Cryptocurrency Market Update π
The cryptocurrency market witnessed a surge in the last 24 hours, with Bitcoin leading the rally by briefly touching $62,300 before stabilizing around $61,300. This uptick was driven by positive developments in the crypto space, including new ETF filings and optimistic regulatory outlooks.
New ETF Filings and Solana Price Surge π
- Asset manager VanEck surprised many by filing an S-1 registration form for a spot Solana ETF with the SEC.
- This move signals growing institutional interest in a wider range of cryptocurrencies, with an immediate 8% jump in Solana’s price.
Ethereum Gains and Market Liquidations πΈ
- The Ethereum price also saw significant gains, trading above $3,400, according to CoinGecko data.
- Market enthusiasm led to substantial liquidations, with over 33,000 traders liquidated in the past 24 hours, totaling $71.11 million.
- Short positions accounted for 60% of the liquidation amount.
Bitcoin ETF Inflows and Potential Regulatory Outlook π€
- Bitcoin spot ETFs saw net inflows, with total net inflow reaching $11.7997 million on June 27.
- Grayscale ETF (GBTC) experienced an outflow, but other funds like Bitwise ETF (BITB) and Fidelity ETF (FBTC) saw inflows.
- Bitfinex analysts shared insights on the potential impact of a Trump re-election on U.S. crypto regulation.
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