SHIB on Verge of Breakout? Here's What Shiba Inu Insider Says.

In a recent tweet, the Shiba Inu team's marketing lead, Lucie, addressed the SHIB army as she was pondering whether the SHIB meme coin is about to enter the "optimism,” stage, which promises a major price surge.

The next stages after "optimism" are "belief,” "thrill" and "euphoria," with price jumps even higher.

SHIB executive hints at possible surge soon.

Lucie published a screenshot of the "Wall Street Cheat Sheet," which shows all the psychological stages of a market cycle reached by assets, with all the ups and downs - disbelief, hope, optimism, belief, complacency, anxiety, denial and several others.

Lucie believes that Shiba Inu might be about to enter the "optimism" stage, which is characterized by a notable price increase. This step on the diagram is described as, "This rally is real."

"Optimism" is followed by "belief" ("Time to get fully invested," the diagram says), then comes "thrill” (“I will buy more on margin. Gotta tell everyone to buy!"), and "euphoria" (accompanied by slogans: "I'm a genius! We're all going to be rich!”).

SHIB price action.

The reaction of the SHIB army to that statement was mixed, with many optimistically agreeing with Lucie and expecting a price increase soon. However, many SHIB fans in the comments also expressed their doubt and uncertainty about Lucie's assumptions.

After the massive 11% decline that SHIB saw on Tuesday (with a large red hourly candle), the second largest meme cryptocurrency has been trading sideways, moving in a range between the $0.00001772 support and the $0.00001891 resistance, striving to break through the latter.

SHIB burns soar 530%.

Meanwhile, a major Shiba Inu metric, the burn rate, has demonstrated an impressive 530% increase over the past 24 hours. Thus, a total of 37,534,163 meme coins were transferred to unspendable blockchain addresses.

Out of 13 transactions, six were made from the same -d3e43 wallet, as it burned 15.8 million SHIB. The largest transaction, made by another wallet, carried 10,027,548 SHIB.

CYBRO Presale Rapidly Approaching $1 Million with 25M Tokens Already Sold Out.

CYBRO is a one-of-a-kind marketplace that amplifies the native yield potential of the Blast blockchain. CYBRO offers early investors to enter the project on favorable terms by joining the unfolding CYBRO token presale, which is set to hit $1 million as excitement builds within the crypto community.

At this stage, CYBRO tokens are available at discounts of over 2 times off their future market price, generating a generous ROI of 140%. Additionally, those investing a minimum of $1,000 in CYBRO during the presale will unlock weekly ETH rewards, available for withdrawal after the TGE. Moreover, CYBRO's referral program, active until July 15th, offers up to 12% extra earnings from token purchases across three referral levels, with weekly USDT payouts and double CYBRO Points for referees' first deposits.

The CYBRO token will unlock cashback in CYBRO, discounted fees for trading and lending operations, staking rewards, an exclusive Airdrop, and the Insurance Program. This solid utility will set a strong base for CYBRO to rise in value post-TGE in Q3 2024.

With CYBRO, you can grow your crypto by investing in various vaults on Blast, the only Layer 2 blockchain to offer default yield for ETH and stablecoins staking. CYBRO's ultimate goal is to provide users with the highest returns possible for each strategy, while ensuring a simple and transparent interface.

Bitcoin ETF Capital Drain Deepens With $139 Million Outflow.

The spot Bitcoin ETF ecosystem has continued to lose capital in what is a sustained bearish trend for the asset class. It remains unclear why Wall Street has continued to capitulate on its once aggressive Bitcoin ETF embrace, but the current disposition has triggered a sustained drawdown in the price of Bitcoin.

Per data from SoSoValue, a total of $139.98 million left spot Bitcoin ETFs on June 20. Grayscale Investments' GBTC turned out to be the biggest loser, with a total outflow of $53 million. Fidelity Investments came second, with investors pulling out $51 million.

Bitwise (BITB) also saw a total outflow of $32 million, while VanEck recorded $4 million in capital drain relative to its size. Invesco Galaxy Digital's offering saw a total of $2 million.

Not all the spot Bitcoin ETF products recorded outflows as BlackRock's iShares Bitcoin Trust (IBIT) broke the trend. The product recorded a daily volume of $565 million, while the net inflow came in at $1 million. There is a very thin line between Bitcoin ETF inflows and outflows, and from current market data, the products in question all showcased some form of an uptick in trading volume.

