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🇦🇺 𝗔𝘂𝘀𝘁𝗿𝗮𝗹𝗶𝗮 𝗪𝗶𝗹𝗹 𝗟𝗮𝘂𝗻𝗰𝗵 𝗙𝗶𝗿𝘀𝘁 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗘𝗧𝗙 𝗶𝗻 𝟮𝟬𝟮𝟰 The Australian Securities Exchange (ASX) could approve a spot Bitcoin ETF by the end of 2024. Bloomberg reports this. 🗣 According to BetaShares head of digital assets Justin Arzadon, the firm is preparing its Bitcoin ETF for listing on the ASX and has already reserved tickers. The influx of investment in the instrument in the United States “proves that cryptocurrencies are here to stay,” he added. Australia's $2.3 trillion superannuation market could help fuel inflows to funds, the article says. 🇭🇰 𝙏𝙤𝙢𝙤𝙧𝙧𝙤𝙬, 𝙩𝙝𝙚 𝙛𝙞𝙧𝙨𝙩 𝙨𝙥𝙤𝙩 𝘽𝙏𝘾 𝙖𝙣𝙙 𝙀𝙏𝙃 𝙀𝙏𝙁𝙨 𝙬𝙞𝙡𝙡 𝙗𝙚 𝙡𝙖𝙪𝙣𝙘𝙝𝙚𝙙 𝙞𝙣 𝙃𝙤𝙣𝙜 𝙆𝙤𝙣𝙜, 𝙩𝙝𝙞𝙨 𝙚𝙫𝙚𝙣𝙩 𝙬𝙞𝙡𝙡 𝙗𝙚 𝙖𝙣𝙤𝙩𝙝𝙚𝙧 𝙞𝙢𝙥𝙤𝙧𝙩𝙖𝙣𝙩 𝙨𝙩𝙚𝙥 𝙞𝙣 𝙩𝙝𝙚 𝙖𝙙𝙤𝙥𝙩𝙞𝙤𝙣 𝙤𝙛 𝙘𝙧𝙮𝙥𝙩𝙤𝙘𝙪𝙧𝙧𝙚𝙣𝙘𝙮 𝙩𝙝𝙧𝙤𝙪𝙜𝙝𝙤𝙪𝙩 𝙩𝙝𝙚 𝙬𝙤𝙧𝙡𝙙. $BTC $ETH #BTC #ETH #ETF

🇦🇺 𝗔𝘂𝘀𝘁𝗿𝗮𝗹𝗶𝗮 𝗪𝗶𝗹𝗹 𝗟𝗮𝘂𝗻𝗰𝗵 𝗙𝗶𝗿𝘀𝘁 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗘𝗧𝗙 𝗶𝗻 𝟮𝟬𝟮𝟰


The Australian Securities Exchange (ASX) could approve a spot Bitcoin ETF by the end of 2024. Bloomberg reports this.


🗣 According to BetaShares head of digital assets Justin Arzadon, the firm is preparing its Bitcoin ETF for listing on the ASX and has already reserved tickers. The influx of investment in the instrument in the United States “proves that cryptocurrencies are here to stay,” he added. Australia's $2.3 trillion superannuation market could help fuel inflows to funds, the article says.

🇭🇰 𝙏𝙤𝙢𝙤𝙧𝙧𝙤𝙬, 𝙩𝙝𝙚 𝙛𝙞𝙧𝙨𝙩 𝙨𝙥𝙤𝙩 𝘽𝙏𝘾 𝙖𝙣𝙙 𝙀𝙏𝙃 𝙀𝙏𝙁𝙨 𝙬𝙞𝙡𝙡 𝙗𝙚 𝙡𝙖𝙪𝙣𝙘𝙝𝙚𝙙 𝙞𝙣 𝙃𝙤𝙣𝙜 𝙆𝙤𝙣𝙜, 𝙩𝙝𝙞𝙨 𝙚𝙫𝙚𝙣𝙩 𝙬𝙞𝙡𝙡 𝙗𝙚 𝙖𝙣𝙤𝙩𝙝𝙚𝙧 𝙞𝙢𝙥𝙤𝙧𝙩𝙖𝙣𝙩 𝙨𝙩𝙚𝙥 𝙞𝙣 𝙩𝙝𝙚 𝙖𝙙𝙤𝙥𝙩𝙞𝙤𝙣 𝙤𝙛 𝙘𝙧𝙮𝙥𝙩𝙤𝙘𝙪𝙧𝙧𝙚𝙣𝙘𝙮 𝙩𝙝𝙧𝙤𝙪𝙜𝙝𝙤𝙪𝙩 𝙩𝙝𝙚 𝙬𝙤𝙧𝙡𝙙.

