Bitcoin (BTC) price dropped 7% on July 8 as it retested the $53,354 level, causing minor damage to bullish positions with $62 million in leveraged longs (buy) being liquidated. However, a subsequent 7% rally to $58,215 in less than 8 hours caught bears off guard, resulting in $96 million in short (sell) positions being forcefully terminated.
Bitcoin’s temporary intraday pullback took short sellers by surprise
On July 8, Bitcoin's price returned to the exact $57,200 level from 24 hours earlier. This liquidation data suggests that the entities betting on a price decline, which caused a 6,350 increase in open interest on July 7—equivalent to $355 million—used high leverage, possibly 20x or more. The price increase on July 8 wiped out all the gains in open interest.

Bitcoin aggregate open interest, 12-hour, BTC. Source: CoinGlass
This data helps explain why BTC derivatives continue to show moderate bullishness, creating a positive outlook for reclaiming $60,000 soon.
Cryptocurrency analysts believe that the transfer of 16,308 BTC by the German government to market makers and exchanges in the past 24 hours was a key factor in reducing Bitcoin traders' appetite. However, this event also provides a silver lining for bulls, as they have already sold half of the seized coins, indicating that the selling pressure is decreasing.According to trader and influencer RookieXBT, Bitcoin investors are likely to wait to add positions until the German government nearly completes their sales. Moreover, the potential sell-off from the Mt. Gox bankruptcy estate distributing coins after 10 years could impact the market. On the other hand, RookieXBT points out that the failed FTX exchange is expected to distribute cash to investors affected by its bankruptcy, which could be used to purchase cryptocurrencies.
The remainder of the analysis is highly debatable and more focused on long-term aspects, including the shift of the United States central bank to an expansionist monetary policy and the results of the U.S. Presidential election. Additionally, the ongoing stock market rally, which reached another all-time high on July 8, is often overlooked by analysts despite companies holding a record $4.11 trillion in cash and equivalents, according to Bloomberg.
The S&P 500 benefits from the high margins of tech companies and offers a relatively safe investment through dividends and the potential for market consolidation. Even if the economy slows down, a few cash-rich companies will be able to buy out competitors and expand their operations at a lower cost. In essence, a weaker job market partially offsets the recessionary environment as companies face less competition in hiring.
Bitcoin derivatives show resilience, but macroeconomic conditions remain uncertain
Besides the factors like the German government liquidating Bitcoin and potential FTX repayments, further support for Bitcoin's bullishness comes from the futures and options markets. In stable market conditions, monthly contracts typically trade at a premium of 5% to 10% over spot markets due to their longer settlement periods.

Bitcoin 3-month futures annualized premium. Source: Laevitas.ch
According to data from Laevitas.ch, the annualized premium for BTC futures stabilized near 8% since July 7. Despite this indicator hinting at worsening sentiment, it has remained at a neutral level, which is relatively positive considering Bitcoin's 11% price decline over the past seven days.
Related: Bitcoin weakness spurs $441M digital asset inflows
Analyzing the options market provides insight into the dynamics at play. In a market optimistic about rising prices, you would typically see a -7% delta skew, as put (sell) options become cheaper than similar call (buy) options. Conversely, a skew metric above 7% usually indicates imminent fear of price corrections.

Bitcoin 2-month options 25% delta skew. Source: Laevitas
The current -2% skew in the Bitcoin options market reflects a healthy market sentiment, particularly noteworthy as the BTC price approaches its lowest levels in over four months. However, it remains uncertain if the $55,000 support level will hold, given the FUD involving miners' sell pressure and the potential negative impact on Bitcoin if an economic recession is confirmed.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Ripple’s support range has held strong since May 2023.The MACD indicator signals a potential bullish rebound.
On the daily chart, Ripple (XRP) has been settling in a sideways triangular formation that indicates a balance between buying and selling pressures and raises doubts about the general trend direction. Sellers are finding it difficult to get below the $0.47 lower border of this pattern, which the price recently hit.
Strong holding of this support range since May 2023 indicates ongoing demand and strong buying pressure. As such, a mid-term bullish reversal appears plausible, which could result in little bullish moves toward the top edge of the triangle.
A quick fall below this crucial support, however, would lead to a large long-term liquidation and a steep short-term loss.
Short-Term Bearish Continuation Flag Pattern
The XRP price forms a bearish continuation flag pattern on the 4-hour chart, with a brief phase of lateral movement and erratic price activity near the critical $0.47 support zone. The price fell recently to the important $0.47 support zone and the bottom trendline of the pattern.

