CRIX | Financial News

✅ Leading Bitcoin mining firm Marathon Digital has sold a significant portion of its Bitcoin production in May. According to their monthly report, Marathon sold 390 BTC, which is over 63% of the 616 BTC it mined during the month. 🟢 By the end of May, Marathon held $290.4 million in cash and cash equivalents. 🟢 While Marathon sold a large chunk of its BTC, other major miners showed different strategies. Riot Platforms did not sell any BTC in May, despite producing 215 BTC. CleanSpark produced 417 BTC but sold only 2.43 BTC. 🟢 After the recent Bitcoin halving on April 20, which cut mining rewards in half, Marathon managed to mitigate the impact by increasing the number of blocks won. They produced 616 BTC in May, a 27% decline from previous months, but won 170 blocks, marking a 32% increase from April. 🟢 Bitcoin miners are striving to expand and enhance efficiency. CleanSpark is actively involved in mergers and acquisitions, aiming to finalize new locations in Wyoming. Marathon is exploring international expansion with a new partnership in Kenya to optimize renewable energy projects and a pilot project in Paraguay. The company aims for 50% of its revenues to come from overseas by 2028. Bitcoin miners play a crucial role in optimizing energy infrastructure, balancing grid demands by adjusting their energy consumption flexibly. They can absorb excess renewable energy during high supply periods and reduce usage during peak demand times. #bitcoin CRIX Financial | News, Insights, Analysis

🤑 Bitcoin Price at $72K Could Ignite a New All-Time High Bitcoin is on the verge of a major breakthrough. If BTC hits $72,000, it could trigger a wave of liquidations, paving the way for a new all-time high, according to renowned analyst Willy Woo. 🔍 Key Points: Critical Resistance Levels: Bitcoin faces significant resistance at $71,500 and $72,000. Moving past these levels could liquidate $800 million in leveraged shorts across all exchanges. Liquidation Cascade: A push above $72,000 could lead to a cascade of liquidations up to $75,000, potentially resulting in a new all-time high. Woo noted,

"Tapping $72K is the fuse set to start a liquidation cascade."

Current Market Performance: Bitcoin is trading at $71,124, up 3.15% in the past 24 hours and 4.8% over the week. 🟢 Bitcoin is currently 3.4% below its previous all-time high of $73,740, reached on March 14. The recent price surge suggests a strong recovery and potential for further gains. Post-Halving Distribution: According to analyst Rekt Capital, Bitcoin has exited the "post-halving danger zone," with prices rising over 12.5% since May 6. This marks a solid end to the reaccumulation phase. Technical Breakout: On June 3, Bitcoin broke out of a two-week downtrend. However, it must turn the $72,000 resistance into support to enter the parabolic phase of the bull cycle. 📈 As Bitcoin edges closer to critical resistance levels, the market is bracing for a potential surge that could drive prices to new heights. Traders should watch for a decisive move past $72,000, which could signal the start of a parabolic ascent.l. #analysis #bitcoin CRIX Financial | News, Insights, Analysis

🐱 The GameStop (GME) stock position held by Keith Gill, known as "Roaring Kitty," has drawn accusations of market manipulation from Citron Research. The renowned short seller claims Gill's trading activities resemble manipulation rather than traditional investing, as GME's stock price is now 2,000% higher than when Gill first recommended it almost four years ago. In a June 3 post, Citron highlighted Gill's substantial gains, revealing he is up over $300 million on his GME position. This impressive profit could potentially make Gill the first GameStop billionaire by week's end if the stock price continues to climb. Gill's disclosed holdings include five million GME shares worth $115.7 million and call options amounting to $65.7 million, betting on a share price of at least $20 by June 21. Citron further alleges that Gill’s GME position might be financially supported by a larger entity, casting doubt on his ability to make such a large trade independently. Despite the controversy, GME's stock price has seen significant gains, up 21% on the daily chart and 71% over the past month, trading at $28 in pre-market on June 4. The backlash from retail investors against Citron's claims has been intense, with many pointing out past grievances with the short seller. 📊 Stay tuned for more updates on this developing story! #coins CRIX Financial | News, Insights, Analysis

