Welcome, Crypto enthusiasts!

The ETH/BTC pair is forming an inverse head and shoulding indicating a break out for Ethereum soon.

In Today’s Blockstreet Journal:

• Ethereum To Gain 50% On BTC

• Bitcoin Throws Mixed Signals

• Market Rundown

• Top Gainers & Losers

• Airdrops & More News

Latest News

ETHEREUM
👀 Ethereum To Gain 50% On BTC 

Word On The Street: Ethereum is poised for a potential surge of over 50% against its top-ranking rival, Bitcoin (BTC), which is trading at $65,629.

The details:

• This prediction is based on a technical setup known as the inverse-head-and-shoulders (IH&S) pattern.

• Ideally, this pattern resolves when the price breaks above the neckline resistance after the formation of the right shoulder.

• The pair is still awaiting a sustained run-up toward the common neckline resistance level at around 0.061 BTC.

Why it matters: From a fundamental standpoint, the potential launch of spot Ether ETFs could trigger the technically bullish scenarios discussed above.

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BITCOIN
🤷‍♂️ Bitcoin Throws Mixed Signals 

Word On The Street: Bitcoin starts the new week in a notably different mood compared to much of June, now trailing one-month lows.

The details:

• The BTC price action has taken a downturn after repeatedly challenging the $70,000 resistance level.

• Last week ended with BTC/USD down 4.3%, hitting one-month lows before a modest turnaround brought focus back to $66,000.

• As Bitcoin navigates a new week, key levels like $66,000 are crucial for maintaining market stability.

Why it matters: Currently, the BTC/USD pair is seesawing, awaiting a shift in the trading range. Bitcoin miners are adjusting to the new post-halving reality as a "capitulation" phase continues.

Market Rundown

Fear & Greed Index

The global market cap is $2.38T, a 2.13% decrease over the last day.

The total volume over the last 24 hours is $64.41B, which makes a 55.97% increase. The total volume in DeFi is currently $5.21B, 8.08% of the total crypto market 24-hour volume. The volume of all stable coins is now $59.28B, which is 92.04% of the total crypto market 24-hour volume.

Bitcoin’s dominance is 54.17%, an increase of 0.23% over the day.

Global Market Metrics

As of today, the cryptocurrency market exhibits the following key metrics:

• Total Market Cap: $2.38T

• Trading Volume: $64.41B

• Active Cryptocurrencies: 10,108

• Bitcoin Dominance: 54.17%

• Ethereum Dominance: 17.67%

• DeFi Market Cap: $76.94B

• DeFi Trading Vol: $5.21B

• Stablecoin Market Cap: $154.97B

• Stablecoin Trading Vol: $59.28B

• Derivatives Trading Vol: $558.21B

Top Gainers & Losers

🚀 Top Gainers

💩 Top Losers

Airdrops & More News

DAILY AIRDROP
📦️ Orderly Trading Airdrop

Orderly Network will be airdropping 100,000,000 ORDER tokens to various early participants. Orderly Merits participants, Orderly traders on EVM, Orderly traders on NEAR, and social campaign participants are eligible for the airdrop. Eligible users can check their eligibility now and wait for the claim to go live. Orderly traders on NEAR must bind their NEAR wallets to an EVM wallet by June 27th to be eligible for the airdrop.

Step-by-Step Guide:

1. Visit the Orderly Network airdrop eligibility page.

2. Connect your Ethereum wallet.

3. If you’re eligible, then you will see your ORDER allocation.

4. Eligible users are:

   • Users who earned Orderly merits via any Orderly-powered frontends will receive a portion of the airdrop based on their accrued merits.

   • Initial traders who supported Orderly from its start on EVM before the Orderly Merits Campaign began.

   • Early users who supported Orderly on NEAR up to June 10, 2024.

   • Community users on Galxe and Zealy who participated in campaigns and contributed to the project’s growth.

5. NEAR users must link their NEAR address with an EVM address by June 27th, 2024, to receive the airdrop.

6. The Road to The Order merits campaign is still ongoing, so continue participating by trading and earning merits to be eligible for the airdrop before the claim goes live.

7. For more information regarding the airdrop campaign and eligibility details, read this article.

Other News

Australia Gives Its First Approval of a Spot Bitcoin Listing to VanEck. Given ASX's size as the dominant exchange in Australia, its first approval, VanEck's bitcoin ETF, could lend greater legitimacy to crypto and its associated ETFs in the region.

SEC shoots down Ripple’s argument for a lower penalty. The SEC argued Ripple’s proposed lower civil penalty wouldn’t be enough, and there’s no comparison to its settlement with Terraform Labs.

Tether Debuts New 'Synthetic' Dollar Backed by Tokenized Gold. Users can mint new tokens using the company's new Alloy platform, which will be part of Tether's upcoming tokenization venture, CEO Paolo Ardoino said.

Stablecoins would help US keep up with China — Former House speaker. The need for the U.S. to implement dollar-backed stablecoins “couldn’t be timelier” as China continues to come up with its own solutions, former House Speaker Paul Ryan stressed.

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