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⭕️BITCOIN IN CALO DOPO MASSIMO

⭕️BITCOIN IN CALO DOPO MASSIMO

Giorno: 07 giugno 2024 | Ora: 22:46 Bitcoin ha raggiunto un nuovo massimo storico ma poi ha subito un calo, perdendo gran parte dei guadagni settimanali. Anche il resto del mercato delle criptovalute ha subito una forte vendita mentre la febbre speculativa si è raffreddata. Nonostante gli ETF di bitcoin abbiano accumulato una grande quantità di asset, non è stato sufficiente per sostenere un rally di prezzo. La vendita di bitcoin è stata accelerata dalla pubblicazione di un rapporto sull'occupazione negli Stati Uniti che ha spinto al rialzo i tassi di interesse e il dollaro. Nel frattempo, le azioni di GameStop (GME) sono crollate durante la trasmissione di una livestream su YouTube, deludendo gli investitori. I meme coin come dogecoin (DOGE), shiba inu (SHIB) e pepecoin (PEPE) hanno registrato perdite significative. Nonostante gli ETF di bitcoin abbiano accumulato una grande quantità di asset, il mercato si chiede cosa sia necessario per un vero breakout al rialzo.

Bitcoin reached a new all-time high but then experienced a drop, losing a significant portion of its weekly gains. The rest of the cryptocurrency market also faced a strong sell-off as speculative fever cooled down. Despite Bitcoin ETFs accumulating a large amount of assets, it wasn't enough to sustain a price rally. The selling pressure on Bitcoin was intensified by the release of a report on US employment, which raised interest rates and strengthened the dollar. Meanwhile, GameStop (GME) stocks plummeted during a livestream on YouTube, disappointing investors. Meme coins like dogecoin (DOGE), shiba inu (SHIB), and pepecoin (PEPE) suffered significant losses. Despite Bitcoin ETFs accumulating a large amount of assets, the market wonders what it takes for a true upward breakout.

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Challenging an all-time high earlier Friday, bitcoin has pulled back, giving up most of its weekly gains

The selloff in the rest of the cryptocurrency market was far larger as speculative fever cooled

The spot bitcoin ETFs are on their largest accumulation steak since launch, but it wasn't enough for a sustained rally in price.

What was thought to be a challenge of all-time highs for bitcoin (BTC) has turned into a fast retreat in U.S. trading on Friday, with the world's largest crypto barely hanging onto a week-over-week gain.

At press time, bitcoin was changing hands at $69,000, down 2.5% over the past 24 hours. That was far outperforming the broader CoinDesk 20 Index, which is lower by 5% over the same time frame.

Among CoinDesk 20 constituents, ether (ETH) was off 4%, Tezos {{XTX}} and EOS {{EXOS}} 10% and Solana (SOL) 7%.

Challenging $72,000 earlier on Friday, bitcoin began headed lower in the U.S. morning hours after the government's employment report for May came in far stronger than expected with 272,000 jobs added. That seemingly dashed hopes for an imminent interest rate cut by the Federal Reserve, sending interest rates and the dollar sharply higher.

The selloff in bitcoin and crypto really picked up steam several hours later as Roaring Kitty held a hotly anticipated YouTube livesteam for the first time in several years. The trading legend perhaps disappointed those waiting for some sort of big announcement and instead said little of interest except for his hope that GameStop management will be able to transform the company into something of great value in coming years.

Already lower on the day, GME shares fell further during the broadcast, now off 40% for the session. The GME meme coin is down 50% from highs reached earlier Friday. A check of other meme coins finds dogecoin (DOGE) lower by 8% over the past 24 hours, shiba inu (SHIB) down 10%, and pepecoin (PEPE) off 15%.

In the meantime, bitcoin bulls might be left scratching their heads at what might be needed for a true upside breakout. The spot ETFs on Thursday completed an 18th-consecutive day of inflows, a steak not even accomplished during the frenzied price increases of February and March. Over that 18-day streak, the ETFs accumulated more than 56K bitcoins, according to HODL Capital, or nearly 7x the amount of bitcoin mined during that period.

Read more: Bitcoin’s Latest Rally to $71K Is Different From the March Breakout. Here's Why