⚡️ From Hamster Kombat's listing to Bybit layoffs over Not, Trump's conviction, and other key updates from the last week ⚡️ 🔴 Trump’s Promises and Legal Trouble: Former President Donald Trump has vowed to pardon the founder of Silk Road if re-elected and has discussed the idea of using Bitcoin to pay off US debt. However, Trump has been found guilty of paying a porn actress for concealing their sexual relations. This conviction, although significant, won't bar him from running for office unless he is imprisoned. The sentencing is set for July 11, with a potential sentence of up to 4 years. Meanwhile, the FreeTrump token surged over 700% on this news. 🔴 L0 Project’s Multitasking Scandal: The popular L0 project, anticipated to release a massive airdrop, has its founder cracking down on multi-accounters. A notable incident involved a user named Ruslan who got caught for naming his wallets sequentially, turning him into a meme in the community. 🔴 Hamster Kombat’s Partnership and Listing Delay: The beloved Hamster Kombat game announced a partnership with Ton but has delayed its listing, which was initially scheduled for May. We have previously analyzed the project and shared our expectations here. 🔴 Not Token Developments: Any Not tokens not staked or removed from the game will be burned on June 16. The token hit a new all-time high, and several Bybit employees "voluntarily resigned" following issues with Not deposits. 🔴 Telegram Wallet’s New KYC Rules: Starting June 3, Telegram Wallet will require users to provide their date of birth and phone number for all transactions except withdrawals. It remains to be seen how this will affect user adoption. 🔴 SEC’s Legal Troubles: The US court ordered the SEC to pay $1.8 million for abuse of power in the Debt Box case, further darkening the clouds over Gary Gensler. 🔴 FTX’s Ryan Salame Sentenced: Former FTX executive Ryan Salame has been sentenced to 7.5 years in prison. 🔴 CZ’s Imprisonment: Binance's former CEO, Changpeng Zhao, has begun serving his 4-month prison sentence in California. 🔴 BlackRock’s Achievement: BlackRock has surpassed Grayscale to become the largest BTC ETF fund. #recap #politics #coins #bitcoin CRIX Financial | News, Insights, Analysis

🔫 Dex sniping is a strategy where traders aim to buy tokens on decentralized exchanges (Dex) in the first candle of a listing, faster than other market participants. ⚙️ Snipers use bots to execute trades. The process involves: Monitoring new contracts on Dex before trading starts. The bot waits for trading to begin and then executes trades based on pre-set configurations. Further distribution usually happens automatically. Manual trading makes you more likely to provide liquidity for bots to close their orders against. Sniping appears to be a surefire strategy, especially when screenshots show someone turning $200 into $10,000. However, there are significant challenges: 📈 High Fees: To be the first, you must pay a substantial fee. There's always someone willing to pay more. 📈 No Time for Verification: You can't verify the contract. Honey pots, built-in purchase fees, and scams are risks you learn about post-purchase. 📈 Low Success Rate: In 90% of cases, your fee won't be enough to buy in the first candle, the token might scam, drop in value, or other issues may arise. The remaining 10% may grow enough to cover all expenses, but do you have the bankroll and patience to withstand the losing streaks? To get a bot, you have three options: Use a Free Bot: These take a commission from each trade. The risk of a scam is high, and you'll compete with other users for server resources. Buy a Bot: Prices range from a few hundred to several thousand dollars. These bots offer better functionality, including Honey pot protection, dedicated server resources, and a user-friendly interface. Create Your Own Bot: A good idea, with code examples easily found online. But do you have the necessary skills? Dex sniping can be lucrative, but it’s a battle of codes. The best code wins. There’s plenty of advertising for these bots online, so always do your own research (DYOR) before investing money. ⚡️ If you’re interested in this topic, show some reactions! We’ll release more content with specific software and trade examples. #coins #tips CRIX Financial | News, Insights, Analysis

