Welcome, Crypto enthusiasts!

Bitcoin ETF’s now hold 6.5% of all Bitcoin and are helping Bitcoin prepare for it’s parabolic rise for this 4th cycle.

In Today’s Blockstreet Journal:

• Bitcoin Getting Ready To Moon

• Traders Say Dip Was “Shakeout”

• Market Rundown

• Top Gainers & Losers

• Airdrops & More News

Latest News

BITCOIN
🚀 Bitcoin’s Getting Ready To Moon 

Word On The Street: Bitcoin is poised to enter a "parabolic run" driven by increasing inflows into U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs).

The details:

• Spot Bitcoin ETFs have experienced positive inflows for 19 consecutive days, with nearly $1.7 billion added this week alone.

• As of June 6, more than $15.5 billion have flowed into spot Bitcoin ETFs, which now hold approximately 5.2% of all BTC in circulation.

• Bitcoin is trading above $71,000, relatively stable over the past 24 hours, and 3.6% below its all-time high of $73,835 from March 14.

Why it matters: The recent surge in inflows follows a revival in demand for digital asset-focused investments, with May seeing $2 billion in inflows due to growing investor confidence and a perception of increased regulatory acceptance.

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🔐 Secure Your BTC From Thieves 

Word On The Street: Hot wallets store private keys on systems connected to the internet, which makes them susceptible to online attacks. Keeping your crypto on an exchange also means you have no true ownership or control over it. If the exchange files for bankruptcy or pauses withdrawals, you lose access to your funds.

Hardware wallets store your private keys offline, giving you full control and enhanced security. Even if you misplace or lose your hardware wallet, you can get a new one and use your Secret Recovery Phrase to access your assets.

The details:

• Buy crypto like Bitcoin, Ethereum and more by credit / debit card and bank transfer. Also, swap or cash out your preferred coins.

• Get rewards by staking your ETH, SOL, ATOM, ADA and several other coins and tokens.

• Keep track of your crypto and NFTs, browse a wide range of services and providers, and get the best deals!

Use this exclusive link to protect your assets!

ALT COINS
🐂 Traders Say Dip Was “Shakeout” 

Word On The Street: The alt coin market experienced a downturn after U.S. employment data exceeded expectations on June 7. However, traders believe this is a brief “shakeout” before the upward trend continues.

The details:

• A weaker surprise could bring back rate cuts, and next week, we will get the CPI inflation report.

• If CPI is 3.3% or lower, it will likely push Bitcoin to new all-time highs.

• Total jobs in the U.S. increased by 272,000 in May, while the unemployment rate rose by 0.1%.

Why it matters: U.S. Employment Situation Summary Report revealed a higher-than-expected increase in jobs, contradicting crypto analysts’ predictions that a weaker employment report would prompt lower inflation, pushing Bitcoin to new highs.

Market Rundown

Fear & Greed Index

The global crypto market cap is $2.54T, a 3.66% decrease over the last day.

The total crypto market volume over the last 24 hours is $91.6B, which makes a 12.53% increase. The total volume in DeFi is currently $8.11B, 8.85% of the total crypto market 24-hour volume. The volume of all stable coins is now $85.43B, which is 93.26% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 53.80%, an increase of 0.58% over the day.

Global Market Metrics

Current State of the Cryptocurrency Market as of June 8, 2024:

- Total Market Cap: $2,544,225,419,127

- 24-Hour Volume: $91,602,118,050

- Active Cryptocurrencies: 10,077

- Active Market Pairs: 82,976

- Active Exchanges: 780

Dominance

- Bitcoin (BTC) Dominance: 53.80%

- Ethereum (ETH) Dominance: 17.45%

DeFi (Decentralized Finance)

- DeFi Market Cap: $87,940,144,130.67

- DeFi 24-Hour Volume: $8,115,210,389

- DeFi 24-Hour Volume Change: +48.59%

Stablecoins

- Stablecoin Market Cap: $155,386,421,340.42

- Stablecoin 24-Hour Volume: $85,432,866,001

- Stablecoin 24-Hour Volume Change: +10.45%

Derivatives

- Derivatives 24-Hour Volume: $613,666,448,654

- Derivatives 24-Hour Volume Change: +0.68%

Top Gainers & Losers

🚀 Top Gainers

💩 Top Losers 

Airdrops & More News

DAILY AIRDROP
📦️ D8X Trading Airdrop

D8X has collaborated with EtherFi and Angle. Interact with the exchange by trading and providing liquidity to earn up to 25% of the native yield and points. The team has set aside 30% of the D8X supply for the airdrop.

Step-by-Step Guide:

1. Visit one of D8X’s frontends, such as Octo.fi, FreelyPerps.com or DeFi Saint.

2. Complete trades and provide liquidity with collateral to earn yields and free points.

3. The team had announced that the more you trade, the bigger the airdrop will be.

4. The team has set aside 30% of the D8X supply for the airdrop.

5. Complete as many trades as possible and earn more points to increase your airdrop allocation.

6. You can also invite your friends to earn free WEETH and STUSD.

Other News

Rune Christensen Explains Why He Wants to Remake Maker and Kill DAI. The MakerDAO creator discusses the motivation behind the ambitious Endgame proposal in a wide-ranging interview.

Bitcoin return to $71K would wipe $1.38B shorts. If Bitcoin returns to the price it had been hovering around for the previous two days before the slight dip, it would wipe out a considerable number of short positions.

GameStop Tumbles 40% as Trading Icon Roaring Kitty Returns to Livestream. Solana-based meme token GME is down 50% from earlier Friday, but remains sharply higher for the week

DeFi TVL reaches $192B for first time in 15 months. The value of crypto locked in DeFi increased by 17% due to ETH appreciation and a rise in trading activity.

🫡 Thanks For Reading

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