Should sellers be able to cross this threshold, a big and quick decline is expected. But the MACD indicator, which has recently turned green, suggests a potential bullish rebound.
This indication and the current demand around this important support point to more buying pressure and the possibility of a mid-term bullish turnaround.

Current XRP Market Data
CoinMarketCap data show that the price of XRP is about $0.4722 at the moment of writing, down 0.57% over the last 24 hours. Earlier, CNF featured Ambassador Bitrue, King Karan, who made a strong case for XRP and stressed that it would be the biggest mistake to ignore this cryptocurrency.
On the other hand, according to GSR research, XRP and Cardano face hurdles when it comes to ETF adaptation. GSR approaches decentralization critically, highlighting aspects like permissionless participation.

Ripple Vs SEC News: Ripple President Clears the Air on Lawsuit and XRP ETF
Ripple Vs SEC News: Ripple president Monica Long spoke about XRP lawsuit, payments, RLUSD stablecoin and potential XRP ETF launch in the future. XRP price fell ahead a key ruling in XRP lawsuit.
HIGHLIGHTS
Ripple president Monica Long weighs on Ripple Vs SEC lawsuit, payments, RLUSD stablecoin, and XRP ETF.Courts clarity on XRP allowed Ripple to focus on other use cases and expansion.XRP price trading sideways ahead key ruling in the Ripple Vs SEC lawsuit.
Ripple president Monica Long talked about key opportunities and challenges regarding Ripple Vs SEC lawsuit, payments, RLUSD stablecoin, XRP ETF, and more. The status quo in the XRP lawsuit amid recent developments and clarity on XRP from courts turned Ripple president bullish on a potential XRP ETF.
Ripple President Monica Long Weighs on Ripple and XRP
Monica Long, president of Ripple, said the company has come a long way after the district court’s decision on XRP as not a security, ruling against the U.S. Securities and Exchange Commission (SEC). The clarity on XRP allowed Ripple to focus on other use cases and expansion.
SEC has not slowed down its agenda against the crypto industry, challenging the growth of crypto, blockchain, and other related technologies in the United States. Despite stringent pressure, Long claimed Ripple has boosted payments infrastructure, XRP Ledger, and custody services through Metaco. Various partnerships were announced in XRP ledger developments and custody services to banks and other financial institutions.
RLUSD stablecoin will bring additional advantage in Ripple business and entry in markets with less liquidity. The stablecoin will not compete with XRP, but help in growing its adoption driven by DeFi and institutional investors. Standard Custody, which was acquired by Ripple earlier this year, will manage the reserve for RLUSD.
Ripple has infrastructure for RWA tokenization. Recently, Ripple and Archaxextended their existing collaboration to bring hundreds of millions of dollars of tokenized real-world assets on XRP Ledger. Wall Street giants such as BlackRock, JPMorgan, and Goldman Sachs have moved towards the technology.
Monica Long remains bullish on seeing issuers filing an XRP exchange traded funds (ETFs) due to several positive factors. XRP and Bitcoin are the only crypto assets with clarity from the US government.
Also Read: Ripple CEO Slams SEC Chair for Saying Crypto Executives “Go to Jail”
XRP Lawsuit Nears Ruling
Ripple CLO Stuart Alderoty stated the SEC to put aside its demand for $2 billion in fines. He slammed the SEC for bad faith and clearly having issues with Ripple Labs’ thriving business.
Lawyers and former SEC officialsanticipate the SEC may not file an appeal against Judge Torres’ summary judgment. The crypto community awaits Judge Torres’ verdict on penalties and final judgment in the remedies phase, which is likely to come in July.
Meanwhile, XRP price continues to trade under $0.48 this week, with the price currently trading at $0.473. The price failed hold upside level amid the uncertainty and bearish sentiment. The 24-hour trading volume slumped 27% and indicates traders’ lack of interest.

