Bitcoin and the wider crypto space have had an amazing year that propelled the global crypto market cap to $3.08 trillion on November 9th 2021. Since then, almost a trillion...
An analyst on Crypto Banter’s The Sniper Trading Show said the altcoin rally phase is approaching. Typically, this rally occurs towards the end of the bull cycle, indicating significant potential for gains soon.
Today's edition of the weekly recap covers a range of significant events: the crypto market faces sharp declines; Bitcoin and Ethereum ETFs experience notable activity; regulatory actions intensify globally; major expansion efforts highlight the sector's growth ambitions; and key insights from the Money 20/20 conference.
Bitcoin, the leading cryptocurrency, saw a sharp drop to an intraday low of $68,507. At the time of going to press, the cryptocurrency was priced at $69,321 — a 2.57% dip from the previous 24 hours.
Crypto research firm 10x Research has warned that a sharp decline in Ethereum prices could prevent Bitcoin from reaching a sustainable new all-time high of over $83,000, according to a June 7 analysis shared with CryptoSlate.
Bitcoin fell around 2% instantly as US nonfarm payrolls rose 272,000 month over month for May, way above the estimated 180,000. The rest of the crypto industry, along with the traditional equities markets, also took a hit.
It’s safe to say that 2024 has been the year of cryptocurrencies so far. After a long crypto winter, digital currencies burst back into the limelight at the start of the year, before being rocketed into the stratosphere by the SEC’s Bitcoin ETF approvals that same month.