Bitcoin, Ethereum, Dogecoin End Week With Strong Sell-Off As Traders React To Roaring Kitty Stream
Portfolio Pulse from Khyathi Dalal
Cryptocurrency markets experienced a significant sell-off following the Roaring Kitty live stream, with notable declines in Bitcoin, Ethereum, and Dogecoin. Coinglass data reported $337.08 million in crypto liquidations within four hours, primarily from long positions. Bitcoin holders in profit dropped from 98% to 87%, and exchange netflows surged by 209%. Despite the downturn, Bitcoin ETFs saw inflows of $217.78 million on June 5, pushing total inflows past $15 billion since January.
June 07, 2024 | 8:04 pm
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NEGATIVE IMPACT
Bitcoin experienced a 1.9% decline following the Roaring Kitty live stream, with significant liquidations and a drop in holders in profit.
The Roaring Kitty live stream triggered a sell-off, leading to significant liquidations and a drop in the percentage of Bitcoin holders in profit. This negative sentiment is likely to impact Bitcoin's short-term price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Dogecoin experienced a significant 7.1% decline following the Roaring Kitty live stream, reflecting broader market sell-off trends.
Dogecoin's significant decline is part of the broader market sell-off triggered by the Roaring Kitty live stream, indicating negative sentiment and potential short-term price pressure.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ethereum saw a 2.7% decline as part of the broader cryptocurrency market sell-off triggered by the Roaring Kitty live stream.
Ethereum's price decline is part of the broader market reaction to the Roaring Kitty live stream, which caused significant liquidations and negative sentiment.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100