Bitcoin, Ethereum, Dogecoin Bottom Out As US Government Wallet Sends $240M BTC To Coinbase

Cryptocurrency markets are down on Wednesday as major governments are liquidating Bitcoin holdings.

Cryptocurrency Price Gains +/-
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:

Top Gainers:

Cryptocurrency Price Gains +/ 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:


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.🎯

Market News and Data brought to you by Benzinga APIs

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