Bitcoin․com Exchange Market Insights Report for June 2022

This is the June 2022 monthly market insights report by Bitcoin.com Exchange. In this and subsequent reports, expect to find a summary of crypto market performance, a macro recap, market structure analysis, and more. Crypto Market Performance Crypto markets continued on a downtrend as BTC and ETH were down 30% and 44% respectively over the.

Timeline of Bitcoin

There's been a narrative in the crypto press this week that despite the crashing price of bitcoin and signs that large and institutional investors are bailing out, there are still new small investors coming into the market or increasing their investments, as the number of digital wallets with a 0.1 to one bitcoin balance jumped

Bitcoin (BTC/USD) extended its recent pullback early in the Asian session as the pair continued to weaken after peaking around the 21711 area, representing a test of the 76.4% retracement of the depreciating range from 22974.10 to 17567.45.   Stops were recently elected below the 17787.51 level during the ongoing selling pressure, a very important technical area that represents the 50% retracement of the appreciating historical range from 3858 to 31717.02.

The South American country has elected a pro-Bitcoin president, who has strongly favored the digital currency in his speeches.  Pro-BTC President Coming To Power President-elect Gustavo Petro, who will come into power on August 7, 2022, has always spoken very highly of Bitcoin and cryptocurrencies in general, indicating that he truly believes in the power of these digital assets.

Technical analyst Katie Stockton, founder of Fairlead Strategies, has predicted Bitcoin ($BTC) could soon see a relief rally that would be muted over the ongoing downtrend in the market. The analyst pointed to key support levels to watch. Stockton, while speaking with Bloomberg, noted that Bitcoin and most altcoins “have been trending lower for some

Bitcoin's crash in the second week of June appeared to have been equivalent if not more intense than its crash in May. The May crash was triggered by LUNA and UST's death spiral, but the market did not have such a major black swan in June.

Crypto miner Bit Digital announced that in the first quarter of 2021 it brought in $8 million in bitcoin mining revenue. The post Miner Bit Digital made $8 million in bitcoin mining revenue in Q1 2022 appeared first on The Block.

According to the company's announcement, the credit facility will be used to safeguard customer assets in light of current market volatility and only “if needed.” The market volatility threatening Voyager originated from Three Arrows Capital, an investment fund that took out a $350 million USDC and 15,250 BTC loan from the company and has so The post Voyager secures $200M, 15K BTC loan from Alameda Research to safeguard against 3AC default appeared first on CryptoSlate.

Citibank, a major global banking institution, revealed on Wednesday that it has hired Switzerland-headquartered crypto custody firm Metaco to establish a digital asset custody platform. The collaboration will focus on tokenized securities, which are representations of stocks and bonds that are transferred and settled using blockchain technology, according to an email from a Citibank official.

Bitcoin (CRYPTO: BTC) experienced a severe flash crash this past month, causing it to drop over 70% below its all-time high. Following Terra's (CRYPTO: LUNA) black-swan event, CPI data on inflation, and the US Federal Reserve hiking interest rates, turbulent market conditions have continued.

MicroStrategy CEO Michael Saylor has thrown altcoins under the bus by calling on regulators to do their part in tackling risky crypto industry practices. The post Saylor goes full maxi, slamming everything that isn't Bitcoin appeared first on CryptoSlate.