Over the past week, spot Bitcoin ETF products have recorded a net outflow of $900 million as June 20 marked the fifth straight day of outflows. This marks the product's worst performance since mid- April, shortly after the short inflow stint mid-month.

The impact of these bearish Bitcoin ETF trends has also trickled down to the lackluster performance of BTC. Over the past 24 hours, the price of the coin has dropped by 2.8%, and it is trading at $63,784.68. Bitcoin's trading volume is up 33.93% to $25,990,936,338, shining a light of confidence.

With this rebooted sentiment and hopes for a rebound on the spot Bitcoin ETF market, the price of the coin might reroute its trend in the short term.

HOTCOIN 🔥supported by Binance and OKX and Gate.io 🔥.

Important Airdrop on Telegram.

FOR Register : Put this link on google browser.

🔗
http://t.me/herewalletbot/app?startapp=621788

and get more free Coin.

Calling all crypto enthusiasts! Get ready to grab a piece of the pie with this massive airdrop from NEAR Wallet. They're giving away a whopping 455K HOTCOIN tokens, each potentially worth over $10! Think about it: that's like free money just for participating.

Here's why you shouldn't miss this:

Backed by giants: Binance Labs, Near Protocol, and Gate.io are all on board, adding legitimacy and potential for growth.
Trading like wildfire: HOTCOIN is already making waves on major exchanges like Binance, OKX, and Gate.io. This is your chance to get in early before it explodes!
Free mining, no investment needed: Simply use the NEAR Wallet and "mine" HOTCOIN every 2 hours. It's that easy!
Next-gen Telegram wallet: NEAR Wallet is a secure and innovative way to manage your crypto. Plus, it's integrated with Telegram for added convenience.
Don't wait! Secure your share of this airdrop before it's gone:

How to get this Airdrop.

✅FOR Register:  Put this link on google browser

http://t.me/herewalletbot/app?startapp=621788

XRP Price Prediction for June 20.

XRP/USD.

XRP is the only exception from the rule, rising by 0.55% since yesterday.

Despite today's slight rise, the price of XRP is coming back to the local support level of $0.4922. If its breakout happens, the fall is likely to continue to the $0.4850 area soon.

On the bigger time frame, neither buyers nor sellers are dominating as the rate is far from the main levels. In this regard, ongoing sideways trading in the zone of $0.4850-$0.50 is the more likely scenario until the end of the week.

A similar picture can be seen on the weekly chart. The price of XRP is trading in the middle of the wide channel, between the support of $0.4309 and the resistance of $0.5714.

The low volume confirms that there are low chances of high volatility until the end of the month.

XRP is trading at $0.4947 at press time.

Elon Musk Confirms Son 'Lil X' Still Hodls Dogecoin, DOGE Community Reacts.

Tesla CEO Elon Musk has recently confirmed that his son, affectionately known as 'lil X,' is still holding onto his Dogecoin (DOGE), much to the delight of the DOGE community.

This indirect confirmation came in response to a playful tweet by a Dogecoin graphic designer, "dogedesigner," who shared that 'lil X' is a dedicated toddler holder, never once suggesting selling his holdings.

"X is a toddler hodler. Never once has he said sell," Dogedesigner tweeted. Musk reacted with an affirmation, accompanied by a laughter emoji. This lighthearted confirmation quickly caught the attention of the crypto community.

This interaction has sparked a wave of reactions from the crypto community, with an X (formerly Twitter) user sharing a throwback to Musk's tweet from Feb. 10, 2021, which read, "Bought some Dogecoin for lil X, so he can be a toddler hodler." Another X user responded by asking, "how many Doge X has?"

The Dogecoin community has long been influenced by Musk's tweets, often seeing immediate market reactions to his statements. His latest tweet is no exception, as it has once again put the spotlight on Dogecoin.

Musk, who touted himself as the "Dogefather," has been a strong supporter of Dogecoin, frequently mentioning it in his tweets and even allowing it as a payment option for certain Tesla merchandise.

In May, Musk tweeted about the passing of the dog Kabosu, the face of the DOGE meme, which saw the Dogecoin price spike shortly after.

At the time of writing, the Dogecoin price was trading down 0.08% in the last 24 hours to $0.122, yet to post a reaction to the current attention it is receiving.

