "bears can pack their bags and go for a vacation for 2 months."
- A crypto trader pointed out that every June, Bitcoin tends to "find its local bottom & then rally over the summer and make a local top in August."
- Bitcoin analyst Willy Woo describes Bitcoin as a "fast-emerging asset class," predicting that Bitcoin will 10x from its current value and rival the U.S. dollar in size, eventually becoming a reserve asset.
