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Bitcoin's Value Nears $110K as Forced Closures Approach $300 Million Bitcoin's value has rebounded, erasing previous losses and currently trading at roughly $109,500, approaching the significant $110K mark, which is just shy of the cryptocurrency's highest ever value. Data from Coinglass indicates a significant rise in liquidations across the derivatives market, with the total nearing $300 million, marking a 32% increase in the last 24 hours. Bitcoin is leading the increase with around $50 million in liquidations, the majority of which were short positions. Of the total forced closures, $190 million were from traders betting on a price drop. Altcoins are following a similar trend, recovering from losses and trading in positive territory. It remains to be seen whether this will translate into a sustained upward trend in the coming days.

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Exploring Macroeconomic Effects on Cryptocurrency with Binance France's President, David Prinçay: An Interview on Hyperliquid, Altcoin Season, and 4-Year Cycles In a recent interview, David Prinçay, the President of Binance France, shares insights on the current macroeconomic landscape and its impact on cryptocurrencies. Prinçay highlights Bitcoin's response to global turmoil, its correlation to equities and its resilience to 'risk-off' episodes. While Bitcoin's dominance is clear, Prinçay suggests that a future reversal could be possible, potentially igniting an altcoin season. Despite economic uncertainties and competition from decentralized trading platforms like Hyperliquid, the Binance President emphasizes the company's commitment to innovation, user protection, and regulatory compliance. Lastly, Prinçay contends that the four-year market cycle theory is still in effect, citing price recoveries and fresh highs as indications of its ongoing relevance.

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Is a Ripple (XRP) Spot ETF on the Horizon? Grayscale's Multi-Crypto ETF Gets SEC Approval The U.S. Securities and Exchange Commission (SEC) has given the green light to Grayscale Investments to transform its Digital Large Cap Fund (GDLC) into a publicly traded spot exchange-traded fund (ETF), providing exposure to multiple cryptocurrencies. GDLC includes Bitcoin, Ethereum, Solana, XRP, and Cardano, following the CoinDesk 5 Index model. The approval has sparked optimism among investors for potential future sanctioning of altcoin-specific ETFs. Advisors and analysts predict a high probability of the SEC approving spot ETFs for various other cryptocurrencies this year, following this successful "test run". The converted ETF is expected to begin trading soon on NYSE Arca. This marks a significant milestone as it introduces one of the first regulated products tracking several digital assets.

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Bitcoin Drops to $105K Before Rebounding; Altcoins Display Instability: Market Update Over the past 24 hours, the cryptocurrency market has experienced significant volatility, with Bitcoin dipping to $105,145 before staging a V-shaped recovery and trading at $107,720, a nearly 1% increase. Meanwhile, many altcoins have struggled, with numerous experiencing more than a 3% drop. The most significant gain was recorded by PENGU, from the Pudgy Penguins ecosystem, showing a 6.3% increase, while Algorand's ALGO saw a 6.5% decrease. Total liquidations across the sector have spiked, nearing the $260 million mark. This market turbulence coincides with significant economic developments in the United States, including the Senate's approval of President Trump’s "big beautiful bill." If passed, it could positively impact the cryptocurrency market by reducing tax pressure on retail investors, potentially freeing up capital for riskier investments.

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Binance's Adjustments Impact Altcoin Traders: Here's How Binance, the world's largest cryptocurrency exchange, has expanded its VIP Loan offerings with more tokens including Newton Protocol (NEWT) and Sahara AI (SAHARA). This service allows high-tier users to borrow large sums of crypto using their existing tokens as collateral. However, these new tokens experienced a decrease in value, with NEWT dropping by 7% and SAHARA by 11%, contrary to the usual positive effect Binance support tends to have on cryptocurrencies. Additionally, Binance plans to remove several trading pairs on July 4, which has already led to price drops and reduced liquidity for the affected cryptocurrencies. The company has advised users to update or cancel their Spot Trading Bots to avoid potential losses.

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Bitcoin (BTC) Surpasses 109,000 USDT with a 3.10% Increase in 24 Hours

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