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- Bitcoin Pulled a Bear Trap
Bitcoin Pulled a Bear Trap
PLUS: WIF Surges Double Digits
Blockstreet Journal
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Welcome, Crypto enthusiasts!
Bitcoin may have laid a significant bear trap causing upside price movements to resume.
In Today’s Blockstreet Journal:
Bitcoin Pulled a Bear Trap
WIF Surges Double Digits
Market Rundown
Top Gainers & Losers
Airdrops & More News
Latest News
BITCOIN
🐻 Bitcoin Pulled a Bear Trap
Word On The Street: Bitcoin begins the third quarter of 2024 on a high note as bulls aim to recover lost ground and approach all-time highs.
The details:
Bitcoin's strength is showing signs of recovery, maintaining support at the $60,000 level across weekly, monthly, and quarterly charts.
Building on a 4% gain over the past 24 hours, Bitcoin faces significant challenges to sustain its bull market momentum.
Following months of consolidation, Bitcoin has experienced two dips below the $60,000 mark, both appearing increasingly like bear traps.
Why it matters: As Bitcoin navigates the challenges and opportunities of Q3 2024, market participants remain cautiously optimistic.
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ALT COINS
🐶 WIF Surges Double Digits
Word On The Street: The price of Dogwifhat (WIF), a memecoin project based on Solana, soared by 16% in one day, hitting a high of $2.34 on July 1.
The details:
This surge is part of an ongoing rebound, with WIF's price having climbed 60% from its low of $1.47 just a week ago.
Dogwifhat has been forming a Bump-and-Run-Reversal (BARR) bottom pattern since early June.
Based on this technical analysis, WIF's upside price target for July is around $2.81.
Why it matters: A BARR bottom breakout usually pushes the price toward a level equal to the maximum distance between the lead-in phase trendline and the deepest bump point.
Market Rundown
Fear & Greed Index
The global crypto market cap is $2.31T, a 1.87% increase over the last day.
The total crypto market volume over the last 24 hours is $56.74B, which makes a 48.16% increase. The total volume in DeFi is currently $3.98B, 7.01% of the total crypto market 24-hour volume. The volume of all stable coins is now $52.41B, which is 92.37% of the total crypto market 24-hour volume.
Bitcoin’s dominance is currently 53.54%, an increase of 0.06% over the day.
Global Market Metrics
Current State of the Crypto Market (As of July 1, 2024)
- Total Market Capitalization: $2.31T
- Total 24h Trading Volume: $56.74B
- Active Cryptocurrencies: 10,117
- Active Market Pairs: 84,766
- Active Exchanges: 785
Dominance
- Bitcoin (BTC): 53.54%
- Ethereum (ETH): 18.02%
Market Segments
- DeFi Market Capitalization: $75.27B
- DeFi 24h Volume: $3.98B
- Stablecoin Market Capitalization: $154.61B
- Stablecoin 24h Volume: $52.41B
- Derivatives 24h Volume: $481.27B
Top Gainers & Losers
🚀 Top Gainers
💩 Top Losers
Airdrops & More News
DAILY AIRDROP
📦️ Blast Airdrop
Blast is airdropping 17 Billion BLAST tokens to users who participated in the Phase 1 airdrop and collected points. Eligible users have 30 days to claim the airdrop. A total of 50% of the total supply is allocated to the community with only 17.5% getting unlocked now. Phase 2 has also started so continue earning points for future airdrops.
Step-by-Step Guide:
Visit the Blast airdrop claim page.
Click on “Sign in to claim your airdrop”.
Connect your wallet.
Now click on “Claim Airdrop”.
Now watch a video about Blast.
Then, you will see the number of tokens you’re eligible to claim.
Tweet the mentioned tweet and then install the Blast App.
You will get four codewords from the app.
Submit the codewords to the claim page.
Now, go back to the app to claim your tokens.
The tokens will then be sent automatically sent to your wallet.
Eligible users have 30 days to claim the tokens.
Users that bridged ETH or USDB to Blast bootstrapped the initial liquidity on the Blast ecosystem and earned Blast Points throughout Phase 1. These users will be rewarded with 7% of the total BLAST supply.
Users that contributed to the success of Dapps earned Blast Gold and will be rewarded with 7% of the total BLAST supply
The Blur Foundation will receive 3% of the total BLAST supply to distribute to the Blur community for both retroactive and future airdrops.
The top 1,000 wallets are vested over six months.
You will need to reach certain point milestones to unlock the vested tokens.
Phase 2 has also started, so continue to bridge and collect points to be eligible for future phases.
Other News
German, US govt's move $150M in crypto. The German and U.S. governments make strategic moves with significant Bitcoin and Ethereum transfers, drawing market attention.
Biden's Blunder Ignites Trading Frenzy on Polymarket. Odds that the president will drop out of the race surged as high as 50% after the debate before leveling off at 40% on the crypto-based prediction market.
Vitalik Buterin proposes faster Ethereum trades with single-slot finality. Ethereum co-founder Vitalik Buterin proposed moving away from Ethereum’s epoch-and-slot mechanism to a single-slot finality system, pointing out key potential challenges.
CoinDesk 20 Performance Update: NEAR and AVAX Lead. Over the weekend, NEAR and AVAX led the CoinDesk 20 with only one asset posting a loss.
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