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Bears pushed Bitcoin down below $20,000 as macroeconomic concerns continued to weigh heavily. Meanwhile, derivatives traders are indicating a pessimistic outlook.
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In this edition of CryptoSlate Wrapped Daily, we discuss the liquidation of $9 million in Bitcoin shorts, restrictions on Singapore retail investors, Chainplay's GameFi report, and much more.
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Ethereum surpassed the $2,000 area for the first time in two months, extending its bullish run after the last testnet merge's completion.
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Babel Finance, a struggling cryptocurrency lender, lost almost $280 million of its customers' cash in trading.
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Following the larger market signals, Ethereum, the largest cryptocurrency, enjoyed a strong surge in July. However, the situation for ETH appears to be shifting.
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Bitcoin's price briefly fell below $20,000, and traders warn that the crucial support level may eventually crumble after a series of retests.
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Bitcoin(BTC +1.4 percent), ethereum, and other major cryptocurrencies have recovered from last month's market disaster (that some think could reveal the future tech giants).
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Analysts continue to target $16,000 as a downside target, so investors must have a contingency plan in place.
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The price of Bitcoin and Ethereum both fell by over 8% in the early hours of June 18, putting them below the feared $20k and $1k thresholds.
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On Saturday, the price of bitcoin dipped below $20,000 for the first time since late 2020, signaling that the cryptocurrency selloff is intensifying.
Bears pushed Bitcoin down below $20,000 as macroeconomic concerns continued to weigh heavily. Meanwhile, derivatives traders are indicating a pessimistic outlook.
