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Bitcoin bulls were unable to prevent the cryptocurrency's price from falling due to low liquidity on exchange order books.
Bitcoin traded below $68,000 during the Asian session on June 11, as analysts warned of further losses for the BTC price.
BTC Price Weakness Meets Lack of “Strong” Supply Support
Data from Cointelegraph Markets Pro and TradingView showed a 3% drop that took bitcoin to lows of $67,320 on Bitstamp after the daily close.
Lacking support at the key $69,000 level, bitcoin bulls were unable to avoid a move lower due to low liquidity on exchange order books. #btc #Bitcoin #ETH #Binance #BNB
Macroeconomic data will impact the price of volatile assets, such as cryptocurrencies and stocks
Bitcoin (BTC) started the week trading around $69,000 (USD), as it did over the weekend, as a key day approaches. On Wednesday, June 12, the US consumer price index (CPI) and the interest rate decision will be published.
“We are back to square one where the Fed (U.S. Federal Reserve) could hardly justify a rate cut when employment data remains strong and inflation is not declining as fast as it should,” said Ipek Ozkardeskaya, senior analyst at Swissquote bank. Last Friday, stock markets, along with Bitcoin and cryptocurrencies such as Ethereum's ether (ETH), retreated amid a larger-than-expected job increase in the economic powerhouse. As the graph shows, BTC then fell from USD 71,000 to USD 69,000, remaining 6% from its all-time high of USD 73,700 registered three months ago. The Fed cannot be put on hold indefinitely, nor should it indicate that it is going to be put on hold,” said Adam Posen, director of the Peterson Institute for International Economics and former member of the Monetary Policy Committee. However, he sees a cut unlikely until September or later. “If the data allows it, they will try very hard to do nothing until November,” he added. Eswar Prasad, a professor at Cornell University, expressed himself similarly. “Any Fed action, which seems unlikely in the summer, could now be pushed uncomfortably close to the November presidential election,” he said. “Central banks don't want to appear to be playing politics at all, so the easiest thing to do is to do nothing,” said Charles Goodhart, a former member of the Bank of England's Monetary Policy Committee. #Bitcoin #ETH #btc
Why did the price of bitcoin fall and where will it go next?
Bitcoin hit its lowest price level in two weeks, again showing support at $66,000.
A wave of selling has pushed the price of bitcoin (BTC) back to $66,000 this Tuesday. This level, which is its two-week low, has acted as market support for the past three weeks.
In this sense, Bitcoin is now in a key price zone that could act as a psychological floor, as shown below. However, if selling pressure intensifies, a deeper fall to previous supports between USD 65,000 and USD 60,000 is possible.
The current pullback has been influenced by bitcoin exchange-traded funds (ETFs) in the United States. These instruments culminated on Monday with outflows of USD 65 million, after registering the longest streak of inflows in their history (19 consecutive days). This can be seen in the following graph. #Bitcoin #ETH #Ethereum #BNB #solana $BTC $ETH
$IO Perfect exit to take profits from the launch Be careful if you plan to enter, the volatility is at its maximum Let's hope for prices of $2.5 or $2.2 for tickets, a little more interest, not three in fomo Many are taking profits from the launch. If you feel like entering because you like the project, wait for the selling pressure to pass. points where I enter again 2.2$ 1.9$ 1.5$ #Io.net #btc #Bitcoin #Binance #ETH
The scenario that I consider in#Bitcoinfor the rest of the year 2024: • Summer: Range in#BTCbetween $80K and $100K • September: We begin the BULL RUN, which will last between 2-3 months, ending in December 2024 or January 2025. We will see at some point this month the $120K in BTC. • October-December 2024: Full bull run,#BTCin a parabolic rise phase to $160K, and subsequent #altseason. Time of at least X5 in #altcoins. • Q1 2025: At some point during this time we will see the "blow off top" in #Bitcoin, the end of the bull market. I do not rule out seeing 180K$ at this time#solana#Binance#Bitcoin$BTC #ETH
Quite aggressive fall in #Bitcoin, anyway, at the moment very good performance of the asset, making support at the daily EMA20.
If it continues to fall, which I don't see as very likely, the next support should be the $67K - $66.5K area. I certainly find it difficult for the bears to overcome that level. #btc
In#altcoinsthe fall has been much more aggressive, but the daily candle has recovered in a matter of minutes. I personally go LONG at current prices at $RNDR , $SOL $BTC #solana #Binance #SEC #Bitcoin
Traders operating in the options market are anticipating a bullish month for the digital currency.
According to options trading movements, bitcoin (BTC) could see a price rise to new all-time highs this June. This is shown by data from Deribit, the main exchange for this activity.
Most bitcoin call options expiring on June 28 on Deribit are for prices between $75,000 and $85,000. Specifically, operations between such quotes represent more than USD 1.2 billion, as seen in the next graph. #Bitcoin #solana #Ethereum #Cardano #ETF $BTC
Users who have locked BNB (Binance Coin) will receive triple rewards for farming List in megadrop. These rewards include:
Daily BNB Interest: Users will receive daily interest in BNB.
READY Token: Users will get a READY token.
Launchpool Project Tokens: Users will receive Launchpool project tokens.
