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The price surge liquidated some $36.6 million of short positions in the past 24 hours, the most this month, CoinGlass data shows.
The world's largest cryptocurrency by market value, bitcoin, has not reached levels above $30,000 since April.
Investors turned optimistic about Grayscale allowing redemptions in the future after BlackRock’s filing for spot bitcoin ETF last week, one analyst said.
The successful approval of BlackRock’s ETF application could be a seminal moment in the history of cryptocurrencies
As a result, the SEC’s regulatory scrutiny may be more limited in scope.
The latest price moves in crypto markets in context for June 20, 2023.
Binance crypto wallets hold some 90% of TUSD’s $3.1 billion market cap, according to blockchain data by Arkham Intelligence.
Repurchase agreements will keep being part of the reserve fund, Circle’s chief financial officer said Wednesday during a company call.
The exchange’s market depth has declined nearly 80% over the past month on regulatory woes.
The latest price moves in crypto markets in context for June 21, 2023.
- 04:49Citibank: October non-farm data will significantly slow down, market focus will not return to economic recessionThe Federal Reserve has not yet declared victory in the fight against inflation, but policymakers have shifted some attention to the maximum employment part of their dual mandate. Citi economist Veronica Clark said in a recent report, "October non-farm data will be an important confirmation or denial of stronger September data, but it may not be enough to shift market attention back to the risk of a US economic recession," However, October's data will reflect the ongoing impact of Boeing strikes and hurricanes. Clark estimates that these factors could reduce employment by 70-80 thousand. Citi's view on non-farm employment data is more moderate than generally expected, predicting an increase of 90 thousand people and a slight rise in unemployment rate to 4.23%. In addition, Citi stated that any downward adjustment to September's data could be more significant than usual.
- 04:47In the past 13 hours, a certain whale has withdrawn 5 million US dollars from CEX to bet on the US election in PolymarketAccording to Onchain Lens monitoring, in the past 13 hours, a certain whale has withdrawn $5 million from CEX and placed bets on Polymarket about who will win the US election. They bought shares of "YES" for Trump and "NO" for Harris. This whale traded in six markets and still holds $907,000 worth of USDC available for betting.
- 04:44Analyst: Bitcoin market warning, high leverage triggers a drop in volumeAccording to Crypto Hunter on X, after the author reminded investors not to be blindly optimistic in yesterday's market analysis, the Bitcoin (BTC) market quickly showed a trend of sharp decline. The current daily chart has formed a dusk star pattern, which is a typical top reversal signal. From the perspective of coin-based holdings, Bitcoin's holdings have not significantly decreased and the market leverage is still at a high level. The market currently lacks positive signals and it is not advisable to rush to buy at low prices. Effective market turning signals include significant improvements in macro liquidity, significant reductions in leverage rates, and noticeable weakening of sell orders.
