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.
Date: June 14, 2024
Market Cap 24h Change: -0.57%
Reason:
The market has been down by -0.57% because Bitcoin ETFs saw a sharp outflow of $226.2 million due to ETH ETF news, and the price of Bitcoin fell significantly with more than $100 million worth of crypto long positions liquidated in an hour.
Date: June 13, 2024
Market Cap 24h Change: -2.19%
Reason:
The market has been down by -2.19% but the reason is not clear.
Date: June 12, 2024
Market Cap 24h Change: 0.78%
Reason:
The market has been up by 0.78% because of Bitcoin's price surge above $69,000 following a better-than-expected US Consumer Price Index (CPI) report for May, which showed a slight decline. This positive economic data has fueled optimism and driven the market upward.
Date: June 11, 2024
Market Cap 24h Change: -4.11%
Reason:
The market has been down by -4.11% because of several negative developments affecting Bitcoin. Notably, the long streak of Bitcoin ETF inflows has ended with a significant $64.9 million outflow. Additionally, massive spot selling on Binance amounting to $200M has led to Bitcoin briefly dipping below $67,000. This bearish trend is further amplified by the upcoming Federal Open Markets Committee interest rate decision and new U.S. inflation report, which have stoked market fears.
Date: June 10, 2024
Market Cap 24h Change: -0.81%
Reason:
The market has been down by -0.81% but the reason is not clear.
Date: June 9, 2024
Market Cap 24h Change: 0.78%
Reason:
The market has been up by 0.78% because of strong positive sentiment surrounding Bitcoin. The primary drivers appear to be significant rumors and speculation about the approval of a spot Bitcoin ETF, as well as bullish forecasts with some analysts predicting that Bitcoin could lift to $83K in the coming days. The increase in futures positions and record ETF inflows further support this optimism.
Date: June 8, 2024
Market Cap 24h Change: -0.37%
Reason: The market has been down by -0.37% but the reason is not clear.
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