Notice of Removal of Spot Trading Pairs - 2024-06-21
2024-06-19 11:00
This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians, 
To protect users and maintain a high quality trading market, Binance conducts periodic reviews of all listed spot trading pairs, and may delist selected spot trading pairs due to multiple factors, such as poor liquidity and trading volume.
Based on our most recent reviews, Binance will remove and cease trading on the following spot trading pairs:
At 2024-06-21 03:00 (UTC): BETA/BTC, SEI/TUSD, TIA/TUSD
Please note:
The delisting of a spot trading pair does not affect the availability of the tokens on Binance Spot. Users can still trade the spot trading pair’s base and quote assets on other trading pair(s) that are available on Binance. 
Binance will terminate Spot Trading Bots services for the aforementioned spot trading pairs at 2024-06-21 03:00 (UTC) where applicable. Users are strongly advised to update and/or cancel their Spot Trading Bots prior to the cessation of Spot Trading Bots services to avoid any potential losses.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise. 

In Brief
Bitcoin is trading at $66,623, with weakened altcoin sales.BTC's key support loss triggered new lows in altcoins.ETH price bounced from the 50-day SMA level of $3,415.

The leading cryptocurrency is trading at $66,623, while altcoinsales have weakened. BTC is still not in a safe zone. Significant losses are normal amid weak risk appetite and long-term investors selling. What levels can be tested in the coming days? What awaits investors at this stage? Current price predictions for Bitcoin and Ether.
Bitcoin (BTC)
Bitcoin, searching for a short-term bottom, continues to close above $66,000 for now. The loss of the key support level in BTC price triggered stop levels in altcoins, creating new lows. If BTC can initiate a recovery, abnormal demand for altcoins may be seen at current levels. Access NEWSLINKER to get the latest technology news.

BTC price fell below $66,147 but reclaimed the region representing the 50-day SMA. Now, $67,863, which corresponds to the EMA20, needs to be reclaimed. While the RSI is negative, the 20-day EMA has turned downward, which is discouraging. If the 50-day SMA level is lost, we could see a deeper correction in Bitcoin price down to $60,000.
In the bullish scenario, either the EMA20 will be reclaimed from the current level, or a bounce from around $65,000 will be expected. The only trigger for a jump to $70,000 would be details favoring risk markets in the Fed’s monetary market report to Congress this coming Friday.
Ethereum (ETH) ETF
While everyone expected approval in June, SEC Chairman Gensler gave a broad timeline until the end of summer for S-1 Form approvals. Bloomberg ETF experts say the normal process is being followed, and the SEC could approve exchange listings on July 2. On June 14, the ETH price bounced from the 50-day SMA level of $3,415, partly for this reason.

Ethereum (ETH) ETF
While everyone expected approval in June, SEC Chairman Gensler gave a broad timeline until the end of summer for S-1 Form approvals. Bloomberg ETF experts say the normal process is being followed, and the SEC could approve exchange listings on July 2. On June 14, the ETH price bounced from the 50-day SMA level of $3,415, partly for this reason.
Here, the 20-day EMA level, which needs to be closed above, corresponds to $3,612. Beyond this, the rally could extend to $3,730 and $3,977. In the opposite scenario, losing $3,415 could see ETH price drop to $2,850. Below $3,362, there is a risk similar to BTC’s $60,000 risk, with a potential drop to $3,000.

