Crypto News Today: Mixed Signals as Market Volatility Surges

Key Takeaways
  • Bitcoin's price has dipped under $64,500, while Ethereum holds steady around the $3,500 mark
  • The cryptocurrency market experienced a 0.40% decline, reducing its overall market capitalization to $2.47 trillion
22-06-2024 By: Lokesh Gupta
Crypto News Today: M

Cryptocurrency market cap dips 0.40% to $2.47 trillion

  • BlackRock, Fidelity, and six others amended S-1 filings for Ethereum ETFs, awaiting SEC approval.

  • The Winklevoss brothers returned $311,400 to Trump's campaign, surpassing the legal limit with their $1 million Bitcoin donation.

Crypto Fear and Greed Index:

fear and greed index

Crypto Fear and Greed Indicator shows 53 Greed currently, down from 63 yesterday and 71 last week. Market sentiment remains greedy.

Cryptocurrency has seen a decline in the last 24 hours

TOP 5 Losers Coins

Indices LTP Change (%)
LayerZero $2.82 15.99%
zkSync $0.1785 10.48%
dogwifhat $1.76 7.45%
Avalanche $26.06 6.85%
Aave $79.91 6.45%

Latest Market Update: 

  • #Bitcoin ($BTC), the world's oldest and most valuable cryptocurrency, briefly fell below $64,000 but quickly bounced back to around $64,000 again.

  • Other altcoins such as #zySync ($ZK), #Dogwifhat ($WIF), #Cardano ($ADA), #Lido DAO ($LDO), and #Chainlink ($LINK) experienced declines.

  • #Arweave saw the largest increase, rising by almost 9.81% over the past 24 hours.

  • #LayerZero ($ZRO) was the biggest loser, plunging by more than 15.65% in the same period.

  • TIn the past 24 hours, the total cryptocurrency market volume amounted to $64.88 billion, marking a decrease of 6.75%.

  • DeFi trading volume reaches $4.79 billion, representing 7.38% of the total 24-hour cryptocurrency market volume.

  • Stablecoins record a trading volume of $60.62 billion, accounting for 93.44% of the total 24-hour cryptocurrency market volume

  • Bitcoin currently holds a dominance of 54.08%, with no change observed over the day.

Major Worldwide News Update:

  • The US S&P Global Composite PMI increased marginally to 54.6 in June's preliminary estimate from 54.5 in May, indicating ongoing expansion in the private sector's business activity. Concurrently, the S&P Global Manufacturing PMI rose to 51.7 from 51.3, and the Services PMI climbed to 55.1 from 54.8 during the same period. Both figures exceeded analysts' expectations.

  • Recent data revealed that the U.S. housing market fell short of expectations in May. Total existing home sales, encompassing single-family homes, townhomes, condominiums, and co-ops, decreased by 0.7% to reach a seasonally adjusted annual rate of 4.11 million. This figure was below the anticipated 0.3% decline to 4.12 million and also lower than April's revised figure of 4.14 million. Year-over-year, sales dropped by 2.8% compared to May 2023.

  • Arthur Hayes, co-founder of BitMEX, warns of a potential crisis in Japan's banking system due to losses on U.S. bonds, akin to past U.S. bank crises. He predicts Japan may need a bailout, prompting significant money printing and potentially boosting Bitcoin amid fears of bond yield spikes and dollar depreciation.

  • The Nigerian SEC mandates Virtual Asset Service Providers (VASPs) to update applications within 30 days under new rules for Digital Asset Issuance, Platforms, Exchanges, and Custody. This move aims to bolster regulatory compliance and strengthen oversight, following heightened scrutiny and Binance's withdrawal from NGN services amid Nigeria's evolving crypto regulatory landscape.

  • Fidelity has updated its application for a spot Ether ETF, disclosing a $4.7 million initial investment in 1,250 ETH. They confirmed no ETH staking. Multiple asset managers, including Bitwise and Hashdex, also amended their filings as they await SEC approval for launching Ether and combined Bitcoin-Ether ETFs.

  • Gemini founders Cameron and Tyler Winklevoss had their excess Bitcoin donation to Donald Trump's campaign returned, surpassing the legal limit. Trump's campaign, embracing crypto, refunded each $155,400, contributing to various GOP entities. The Winklevoss twins, known for their Bitcoin advocacy, support Trump as pro-crypto amid regulatory challenges.

COIN GABBAR Views: Could Bitcoin's rally be over? Is $61,000 BTC's next target on the charts? Why is the BTC price struggling at $64,000, and is this weekend a 'do-or-die' moment for Bitcoin? To get latest news Stay tuned us at coingabbar

Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.

Also Read: FCA Leaves No Stone In $1.2B Illegal Crypto Exchange Case

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