Huge short Bitcoin positions above $71k suggest potential for rapid market movements
BTC sees only 13 days above $70K mark, new market potential looms.
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The global crypto market cap is $2.65 trillion, with a 24-hour volume of $90.56 billion. The price of Bitcoin is $71,474.10, and BTC market dominance is 53.3%. The price of Ethereum is $3,811.25, and ETH market dominance is 17.3%. The best-performing sector is Bitcoin Ecosystem, which gained 12%. The Crypto Fear & Greed Index is currently Greed (75).
📰 Top News
Huge short Bitcoin positions above $71k suggest potential for rapid market movements
BTC sees only 13 days above $70K mark, new market potential looms.
👀 Metric of The Day
The spot US Bitcoin ETFs now hold approximately 868,000 Bitcoin, having experienced their second-best day on record, with a total inflow of $887 million on June 4.
Bitcoin halving slashes miners’ production in May by over 40%
The miners highlighted that their hashrate has continued to rise despite the falling BTC production.
House Appropriation bill targets SEC’s controversial SAB 121 amid budget talks
Meanwhile, SEC Commissioner Mark Uyeda has called for SAB 121 to be withdrawn.
Bitwise CIO says market undervaluing Washington’s shifting attitude toward crypto
Hougan said the US political landscape regarding crypto has changed significantly toward a more positive stance in recent weeks.
📈 Latest Insights
Bitcoin short-term holders increased holdings by over 1 million BTC in six months
Bitcoin ETFs record best day with no outflows netting $887 million
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