Day: June 24, 2024

Crypto sees over $300 million in liquidations as Bitcoin, altcoins plummet

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Bitcoin price broke below $61,000 on Monday as bearish pressure intensified, and the market has seen over $320 million in total liquidations in 24 hours as a result. With bulls unable to hold key price levels as BTC traded lower, today’s dip sees buyers staring at a potential dip to the psychologically important $60,000 level. The bloodbath is also visible across the altcoin market as Ethereum failed to hold above the $3,300 level. Meanwhile, Solana, BNB and XRP all shed significant chunks of recent gains. Uniswap and Maker, down 12%…

Binance CEO Richard Teng Says Crypto Exchange Has Frozen $5,300,000 in Digital Assets Linked to BtcTurk Hack

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Binance CEO Richard Teng says the world’s largest crypto exchange is helping in the probe of hacked Turkish cryptocurrency market BtcTurk. In a post on the social media platform X, Teng says that Binance is assisting BtcTurk in the investigation and has so far frozen over $5.3 million worth of the stolen crypto assets. “Our investigations and security teams work around the clock as part of our proactive efforts to protect the ecosystem from bad actors. We will provide further updates as relevant.” BtcTurk, one of Turkey’s largest crypto exchanges,…

What’s Next for Bitcoin Price (BTC) After Mt. Gox News

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Thorn said his research suggests 75% of creditors will be taking the “early” payout in July, meaning a distribution of about 95,000 coins. Of that, Thorn believes 65,000 coins will be going to individual creditors, but he thinks they may prove more “diamond-handed” than most expect. Among the reasons, he said, is that they’ve already resisted years of “compelling and aggressive offers from claims funds,” not to mention the capital gains taxes involved given bitcoin is up 140-fold since the bankruptcy. Original

Analyst Warns of US Banking Sector Troubles, Foresees Stock Market and Bitcoin Slide

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While U.S. federal regulators, including the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve, have identified concerns with the crisis management tactics of four banks, in a recent interview with Kitco, market strategist Gareth Soloway expressed concerns. Soloway suggests something is “amiss” in the U.S. banking sector and claims that major banks are shedding […] Original

Binance CEO projects Bitcoin to surpass $80,000 by 2025; these cryptos may follow suit

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Binance CEO predicts Bitcoin will surpass $80,000 by 2025. Explore whether Solana, Rollblock, and BNB will follow Bitcoin’s bullish trajectory. Bitcoin is expected to surpass $80,000 by 2025, according to a daring forecast made recently by Binance CEO that has drawn interest from both investors and enthusiasts of the cryptocurrency. Discussions of the possible paths of some of the best altcoins to invest in including Solana, Rollblock, and Binance…

SOL, LTC see inflows as investors pull $630M from Bitcoin ETPs

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Solana, Polygon and Litecoin are some altcoins that attracted institutional investors this past week, despite the market seeing more than $584 million pulled from digital asset investment products. Over the past two weeks, the digital asset investment products market has recorded outflows of over $1.2 billion, CoinShares revealed in a report. Bitcoin and Ethereum lead the outflows, which have come as BTC price struggled with downside pressure since its recent rejection in the $71k area. Bitcoin, Ethereum see over $688 million in outflows According to details shared in asset manager…

Ethereum Set For $5,000? ETH Open Interest Expanding On CME Ahead Of Spot ETFs Trading

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Ethereum is tracking lower when writing, sinking roughly 18% from March 2024 highs. Even though bears appear to be in control at spot rates, keeping the second most valuable coin below $3,700, confidence is high among analysts. ETH Futures Open Interest Rising On CME Taking to X, one of them noted that there are solid signs that institutions are positioning themselves to push prices higher. Citing rising open interest in Ethereum Futures at CME, a bourse, the analyst said it is highly likely that the “big money” is accumulating ETH,…