Toncoin (TON) Playing Catch up With Bitcoin, Transactions Go Parabolic.

Toncoin (TON), the native digital asset of The Open Network, is competing with Bitcoin's (BTC) dominance, with parabolic movements in a key on-chain metric. Within the past 24 hours, TON's price increased by 5.3% to trade at $7.24.

Toncoin competing with Bitcoin.

Renowned data analytics platform CryptoQuant says the transfer volume for TON ranges between $5 billion to $10 billion.

To put this in perspective, Bitcoin, the world's leading crypto, boasts an average daily transfer volume of about $50 billion. This translates to TON capturing roughly 10% of Bitcoin's capacity, a remarkable feat for a project that launched only four years ago.

Additionally, TON is witnessing a steady increase in its number of holders. On-chain data shows a 10x increase in token holders over the past year, jumping from 2.9 million to a current count of 32 million. This rise in adoption suggests a growing interest in the TON ecosystem and its potential applications.

Moreover, the TON blockchain has seen increased activity from large investors, popularly known as whales.
whale activity for Toncoin has surged by an impressive 376%. At the time of this writing, the market capitalization of TON has grown to $17.7 billion, eclipsing Cardano's (ADA) $14 billion.

Possible factors fueling TON's growing adoption.

The development of applications and functionalities built on the TON blockchain could be a key factor fueling its growth. TON is currently hosting over 650 decentralized applications (dApps) of various types. Notable success has been seen in its "Tap-to-Earn" apps like Notcoin (NOT), TapSwap and Hamster Kombat (HAMSTER), which is fueling interest in it on the market.

Also, TON offers unique features like lightning-fast transaction speeds and low fees, which could be attracting users to the platform. As the crypto market continues to evolve, Toncoin's long-term success lies in its ability to sustain critical support levels.

Cardano Bucks Bears As Large Transactions Climb To $10 Billion, Can This Drive Price To $1?

The Cardano decline in the past week seems to be coming to an end, as evidenced by on-chain data. While the overall crypto market has been in a slump, Cardano is starting to buck the trend. ADA, Cardano's native token, has seen a huge surge in on-chain transactions from large holders, indicating sporadic activity and interest in the blockchain. Notably, transaction data shows that Cardano has registered over $10 billion worth of large transactions in the past 24 hours, representing a 26% increase within the time frame. Furthermore, this puts the worth of ADA large transactions at $32.54 billion in the past seven days.

Cardano Large Transactions Climb To $10 Billion in 24 Hours.

Cardano, like most altcoins, has been going through a turbulent price action since the beginning of the month. This decline was further exacerbated by Bitcoin's drop below $65,000 in the past 48 hours. However, Cardano now seems to be building bullish momentum, particularly from large holders. In the past 24 hours alone, 27.17 billion ADA, amounting to $10.43 billion, was traded between large holders, according to ITB.

Interestingly, the number of Cardano large transactions jumped to 851 in the past 24 hours, which is a 107% increase from 410 of such transactions recorded on June 16th.

IntoTheBlock's large transaction metric measures the number of transactions larger than $100,000 on the blockchain. It's worth noting that while activity from this cohort has grown in the last 24 hours, it remains considerably below the transaction peak of 95,730 set on May 29.

Can The Activity Push ADA TO $1?

With activity from large holders starting to increase, a natural question is whether this can translate to significant price appreciation for ADA. Many analysts think ADA still has plenty of room to run if the crypto market recovers and turns bullish again. Cardano, for one, now has its 30-day MVRV ratio at -12.6%, which is a very bullish indicator for a bounce in the short term.

XRP, ADA: Good Sign for Potential Bulls, 'Rocket Fuel' Could Be Here: Report.

Popular on-chain data provider Santiment has published a tweet that may delight the XRP and ADA communities. This good news, per this report, shines despite a large number of traders who are shorting these two cryptocurrencies at the moment. These traders do not believe in the current altcoin bounce, the report says.

"Rocket fuel" for XRP, ADA could be on horizon

The tweet says that despite the heavy selling pressure on top 10 coins XRP and ADA at the moment from traders who are shorting them after recent price bounces, this is actually a good sign for potential bulls.

This shorting can act as "rocket fuel" for continuous price rises, the Santiment analytics team stated.

XRP and Cardano currently sit in seventh and tenth places on CoinMarketCap's top 10 list of cryptocurrencies, with their market caps holding at $27,712,761,245 and $14,013,014,797, respectively.

