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24 Hrs Crypto Update, 05 July: BTC slip below $31000 level

Key Takeaways
  • Over the last 24 hours, the market value of various esteemed cryptocurrencies, such as ETH, BNB, BCH, and LTC, has been consistently trading in the negative zone
  • Following the release of the Federal Reserve minutes for June, indicating the possibility of increased tightening measures if deemed necessary, Bitcoin and other prominent cryptocurrency tokens experienced a decline on Thursday
06-Jul-2023 By: Lokesh Gupta
24 Hrs Crypto Update
Indices LTP Change (%)
BITCOIN $30408 1.33%
ETHEREUM $1904 1.90%
                                                                                                                        CRYPTO STATS(24H) 
Indices VALUE Change (%)
MARKET CAP $1.23 T 1.30%
TRADING VOLUME $41.10 B 16.76%
                                                                                                                                           TOP 5 GAINERS
Indices LTP Change (%)
unclemine $0.00040 171.10%
ENIGMA $0.011 93.74%
don-key $0.0094 65.39%
smartcash $0.00037 63.73%
                                                                                                      TOP 5 LOSERS
Indices LTP Change (%)
robo inu finance $0.00 99.62%
zombie inu (OLD) $0.000000000018 92.11%
DOEX $0.00018 66.64%
GREEN CLIMATE wORLD $0.035 56.24%
JETCOIN $0.0015 41.93%

Crypto falls on Fed minutes, hints at tightening.

On Thursday morning in Asia, the prices of Bitcoin, Ether, and other leading non-stablecoin cryptocurrencies experienced a decline. This drop was attributed to the U.S. public holiday, which resulted in slower trading activity, and some investors opting to cash in on their recent gains. Notably, Larry Fink, the head of BlackRock, expressed support for Bitcoin, stating that it has the capability to revolutionize the field of finance.

Major Events Around the World

The US Federal Reserve has recently released the meeting minutes from the June 2023 Federal Open Market Committee (FOMC) meeting. These minutes shed light on the opinions of Fed officials regarding the current state of affairs. It was revealed that a majority of these officials were in favor of maintaining interest rates at their current level, while some officials expressed support for a 25 basis points increase.

The Terra Classic (LUNC) community is eagerly anticipating the arrival of LUNC/USTC swaps on TerraSwap, as Terraform Labs has committed to working on the Pull Request (PR) necessary for the integration. For several weeks, the Terra Classic community has been advocating for the implementation of LUNC/USTC swaps. The proposal for this token trading pair was initially put forward on June 17th, and a Pull Request was subsequently submitted to formally present the proposal.

During a recent Twitter Space AMA session, Binance CEO Changpeng "CZ" Zhao delved into several pivotal subjects currently impacting the crypto market. These encompassed the ongoing US SEC lawsuit, the burgeoning early bull market, the development of BNB Chain, the significance of decentralization, and the nefarious Binance Nigeria scammer entity. Additionally, CZ shed light on the imminent celebration of Binance's sixth anniversary.

COIN GABBAR Views: Can the cryptocurrency market in the second half of 2023 be expected to witness significant fluctuations, possibly including a reversal of Bitcoin's bullish trend coinciding with the July Supermoon, contrary to the prevailing bearish trend? Stay tuned for the latest news

Also read: Hong Kong University Calls for Government-Backed HKD Stablecoin

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.

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