$BTC $ETH #BTC #ETH #ETF

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💥 Analyst Identifies Crucial Bitcoin Levels Bitcoin‘s price has recently surpassed the $71,000 mark several times but failed to reach $73,000 due to intense selling pressure. This pressure has resulted in a significant correction, causing the price to drop sharply. Despite this downturn 🔸 What Does the Daily Chart Reveal? TradingRage analyst’s insights emphasize critical price levels and predict potential future movements for Bitcoin. On the daily chart, Bitcoin has struggled to maintain its position above $66,000. The analyst interprets this as a correction phase, which is not a promising sign. The failure to break out of a descending channel formation is seen as a false breakout, adding to the bearish sentiment. During this period, Bitcoin’s Relative Strength Index (RSI) value has dropped below 50, suggesting increasing dominance by sellers. This scenario has fueled fears of a further downward spiral in the market. Currently, Bitcoin is holding at the support level of $60,000. 🔸 How Does the 4-Hour Chart Compare? Conversely, the 4-hour chart for Bitcoin presents a slightly more optimistic view. Although the price dipped just below the horizontal channel’s support level, it has shown signs of recovery. Should Bitcoin continue to move within this channel, it could potentially retest the $72,000 resistance area. However, a sustained break below this channel could lead to a deeper price decline. 🔸 Based on the analysis, here are some key takeaways for traders: Monitor the $66,000 level closely as it serves as a critical support point on the daily chart.A drop in RSI below 50 could indicate increasing selling pressure and potential further declines.Watch for false breakouts from descending channels, which may mislead short-term trading decisions.In the 4-hour chart, a recovery within the horizontal channel could provide opportunities to test higher resistance levels.A sustained break below the horizontal channel can signal a deeper downward trend, necessitating cautious trading. $BTC #BTC #Bitcoin
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👀 Terra’s Future After $4.47B SEC Settlement The Terra network and its leader, Do Kwon, once reached the top of the crypto world but collapsed within days in May 2022, wiping out the savings of many everyday investors. In February 2023, the U.S. Securities and Exchange Commission (SEC) sued Kwon and his company, Terraform Labs, for selling unregistered securities and defrauding investors during Terra’s dramatic collapse. Recently, Kwon and Terraform settled their SEC civil fraud case, agreeing to pay $4.5 billion in penalties and disgorgement. The settlement, approved by District Court Judge Jed Rakoff of the Southern District of New York on June 13, requires Terraform Labs to cease operations immediately and seek approval for a Chapter 11 liquidation plan in its bankruptcy case. 🔸 Terraform Labs Winds Down Operations Amid Legal Defeat Terraform Labs’s current CEO, Chris Amani, asked the community on Wednesday to take over the reins of the Terra network as the company winds down. “[Terraform Labs] always intended to dissolve at some point, and that point is now,” Amani said on X (formerly known as Twitter). “We will be winding down operations completely.” The SEC scored a major victory against Kwon and Terraform Labs two months ago when a jury found the company and its founder had conducted securities fraud through misrepresentations regarding Terra’s success and UST/LUNA stability. Before this legal defeat, Terraform Labs and its community were well-positioned to advance the Terra ecosystem, according to Amani. However, after the significant court loss, the CEO indicated that the company “can no longer operate.” 🔸 Terraform Labs to Sell Key Projects and Transition to Community Control Terraform Labs CEO, Chris Amani, announced that the company will sell several key projects, including the portfolio manager Pulsar Finance, the Cosmos wallet Station, and the Enterprise Protocol, which is used for creating DAOs within the Cosmos ecosystem. $LUNC #LUNC #TERRA
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📊 2 cryptocurrencies to reach $5 billion market cap in the second half of the year 🔸 Aptos (APT) Aptos (APT) is on the verge of reaching the $5 billion market cap milestone due to its remarkable performance and expanding ecosystem. Recently, Aptos achieved a record daily transaction volume, outpacing networks like Solana (SOL) and Sui (SUI) with its impressive 32,000 transactions per second (TPS) capability. The surge in activity is largely attributed to the game “Tapos Cat,” which significantly boosted network usage. Despite the campaign’s end, Aptos’s integration with major partners like Microsoft (NASDAQ: MSFT), Google Cloud, and Universal Pictures demonstrates its growing influence. Additionally, Aptos has integrated Chainlink’s CCIP and Data Feeds to boost decentralized app development. Currently priced at $7.90 with a market cap of $3.56 billion, Aptos is well-positioned to surpass the $5 billion mark. 