Before the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against cryptocurrency exchange Binance on June 5, some traders launched BNB sell orders worth tens of millions of dollars. Data from TradingView showed that at 11:45PM UTC on June 4 and 1:45AM UTC on June 5, there were BNB/USDT sell orders worth $37 million on the platform.
According to Coinalvze data, BNB's open interest, the total number of outstanding derivatives contracts held by investors, increased by nearly $30 million in the first nine hours of June 5, which also happened before the SEC announced charges that Binance commingled customer funds and operated an unregistered securities exchange. This is an obvious "collusion between officials and businessmen", setting up a mouse position to profit from it, and finally asking these retail investors to pay for them. How shameless!
In its lawsuit against Binance, the SEC mentioned that cryptocurrencies classified as securities include, but are not limited to, BNB, BUSD, and the following various crypto assets: SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI. According to the official announcement, Robinhood will terminate its support for Cardano (ADA), Polygon (MATIC), and Solana (SOL) at 6:59 am Beijing time on June 28. Before the deadline, users can continue to buy, sell, and hold ADA, MATIC, and SOL. After the deadline, any ADA, MATIC, and SOL held by users in their Robinhood Crypto accounts will be sold at market value. Affected by the negative news, ADA, MATIC, and SOL have fallen sharply, so don't take the knife. The big cake has not fallen much, but the altcoins have fallen into shit recently. In this market, altcoins can't be played. If you enter, you will be buried. You must be cautious in operating altcoins.
BTC：
Recently, altcoins have begun to fall independently, and the atmosphere of panic in the market has begun to spread, accelerating the flight of funds, which is not conducive to the rise in the future market. Bitcoin has partially gone out of the downward trend, and the 120-day moving average support has been broken again. The recent bearish momentum has become more intense. Hua Ge recommends continuing to keep a light position, operating cautiously, and waiting and watching.
eth:
Ethereum is greatly affected by the overall market. Although it is relatively strong, it cannot break out of its independent trend. It is expected to weaken along with the overall market. Positions in hand must be reduced if it falls below the 120-day moving average to prevent accelerated decline after breaking.
XRP：
xrp also began to rise and fall frequently. The selling pressure in the top range is very large. Under the condition of weak market, the probability of xrp breaking upward is relatively small. It is recommended to keep only a small position.
ARB：
The arb moving average begins to suppress the price of the currency. In the short term, the bears are still stronger. It is better to avoid risks and wait and see in the short term.
BNB:
The trend of bnb is in line with expectations. Due to negative pressure, it is difficult to get out of the good market. It is expected to continue to weaken in the short term.
Platform Coin:
The trend of bgb is very strong. Is it going to do ieo again recently? It is recommended to move the stop loss up to 0.47.
Wealth code:
The market is unstable recently, so we will not recommend any currency for the time being. Let’s wait and see for a while!
The above analysis is for reference only and does not constitute investment advice!