XRP, ADA recent price roller coaster.

Between Friday and Monday (June 14th and 17th), the Ripple-affiliated XRP coin saw an impressive 11% rise from $0.46712 to the $0.51843 price tag. However, that was followed by a likewise massive decline, when the coin slumped by 8.06% by Tuesday. Since then, XRP has been trading sideways, with a total increase of 4.5%.

ADA printed a sudden 10% decline between Sunday and Monday, which occurred largely due to a massive red hourly candle, which pushed ADA down nearly 7%. By now, Cardano's native coin has managed to recover by 6% and is changing hands at $0.394.

Shiba Inu Whale Buys $6.6 Million in SHIB - What's Happening?

In a significant move that has caught the attention of the cryptocurrency community, a Shiba Inu (SHIB) whale has purchased 353.83 billion SHIB tokens, worth around $6.6 million. The transaction, which was conducted on Binance, was hig hlighted by Lookonchain, a well-regarded blockchain analysis platform.

The whale currently holds 838.87 billion SHIB, worth around $15.5 million. Moreover, the whale's profit on SHIB currently stands at $6.12 million. This substantial acquisition comes at a time when the price of SHIB is experiencing mixed performance. Currently, SHIB is trading at $0.00001865, reflecting a 2.07% increase in the last 24 hours.

However, the cryptocurrency has seen a significant decline of 22.38% over the past 30 days, indicative of a bearish trend on the broader market. Shiba Inu, often dubbed the "Dogecoin killer," has experienced wild fluctuations in its price since its inception. The recent decline mirrors a broader downtrend in the market.

Despite a bearish phase, the latest whale activity suggests a strategic move to buy SHIB at lower prices, anticipating a future surge. This tactic is not uncommon among large holders, or "whales," who can influence market trends with their sizable transactions.

Implications of whale's move.

The whale's decision to purchase a significant amount of the meme coin and hold a total of 838.87 billion SHIB tokens signals a potential vote of confidence in the future prospects of the cryptocurrency.

The profit realization of $6.12 million further underscores the whale's adeptness at timing the market.

Such large-scale acquisitions can often lead to increased interest and speculation among retail investors, potentially driving up the price of the cryptocurrency. This phenomenon, known as the "whale effect," can create a ripple effect, influencing market dynamics beyond the immediate transaction.

While the current market conditions for
SHIB are bearish, the whale's substantial
investment suggests the expectation of a
price rebound.

Shiba Inu Team Lead Unveils Unexpected SHIB Game.

One of the core goals of the Shiba Inu project is to develop a wide range of utilities to serve its ecosystem. In a recent post from lead developer Shytoshi Kusama, a Shibarium game is in its late developmental stages. Placing the spotlight on the game, SHIB marketing strategist Lucie highlighted, in Kusama's words, what to expect from it.

While the Shibarium game is designed for the entire community, Shytoshi Kusama said it will be licensed solely to the decentralized team at Shiba Inu. The key goal here is that future enhancements can be introduced with relatable decentralized elements integrated into the mobile version.

As one of the new ways to engage the community, the developer is optimistic that the game will provide value to SHIB, LEASH and BONE, the ecosystem's core tokens. While the exact model of the game remains undisclosed, the expectation is that there will be in-app purchases, implying a full- blown economy surrounding the game.

With boosting the future valuation of SHIB being the primary underlying aim of the Shiba Inu team, burning features will also be introduced. Kusama confirmed that revenue from in-app game purchases will incentivize SHIB and LEASH burns.

It is worth noting that this Shibarium game
is different from Shiba Inu games, however,
they will act in a complementary manner.
With the teaser to the game unleashed, the
community remains ecstatic about the
potential timeline for the game's official
release.

Shiba Inu has been locked in a stagnant growth phase for a long time. However, at the time of writing, its price has inked a 1.07% gain in 24 hours to $0.00001865, but it remains below key expectations from long-term HODLers.

This Shibarium game and other key ecosystem fundamentals have the potential to reboot sentiment, drive demand for SHIB and fuel a price rally in the long term.

It's Over? Meme Coins Like Shiba Inu (SHIB) and DOGE Eye Dramatic Dominance Drop.

