Crypto Price Tumbles Amid US and German Government Moves BTC

Crypto market cap fell by 1.10%, reaching $2.38 trillion

• Bitcoin's price is declining following reports of the US government transferring 3,940 BTC to Coinbase Prime.

• Blast (BLAST), the native token of Ethereum's layer-2 network, surged 40% upon its launch, outperforming recent high-profile airdrops.

Major Events To Watch

Crypto Fear and Greed Index:

The Crypto Fear and Greed Index shows the market sentiment at 40 today, down from 46 yesterday and 63 last week.

Crypto market has seen an fell in value over recent hour

TOP 5 Losers Coins

Latest Market Update: 

• #Bitcoin price has retreated from recent gains, now below the $61,000 mark.

• Other major cryptocurrencies such as #Arweave (AR), #Beam ($BEAM), #Worldcoin ($WLD), #Floki ($FLOKI), and #Ondo ($ONDO) are trading with losses.

• #Kaspa ($KAS) has surged the most, up nearly 11.60% in the past 24 hours.

• #Brett ($BRETT) has seen the largest decline, dropping by over 8.48% in the same period.

• The total crypto market volume over the last 24 hours is $56.78 billion, a 13.30% decrease.

• The total volume in DeFi is currently $4.18 billion, making up 7.36% of the total crypto market 24-hour volume.

• The volume of all stablecoins is now $52.37 billion, accounting for 92.23% of the total crypto market 24-hour volume.

• Bitcoin’s dominance is currently 53.35%, a decrease of 0.12% over the day.

Major Worldwide News Update:

• On June 26, 2024, the U.S. government transferred 3,940 Bitcoin to a Coinbase Prime wallet, revealed Arkham Intelligence. These Bitcoins, seized from drug trafficker Banmeet Singh, were part of the 8,100 BTC confiscated. Singh was sentenced in April 2024. Concerns over government sell-offs, including from Germany and the Mt. Gox estate, have impacted the market.

• The SEC is progressing smoothly towards approving spot Ethereum ETF trading, with recent S-1 revisions described as minimal. Applicants like BlackRock and Fidelity await SEC's final steps, expecting approval within two to three weeks. VanEck plans a fee waiver for its Ethereum ETF, aiming to attract investors. Analysts foresee approval potentially by early July.

• Ruja Ignatova, wanted for the OneCoin scam that defrauded investors of $4 billion, now faces a $5 million bounty from the Department of State. Ignatova, dubbed the "Cryptoqueen," remains at large despite ongoing efforts to locate her. Numerous accomplices have been arrested and convicted in connection with the scheme.

• Worldcoin partners with Alchemy for its World Chain project, gaining access to Alchemy's robust blockchain infrastructure and developer tools. This collaboration aims to accelerate World Chain's development, enhancing digital identity solutions. Despite a recent 0.85% decline in open interest, Worldcoin (WLD) trades at $2.83 with a $107.9 million valuation.

• Hashed Ventures plans expansion to Abu Dhabi, attracted by the city's crypto-friendly policies and partnership opportunities with Hub71. With $700 million in assets under management, the South Korean firm aims to introduce more Korean startups to Abu Dhabi's growing tech ecosystem, leveraging clear regulations and strategic advantages for global growth.

• Abra has settled with 25 US states for operating cryptocurrency services without licenses, agreeing to refund $82.1 million in digital assets to customers. CEO William Barhydt will be restricted from active business roles in those states but can remain a passive investor. The settlement includes waived fines totaling $250,000 per jurisdiction.

COIN GABBAR Views: Will BTC drop to $50,000 in this crypto market crash? Is a Bitcoin bull run imminent? Has Bitcoin found its bottom? How are US and German government actions impacting Bitcoin—anticipating a sell-off or negligible impact? To get latest news Stay tuned us at coingabbar

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