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Bitcoin Plunges Below $30,000, Wiping Off Over $176 Million in Liquidations

June 30 (Cointime) - Bitcoin briefly reached $31,000 before dropping below $30,000 in a sudden sell-off, resulting in losses for traders holding positions in the market. Coinglass data shows that over $176 million was wiped out from those holding positions in various digital assets in the past 24 hours.

Bitcoin Dominance in Cryptocurrency Market Reaches Two-Year High

June 30 (Cointime) - Bitcoin's dominance in the cryptocurrency market has reached a two-year high of 58%. This ratio measures Bitcoin's market cap compared to the total market cap of the cryptocurrency sector, which currently stands at $1.18 trillion. Bitcoin's dominance dropped to the mid-50s in 2020 due to scandals and a transition from loose to tight monetary policies.

MicroStrategy's Bitcoin Purchases Spark Debate on Centralization

June 30 (Cointime) - The acquisition of Bitcoin by MicroStrategy has caused discussions about the possibility of centralization of the cryptocurrency. The company, led by Michael Saylor, has replaced its cash reserves with Bitcoin and now holds an impressive 152,333 BTC. This concentration of Bitcoin holdings has raised concerns about the decentralized nature of the currency.

Bitcoin Transaction Fees Surge 316% in Q2 2023, Driven by Ordinals-Related Activity

June 30 (Cointime) - Bitcoin transaction fees have experienced a significant increase of 316% in the second quarter of 2023, reaching a total of $186 million, according to on-chain analytics firm IntoTheBlock.

Bitcoin Holds Above $30,000 as Fidelity Submits Spot ETF Application and Binance Faces Euro Banking Partner Troubles

June 30 (Cointime) - Bitcoin experienced a 2.36% increase from June 23 to June 30, reaching US$30,802 at 7:30 p.m. Friday in Hong Kong, while Ether rose by 0.55% to US$1,890 over the week. Fidelity submitted its spot Bitcoin ETF application, indicating a growing interest in cryptocurrencies among institutional investors. Binance faced issues in Europe and had to change its euro banking partner after Paysafe Payment Solutions stopped offering euro payment support for the exchange.

Coinbase Faces Risks Despite Surge in Shares Following BlackRock’s Bitcoin ETF Application: Berenberg

June 30 (Cointime) - Shares of Coinbase (COIN) have risen by over 30% since June 15, following news that Blackrock (BLK) applied for a spot bitcoin (BTC) exchange-traded-fund (ETF), outpacing the 20% increase in bitcoin's price over the same period.

Financial Markets Experience Significant Events in First Half of 2023

June 30 (Cointime) - Financial markets have experienced a surge in the first half of 2023, with world stocks increasing by $6 trillion or 12%, partly due to a tech stock boom inspired by AI. The rise in interest rates has been a significant factor, but there is a sense that the cycle is coming to an end.

Bitcoin and Ether Trade Within Recent Ranges Despite Quarterly Options Expiry and Strengthening Dollar Index

June 30 (Cointime) - Bitcoin and ether remained stable in their recent price ranges despite the expiration of quarterly options and a strengthening dollar index. The expiration of around 150,000 BTC options contracts and 1.2 million ether contracts on Deribit, the world's leading crypto options exchange, was a pivotal moment for market makers in BTC options who were "long gamma."

Bitcoin and Top Cryptocurrencies Gain on Positive Market Sentiment and Interest in Spot Bitcoin ETFs

June 30 (Cointime) - Bitcoin, Ether, and other top 10 non-stablecoin cryptocurrencies experienced gains in Friday afternoon trading in Asia due to positive market sentiment. This was fueled by traditional financial institutions filing spot Bitcoin exchange-traded fund (ETF) applications, indicating confidence in the profit potential of digital assets.

Addresses Holding Less Than 1 BTC Surge Exponentially During Bitcoin Rally

June 30 (Cointime) - The number of addresses holding less than 1 BTC, known as "Shrimps", has increased threefold since the recent Bitcoin rally began. This surge was mainly driven by old addresses, indicating that long-term holders were accumulating more Bitcoin in anticipation of further price growth.