Welcome, Crypto enthusiasts!

Traders are saying that the bitcoin bottom is here and it’s at 65k while Solana is loosing momentum to ETH.

In Today’s Blockstreet Journal:

• Bitcoins Bottom Is $65K

• Solana is loosing steam

• Market Rundown

• Top Gainers & Losers

• Airdrops & More News

Latest News

BITCOIN
🧑‍🚀 Bitcoins Bottom Is $65K 

Word On The Street: Despite testing the $65,000 support level on June 14, Bitcoin (BTC) has not closed below $66,000 since May 17.

The details:

• Favorable market conditions and resilience in Bitcoin derivatives metrics suggest that the downside is extremely limited.

• The U.S. Federal Reserve is under increasing pressure to lower interest rates to prevent an economic recession.

• Recent data shows that inflation remains above the Fed's 2% target, with the headline Consumer Price Index (CPI) at 3.4%.

Why it matters: Investors are moving towards equities and other scarce assets to avoid cash positions eroded by inflation and low bond returns.

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ALT COIN
🚂 Solana is loosing to Ethereum

Word On The Street: SOL's price is falling due to increasing odds of regulatory approvals for spot Ether exchange-traded funds (ETFs).

The details:

• The news regarding Ether ETFs coincides with Solana's declining market dominance.

• Since May 20, SOL's market share has fallen from 3.30% to 2.82%, while ETH's market share has risen from 15.78% to 18.04%.

• SOL's price decline today is part of a correction that started on June 6, when it retested its multi-week descending trendline.

Why it matters: SOL's price drop today also follows a sharp decline in decentralized exchange (DEX) users on its blockchain. As users leave the DEXs or the ecosystem, they might sell off their SOL holdings. This increased selling pressure, without a corresponding increase in buying demand, typically drives the price down.

Market Rundown

Fear & Greed Index

The global crypto market cap is $2.42T, a 2.07% increase over the last day.

The total crypto market volume over the last 24 hours is $59.87B, which makes a 7.96% decrease. The total volume in DeFi is currently $4.72B, 7.88% of the total crypto market 24-hour volume. The volume of all stable coins is now $54.78B, which is 91.50% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 53.92%, a decrease of 0.39% over the day.

Global Market Metrics

As of June 15, 2024, here is the current state of the cryptocurrency market:

- Total Market Cap: $2.42 trillion USD

- Total 24h Volume: $58.90 billion USD

- Bitcoin Dominance: 53.92%

- Ethereum Dominance: 17.67%

- Total Active Cryptocurrencies: 10,104

- Total Active Market Pairs: 82,611

- Total Active Exchanges: 781

Market Segment Breakdown:

- DeFi Market Cap: $81.99 billion USD

- DeFi 24h Volume: $4.72 billion USD

- Stablecoin Market Cap: $154.98 billion USD

- Stablecoin 24h Volume: $54.78 billion USD

- Derivatives 24h Volume: $520.84 billion USD

Top Gainers & Losers

🚀 Top Gainers

 💩 Top Losers

Airdrops & More News

DAILY AIRDROP
📦️ CoChilli Launch Airdrop

CoChilli has confirmed to launch the CHILLI token and do an airdrop for users who participate in the airdrop campaign. Sign up for the campaign and complete simple social and trading tasks to earn points. Earn more for inviting friends. Users who collect points will get the CHILLI airdrop after the token goes live.

Step-by-Step Guide:

1. Visit the CoChilli airdrop page.

2. Connect your wallet.

3. Now, complete simple tasks to earn points.

4. Making trades on CoChilli will give you even more points.

5. You will need some ETH and USDC to make trades on CoChilli.

6. Also, get 20% of the points from each referral.

7. Anyone who got rugged by ZKasino, staked PYTH or staked MANTA tokens will get additional points.

8. Also, complete the Zealy tasks to earn more points.

9. You will get CHILLI airdrop based on your points after the token goes live.

10. They’ve also hinted at airdropping PYTH and MANTA tokens to airdrop participants.

Other News

Drake on Brink of $1M Bitcoin Loss as NHL and NBA Bets Sour. A series of unfortunate sports losses have left Drake very close to losing $1 million worth of bitcoin bets.

Vitalik Buterin endorses TiTok AI for onchain image storage. TiTok AI, a new method for efficient onchain image compression, could be a useful tool for blockchain applications.

Nigeria Drops Tax Charges Against Binance Executives. The executives, Tigran Gambaryan and Nadeem Anjarwalla, are still named in a money-laundering case.

Fake federal employees target crypto investors, CISA warns. The Cybersecurity and Infrastructure Security Agency (CISA) warns of a surge in impersonation scams targeting crypto investors.

🫡 Thanks For Reading

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