Affected by the Israeli airstrike on Iran, the cryptocurrency market has seen a massive sell-off, with Bitcoin dropping from $108,400 to $102,700 within 24 hours, now rebounding to $104,848, and Ethereum falling to $2,436, currently reported at $2,533.
The technical Bitcoin MACD indicator remains negative, with short-term support at $101,000; Ethereum's overbought pullback risk is significant, with support at $2,381.
In the past 24 hours, centralized exchanges saw a net inflow of 2,425.57 BTC, with Binance contributing 1,131.68 BTC, OKX adding 817.58 BTC, and Bitfinex bringing in 518.13 BTC. Additionally, a whale purchased 48,825 ETH from Coinbase and Wintermute in the past 8 hours, totaling approximately $127 million.
The BlackRock BUIDL fund has reached $2.89 billion, growing nearly threefold in 90 days, with 92% of deployments on the Ethereum chain.
Bitcoin spot ETF net inflow is $86.79 million, while Ethereum spot ETF has seen continuous net inflow for 19 days (with a single-day inflow of $113 million).
The U.S. SEC has postponed the approval of DOGE, HBAR, and AVAX spot ETFs, with the GENIUS bill set for a Senate vote on June 17.
The U.S. Senate has passed the GENIUS Stablecoin Act, paving the way for legal clarity on stablecoins, which will help enhance confidence in the cryptocurrency market.
The Israeli airstrikes on Iran have triggered geopolitical tensions in the Middle East, leading to widespread risk aversion in the market. Oil prices have surged by over 5%, which may force the U.S. Federal Reserve to adopt a more cautious stance on interest rate cuts, further undermining investors' appetite for risk assets, including cryptocurrencies.
On June 13, Immutable tokens were unlocked, totaling $13 million.
Gold prices have surpassed $3,400 per ounce, while WTI crude oil rose by more than 10% at one point, driven by geopolitical premiums boosting demand for energy and precious metals.
OneBalance has completed $20 million in Series A financing, focusing on optimizing the Web3 user experience.
Summary: The cryptocurrency market has performed poorly overall, experiencing significant declines. In contrast, the U.S. stock market has shown an opposite trend, indicating a divergence in the market across different asset classes. This suggests that the market is influenced by various factors, including geopolitical tensions, economic data, and regulatory dynamics. The stablecoin legislation passed in the U.S. provides positive regulatory signals for the cryptocurrency market, which helps enhance market stability and confidence, but short-term volatility remains high, and investors need to closely monitor market dynamics and related risk factors.
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