Crypto Insider

🧠 Render (RNDR) Futures Open Interest Nears Monthly Low for June 📉 Render (RNDR), a leading AI-based token, experienced a significant downturn in June. The token’s price dropped 26%, trading at $7.62, while its futures open interest plummeted 35% to $132 million. ℹ️ Daily active addresses and new demand for RNDR also decreased. However, the Aroon Indicator suggests the downtrend may be weakening, potentially signaling a rebound. If the recovery materializes, RNDR could reach $7.91, but continued weakness might push it down to $6.67. 💬 Source 📌Powered by V3V Ventures

💸 Bitcoin Miners’ Capitulation Looms, Worst Trend in Two Years 🔥 Bitcoin’s mining industry is experiencing a significant downturn, with the hashrate dropping to two-year lows and miners facing profitability issues. This trend raises concerns about network security and potential centralization as smaller miners struggle to stay afloat. 💫 While some expect a rebound, continued challenges could impact Bitcoin’s price and overall ecosystem. 💬 Source 📌Powered by V3V Ventures

📉 Bitcoin Falls After US Sends $240M Worth of Silk Road-Related BTC to Coinbase 🔗 The U.S. government has transferred approximately 3,940 BTC (worth about $240 million) from seized Silk Road assets to a Coinbase Prime address. This move, involving Bitcoin confiscated from narcotics trafficker Banmeet Singh in January 2024, has sparked market concerns about potential selling pressure.

Bitcoin's price dipped toward $60,000 following the transfer, currently trading around $61,100, down 1% in 24 hours. The broader crypto market, including Ether, also saw slight declines.

⌛️ This action follows a similar government move in April 2022, which also impacted the market. Investors are watching closely, as previous government sales of seized crypto assets have influenced market dynamics. 💬 Source 📌Powered by V3V Ventures

🔥 Breaking: Solana ETF Proposal Filed by VanEck 📣 Investment firm VanEck has submitted a proposal for a spot Solana ETF, marking a potential expansion of crypto ETF offerings beyond Bitcoin and Ether. This move follows the SEC’s approval of Bitcoin ETFs and the anticipated green light for Ether ETFs. ℹ️ Industry experts, including Ripple CEO Brad Garlinghouse, have predicted the eventual approval of multiple altcoin ETFs. The news has sparked a positive market reaction, with Solana’s price rising 8% in 24 hours. This development signals growing institutional interest in diverse cryptocurrency investments through regulated products. 💬 Source 📌Powered by V3V Ventures

🕯 Renewed Bullishness Expected After Bitcoin, Ether’s $10B Options Expiry on Friday 🗓 A significant options expiry worth $10 billion for Bitcoin and Ether is set for Friday, potentially impacting market volatility. Over 25% of these options are expected to expire “in the money,” indicating potential profitability for holders. 🔼 Despite recent price drops, call-put skews suggest investors remain optimistic about both cryptocurrencies’ future. Traders anticipate a positive shift for Bitcoin by July 12 and Ether by July 5, with the launch of Ether ETFs possibly influencing market sentiment. ⌛️ This expiry could mark a turning point, potentially leading to renewed bullish momentum in the crypto market. 💬 Source 📌Powered by V3V Ventures

💸 Ether Spot ETFs to Attract $15B of Net Inflows in First 18 Months: Bitwise 🔗 Bitwise CIO Matt Hougan predicts that upcoming U.S. Ether spot ETFs could attract $15 billion in net inflows during their initial 18 months. This estimate is based on the relative market caps of Bitcoin and Ether, with investors likely to allocate funds proportionally. 📊 While BTC’s first-mover advantage may slightly reduce Ether ETF inflows, the projected figure still suggests significant investor interest. The Grayscale Ethereum Trust’s potential conversion to an ETF could accelerate this trend. ℹ️ Overall, the report indicates strong potential for Ether ETFs in the U.S. market. 💬 Source 📌Powered by V3V Ventures

⚠️ Jump’s Kariya, Who Went From Intern to Crypto Leader, Is Leaving Trading Giant 🔽 Kanav Kariya, who rose from intern to head of cryptocurrencies at Jump Trading, has announced his departure from the company. His tenure saw significant events, including the Wormhole hack and the Terra collapse. 🔍 The exit comes amid a reported CFTC investigation into Jump’s crypto dealings. Despite challenges, Kariya’s leadership marked a notable period in Jump’s crypto operations. 🗓 At just 28, he plans to remain engaged with portfolio companies while reflecting on his eventful time at Jump. 💬 Source 📌Powered by V3V Ventures

💸 Mt. Gox Redemption Fears ‘Overblown,’ Say Traders As $10B BTC Holdings Draw Concerns ⚡️ As Mt. Gox prepares to distribute stolen Bitcoin from the 2014 hack, traders suggest the market impact might be less dramatic than initially thought. Analysts point out that many creditors may hold onto their Bitcoin due to its low cost basis, while others have already sold their claims. 🕯 Galaxy Research estimates that a significant portion of the distributed Bitcoin may not be immediately sold. While the news initially caused a price dip, the long-term effect on Bitcoin’s market could be more muted than anticipated. 💬 Source 📌Powered by V3V Ventures

🔴 Bitcoin’s Double Top Suggests BTC Could Fall to $50K: Analyst 🕯 Recent price action has formed a bearish double top pattern in Bitcoin’s chart, suggesting a possible trend reversal. Analyst Markus Thielen warns of a potential drop to $50,000 or even $45,000. ℹ️ However, upcoming events like the U.S. election and CPI data could provide bullish momentum later this year. The PCE price index release on Friday may offer relief if it shows slowing inflation, potentially supporting Fed rate cuts. 💬 Source 📌Powered by V3V Ventures

💸🔽 Mt. Gox to Begin Repayments in July; BTC Slides Under $61K 🔗 After years of delays, Mt. Gox, the defunct Bitcoin exchange, has announced it will begin repaying victims of its 2014 hack in July 2024. Over 140,000 BTC and Bitcoin Cash (BCH) will be distributed, potentially adding selling pressure to the crypto market. 📉 The news caused a slight dip in Bitcoin’s price. While this marks progress for affected users, it also raises concerns about short-term market volatility. Investors should monitor the situation closely as it unfolds. 💬 Source 📌Powered by V3V Ventures