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Bitcoin Crashes, Elon Pumps Dogecoin, and SEC Chief Exits

Author

Rich Webb
June 18, 2024 • Read Time: 8 minutes

If you think Vegas is wild, today's crypto casino raked in major drama with Springs and Plummets detouring through Regulation Station.

  • Tether launches Alloy on Ethereum, offering gold-backed synthetic dollars with asset tokenization potential. — Read More

  • UK election manifestos skip crypto discussion, missing economic and voter engagement opportunities. — Read More

  • Twitter's upcoming U.S. 'Financial Ecosystem' might leverage Dogecoin, stirring crypto buzz though specifics are still under wraps. — Read More

  • Following a stern stance from the Federal Open Market Committee, a massive $600 million was yanked from crypto investments, causing a sharp drop from $100 billion to $94 billion in total assets under management in just a week — Read More

  • Elon Musk's tweets send Dogecoin, SHIBA INU soaring, spotlighting social media's market sway. — Read More

Whales and bears push Bitcoin's rollercoaster ride, but U.S. miners are having a blast thanks to Trump and AI!

Bitcoin's Downslide Triggered by Big Players

Bitcoin dips 4.4% amid sell-offs by major holders and miners, says Bitfinex report.

Bitcoin Plummets as Crypto Markets Shed $100 Billion Overnight

Bitcoin dives to a monthly low of $64,000, coinciding with enormous $146M outflows from spot ETFs and a $100 billion wipeout across crypto markets. Bearish sentiment reigns following the Fed's rate stance, as altcoins also bleed red, with market cap tumbling below $2.5 trillion.

U.S.-Listed Bitcoin Miners Hit Record $22.8 Billion Market Cap

U.S. Bitcoin mining stocks soared to a new market cap high of $22.8 billion, driven by a surge in Core Scientific's stock after partnering with AI firm CoreWeave, and bolstered by Trump's pro-mining stance. Despite Bitcoin's slight downturn, the robust performance and strategic shifts in the mining sector suggest a reshaping of U.S. dominance in the cryptocurrency mining landscape.

Ethereum's rollercoaster price fights resistance, dreams of ETF blessings, and predicts a Bitcoin beating—hope springs eternal in crypto.

Ethereum Set to Surge 50% Against Bitcoin, Predicts Analysts

Ethereum (ETH) is predicted to outperform Bitcoin by over 50% as it mirrors its bullish reversal pattern from 2019-2021. Drawing from a classic inverse-head-and-shoulders pattern, this potential breakout could push ETH prices significantly higher by year's end.

Ethereum Price Fluctuates Amid Resistance Challenges

Ethereum struggles to surpass the $3,500 mark, teetering just below several key resistance levels despite potential for a rebound to $3,700. Bulls and bears clash near critical supports at $3,350, hinting a pivotal moment for ETH's short-term trajectory.

Ethereum ETF Frenzy: Will Approval Spark a Price Surge?

Speculation mounts as Ethereum teeters close to a powerful breakout, anticipating the approval of a spot Ether ETF that might turn the $3,500 price point. Market whales load up, suggesting a rally could be imminent, but with approval timelines uncertain, it's a high-stakes waiting game.

In today's crypto circus, Bitcoin bleeds, Binance maneuvers for dominance, Trump memes pump prices, and TON marries Telegram for millions.

Crypto Market Tumbles Amid Asian Trading and US ETF Outflows

In a rough trading session, Bitcoin, Ether, and other major cryptocurrencies experienced sharp declines, largely driven by continued profit-taking and significant outflows from U.S.-listed Bitcoin ETFs. Notably, Dogecoin and Solana led the downturn with Dogecoin suffering a 10.24% drop, exacerbating investor anxieties over short-term market stability.

Binance CEO Eyes Genesis Loan Book Amid Liquidity Crisis

Changpeng Zhao, Binance CEO, is exploring the purchase of Genesis' $2.8 billion loan book to secure a stronger foothold in the crypto market. Amidst ongoing liquidity shortfalls and collapsing players like FTX, Zhao's move could redefine market dominance while possibly sidelining competitors like Gemini and Circle.

Trump-Themed Solana Meme Coin Spikes After Pirate Wires Hack Rumors

A Solana-based meme coin, supposedly endorsed by Donald Trump, soared over 80% following a possibly compromised tweet from media outlet Pirate Wires. The crypto community is ablaze with speculation over the authenticity of the tweet and related token contract posting.

TON Blockchain's TVL Soars with Telegram Integration

TON blockchain hits a milestone with a total value locked (TVL) surpassing $600 million; attributing the surge to seamless integration with Telegram, which taps into its 900 million user base. Factors boosting TON include a strong performance by DeFi protocols like DeDust and the increase of in-app mini-games and digital payment options on Telegram.

When meme coins catch AI fever, even the mighty Floki can't resist the viral trend-exchange high hopes for cold cash at your peril!

AI Crypto Coins Tumble Amid Surging Public Interest

AI-related cryptocurrency tokens have seen a steep decline of over 20% in a week, coinciding with Google Trends revealing a spike in AI-related searches, a common signal of market tops. This trend aligns with Warren Buffett's age-old advice of buying low and selling high, hinting at a possible market bubble ready to pop.

Floki's Tumble Amidst Rising AI Meme Coin Mania

Floki ($FLOKI) takes a dive, plunging 9% overnight and 32% weekly, while novel AI-powered meme coins like WienerAI gain momentum with a promising $5.9M in presale investments. As meme coins evolve, Floki struggles with resistance levels and market shifts, highlighting a trend towards utility-based tokens in an increasingly crypto-savvy world.

Even in crypto, when the regulatory heat is on, the SEC's top brass prefer the exit door over the hot seat.

SEC Crypto Chief David Hirsch Steps Down Amid Regulatory Heat

David Hirsch, the head of the SEC's Crypto and Cyber Unit, has resigned after spearheading high-profile crypto cases; his departure highlights a pivotal moment for the SEC's crypto regulation strategy under political fire. His abrupt exit dispels rumors linking him to the memecoin platform Pump.Fun, intensifying the mystery around his next steps.