Bitcoin, Ethereum, Dogecoin End Week With Strong Sell-Off As Traders React To Roaring Kitty Stream

Cryptocurrency markets are trading down with a liquidation cascade following the Roaring Kitty live stream ending the trading week on a negative note.

Cryptocurrency	Price	Gains +/-
Bitcoin BTC/USD	$69,334.36	-1.9%
Ethereum ETH/USD	$3,696.18	-2.7%
Solana SOL/USD	$162.82	-3.7%
Dogecoin DOGE/USD	$0.1484	-7.1%
Shiba Inu SHIB/USD	$0.00002367	-6.1%

Notable Statistics:

• Coinglass data noted $337.08 million in crypto liquidations in just four hours, with the majority accounting for long liquidations. In the past 24 hours, 158,083 traders were liquidated.
• IntoTheBlock data noted that Bitcoin holders currently in profit are down from 98% to 87%. On the other hand, exchange netflows increased 209% in single day.
• With Spot Bitcoin ETF inflows of $217.78 million on June 5, total inflows since the ETFs started trading in early January crossed the $15 billion mark.
• Bitcoin Archive noted that Bitcoin is in the second longest period of consolidation (84 days) since it bounced off the bear-market low of $15,500.

Notable Developments:

Franklin Templeton Goes Beyond Bitcoin, Ethereum, Eyes New Crypto-Focused Investment Fund For Institutional Investors

Bitcoin Peak of $120,000 By Late 2024, Major Alt Season To Follow: Bitfinex

Customers Bank Ends Services For Some Crypto Hedge Funds

Top Losers:

Cryptocurrency	Price	Gains +/–
Dogwifhat WIF/USD	$2.83	-13%
Chilliz CHZ/USD	$0.1238	+13%
SingularityNET AGIX/USD	$0.7591	-12.8%

$BTC

– dip back into the wider range value area.

– now to look for:

either a reclaim of the 70 key contextual level

or

for 69-70 be flipped into resistance and acceptance back into more chop in the range. https://t.co/AuYMTrvfGt pic.twitter.com/XDUBhEnnDh

— Stoic (@Stoiiic) June 7, 2024

Another trader, Willy Woo sees one to three weeks more of bullish impulse.

REALLY URGENT: (probably not as good as BREAKING but worth exploring)#Bitcoin probably has 1-3 weeks more of bullish impulse as it wears down all-time-high resistance. https://t.co/BB5riVGc6t pic.twitter.com/3CRR3A2Ayy

— Willy Woo (@woonomic) June 7, 2024