June 11, 2024 4:18 PM | 2 min read
Cryptocurrency markets have sold off prior to the CPI data release on Wednesday, with major meme coins being hit particularly hard.
Prices as of 3.30 p.m. ET:
| Cryptocurrency | Price | Gains +/- |
| Bitcoin (CRYPTO: BTC) | $67,357.84 | -3% |
| Ethereum (CRYPTO: ETH) | $3,494.13 | -4.7% |
| Solana (CRYPTO: SOL) | $149.26 | -6.9% |
| Dogecoin (CRYPTO: DOGE) | $0.1379 | -4.5% |
| Shiba Inu (CRYPTO: SHIB) | $0.00002173 | -5.4% |
Notable Statistics:
- Coinglass data shows 104,055 traders liquidated in the past 24 hours, with total liquidations at $270.1 million. Bitcoin’s open interest at $36 billion has continued to remain high since April 12.
- IntoTheBlock data reports a 66.6% surge in large transaction volume, alongside a 9.6% increase in daily active addresses. Transactions greater than $100,000 increased from 5,027 transactions on June 9 to 7,782 transactions on June 10. Total exchange inflows and outflows also increased.
- Crypto analyst Ali Martinez noted that historically Bitcoin has struggled in Q3, with an average return of 6.49% and a median return of -2.57%.
Notable Developments:
Top Losers:
| Cryptocurrency | Price | Gains +/– |
| Notcoin (CRYPTO: NOT) | $0.0159 | -12.3% |
| Uniswap (CRYPTO: UNI) | $9.03 | -12.2% |
| Arweave (CRYPTO: AR) | $33.32 | -10% |
FOMC tomorrow and $BTC forms a bullish inverse head & shoulders pattern here.
The past FOMC meetings have already marked the low of the left shoulder + head. Right shoulder next?
Probably just a coincidence.👀
So far, this meetings have mostly been bullish for BTC. pic.twitter.com/EbtYIkgswZ
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