Cryptocurrency markets have been trading mostly flat ahead of major economic data releases on Wednesday.
Prices as of 3.30 p.m. ET:
| Cryptocurrency | Price | Gains +/- |
| Bitcoin BTC/USD | $69,698.02 | -0.14% |
| Ethereum ETH/USD | $3,679.30 | -0.7% |
| Solana SOL/USD | $160.75 | -1.2% |
| Dogecoin DOGE/USD | $0.1449 | -2.6% |
| Shiba Inu SHIB/USD | $0.00002306 | -2.4% |
Notable Statistics:
- Coinglass data shows open interest1.4% higher at $37.3 billion, the highest since mid-April.
- IntoTheBlock data shows transactions greater than $100,000 trending down in the past seven days, from 8,887 transactions on June 3. to 5,027 transactions on Jun 9.
- Bitcoin news revealed that around 98,000 bitcoin have been taken off exchanges in the last 30 days.
- Bitcoin Archive reported that Paraguay will sell its excess hydro-energy to Bitcoin miners as part of its new economic development strategy.
Notable Developments:
- Norway Claws Back $5.7M From Biggest Crypto Hack Ever: Here’s What Happened
- Economist Predicts Major Altcoin Surge Before Recession: ‘Altseason Will Send Alts Flying’
- Financial Sector Dominates Q1 Crypto Funding With $323M InflowsWill Bitcoin ‘Swipe The Low’ Ahead Of Wednesday’s FOMC Meeting?
- Will Bitcoin ‘Swipe The Low’ Ahead Of Wednesday’s FOMC Meeting?
Top Losers:
| Cryptocurrency | Price | Gains +/– |
| Wormhole (CRYPTO: W) | $0.5829 | -13.5% |
| ORDI ORDI/USD | $57.52 | -6.2% |
| Notcoin NOT/USD | $0.01814 | -6% |
Trader Notes: Santiment data notes that Bitcoin and Cardano are showing the strongest social interest. The tweet added, "BTC: Bulls and bears battling at $70,000 level, and Bitcoin’s market cap ($1.377 trillion) being compared to Apple’s ($2.998 trillion)."
Adrian Zduńczyk thinks resistance will become the new support once it is flipped:
Another crypto trader predicted that Bitcoin is looking good to aim for the liquidity zone around $73,000. He added, "Market usually moves to prices at which liquidity is stacked – this can be a fakeout to take liquidity and then move down."
Read Next: Arthur Hayes: Bitcoin ‘Trend Is Clear, Central Banks Are Starting Easing Cycles’
Image: Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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