🤑 Analysis of the New Market Leader in Trading Volumes 🤑 Recently, a new token has captured traders' attention, becoming the leader in trading volumes on all major exchanges. This has raised several questions: What’s behind the hype? What’s driving the growth? Is it too late to buy? And most importantly, when should you sell? The reasons behind the growth are clear. DWF has demonstrated their expertise, evident from the trading volumes and interest in the token. The token’s price history is short, which complicates the analysis. However, there are key levels to watch: $0.03 — a round level $0.036 — the listing high The recent seller reaction signals the start of distribution, potentially leading to a reversal and correction. We expect the rally to slow down, transitioning into a sideways movement. In the short term, the price might reach $0.03 or the listing high, followed by a deeper correction to around $0.011. 🟢 Recommendations: To better determine the reversal point, it’s important to monitor on-chain data and order books. Deciding whether to sell or hold the token is personal. If you are long-term oriented and believe in the altseason, holding the token makes sense. For profit-taking, the $0.02-$0.03 range seems attractive. We do not recommend buying at this moment; it’s better to wait for more favorable conditions. #analysis #notcoin CRIX Financial | News, Insights, Analysis

🇳🇬 Despite President Tinubu’s crackdown on P2P crypto trading, Nigerians' enthusiasm for Bitcoin remains strong. Google Trends shows Nigeria as the leading country for Bitcoin interest, especially in states with low bank penetration and high millennial populations. Surprisingly, Lagos, the commercial hub, doesn't rank in the top 15 cities for Bitcoin searches. 💵 Stablecoins like Tether are also popular, helping hedge against inflation. However, the Nigerian government is intensifying regulatory measures, including a potential ban on P2P crypto exchanges and actions against Binance. #politics CRIX Financial | News, Insights, Analysis

🏛 Senator Cynthia Lummis criticizes President Joe Biden for missing a chance to correct his stance on crypto by vetoing the repeal of controversial crypto accounting guidelines. Lummis argues Biden doubled down on failed policies and vows to keep fighting for crypto innovation and protections. The SEC's SAB 121 guidelines require firms to record customers' crypto assets as liabilities, making it unattractive for banks. Despite bipartisan support in Congress to overrule these guidelines, Biden's veto has intensified the debate. #politics CRIX Financial | News, Insights, Analysis

✅ Changpeng Zhao, founder of Binance, has started his four-month sentence at Lompoc federal prison in California. This was confirmed by his legal team. The crypto community has shown strong support for CZ, viewing his sentence as a positive step to protect Binance. One Reddit user noted,

“If FTX downfall hit Crypto hard, just imagine what would happen if Binance collapsed. He pleaded guilty and stepped down as CEO.”

After his sentence, Zhao plans to return to the crypto world, maintaining his holdings and engaging in passive investing. He emphasizes this period as

“a new stage for the crypto industry,”

highlighting regulatory compliance. In April, Zhao was sentenced for money laundering charges related to his exchange. He was also fined $50 million. Despite initial guidelines suggesting a longer term, CZ’s lawyers negotiated a reduced sentence. #coins CRIX Financial | News, Insights, Analysis

🤑 Binance Coin (BNB) Price Prediction for June 1 Market Overview: Neither bulls nor bears are currently dominating the market. The rate of Binance Coin (BNB) has shown a modest increase of 0.78% since yesterday, indicating a slight bullish sentiment. Short-Term Analysis: On the hourly chart, BNB has broken through the local resistance level of $596.5. As long as the price remains above this level, buyers hold more power than sellers, suggesting a potential for continued upward movement. Mid-Term Analysis: Despite the recent rise, the daily chart indicates that sideways trading is the more likely scenario. The price is still far from the main support and resistance levels, implying limited volatility in the near term. We can expect BNB to consolidate within the narrow range of $590-$610 over the next few days. Overall, significant price movements are unlikely in the short to mid-term due to the lack of momentum from both buyers and sellers. BNB is currently trading at $598. Stay tuned for more updates and detailed analysis! 🟢 #analysis #coins CRIX Financial | News, Insights, Analysis