🌟 Photo Sharing Tips: How to Stand Out and Win?
1.Highlight Gate Elements: Include Gate logo, app screens, merchandise or event collab products.
2.Keep it Clear: Use bright, focused photos with simple backgrounds. Show Gate moments in daily life, travel, sports, etc.
3.Add Creative Flair: Creative shots, vlogs, hand-drawn art, or DIY works will stand out! Try a special [You and Gate] pose.
4.Share Your Story: Sincere captions about your memories, growth, or wishes with Gate add an extra touch and impress the judges.
5.Share on Multiple Platforms: Posting on Twitter (X) boosts your exposure an
Bitcoin fell below $67,000, with over $250 million in leveraged derivation liquidations across the network.
The crypto market is experiencing increased volatility, with Bitcoin and other Crypto Assets generally falling.
June 12 is referred to as "Super Wednesday" by the financial markets, as the latest CPI data and the Federal Reserve's interest rate decision will be announced on this day. This data may become the indicator for the next wave of movements in the crypto market.
Due to the increasing uncertainty of future market trends, the crypto assets market has experienced significant fluctuations before "Super Wednesday." Although Bitcoin opened at nearly $70,000 yesterday, it failed to hold this resistance level and fell to the $66,000 range, even briefly touching $66,170 on Tuesday evening, which is the lowest point in nearly three weeks.
Data shows that although Bitcoin has rebounded to around 67,000 USD, the 24-hour fall is still 1.1%. Other Crypto Assets have seen even larger pullbacks, with a certain Crypto Assets index falling more than 6%. The 20 Crypto Assets included in this index have all experienced a price drop, with Ethereum falling below 3,500 USD (a fall of 6.5%), and the fall of other major Crypto Assets is approximately between 6-9%.
This market correction has led to over $250 million in leveraged derivative trading positions being liquidated across the entire network of crypto assets, primarily long positions. This is the second large-scale leveraged surge after $400 million was liquidated last Friday within a week. Currently, the total liquidation amount in the crypto market has slightly narrowed to $219 million.
Although the market has experienced a pullback, some fundamental indicators are still performing well. The user base of Ethereum continues to grow, with the number of active addresses and new addresses reaching relatively high historical levels. The holdings of stablecoins on exchanges have significantly decreased, which may indicate a recovery in market confidence. In addition, the Personal Consumption Expenditures ( PCE ) index released on May 31 was 2.8%, and it is expected that this data has already been digested by the market.
Some institutional investors are still optimistic about the upward trend of the crypto market in the future. A certain crypto investment institution believes that, despite the short-term market pressure leaning towards risk aversion, it is still a good opportunity to accumulate Crypto Assets. Positive events include the launch of the spot Ethereum ETF and politicians engaging in verbal battles to win over crypto voters.
Another research institution pointed out that Bitcoin may experience frequent fluctuations recently, as the crypto market is "highly sensitive" to recent economic data and "highly correlated" with U.S. stocks. The bullish offshore traders in the past two weeks currently have Bitcoin positions in a losing state, putting the market at risk of potential long squeeze.
The market seems to be in the preparation stage for the next bull market. The key points of focus for the future market include the timing of the Federal Reserve's interest rate cuts, the market response after the approval of the Ethereum ETF, the shift in sentiment regarding Bitcoin ETF fund inflows, and the expectation gap between macroeconomic trends and actual market reactions.
Overall, the recent pullback in the crypto assets market this week has not affected the overall trend towards improvement. Some analysts have pointed out that Bitcoin has experienced pullbacks before several important meetings this year, but shortly after, it quickly reversed its trend. Therefore, some market observers believe that this drop may be an opportunity to buy on the dip.