VICTORIA, Seychelles, June 13, 2024 (GLOBE NEWSWIRE) -- WOO X Research, the analysis team of the global centralized crypto futures and spot trading platform WOO X, is pleased to share its latest market insights on the current trends in the crypto landscape.
Market Overview:
BTC: Bitcoin experienced significant volatility, with CPI data pushing BTC up from $67,000 to around $70,000. However, a hawkish statement from Powell lowered market expectations for future rate cuts, causing BTC to fall back to around $67,000. Key support to watch is $66,000; if it breaks, BTC might drop to $64,000.
BTC Spot ETFs:
As of June 12, updated data shows the total net inflow into BTC spot ETFs is $15.51 billion, with a single-day net inflow of $85.32 million and a daily trading volume exceeding $1.08 billion. The net asset value of ETFs accounts for 4.46% of BTC's market cap. Key observations include:
- GBTC: No daily net outflow, total net outflow $18 billion, daily trading volume $454 million, current asset net value $19.07 billion.
- FBTC: Daily net inflow $51 million, total net inflow $10 billion, daily trading volume $331 million, current asset net value $11.87 billion.
- ARKB: Daily net inflow $9 million, total net inflow $3 billion, daily trading volume $157 million, current asset net value $3.31 billion.
Significant Daily Movers:
CRV (Dropped 25%): Curve founder Michael Egorov's various CRV lending positions have begun liquidation. His main address on Inverse Finance is already seeing some CRV being liquidated. CRV crashed from $0.3605 to a low of $0.219, with a maximum drop of 37.7%.
IO (Up 50% in the last 24 hours): After being listed on Binance, it opened around $3.70. The cost for OTC users is about $5, leading to continued buying by large holders due to the price inversion. The trend is very strong, with the high point briefly surpassing $6.50. Its market cap is currently $550 million, with a valuation of $4.6 billion, matching RNDR.
MAGA (Up 21% in a single day): MAGA Hat is a meme token inspired by Trump's iconic hat, offering a 0% tax rate and being 100% community-driven. The token has surged over 60 times from the bottom, currently down 70% from its peak. Today's trading volume increased to $90 million. With the election approaching, tokens of this theme are likely to see recurring speculation.
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Disclaimer
The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself.
