Cryptocurrency markets have sold off prior to the CPI data release on Wednesday, with major meme coins being hit particularly hard.
Prices as of 3.30 p.m. ET:
Notable Statistics:
- Coinglass data shows 104,055 traders liquidated in the past 24 hours, with total liquidations at $270.1 million. Bitcoin's open interest at $36 billion has continued to remain high since April 12.
- IntoTheBlock data reports a 66.6% surge in large transaction volume, alongside a 9.6% increase in daily active addresses. Transactions greater than $100,000 increased from 5,027 transactions on June 9 to 7,782 transactions on June 10. Total exchange inflows and outflows also increased.
- Crypto analyst Ali Martinez noted that historically Bitcoin has struggled in Q3, with an average return of 6.49% and a median return of -2.57%.
Notable Developments:
- Bitcoin Mining Stocks Marathon Digital, Riot Platforms And CleanSpark Are Moving: What’s Going On?
- Anthony Scaramucci Says Bitcoin Can Hit $700K, Predicting Match To Gold — ‘Could Bitcoin 10x In The Next 15 Years? I Believe It’
- Tether Plans To Invest More Than $1B In AI, Biotech, Financial Infrastructure
- Ethereum And Altcoins May ‘Quickly Rebound’ After FOMC Meeting, Trader Predicts
- Donald Trump Opens 21-Point Lead In 2024 Presidential Race, According To Crypto Bettors
Top Losers:
Trader Notes: El Crypto Prof sees Bitcoin forming a bullish inverse head & shoulders pattern ahead of the FOMC Meeting, pointing out that previous meetings have been bullish for Bitcoin.
FOMC tomorrow and $BTC forms a bullish inverse head & shoulders pattern here.
The past FOMC meetings have already marked the low of the left shoulder + head. Right shoulder next?
Probably just a coincidence.👀
So far, this meetings have mostly been bullish for BTC. pic.twitter.com/EbtYIkgswZ
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