🙀Coinbase is killing BTC price

Coinigy
2 min readJun 24, 2024

What’s up people 🤝

Welcome to another Coinigy roundup.

Sure we’re all waking up to the not-so-surprising but disturbing Bitcoin dip.

$60k?

C’mon 🙁

And the culprit isn’t another ancient whale that decided now’s the time to sell their treasure..

Coinbase is the one fumbling the market

On the upside, the SEC decided to drop their case against ETH…

it was a tough but necessary call, because they shot themselves in the foot with the Ethereum ETF approval 😂

Here are the highlights:

  • Coinbase sell pressure increases as Bitcoin dips below $61k, over $100 million liquidated
  • Bitcoin Plunges Below $63,000 as Markets Tumble
  • SEC drops investigation into Ethereum 2.0, in a major victory for the crypto industry
  • Binance Gets Into Airdrops With New ‘HODLer’ Rewards

Coinbase sell pressure increases as Bitcoin dips below $61k, over $100 million liquidated

On June 24, Bitcoin experienced a significant downturn, dropping approximately 3% to just below $60,600, marking its lowest price since May 10. This decline has been accompanied by substantial liquidations in the digital assets market. Coinglass data reveals that in the past 24 hours, $280 million of positions were liquidated, with $260 million being long positions.

Read More.

Bitcoin Plunges Below $63,000 as Markets Tumble

The cryptocurrency market is experiencing a significant correction today, with Bitcoin (BTC) dropping below the $63,000 mark and Ethereum (ETH) falling over 4%. The global crypto market cap has decreased by 3.7% in the past 24 hours, currently standing at $2.29 trillion.

Read More.

SEC drops investigation into Ethereum 2.0, in a major victory for the crypto industry

In a significant development for the cryptocurrency industry, the U.S. Securities and Exchange Commission (SEC) has closed its investigation into Ethereum 2.0, a move celebrated as a win for the sector. Scott Melker, host of The Wolf of All Streets podcast and Mario Nawfal, host of Mario Nawfal’s Roundtable, dove into the implications of this decision and what it means for the future of crypto regulation.

Read More.

Binance Gets Into Airdrops With New ‘HODLer’ Rewards

Binance, one of the world’s most popular crypto exchanges, has announced the launch of HODLer Airdrops, a rewards program for holders of its BNB token that will provide early access to tokens preparing to launch on the platform.

Read More.

Other Highlights Worth Mentioning

Bitcoin’s days below $70K are numbered as traders cite BTC’s swing low as the bottom — Cointelegraph

Ethereum gas prices, Bitcoin miner revenue both approach record lows — The Block

Coinbase International announces support for pre-launch market — Cointelegraph

FTX victims go after company’s assets from criminal forfeiture — Tradingview

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