IO Listing on BinanceBinance will list IO on June 11, 2024 at 12:00 (UTC) and open trading with IO/BTC, IO/USDT, IO/BNB, IO/FDUSD, and IO/TRY trading pairs. The seed tag will be applied to IO. IO Release Group Details
Token name: IO.NET (IO)
Total token supply on Genesis: 500,000,000 IO
Max Token Supply: 800,000,000 IO
Launchpool Token Rewards: 20,000,000 IO (4% of total token supply on Genesis)
Initial circulating supply: 95,000,000 IO (19% of total token supply on Genesis)
Smart Contract Details: Solana
Terms of participation: KYC (Know Your Customer) required
Notcoin (NOT) gains 335% in 7 days and approaches the Top 50 cryptocurrencies
Notcoin (NOT), a popular play-and-earn token, has recently seen significant gains.
After initially falling following the launch on May 16, NOT has recovered, rising 335% in the past week.
NO has increased its market capitalization to $2.3 billion, putting it close to the top 50 cryptocurrencies.
The NOT token was officially launched on May 16. After the launch, it fell more than 60%, going from $0.012 to a low of $0.0050.
“About 18 million $NOT have been burned and taken out of circulation forever (reduced selling pressure). While this doesn't sound like much, investors could value more burns in the future, after all it is crypto and valuations don't have to be reasonable,” Crypto Stream noted. #Binance #btc #solana #Bitcoin #NFT
The firm highlights that this advance will allow users to make fast, secure and cheaper transactions. Payments platform PayPal confirmed that its stablecoin is expanding to the Solana network, which will make PayPal USD (PYUSD) faster and cheaper to transact.
The announcement comes 9 months after the company introduced PYUSD. As Criptonoticias already reported, it is an ERC-20 token, that is, developed on the Ethereum network, which maintains parity in its price with the US dollar.
Bitcoin and inflation will be decisive in the election of the next US president
A Grayscale survey indicates that, amid economic uncertainty, cryptocurrencies are increasingly relevant to voters.
In order to inform about the role that bitcoin (BTC) and other cryptocurrencies are playing in the current political scenario in the United States, the investment firm Grayscale conducted a survey between April 30 and May 2. The questionnaire was applied by the pollster Harris Pol to some 1,759 people (over 18 years of age) who expressed their intention to vote in the elections.
Price and Trend AnalysisNotcoin price is difficult to predict due to its recent launch and lack of historical data. However, some trends and factors that can influence its price can be considered:
Listing on Cryptocurrency Exchanges: Listing on ByBit and Binance can lead to an initial price surge, followed by a possible avalanche of selling if investors are not satisfied with the performance of the cryptocurrency.
Gambling Profits: Notcoin's Telegram game has attracted millions of users, which may generate additional demand for the cryptocurrency. However, this does not guarantee a long-term price increase.
Influence of TON: The positive trend of Toncoin (TON) can influence the price of Notcoin, as both cryptocurrencies are related to the TON blockchain.
Possible Prices in 2 WeeksConsidering the factors mentioned above, here are some possible price trends for Notcoin in the next two weeks:
Initial Inflation: Listing on cryptocurrency exchanges may result in an initial price increase, possibly up to a maximum of $0.50-$1.00.
Selling wave: If investors are not satisfied with the performance of the cryptocurrency, there may be a wave of selling that reduces the price to $0.20-$0.30.
General bullish trend: If the demand for the game and the influence of TON are positive, the price can stay in a range of $0.30-$0.50.
At the moment, the technical behavior of#Bitcoinis being positive, it is key that this retracement to the bearish channel is just a re-test to continue rising.
If the price continues to correct from these levels and we lose $67K in #BTC, then this reading will be invalidated, and it is very possible that we will return to the $64K area.
make an article about binance megadrop and its new launch
**Binance Megadrop: A New Token Launch Platform with Airdrops and Web3 Missions**
Binance, the world's largest cryptocurrency exchange, has launched an innovative platform called Megadrop. This token launch platform offers airdrops and Web3 missions for users who wish to participate and earn early rewards before the tokens are listed on the Binance Exchange.
**What is Megadrop?**
Megadrop is a token drop platform that allows users to subscribe to locked products and complete tasks in their Web3 wallet to gain early access to rewards from select Web3 projects. This platform is a loyalty and rewards program that offers incentives for participating. Users can stake Binance's BNB token prior to the launch of projects on the platform, allowing them to gain an advantage in the market.
**Megadrop operation**
How Megadrop works is simple. Users must subscribe to the platform and complete missions in their Web3 wallet. These missions can include tasks such as locking BNB, completing tasks in the Web3 wallet, or participating in community events. By completing these missions, users will receive rewards in the form of airdrops of selected tokens.
**Megadrop Benefits**
Megadrop offers several benefits to users. Firstly, it allows users to get early access to rewards from select Web3 projects. This allows them to gain an advantage in the market and obtain a larger number of tokens before they are listed on the Binance Exchange. Additionally, Megadrop offers a safe and reliable way to earn tokens as users can stake Binance's BNB token prior to project launches. #Binance #NFT #Bitcoin #solana #ETF
In #Bitcoin , due to time, we should leave this area we are in, we have been there for almost 90 days.
If we compare the two previous bull markets in BTC, those of 2017-2018 and 2020-2021, no area has had so many days of lateralization.
Lateralizing for 1 more MONTH in this area would jeopardize the bull market, many investors would get tired and decide to sell, and that is not convenient in a bull market either, in a bull market FOMO has to spread, not fear and uncertainty.
The whales are not interested in Crypto cooling off too much, they will soon shoot this up again, IMO in the next two weeks. #NFT #Binance #ETF #solana