Latest Cryptocurrency Market Updates

Bitcoin’s Recent Decline

1. Price Drop: Bitcoin fell below $67,000 on a European morning.
2. Extended Drop: The decline started from $72,000 on Friday.
3. ETF Outflows: $65 million outflow from U.S.-listed bitcoin ETFs on Monday.
4. First Loss Since May 23: This was the first recorded outflow since at least May 23, based on data from Farside Investors.
5. Institutional Trades: Recent inflows were driven by institutional interest in non-directional trades, not bullish bets.
6. Current Status: BTC is over 3.5% lower than 24 hours ago.

Broader Digital Market Trends

1. Ether’s Decline: Ether dropped over 4%, now at $3,540.
2. CoinDesk 20 Index: The CD20 fell almost 3.4%.

Impact on Meme Tokens

1. GameStop Shares Drop: GameStop shares fell 12% on Monday.
2. Meme Token Effects: Tokens linked to GameStop like Solana-based GME fell 25%.
3. Related Token Declines: Tokens like Roaring Kitty and other cat-themed tokens lost around 10%.
4. Dog-Themed Tokens: Doge, Shiba Inu, and Floki fell between 4% to 10%.
5. GameStop Sales Announcement: GameStop’s share price fell 62% from a two-year high after announcing it would sell up to 75 million shares and reported a drop in quarterly sales.

Cardano’s Major Update

1. Decentralization Phase: Cardano is moving into the final phase of becoming a fully decentralized blockchain.
2. Community-Run: After the transition, the network will be managed by community members instead of IOHK.
3. Upcoming Hard Fork: Cardano is waiting for 70% of Stake Pool Operators (SPOs) to install the new node for a hard fork.
4. Voltaire Era: This update will push Cardano into the Age of Voltaire.
5. Current ADA Status: The ADA token has fallen 3.4% in the last 24 hours, aligning with the broader CD20 index trends.

Stay tuned for more updates as the cryptocurrency market continues to evolve!