Ki Young Ju, founder and CEO of CryptoQuant, highlighted a significant shift on the market. According to Ju, the dominance of meme coins on the altcoin market is waning, suggesting a transition from speculative gambling to a more fundamentally driven approach reminiscent of earlier market phases.

This shift could mark the end of the meme coin craze that has gripped investors for the past few months.

Ju clarified that his bearish stance is specific to meme coins, not Bitcoin. He remains long-term bullish on BTC, suggesting that while the hype around meme coins may be fading, fundamental assets like Bitcoin continue to hold strong investment potential. This distinction is crucial, as it indicates broader market sentiment that seeks intrinsic value over speculative ventures.

It can be argued that meme coins act as leveraged plays on their parent chains. For example, tokens such as WIF and BONK are linked to Solana (SOL), while Shiba Inu (SHIB) and PEPE are linked to Ethereum (ETH). Such assets often experience volatile price movements that reflect broader market trends, but with amplified effects.

However, the flow of capital into financial markets typically sees funds move from less risky assets to more speculative ones. This cycle often leads to inflated valuations for meme coins, followed by significant capital withdrawals, causing market-wide downturns.

The decline of meme coins' dominance may signal the maturation of the market, where investors are beginning to prioritize assets with strong fundamentals over high-risk, high-reward plays.

'Bitcoin Trader Fatigue' on Display as Price Awaits Epic Breakout.

Many investors are waiting for the price of Bitcoin (BTC) to rebound after weeks of rangebound motion. While the prospects for a rebound remain high, market analytics platform Santiment has revealed that the market is currently experiencing "Bitcoin trader fatigue."

Bitcoin twist imminent.

Notably, Bitcoin trader fatigue was highlighted as a major troubling trend as this extended level of Fear, Uncertainty and Doubt (FUD) is rare, as traders continue to capitulate. Santiment pointed out that this disinterest in Bitcoin comes as the price of the coin hovers from $65,000 to $66,000.

According to the chart shared by the market analytics platform, the Weighted Sentiment of Bitcoin comes in at -0.800433. Amid this FUD, one intriguing trend is that Bitcoin whales are accumulating the coin at an alarming rate. Santiment noted that this negative sentiment, mixed with whale accumulation, often signifies upcoming bottoms.

What this signals essentially is that the sell-offs in the price of Bitcoin might soon shift gears, with prospective accumulation set to take over across the board.

At the time of writing, Bitcoin was trading for $65,849.86, up by 0.83% in the past 24 hours. While this uptick is not uncommon considering its latest price action, Bitcoin might need more visible accumulation for it to wriggle completely out of the bear zone.

Fundamentals are there.

Bitcoin is the most revered digital currency, a recognition that gives it an edge against elongated sell-offs. The presence of the spot Bitcoin ETF, the past halving cycle and corporate embrace is set to help return bullish energy to the coin.

At the current level, the volume is still showcasing a buildup in general interest as it is down by 44.26% to $19,148,407,098. A sustained return of inflows into the U.S. spot Bitcoin ETF might be a major trigger to watch out for in the long term.

DOGE Price Prediction for June 19.

DOGE/USD.

Unlike other coins, the price of DOGE has increased by 2.74% over the last day.

On the hourly chart, the rate of DOGE is closer to the resistance than to the support. If the breakout of the $0.1267 level happens, the rise may continue to the $0.13 range.

On the bigger time frame, neither buyers nor sellers are dominating. In this case, there are low chances to expect any sharp moves soon.

All in all, ongoing sideways trading in the zone of $0.12-$0.13 is the more likely scenario for the next few days.

From the midterm point of view, the price of DOGE is on its way to testing the support of $0.1064. However, if the weekly bar closes far from its low, one can expect a local bounce back to the $0.14 area.

DOGE is trading at $0.1219 at press time.

SHIB Price Prediction for June 19.

SHIB/USD.

The rate of SHIB has risen by 2.49% since yesterday.

The price of the altcoin is in the middle of the local channel, between the support of $0.00001797 and the resistance of $0.00001891. In this regard, sideways trading around the $0.00001850 mark is the more likely scenario until the end of the day.

On the bigger time frame, the situation is similar. None of the sides is dominating, which means there are low chances to expect sharp moves soon.

However, if the price gets back to the $0.000017 mark, there is a possibility to see a test of the support soon.

On the weekly time frame, the decline continues, and there are no reversal signals yet. Until the rate is below the $0.000020 mark, traders may witness a further correction.

