#ogn #crypto2023 #BTC #ETH How’s that boiis 🥂✌🏼

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Bitcoin price triggered a quick 2.05% downtick on Friday. Despite being a small downturn, altcoins took a massive hit and are down by double digits. BTC’s uncertainty has created a dilemma on whether they should buy the dip or sell. The cryptocurrency market has been extremely sensitive to Bitcoin (BTC) price moves lately. The recent crash caused altcoins to register double-digit losses. While some argue this could be a good opportunity to buy the dip, others warn of an impending sell-off. Bitcoin price moves have been key in controlling the crypto market sentiment. But lately, the altcoin sector has become extremely sensitive to pioneer crypto. On Friday, BTC shed 2.05%, which caused major altcoins to slide 20%. Due to this highly sensitive connection between BTC and altcoins, the Open Interest (OI) dropped from $50.93 billion on Thursday to $46.85 billion on Sunday. This drop indicates that $4.21 billion in OI was wiped due to the move on Friday. As a result of Friday's market crash, $300 million worth of positions were wiped out. Of this, $254 million belong to the bulls.

Ethereum open interest surges by 50%, SEC Chair says ETH ETF launch will take more time Ethereum ETFs ‘will take some time’ before they launch, according to SEC Chair. ETH's open interest on exchanges surged 50% to a new all-time high after SEC’s U-turn towards ETH ETFs. New accumulating addresses holding 10-10K and 10K-100K ETH have grown steadily after ETH ETF 19b-4 approvals. Ethereum (ETH) price hovered around $3,860 on Wednesday following Securities & Exchange Commission (SEC) Chair Gary Gensler expressing his opinion that the launch of spot ETH ETFs may be delayed. Meanwhile, Ethereum derivatives products on exchanges have seen a surge in open interest (OI). Daily digest market movers: ETH ETFs delay, rising open interest, new accumulating addresses growth In an interview with CNBC on Wednesday, SEC Chair Gary Gensler said spot ETH ETFs would "take some time" before they go live on exchanges, indicating S-1 approvals are not imminent. He noted that his agency is still working on disclosure measures with exchanges.

$BTC #BTC NYSE president commends Bitcoin ETFs amid skeptical views from financial advisors Lynn Martin, the New York Stock Exchange group president, says you can't argue with the success of Bitcoin ETFs. US financial advisors remain skeptical of Bitcoin ETFs amid market enthusiasm. An interview conducted by CNBC suggests that advisors are not recommending Bitcoin ETF investments, citing clients' safety as a reason. Five months after the approval of Bitcoin ETFs, financial investors still show restraint in recommending the largest digital asset. However, Lynn Martin, President of the New York Stock Exchange (NYSE), praised the ETFs' resounding success in an interview on Friday. Lynn Martin, the president of the New York Stock Exchange (NYSE), commended Bitcoin ETFs' current successes in an interview with CNBC on Friday. "I think you can't argue with the success of Bitcoin ETFs and the liquidity it has brought to the underlying markets," Lynn said. Lynn had earlier revealed her views on digital assets on Wednesday, stating her openness to cryptocurrencies and the NYSE's consideration for trading them if only the crypto market had clearer regulations. Meanwhile, US financial advisors still have skeptical views on investments in Bitcoin ETFs. Despite the enthusiasm surrounding Bitcoin ETFs, including its recent feat of hitting 1 million BTC in assets under management (AUM), these experts still hold reservations about the number one cryptocurrency. According to a CNBC report, most advisors stated that they are "neither initiating conversations nor fielding client inquiries about the ETFs." CNBC had surveyed a dozen members of an advisor council, including Baker. The results pointed out two major concerns of these individuals: volatility and regulatory uncertainties. Before the launch of Bitcoin ETFs, these advisors had previously cited Bitcoin's high volatility as a reason for their skepticism. However, many of these advisors believe that consistent inflows in the ETFs over the years would lower Bitcoin's volatility, making it more adoptable.

#pepe #btc $PEPE could set a new all-time high after large holders refused to book profit Large holders are still holding onto PEPE despite its recent all-time high. PEPE is on the brink of a new all-time high after an 8% rally. Investors must exercise caution as few addresses control 65% of the token's supply. PEPE is showing signs of a rally on Friday despite the refusal of large holders to sell. Other key on-chain data also support this move. PEPE is up nearly 8% on Friday, aiming to set a new all-time high above $0.000017. In May, PEPE rallied nearly 130%, setting and flipping new all-time highs along the way. The meme coin flipped Polygon (MATIC) and Litecoin (LTC) during its rise, making it the 21st largest cryptocurrency with a market cap of $6.55 billion. However, PEPE's historical concentration shows that most whales are still holding onto their positions despite the meme coins reaching an all-time high on Monday. Hence, it hasn't experienced a huge correction.

Bitcoin is gathering its strength Market picture The crypto market added 1.3% in 24 hours to $2.58 trillion. This is roughly the area where trading has been centred for the last week, despite attempts by speculators to rock the market. Volatility in the market has decreased, with prices of the major coins varying between -1.3% (Toncoin) and 3.3% (Solana), while Shiba Inu shot straight up 15% to its highest since early April. Bitcoin continues to hover near the upper edge of the descending range, building up strength before the next move. All we have to do is reiterate that an exit above $70K will break this bearish pattern. Until then, the classic development is a pullback to the lower boundary, but we see this as an alternative option, suggesting a further breakout after consolidation. According to CoinShares, net inflows into crypto funds totalled $1.05bn last week, up from $932m a week earlier. Bitcoin investments were up $1.01bn, Ethereum was up $36m, and Solana was up $8m. News background Cumulative ETF investments since the beginning of the year rose to a record $14.9 billion. The total AuM of crypto funds reached $98.5 billion. Weekly trading volumes rose 28% to $13.6 billion. CoinShares noted that sentiment is becoming generally positive, which is likely due to investors interpreting the FOMC minutes and recent macroeconomic data as slightly dovish. MicroStrategy founder Michael Saylor pointed out that 32 cryptocurrency ETFs have accumulated more than 1 million BTC (~$70bn)—or about 5% of all asset issuance. According to SoSoValue, the largest ETF is still Grayscale's GBTC, with $20bn in assets under management (AUM), almost caught up by its closest competitor, BlackRock's IBIT. Medical technology specialist Semler Scientific announced the purchase of 581 BTCs worth $40 million. According to the company, BTCs are now "the Treasury's primary reserve asset" because they are "a reliable store of value and an attractive investment." Semler Scientific shares jumped 28%.

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