The increased selling from Bitcoin miners comes as revenues remain low following the halving.
Bitcoin (BTC) has fallen 4.5% in the past seven days, going to a monthly low of $65,000. This plunge in the digital asset’s value could be linked to increased selling from mining entities.
In the latest CryptoQuant weekly report, analysts revealed that the number of BTC sent from Bitcoin mining entities to exchanges has reached a two-month high amid a decline in their revenues due to lower transaction fees.
Miner Selling Hits Two-Month High
On June 9, the hourly transfer of BTC, mainly from the btc.com mining pool, to the crypto exchange Binance hit a two-month high of more than 3,000 BTC. The next day, miners sold at least 1,200 BTC via over-the-counter desks, recording their highest daily volume since late March, when the daily volume totaled 1,600 BTC.
Large Bitcoin mining companies have also increased their selling activity. One such is the U.S.-based Marathon Digital, which has offloaded 1,400 BTC so far in June. The entity’s June sale represents 8% of its total holdings, a major increase from the 390 BTC it sold in May.
The increased selling from Bitcoin miners comes as revenues remain low following the halving. Daily miner revenues have plunged to approximately $35 million, down 55% from $78 million, a peak reached in March.
Daily Bitcoin transaction fees now hover around 65, a massive drop from the 117 recorded before the halving. In addition, median transaction fees have stayed low in USD terms despite the record-high number of transactions seen on the network in the past few weeks.

CONTENTS
1. Overview
2. Binance coin price prediction: Technical analysis
3. Binance coin price analysis: BNB devalues to $606.9 amidst a downside
4. BNB technical indicators: Levels and action
5. BNB price predictions June 2024
6. BNB price predictions 2024
7. BNB price predictions 2025 to 2030
8. BNB market price prediction: Analysts’ BNB price forecast
9. Cryptopolitan’s Binance coin price forecast
10. BNB historic price sentiment
Key takeaways
Binance coin price prediction for 2024 indicates that the coin’s price could reach a maximum price of $856.The Binance coin price prediction for 2027 projects a maximum price of $2,820 and a minimum price of $2,312.By 2030, BNB’s price could surge to $7,609 with broader acceptance in mainstream finance.
After notable changes in its executive team, Binance has shown resilience and prospects for recovery. The departure of Changpeng Zhao, Binance’s CEO, who was also embroiled in legal challenges, initially caused a decline in the value of Binance coin (BNB). Despite this initial setback, the cryptocurrency has shown a positive trend.
What next for BNB in the remainder of 2024 and beyond? Let’s get into the BNB price prediction and technical analysis.
Overview
CryptocurrencyBinance coinTokenBNBPrice$606.9Market Cap$89,419,523,182Trading Volume$1,449,727,963Circulating Supply147,584,098 BNBAll-time High$717.48 June 06, 2024All-time Low$0.09611 Oct 19, 201724-h High$609.0524-h Low$0.09611
Binance coin price prediction: Technical analysis
MetricValuePrice Prediction$721Volatility6.32%50-Day SMA$603.3114-Day RSI48.29SentimentNeutralFear & Greed Index70 (Greed)Green Days15/30 (50%)200-Day SMA$438.12
Binance coin price analysis: BNB devalues to $606.9 amidst a downside
TL;DR Breakdown
Binance Coin price analysis confirms the downtrend.Coin value has dropped down to $606.9 low.Strong support is available at $551.2 extreme.
The one-day and four-hour Binance Coin price analysis for June 16, 2024, confirms a declining price movement. The past two days proved in favor of the bulls, but currently the bears are on the lead. Overall, the market scenario of the past few weeks proved to be in favor of the bears, and today they secured a comeback once again. The cryptocurrency value has depreciated below $606.9 because of the intensifying selling momentum. If the selling pressure gains further momentum, a further decline in cryptocurrency value seems possible.
BNB price analysis on the daily timeframe: A downturn results in a loss below the $606 marker
The daily Binance Coin price analysis suggests a bearish trend for the day. The past two days proved to be supportive of cryptocurrency buyers, as buying activity remained considerably high. Today, however, a noticeable rise in bearish momentum can be observed. The overall value of the cryptocurrency has declined to $607 as a result of the latest bearish comeback. If we discuss the moving average (MA) indicator, then its curve is a steep slope. That is because of the continual downswing, as observed in the earlier week. Its value has dropped to $624.4 as a result of the bearish price movement.