Benzinga - by Khyathi Dalal, Benzinga Staff Writer.
Cryptocurrency markets are trading down with a liquidation cascade following the Roaring Kitty live stream ending the trading week on a negative note.
| Cryptocurrency | Price | Gains +/- |
| Bitcoin (CRYPTO: BTC) | $69,334.36 | -1.9% |
| Ethereum (CRYPTO: ETH) | $3,696.18 | -2.7% |
| Solana (CRYPTO: SOL) | $162.82 | -3.7% |
| Dogecoin (CRYPTO: DOGE) | $0.1484 | -7.1% |
| Shiba Inu (CRYPTO: SHIB) | $0.00002367 | -6.1% |
Notable Statistics:
- Coinglass data noted $337.08 million in crypto liquidations in just four hours, with the majority accounting for long liquidations. In the past 24 hours, 158,083 traders were liquidated.
- IntoTheBlock data noted that Bitcoin holders currently in profit are down from 98% to 87%. On the other hand, exchange netflows increased 209% in single day.
- With Spot Bitcoin ETF inflows of $217.78 million on June 5, total inflows since the ETFs started trading in early January crossed the $15 billion mark.
- Bitcoin Archive noted that Bitcoin is in the second longest period of consolidation (84 days) since it bounced off the bear-market low of $15,500.
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Top Losers:
| Cryptocurrency | Price | Gains +/– |
| Dogwifhat (CRYPTO: WIF) | $2.83 | -13% |
| Chilliz (CRYPTO: CHZ) | $0.1238 | +13% |
| SingularityNET (CRYPTO: AGIX) | $0.7591 | -12.8% |
Trader Notes: In response to the much-awaited Roaring Kitty livestream, Wazz Crypto noted in a tweet, "This stream was an extinction-level event for many Solana meme coins."
Crypto trader Stoic analyzed the current situation and concluded:
$BTC– dip back into the wider range value area.
– now to look for:
either a reclaim of the 70 key contextual level
for 69-70 be flipped into resistance and acceptance back into more chop in the range. https://t.co/AuYMTrvfGt pic.twitter.com/XDUBhEnnDh
— Stoic (@Stoiiic) June 7, 2024
Another trader, Willy Woo sees one to three weeks more of bullish impulse.
REALLY URGENT: (probably not as good as BREAKING but worth exploring)#Bitcoin probably has 1-3 weeks more of bullish impulse as it wears down all-time-high resistance. https://t.co/BB5riVGc6t pic.twitter.com/3CRR3A2AyyWhat's Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga's upcoming Future of Digital Assets event on Nov. 19.— Willy Woo (@woonomic) June 7, 2024
Read Next: Bitcoin, Ethereum ETF Could Make ‘June A Really Good Month For Altcoins,’ Predicts Veteran Trader
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