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What happened in Crypto in the last 12h:

NEW

Massive Withdrawal from Cryptocurrency Market

In the last hour, $370 million was pulled out of the cryptocurrency market.

Nikkei's Historic Decline

The Nikkei saw its largest two-day decline ever, topping even Black Monday.

Jump Trading Unstaking $500 Million worth of $ETH

In the last two weeks, Jump Trading has probably been unstaking $500 million worth of $ETH. They may be getting out of the cryptocurrency market making industry, according to rumors.

Potential Attack on Israel by Iran

Axios reports that the US informed the G-7 that Iran could launch an attack on Israel within the next day.

Berkshire Hathaway's Massive Share Dump

The amount of shares dumped by Berkshire Hathaway this quarter is unprecedented. The market's viewing this as a massive economic red signal.

Trump Momentum Shifts to Kamala

Trump momentum has shifted to Kamala momentum. According to Polymarket, Trump has 52% of the vote while Kamala has 45%; the difference is narrowing.

Yen Carry Trades Unwinding

The unwinding of Yen carry trades is generating a drop in global liquidity, influencing asset prices across markets, including US Treasuries and crypto.

$AVAIL Listed on Bithumb Amidst Price Manipulation Concerns

While $AVAIL is listed on Bithumb, Korean financial officials are looking for signs of probable price manipulation. This can mean fewer listings on Korean markets for a period.

OLD

What has transpired in the cryptocurrency space over the past twelve hours? 🚨

🚨What happened in Crypto in the last 12h?🚨

🚨 Crypto News Report 🚨

Key Highlights in the Last 12 Hours

1. Bitcoin Technical Analysis

Nearest Support Levels: According to technical analysis, Bitcoin's nearest support level is around $52,000. A stronger support level is noted at $44,000.

2. Mt. Gox Bitcoin Transfer

47,000 BTC Transferred: Mt. Gox, the infamous cryptocurrency exchange that collapsed in 2014, has transferred 47,000 BTC to another address. This movement has raised concerns in the market about potential sell-offs.

3. German Government BTC Sale

50,000 BTC for Sale: The German government has announced the sale of 50,000 BTC, with 10,000 BTC already sold. This significant sell-off has added to the downward pressure on Bitcoin prices.

Market Reactions and Insights

1. Bitcoin Price Discount on Coinbase

Mt. Gox News Impact: Following the Mt. Gox news and the subsequent sell-off, Bitcoin traded at a discount on Coinbase. Recovery in Sight: This discount is now recovering, suggesting that US investors are no longer selling heavily. The price gap between Coinbase and Binance is closing, indicating a positive market sentiment.

2. Spot Premium Decline

50% Decline in BTC Spot Premium: The Bitcoin spot premium has declined by about 50%, highlighting that a spot sell-off is driving prices lower. 3. Open Interest and Liquidations

Increased Open Interest: Despite repeated long liquidations during the recent price drop, open interest (OI) in Bitcoin futures has increased. This points to a resilient market with continued interest in Bitcoin trading.

Imminent Short Squeeze: The increase in OI, coupled with the market conditions, suggests that a short squeeze might be imminent.

Conclusion

No Need to Capitulate: Market analysts advise against capitulating spot holdings at this time, given the underlying support levels and the potential for a short squeeze. The current market dynamics, including the recovery of the Coinbase discount and increasing OI, are seen as positive signs for Bitcoin. Stay tuned for more updates as the situation develops.

- $IOTX IoTeX 2.0 90% - $AR AO Token airdrop

- The path for $SD New Tokenomics - $ARPA $6 million investment - $DUSK + BWRE funding - $ZENT + DWF Labs/Spartan - Terraform, Do Kwon reach an agreement with the SEC

- Trump is declared guilty

👇

• On June 3, Ultiverse $ULTI farming will debut on OKX Jumpstart.

• $AR - On June 13, Arweave will introduce the $AO token of its scalable network. By holding $AR, constructing, or bridging to AO, $AO tokens will be created.

• $ARPA - Laser Digital and DeFiance Capital are leading a $6 million strategic investment in ARPA Network.

• $BOSON - Boson Protocol has declared that it would open a new staking pool on June 1.

• $DUSK - Dusk Foundation and @BwreCapital have announced their cooperation. Beginning on June 3, BWRE will sell bonds totaling 3.5 million euros.

• $IOTX - Cofounder of IoTeX @Raullen alluded to an impending release, saying that 90% of V2 is finished.

• $SD - A plan for the multi-phase Tokenomics Reboot has been made public by Stader. On June 25, we have Phase 1, the Mega Burn.

• $ZENT - Spartan, LongHash, Synergis, and DWF Labs have announced strategic funding for Zentry to advance the Metagame Layer.

• $ZK - A ticker upgrade from ZK to ZKJ has been issued by Polyhedra Network.

• Do Kwon and Terraform Labs have made a provisional agreement to resolve the SEC fraud complaint. $LUNA $LUNC $USTC

• A jury found Donald Trump guilty on all 34 counts. Increased traffic causes Trump's fundraising website to crash. $TRUMP $BODEN

The 5 Most Important Crypto News

The Best Crypto Stories of the Week

1. Bitcoin option data indicates a pessimistic investor attitude.

2. FTX US begins offering zero-commission stock trading.

3.Terraform Labs Korea was dissolved by Do Kwon days before the catastrophe.

4.The White House wants retail and investor monies to be separated on exchanges.

5.How to Get Through an IRS Crypto Tax Audit

🅁🄴🄰🄳 𝒟𝒶𝒾𝓁𝓎 𝐵𝓇𝑒𝒶𝓀𝒾𝓃𝑔 𝒩𝑒𝓌𝓈

🅲🅲🅵🅾 🅻🅸🆅🅴🅽🅴🆆🆂

•JUST IN:🔹 The path for $SD New Tokenomics - $ARPA $6 million investment - $DUSK + BWRE funding - $ZENT + DWF Labs/Spartan - Terraform, Do Kwon reach an agreement with the SEC. . 🔹 If Binance goes bankrupt “budget would be refunded to users first, before any shareholders"🔹This will increase the reputation of Binance: WHO chieft • ‘Crypto markets post major drop’: The crypto market cap fell by more than 16% in 24 hours midweek, one its steepest falls in recent months, CoinDesk reported. • Gaming and metaverse tokens surged’Tokens for the metaverse and gaming-related projects like GALA, MANA, and GMT saw gains of up to 39% last Friday as the fallout from the UST implosion settled, Decrypt reported. • Jesse Smith’s restless creative spirit led him to experiment with a variety of artistic media