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Cryptocurrency markets are down on Wednesday as major governments are liquidating Bitcoin holdings.CryptocurrencyPriceGains +/-Bitcoin BTC/USD $60,979.32-1.7%Ethereum ETH/USD $3,410.19-0.1%Solana SOL/USD $137.84-0.7%Dogecoin DOGE/USD $0.1241-2.9%Shiba Inu SHIB/USD $0.00001737-3.3%
Notable Statistics: Bitcoin Spot ETFs reported a total net inflow of $31 million for the first time in a week after consistent net outflows. IntoTheBlock data Bitcoin large transaction volume dropping 33% and daily active addresses falling 14%. Exchanges netflows are down 182.9%. Coinglass shows 34,447 traders were liquidated in the past 24 hours for $75.9 million. TreeNewsrshows that U.S. regulators are likely to approve Spot Ethereum ETFs for launch by July 4.
Notable Developments: Ethereum ETFs Poised For $15B Influx In First 18 Months, Says Bitwise CIO Matt Hougan German Authorities Sell $15M More In Seized Bitcoin Argentinian President Javier Milei Advocates For Bitcoin, Opening Doors To Digital Currency Revolution U.S. Offers $5M Reward For Information On Crypto Fraudster Ruja Ignatova Top Gainers:CryptocurrencyPriceGains +/Fetch.ai FET/USD $1.82+14.3%SingularityNET AGIX/USD $0.7407+11.5%Lido DAO LDO/USD $2.48+7.7%
Trader Notes: Notable crypto trader Seth posted stated the "Bitcoin daily candle just got rejected by the 7 EMA." He added that the daily RSI has not been this low since August 2023.
Another trader sees a sell signal for Bitcoin:
#Bitcoin
Don't forget:
A red signal has appeared in the "Better RSI" for $BTC.
Over the past two years, this signal has ALWAYS predicted that Bitcoin is very close to bottoming out or has already reached the local bottom??
A bottom could form here.? https://t.co/ETjvH8uFuK pic.twitter.com/8hOP90KMPM Market News and Data brought to you by Benzinga APIs
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