SHIB is trading at $0.00001802 at press time.

Toncoin (TON) Skyrockets 376% in Whale Activity; What's Going On?

In a striking development, Toncoin (TON) whales have recently ramped up their activity. According to on-chain data, whale activity for Toncoin has surged by an impressive 376% as the market steers toward recovery following a bearish start to the week.

According to Into TheBlock data, Toncoin (TON), a cryptocurrency associated with the popular Telegram platform, has witnessed a remarkable surge in the last 24 hours in large transaction volume, a metric denoting whale activity. This surge, quantified at an impressive 376%, comes at a time when Toncoin is facing a price decline.

At the time of writing, TON was down 2.53% in the last 24 hours to $6.90, extending a two-day decline. Meanwhile, the large transaction volume for Toncoin has come in at 1.74 million TON in the last 24 hours, or $12.42 million worth, representing a 376% increase.

Toncoin set for rebound?

After an enormous rally that caused Toncoin to reach an all-time high of $8.24 on June 15, bulls might be taking a breather before the next major move. The MVRV indicator from Santiment suggests the likelihood of consolidation or range trading for Toncoin in the short term. The MVRV ratio compares the market value of a crypto-asset to its realized value, offering insights into average trader returns.

A lower 30-day MVRV suggests that the asset is undervalued and may be poised for a short-term price increase, while a higher ratio indicates overvaluation and the potential for a price correction.

According to Santiment, Toncoin currently exhibits a 30-day MVRV of -0.6%, which is considered neutral. This neutrality in the MVRV ratio implies that Toncoin's market value is closely aligned with its realized value, indicating that the asset is neither overvalued nor undervalued at this juncture.

In such a scenario, the likelihood of a short-term bounce is ambiguous, leaving investors to look for other signals to inform their trading decisions.

Dogecoin (DOGE) Market Mystery: On-chain Data Reveals Intriguing Holder Trend.

In a surprising twist on the Dogecoin (DOGE) market, on-chain data has unveiled a significant shift in holder behavior. According to a recent analysis by Into TheBlock, the largest Dogecoin whales have been steadily reducing their holdings over the past year.

The data reveals that the percentage of the total Dogecoin supply held by those owning more than 0.1% each has decreased from 45.3% to 41.3%.

This decline indicates that some of the largest holders of Dogecoin are lightening their positions, potentially altering the dynamics of the market.

Conversely, the same period has seen a notable increase in the share of Dogecoin held by retail and mid-sized investors. As whale holdings diminish, these smaller investors now command a larger portion of the total supply.

The on-chain data revealing the decrease in Dogecoin whale holdings and the subsequent increase in retail and mid- sized investor participation highlights a significant shift in the market.

As the dynamics of Dogecoin ownership evolve, market participants will be closely watching to see how these changes impact price movements and overall market activity.

DOGE price action.

At the time of writing, Dogecoin price was posting a rebound, up 3.14% in the last 24 hours to $0.123 after reaching lows of $0.113 yesterday in a two-day drop.

According to Santiment, crowd sentiment for Dogecoin has plummeted dramatically following its price decline, creating an opportunity for patient traders.

At its current trading level, DOGE is
currently positioned above a significant
on-chain support level. According to
Into TheBlock data, 41.78 billion DOGE were acquired at an average price of $0.103, showing a high demand zone that might be
critical if the market continues to
weaken. On the upside, DOGE may
encounter resistance near $0.137, where
10.9 billion DOGE are now held at a loss.

11,358 Bitcoin (BTC) Moved in One Hour - What's Happening Here?

Whale Alert, a popular blockchain tracker that traces large cryptocurrency transactions, spotted several consecutive Bitcoin transfers earlier today. These transactions moved close to a whopping billion U.S. dollars within just a single hour.

This happened as Bitcoin rebounded after its 4% decline on Tuesday.

11,358 Bitcoin on move.

The aforementioned blockchain tracker detected three consecutive transactions, which transferred 11,358 BTC in total – the - equivalent of more than $743 million.

These transactions carried 6,499; 2,359 and 2,500 Bitcoins. Just the first transfer alone was worth almost half a billion U.S. dollars.

These mammoth transactions took place between unknown blockchain addresses. The amounts of 6,499 BTC and 2,359 BTC were transferred from the same wallet, vtv93w.