🔸 Render (RNDR) Render (RNDR) is another cryptocurrency poised to break the $5 billion market cap barrier. It offers innovative blockchain-based rendering services for content creators and developers. Render has seen a steady upward trajectory, with a 23% increase in the past month and a 5% rise in the last week. The success of Nvidia (NASDAQ: NVDA) in the AI sector has bolstered confidence in AI tokens like RNDR, leading to substantial gains Render continues to expand its ecosystem through strategic partnerships and integrations with major digital content platforms and decentralized applications (dApps). Currently valued at $8. 02, Render has a market cap of $3.12 billion and strong potential to surpass its previous all-time high. Despite recent bearish trends, Render’s unique position in digital content creation and ongoing technological advancements could propel it to new heights. The past week has witnessed significant downturns in the cryptocurrency market, with overall valuations sliding by 20% and Bitcoin (BTC) by 5%. $APT $RNDR #APT #RNDR
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⚠️ 6 Cryptocurrencies To Avoid Trading This Week As Token Unlocks Loom Token unlocks refers to a phenomenon that ensures the release of previously locked tokens into the market, ramping up the supply. This stages as a potentially bearish event, prompting traders to steer clear of trading certain cryptos. Arbitrum (#ARB ) Trading at $0.9227, down 2.99% over the past day, ARB remains at the top of the list, poised to witness token unlocks worth $86.23 million. Data from the Token Unlocks App shows that 96.13 million ARB, equivalent to 3.32% of the circulation supply, will be unlocked on June 16. This has caused speculations over a potential waning price trajectory for ARB ahead. Space ID (#ID ) Meanwhile, ID traded at $0.5654, down 4.15% over the past day. The crypto stands firm to experience a token unlock of 78.49 million ID, worth $44.37 million, equivalent to 18.23% of the circulating supply on June 22. This significant unlock could trigger a slumping price action for ID ahead. Pixels (#PIXEL ) The PIXEL crypto witnessed a 3.84% plunge to $0.3621 today, readying for a $19.65 million worth of token unlock. Notably, 54.38 million PIXEL, equal to 7.05% of the circulating supply, will be unlocked on June 19. ApeCoin ($APE ) APE traded at $1.05 today, down 2.78% from yesterday. The token prepares for an unlock of $16.35 million worth of coins, equivalent to 2.48% of the circulating supply. A total of 15.60 million APE will be unlocked on June 17, igniting investor concerns about the token’s future price movements. Manta Network ($MANTA ) MANTA traded at $1.27, correcting 8.49% over the past day. The token prepares for a $10.8 million worth of unlock on June 18. Data suggests that 7.87 million MANTA, worth 2.42% of the circulating supply, will be released in the market. Render ($RNDR ) RNDR experienced a 2.56% fall to $8.05 today. The token readies for a $6.12 million worth of unlock on June 16. 760.57K RNDR coins, equivalent to 0.20% of the circulating supply, will be unlocked on the abovementioned date.
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📣 3 cryptocurrencies to avoid this week amid $150 million in token unlocks Three cryptocurrencies will unlock over $150 million in tokens this week, which cryptocurrency traders should avoid having substantial exposure to. These unlocks have the potential to flood the market, leading to increased selling pressure and significant price fluctuations. 🔸 Arbitrum’s (#ARB ) $85M token unlock First, Arbitrum (ARB) has the week’s highest unlock in USD value, with an $85.37 million supply inflation. This amount will increase Arbitrum’s circulating supply by 3.2% on June 16, likely creating a selling pressure. The event will release 92.65 million ARB from vesting contracts reserved for the team and private investors. Essentially, the former will receive 56.13 million ARB, worth $51.72 million, while the latter will receive $33.65 million of 36.52 million tokens. Arbitrum unlocks a similar amount of tokens every month, resulting in a yearly inflation superior to 35%. In May, Finbold reported the same 92.65 million ARB unlock worth $92.44 million. Therefore, the $7.17 million month-over-month loss of its contracts evidences the economic effects of this event. 🔸 Avoid trading Space ID (#ID ) and Pixel (#PIXEL ) Finally, Space ID (ID) and Pixel (PIXEL) make for the second and third-largest cryptocurrency unlocks this week. Vesting contracts will release 78.49 million ID on June 22, worth $44.45 million. This will inflate Space ID’s supply by 18.2%, being the most substantial token unlock this week. Moreover, 54.37 million PIXEL will enter the market on June 19, inflating the project’s supply by 7% at a $19.66 million valuation. However, crypto traders will try to speculate on the economic effects these unlocks and sell-offs may have on price, which could bring increased volatility and worsen the potential risk-reward ratio. The market is uncertain and influenced by multiple factors, requiring proper risk management and learning when to avoid trading specific cryptocurrencies. $ARB $ID $PIXEL
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