Market On June 7: Investors Do Not Know When The Uptrend Will Return
The market is still in the red, Binance is constantly suffering from FUD, market capitalization is down compared to yesterday, greed and fear index increased to 15.
The market is covered in a red color
The current market cap is $1,260 billion, down $70 billion from yesterday’s same period. Volume 24h increased to 80 billion dollars.
The price of BTC continuously fluctuates between $29k – $31k.
This morning BTC had a price crash partly related to Binance’s FUD information constantly being released.
On June 6, Reuters alleges that between 2017 and 2021, Binance processed more than $2.35 billion in dirty money transactions related to cyberattacks, fraud, and illicit drug sales through the “black market” like Hydra.
However, Binance responded that the above information was utterly incorrect soon. Binance also posted more than 50 pages of email conversations between Chief Communications Officer Patrick Hillmann and Reuters reporters for the community to make their assessment.
Following the above allegation, on June 7, Bloomberg revealed that Binance was being investigated by the US Securities and Exchange Commission (SEC) about whether the exchange’s 2017 BNB token sale was considered an offering to sell “securities”.
Currently, Binance is the subject of some US federal investigations, including the SEC and CFTC (US Commodity Futures Trading Commission).
Facing the news that the FEAR&GREED index rose to 15 they confusion of investors.
In the past 24 hours, 82,000 traders were liquidated, and the liquidation value has reached 238 million USD, of which 66% are Long orders.
Because of the sudden fluctuations, investors should not take action on Bitcoin if it continues to have an unclear trend as it is now.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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