Bitcoin recovers from recent drop on fourth day of Bitcoin ETF outflows.

On Tuesday, the world's flagship cryptocurrency, Bitcoin, sent ripples through the crypto market by falling 4.05% as the price went down to the $64,360 zone.

Since then, over the last 24 hours, BTC has printed a recovery, striving to break above $65,590. However, it was pushed back from this resistance level and is currently trading at $65,148.

Among the multiple factors that have caused Bitcoin to drop once again was the fact of spot Bitcoin ETFs seeing zero inflows on June 18. Grayscale Bitcoin Trust saw a major outflow of $62.3 million, which was surpassed only by Fidelity's ETF seeing $83 million in BTC getting withdrawn from it.

It was the fourth consecutive day of outflows, according to the @spotonchain analytics platform on X.

VanEck's Matthew Sigel Predicts Ethereum to $22,000, Here's Twist.

In a bold prediction, Matthew Sigel, Head of Digital Assets Research at VanEck, says Ethereum's (ETH) price could reach $22,000 by 2030. Sigel's projections coincide with a recent market rebound, which saw the price of Ethereum moving back to the $3,500 territory.

Matthew Sigel adds twist to Ethereum forecast.

Sigel's bullish prediction was released in VanEck's groundbreaking ETH 2030 report. According to the details, VanEck set a $154,000 bull case, a $22,000 base case and a $340 bear case for Ethereum.

While unpacking the report in a Bankless interview, Sigel highlighted that Ethereum must achieve a 70% market share of all layer-1 blockchains to reach the $22,000 base case. To provide context, he noted that Ethereum's market share is currently at 58%, in the past year. This is the market share of fees paid by users. Accordingly, he emphasized the need to improve Ethereum's scaling roadmap to get people to use its layer-2 solutions.

Sigel said the firm is getting more bullish on Ethereum and the broader crypto ecosystem He said this in response to questions about why VanEck revised Ethereum's base case forecast from $11,000 a year earlier. He also said the change was based on expectations of acceleration in the present bull market after the U.S. presidential election in November.

VanEck's crypto involvement.

Sigel added that Ethereum is a productive asset that lets anyone open a storefront on its network, with lower fees. He said VanEck has increased its overall penetration rate for open-source databases. In aggregate, the firm expects 7% of the current topline of financial applications from these databases.

Sigel explained the report was imperative based on the recent approval of spot Exch ange-Traded Funds (ETFs) by the U.S. SEC. Sigel added that there is an overall bigger market for income-producing assets than innate assets like Bitcoin (BTC). He, therefore, stated the Ethereum market could become bigger than Bitcoin - in a decade.

Exact Reason Behind Bitcoin (BTC) Drop Finally Revealed.

Bitcoin's drop below $65,000 was clearly unexpected, and the reasons behind it were quite shady and determining what exactly caused it is complicated. However, we might have an answer.

Recently, cryptocurrency hedge funds have completely given up on Bitcoin. Throughout the previous 20 trading days, they have decreased their exposure to the BTC market to just 0.37. This is the lowest level since October 2020. The charts show the price trend of Bitcoin from 2019 to 2024, emphasizing notable highs and lows.

Hedge funds' reduced exposure to Bitcoin offers an important reason for the recent steep decline in the cryptocurrency. The lower chart illustrates the rolling one- month beta of global crypto hedge funds to Bitcoin, demonstrating the degree to which hedge fund performance is influenced by changes in the price of Bitcoin.

A hedge fund's performance follows Bitcoin if its beta value is one, whereas a beta of less than one denotes reduced exposure. The drop to a beta of 0.37 indicates that hedge funds are far less vulnerable to changes in the price of Bitcoin than they were a few years ago.

Hedge fund exposure was last at this low point in October 2020 just before Bitcoin saw a notable bull run. Hedge funds are well known for their calculated actions and frequently have access to cutting-edge data and industry knowledge. They may have been expecting more drops or volatility based on their withdrawal from Bit coin.

There are a number of reasons for this cautious approach, such as shifting internal investment strategies, macroeconomic conditions or regulatory uncertainties. Since there has been less exposure, there has probably been more selling pressure on Bitcoin, which has pushed the price below the crucial $65,000 mark.

Given that they frequently have significant capital under their control, hedge funds have a significant influence on the market. The mood of the market and price action greatly affects the flow of funds.