VICTORIA, Seychelles, June 11, 2024 (GLOBE NEWSWIRE) -- WOO X Research, the analysis team of the global centralized crypto futures and spot trading platform WOO X, is pleased to share its latest market insights on the current trends in the crypto landscape.
Market Overview:
Due to the impact of US non-farm payroll data significantly exceeding expectations, BTC failed in its attempt to break through $72,000 and retreated continuously to $68,000, with further downward space opening up. This week will see the release of the CPI and the Federal Reserve's interest rate decision, which is expected to further stimulate BTC. Currently, an upward trend has not formed, so it is advisable to watch more and act less, reduce leverage, and wait for the end of this pullback before the main upward wave begins. In the short term, attention should be paid to the key supports at $68,000 and $66,000.
BTC Spot ETF:
BTC Spot ETF: As of June 10, updated data shows a total net inflow of $15.65 billion into BTC spot ETFs, with a single-day net outflow of $349 million and a single-day trading volume exceeding $472 million. The net assets of ETFs account for 4.47% of BTC's market cap. Key observations include:
- GBTC: Single-day net outflow of $40 million, cumulative net outflow of $18 billion, single-day trading volume of $166 million, current net asset value of $19.74 billion.
- IBIT: Single-day net inflow of $168 million.
- FBTC: Single-day net outflow of $3 million, cumulative net inflow of $10 billion, single-day trading volume of $176 million, current net asset value of $12.09 billion.
- ARKB: Single-day net inflow of $0, cumulative net inflow of $3 billion, single-day trading volume of $51.92 million, current net asset value of $3.41 billion.
Significant Daily Gainers:
- Chinese Concept Memes: The most watched in the market right now is PeiPei, with its highest market cap today exceeding $100 million, having risen more than 100 times from its bottom. Currently, its on-chain liquidity exceeds $2 million, with a 24-hour trading volume reaching $18 million. CHRETT is the Chinese concept counterpart of BRETT. BRETT recently hit a new high, with its market cap once exceeding $1.6 billion. Stimulated by this, CHRETT has risen 8 times from its bottom, reaching a market cap of $3.5 million, but it still has a considerable gap compared to BRETT.
- SPIKE (single-day increase over 50%): SPIKE is Matt Furie's first recorded artwork, followed by Hoppy, Pepe, Andy, Brett, Landwolf, Birddog. Its IP image is a pink dragon. On June 11, a new video was released detailing Spike's origins, drawing community attention. SPIKE's current market cap is $40 million, with on-chain liquidity of $808,000 and a 24-hour trading volume of $13.48 million.
- LeverFi (single-day increase of 13%): OmniZK is a Bitcoin security verification protocol launched by LeverFi, allowing developers to create complex, interoperable DeFi applications by shifting complex logic to the EVM network and verifying results through zkOracles relays. Recently, it was announced that the upgrade from the developer network to the testnet will take place on June 18. Stimulated by this news, the token has shown strong performance recently.
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Disclaimer
The content above is neither a recommendation for investment and trading strategies nor does it constitute an investment offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself.
