Analysis

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.

Source: Coincu.com

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.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Foxy

Coincu News

Victor

Recent Posts

Bitcoin Mining Machines for 2025 Ranked With Antminer S21 Pro At The Top

The Antminer S21 Pro tops the Hashrate Index's list of the most competitive Bitcoin mining…

24 minutes ago

Bitcoin Price Prediction for 2025 Between $80K and $150K

Bitcoin price predictions for 2025 vary widely, with experts suggesting targets between $80,000 and $250,000,…

47 minutes ago

ZT Mining Makes Crypto Mining Risk-Free with Capital Back Guarantee

Crypto mining can feel like a double-edged sword. The allure of daily profits is tempting,…

2 hours ago

Crypto Hacks 2024 Report Shows $2.2 Billion Stolen Globally

Crypto hacks in 2024 stole nearly $2.2 billion, up 22% YOY, targeting centralized exchanges and…

2 hours ago

Qubetics’ QubeQode IDE, Filecoin’s Storage Network, and Celestia’s Developer-First Approach: Best Altcoins to Invest in This Weekend

Explore why Qubetics, Filecoin, and Celestia are the best altcoins to invest in this weekend.…

3 hours ago

FLOKI DAO Unanimously Votes to Provide Liquidity for Floki ETP Launch

Miami, Florida, 1st January 2025, Chainwire

3 hours ago

This website uses cookies.