📈 Today's Crypto Market Highlights
🔹 Bitcoin (BTC)
Market Dynamics: Bitcoin shows resilience as long-term holders move their coins, suggesting potential profit-taking or strategy shifts. With reduced selling pressure, a relief rally could be on the horizon.
Institutional Influence: Institutional interest remains robust, reflected in significant inflows into Bitcoin-related ETFs and investment products.
🔹 Ethereum (ETH)
Network Activity: Ethereum's network activity remains high, driven by DeFi and NFTs. Active addresses and transaction volumes continue to be strong.
🔹 Altcoins
Positive Sentiment: Altcoins see increased activity and interest due to network upgrades and strategic partnerships, driving investor confidence.
Notcoin (NOT): Notcoin has experienced a significant surge, breaking out of a descending triangle pattern with a 42.25% increase in the last week. Currently trading at $0.016, this altcoin could see further upward momentum if buying pressure continues.
Celestia (TIA): After months of downtrend, Celestia saw a 35.04% increase this week. Increased capital inflow, indicated by the Money Flow Index (MFI), has driven this altcoin’s price higher. If the buying pressure persists, TIA might revisit the $7 mark soon.
🔹 Market Sentiment
Cautious Optimism: Key metrics like NUPL and MVRV ratios suggest a cautiously optimistic market. Investor sentiment leans positive, supported by potential relief rallies as selling pressures ease.
🔹 Highlights from Recent Market Activity
Mt. Gox Liquidations: The market anticipates potential selling pressure in July from Mt. Gox creditor liquidations, with a rebound expected in August.
Li-Fi Protocol Attack: Li-Fi suffered a significant exploit, leading to the loss of around $10 million. The attack targeted users who had set infinite approvals, primarily affecting platforms like Jumper Exchange.
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