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Crypto Market Trend

Date: June 24, 2024

Market Cap 24h Change: -3.83%

Reason:

The market has been down by -3.83% but the reason is not clear.

Date: June 23, 2024

Market Cap 24h Change: -1.11%

Reason:

The market has been down by -1.11% but the reason is not clear.

Date: June 22, 2024

Market Cap 24h Change: 0.02%

Reason:

Market has been largely stable.

Date: June 21, 2024

Market Cap 24h Change: -1.13%

Reason:

The market has been down by -1.13% but the reason is not clear.

Date: June 20, 2024

Market Cap 24h Change: -0.31%

Reason:

The market has been down by -0.31% because Binance, the world’s largest crypto exchange, faces escalating regulatory challenges in multiple jurisdictions, including a $2.2 million fine from India's Financial Intelligence Unit and global operations under fire. Furthermore, the US Commodity Futures Trading Commission (CFTC) has initiated a probe into Jump Crypto. Additionally, the German government starting to sell off its stockpile of over $3 billion in seized Bitcoin has triggered volatility fears in the market.

Date: June 19, 2024

Market Cap 24h Change: 1.34%

Reason:

The market has been up by 1.34% because the SEC has closed its investigation into Ethereum without filing charges, determining that sales of ETH are not securities transactions. This positive regulatory news has significantly bolstered market confidence, leading to gains in ETH and positively impacting the broader crypto market.

Date: June 18, 2024

Market Cap 24h Change: -2.06%

Reason:

The market has been down by -2.06% because of several factors. There have been significant outflows from Bitcoin ETFs over three consecutive trading days, totaling $145.9 million. Bitcoin hitting a one-month low and a broad sell-off in altcoins have led to $455 million in crypto liquidation. Continued pessimism from the Fed and ongoing miner selling have contributed to the bearish sentiment in the market. Additionally, institutional investors have withdrawn $600 million from crypto funds, exacerbating the downtrend.

Date: June 17, 2024

Market Cap 24h Change: -1.12%

Reason:

The market has been down by -1.12% because of multiple factors. Miners continue to offload Bitcoin amid a 33-day capitulation, creating significant sell pressure. Additionally, investors reacted to the Fed's cautious stance, resulting in a $621 million outflow from crypto investment products as highlighted by CoinShares. High volatility in Bitcoin, Dogecoin, and Ethereum also triggered $290 million in liquidations, further contributing to the downward trend.

Date: June 16, 2024

Market Cap 24h Change: 0.92%

Reason:

The market has been up by 0.92% because of the anticipation and excitement around the potential approval of a spot Bitcoin ETF. Multiple articles highlight increased activity and speculation related to this potential approval, including notable bets placed by crypto traders and the revival of the rumor mill regarding the spot Bitcoin ETF.

Date: June 15, 2024

Market Cap 24h Change: 1.63%

Reason:

The market has been up by 1.63% because of the anticipation and excitement around the potential approval of a spot Bitcoin ETF. Multiple articles highlight increased activity and speculation related to this potential approval, including notable bets placed by crypto traders and the revival of the rumor mill regarding the spot Bitcoin ETF.

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