Hello everyone, I am Ali, from Wujie Club. Wujie Club is a crypto community club focusing on primary projects, secondary transactions, airdrop tutorials and on-chain capture. The club provides market analysis, trading strategies, the latest airdrop information and project investment opportunities, and is committed to helping club members obtain comprehensive information in the Crypto field.
1
Bitcoin falls below $58 for the first time, hitting a two-month low on Coinbase
Amid a broad sell-off in the cryptocurrency market, the price of Bitcoin fell to $57,874, and $54.9 million of Bitcoin long positions have been liquidated in the past 24 hours. On July 4, the price of Bitcoin on the Coinbase platform plummeted to $57,874, hitting a multi-month low and falling below the $58,000 mark. The price of Bitcoin subsequently recovered, but it still fell 3.4% cumulatively.
The crash resulted in the liquidation of millions of dollars in leveraged long positions, causing losses to traders who expected prices to rise. Similarly, long positions in Ether (ETH) were also hit hard, with a total of $57.9 million liquidated in the past 24 hours. The sharp fluctuations in Bitcoin prices were partly attributed to the BTC repayment plan of the collapsed Japanese cryptocurrency exchange Mt. Gox.
Meanwhile, other major cryptocurrencies and altcoins also experienced a sell-off as Bitcoin fell below $58,000. Ethereum fell 4.5% and hit a low of $3,145 in a sharp sell-off at 2:00 a.m. UTC on July 4. Binance coin (BNB) also suffered a 6% drop, sliding from $573 to $539. Solana was not immune, giving up most of its recent gains, falling 10.3% in the past 24 hours, from this week's high of $154 to $136. It is worth noting that despite the volatility, the discussion on social media about "buy the dip" is extremely enthusiastic. On platforms such as Reddit, X and 4Chan, the number of mentions of "buy the dip" doubled in just two days.
2
Crypto Market Downturn, How Will the Market Develop?
In the last 24 hours, the crypto market has experienced significant market turmoil, with the overall market value shrinking by a significant $91 billion. After a long period of long and short tug-of-war, the leader Bitcoin fell rapidly at 9 a.m. today, briefly falling below $58,000 and hitting a low of a week ago. Despite the pressure, Bitcoin fell by 5.72% in 24 hours, but has since rebounded, with the price back above $59,100. Meanwhile, mainstream altcoins generally followed the downward trend. In the crypto market, the liquidation event that occurred within one hour amounted to nearly US$100 million, accounting for half of the liquidation amount in the past 12 hours. In addition, mainstream tokens in the Ethereum ecosystem and Solana ecosystem also suffered varying degrees of losses, ranging from 8% to 20.46%.
The current cryptocurrency market is characterized by reduced volatility and weak trading volume. Once the price hits the edge of the range, the order book is prone to imbalance. The lack of new capital injection into the market is also a key factor in the difficulty of the market to meet market expectations. Since the middle of last year, the total market value of stablecoins in the crypto market has grown steadily, echoing the upward trend of the market. However, since the beginning of May, due to the failure of new funds to enter the market, the market value of stablecoins has been hovering around US$160 billion for more than two months, with insufficient market liquidity and lack of upward momentum.
Today’s recommendations are DUSK, ARK, HOT, and W.
1
DUSK
DUSK is the native token of Dusk Network. It is based on blockchain technology and is designed to provide fast, secure and scalable financial application infrastructure on Dusk Network. The total issuance of DUSK is 1 billion, which is to maintain its scarcity and value stability. As the token of Dusk Network, DUSK has great market potential in the context of the rapid development of blockchain technology and the increasing demand for financial applications. The current price is $0.240.
2
ARK
ARK coin is a digital currency based on blockchain technology, developed and launched by the Ark team in France in 2016. ARK coin aims to build a universal blockchain ecosystem to facilitate its application in actual business and daily transactions by simplifying the connection between different blockchain platforms. ARK coin has fast and low-cost transaction confirmation speed, which makes it have great potential in business and daily transactions. The current price is 0.349.
3
HOT
HOT coin is a cryptocurrency based on blockchain technology, the full name is Holo Token (HOT). It is the native token of the Holo network and is used for value transfer and exchange on the network. HOT coin aims to build a decentralized Internet ecosystem through Holochain technology to eliminate the centralization problem of the traditional Internet. HOT coin is based on blockchain technology and uses cryptographic algorithms to ensure the security of transactions and data. The current price is 0.00157 USD.
4
IN
"W tokens" or "Wrapped Tokens" generally refer to a token that encapsulates (or "wrapped") other cryptocurrencies (such as Bitcoin, Ethereum, etc.). This encapsulation process is achieved through smart contracts, allowing these tokens to be used on different blockchains or smart contract platforms, thereby achieving cross-chain interaction and liquidity. Tokens allow users to transfer and use assets between different blockchains without changing the original cryptocurrency. The current price is $0.312.
Club Recommendation Review
1.【acre】
Akro, as a leader in the Defi sector, has recently topped the list of gains again. Recently, many currencies in the Defi sector, such as Beta and Lever, have emerged and occupied a prominent position in the list of gains. For Akro, a small-cap currency that has no contracts on BN, our team gave a clear holding suggestion in the afternoon survey, that is, buy at around 0.0047. Soon after, Akro ushered in a wave of rapid growth, and the current price has climbed to 0.0056, an increase of more than 15%. We have once again successfully grasped the pulse of the market and accurately captured the hot spots.
2.【RAY】
Like AKRO, RAY is also a token project on Binance that only has spot but no contracts. As expected, this type of token is the easiest to rise, and you can also look for potential targets to ambush in this way. The club found that RAY has been consolidating at the bottom for too long and has signs of rising, so it chose to ambush. It is recommended to open a position at 1.5, and the highest rise is 1.81, an increase of more than 20%.
Anything produced by Wujie must be of high quality.
Unbounded Club is a crypto community club focusing on primary projects, secondary transactions, airdrop tutorials and on-chain capture. The club provides market analysis, trading strategies, the latest airdrop information and project investment opportunities, and is committed to helping club members obtain comprehensive information in the Crypto field.
Thank you for reading this. A-li is with you. I wish you a happy life. Good morning, good afternoon, good night, and see you next time. #US_Job_Market_Slowdown #BTC500K #Dusk/usdt✅