Bitcoin traders took over $12 billion in profits in the past month, per Santiment data. Amidst German Government’s Bitcoin transfers, Ethereum Exchange Traded Fund (ETF) optimism and the Securities and Exchange Commission (SEC) vs. Ripple lawsuit, market participants are taking gains ahead of the volatility-filled week.
The positive spikes in Network Realized Profit/loss (NPL) metric represent the gains of BTC traders.
BTC price vs. NPL
Key US macroeconomic events are lined up this week. Federal Reserve Chair Jerome Powell is expected to deliver a speech on July 2, FOMC minutes will be released on July 3 and Nonfarm Payrolls on July 5.
WIF/USDT daily chart
Dogwifhat (WIF) could extend gains by over 25% in its uptrend. The meme coin recently filled the Fair Value Gap between $2.3616 and $2.3281. The Moving Average Convergence Divergence (MACD) indicator shows underlying positive momentum in WIF price trend.
WIF could rally to $2.7699, the 38.2% Fibonacci retracement of the decline from the March 31 peak of $4.860 to the June 24 low of $1.487.
If WIF suffers a correction, the meme coin could find support at the FVG between $1.86 and $1.90.
German Govt. Bitcoin transfers
Crypto Market has potentially found a bottom, i've enough data to prove that
— hitesh.eth (@hmalviya9) June 25, 2024
ASI Phase 1 Token Migration
— Artificial Superintelligence Alliance (@ASI_Alliance) July 1, 2024
Exchanges have begun delisting of AGIX and Ocean, users may see their balances affected by this, we are working with all supporting parties to execute the migration, and then user balances will reappear as FET.
The first AGIX and OCEAN migrations…
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— Wu Blockchain (@WuBlockchain) July 1, 2024
$GME -7% premkt
— *Walter Bloomberg (@DeItaone) July 1, 2024
GAMESTOP SHARES SLIDE AS ROARING KITTY HIT WITH SECURITIES FRAUD LAWSUIT
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Crypto market capitalization climbed nearly 2% in the past 24 hours, crossing $2.429 billion per CoinGecko data.