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7 Best Crypto Coins for Long Term in 2024
1. 5thScape (5SCAPE): Pioneering VR gaming with advanced technology and a robust ecosystem. 2. DarkLume (DLUME): Innovating emerging markets with cutting-edge technology solutions. 3. Dogecoin (DOGE): Meme coin popular for its strong community support and celebrity endorsements. 4. Toncoin (TON): Promoting decentralized internet access with connections to Telegram. 5. eTukTuk (TUK): Leading developments for green initiatives in transportation.  6. Shiba Inu (SHIB): Meme coin thriving on its fun loving community. 7. Pepe (PEPE): Leveraging cultural impact and community power in the meme coin market.
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New comment Jun 12
Bitcoin Pullback to $66K Triggers $250M in Crypto Liquidations as Traders Brace for 'Wild Wednesday' of FOMC, CPI Report
Cryptocurrencies tumbled deeper into correction on Tuesday with bitcoin (BTC) dipping to near $66,000 as traders brace for Wednesday's key U.S. inflation report and Federal Reserve meeting. Bitcoin (BTC) started the day trading near $70,000 before hitting a three-week low price at $66,170 during the U.S. session. It slightly rebounded to near $66,500, but was still down nearly 5% over the past 24 hours. Altcoins saw even deeper pullbacks during the same period, with the broad-market crypto market benchmark CoinDesk 20 Index declining over 6% with all twenty constituents being in the red. Ethereum's ether (ETH) broke below $3,500 and was down 6.5%, while solana (SOL), dogecoin (DOGE), Cardano's ADA and Chainlink's LINK endured 6%-9% losses. The sudden pullback incurred over $250 million in liquidations of leveraged derivatives trading positions across all crypto assets, CoinGlass data shows, marking the second significant leverage flush in a week after Friday's $400 million liquidations. Liquidations occur when an exchange closes a leveraged position due to a partial or total loss of the trader’s initial money down, or "margin," because the user fails to meet the margin requirements or doesn't have enough funds to keep the position open. One reason behind the pullback is investors “de-risking” from crypto assets ahead of tomorrow's May Consumer Price Index (CPI) report and Fed meeting, hedge fund QCP said in an update. Bitcoin could see a volatile session Wednesday as it has been "highly responsive" to economic data recently and its 30-day correlation with U.S. equities climbing to highest since 2022, K33 Research noted in a Tuesday market update. "The stage is set for a frantic macro-Wednesday, with both May CPI data and the FEDs interest rate decision poised to move the market," K33 analysts said. Investors will monitor the Federal Open Market Committee (FOMC) members' interest rate outlook – so-called "dot plot" – to see how many rate cuts policymakers are projecting for this year in light of recent sticky inflation readings and softer economic data.
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Bitcoin above 70k
The crypto market is excitedly buzzing as Bitcoin surpassed the $70,000 mark on Tuesday, driven by improving risk appetite and significant inflows into U.S. spot Bitcoin ETFs. Analysts hint at the possibility of new highs this week, especially if weak US economic data continues to support the case for Federal Reserve rate cuts.
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ETH UP OVER 40%
Did anyone else buy when I told you too?? Would be looking nice if you did.
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THE ETHEREUM HYPE CONTINUES
This article from Investing.com provides an insightful update on the current cryptocurrency market, specifically highlighting the recent dip in Bitcoin prices and the stability of Ether due to the hype around potential SEC approval of spot Ether ETFs. Reading this article will help your community stay informed about market trends, regulatory developments, and their potential impacts on cryptocurrency investments, particularly focusing on how these factors contribute to Ether's recent performance. Read the full article here
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