BENCHMARK
| Indices | LTP | Change (%) |
|---|---|---|
| BITCOIN | $25495 | 1.54% |
| ETHEREUM | $1664 | 0.85% |
CRYPTO STATS(24H)
| Indices | VALUE | Change (%) |
|---|---|---|
| MARKET CAP | $1.08 T | 1.20 % |
| TRADING VOLUME | $41.7 B | 5.57% |
TOP 5 GAINERS
| Indices | LTP | Change (%) |
|---|---|---|
| Gem Exchange and Trading | $0.0049 | 1395.26% |
| UkraineFlag NFT | $0.055 | 479.56% |
| FutureCoin | $0.19 | 379.78% |
| PioccoloInu | $0.0000000076 | 161.95% |
| TheChampCoin | $0.00051 | 61.78% |
TOP 5 LOSERS
| Indices | LTP | Change (%) |
|---|---|---|
| Hotbit | $0.00092 | 96.54% |
| ZombieInu(OLD) | $0.000000000019 | 91.52% |
| TosDis | $0.29 | 86.44% |
| DAVNetwork | $0.00033 | 84.69% |
| Creaticles | $00.25 | 67.40% |
Bitcoin experienced a surge in Friday morning trading in Asia, following a dip below the $25,000 mark overnight. Despite a losing week, Ether also saw a similar trend. The remaining top 10 non-stablecoin cryptocurrencies had a mixed performance, with little influence from the U.S. Fed's decision to maintain unchanged interest rates.
Major Events Around the World
On Thursday, the European Central Bank (ECB) made an announcement that it would be raising its three key interest rates by 25 basis points. The Governing Council's decision will result in an increase in the interest rate on the main refinancing operations, as well as the interest rates on the marginal lending facility and the deposit facility, to 4.00%, 4.25%, and 3.50%, respectively. These new rates will take effect on June 21, 2023.
In a surprising turn of events, retail sales in the United States saw an unexpected rise in May. Consumers were seen purchasing motor vehicles and a variety of other goods, which could potentially provide a much-needed boost to the economy this quarter. According to the Commerce Department, retail sales increased by 0.3% last month, following a 0.4% rise in April. This figure defied the expectations of economists polled by Reuters, who had predicted a 0.1% decline.
BlackRock, the world's largest asset manager, is reportedly taking steps towards filing for a Bitcoin Exchange Traded Fund (ETF), less than a year after launching a spot Bitcoin private trust. This move is expected to have a significant impact on the mainstream adoption of cryptocurrencies once the Bitcoin ETF is launched. However, BlackRock's initiative comes at a time when US regulators are ramping up enforcement against crypto businesses. Despite this, BlackRock's decision to pursue a Bitcoin ETF demonstrates the growing interest and acceptance of cryptocurrencies in the financial industry.
COIN GABBAR Views:Given the mentioned factors, it is important to analyse the future direction of Bitcoin, especially considering the failure of the bulls to protect the $25,200 level. Speculation has emerged suggesting a potential decline to $20,000 in the coming days. However, accurately predicting Bitcoin's price fluctuations is challenging due to its inherent volatility and the numerous factors that impact its value. Stay tuned for updates and the latest news us at www.coingabbar.com
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