Crypto market lost nearly 6% in market capitalization, down to $2.121 trillion. Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) erased recent gains from 2024.Â
LTC/USDT daily chartÂ
Litecoin is currently in a downward trend. The altcoin could extend losses by another 11.50% and drop to its November 14, 2022 low of $53.24. The red bars on the Moving Average Convergence Divergence (MACD) indicator support the bearish thesis for Litecoin.Â
A daily candlestick close above the Fair Value Gap at $65.58 could invalidate the bearish thesis and push LTC towards the upper boundary at $71.Â
UPDATE: Mt. Gox moving $2.71B BTC
In the past 8 hours, Mt. Gox wallets moved 47,229 BTC ($2.71B) from the cold wallet 1HeHL.
2701.8 BTC ($148.4M) was moved out of Mt. Gox wallets with 1544.7 BTC ($84.9M) sent to Bitbank through Gox address 1PKGG, and 1157.1 BTC ($63.6M) sent toÂ… pic.twitter.com/sJEuJB7GwC
— Arkham (@ArkhamIntel) July 5, 2024
NEW: Former Solicitor General under Obama, Donald Verrilli, says regulators are deliberately debanking #crypto:
“Despite the digital asset industry’s pressing need for banking services, federal regulators have waged a concerted, coordinated campaign to debank the industry.” pic.twitter.com/vL6E5vqPRd
— Eleanor Terrett (@EleanorTerrett) July 4, 2024
According to f2pool data, when Bitcoin fell below $56,000, only six mining machines were still profitable, including S21 Hyd, S21, A1466I, S19 XP Hyd, S19 XP and M56S++. At a rate of $0.08/kWh, ASICs less efficient than 23 W/T operate at a loss. pic.twitter.com/SUMOvv1Ot4
— Wu Blockchain (@WuBlockchain) July 5, 2024
German MP Joana Cotar strongly criticized the government’s decision to sell Bitcoin, believing that this move exacerbated market volatility and could have a long-term negative impact on the stability of the cryptocurrency market, and that Bitcoin should be used as a nationalÂ…
— Wu Blockchain (@WuBlockchain) July 5, 2024
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