GameStop

Bitcoin

Shiba Inu

The biggest digital asset, Bitcoin (BTC) attempts to challenge all-time highs. However, it took a sharp dump on Friday leaving it clinging to the high selling pressure. BTC price dropped by over 2% in the last 24 hours erasing its weekly gains to a minimal. Will Bitcoin drop more? 
Bitcoin dipped to the $69,000 level after hitting the $71,000 mark. The biggest digital asset price is still up by 64% on the year to date (YTD) period. BTC is trading at an average price of $69,469, at the press time. Its 24 hour trading volume is up by 25% to stand at $33.12 billion. It is holding a market cap of $1.36 trillion.
Other <a href="https://news.todayq.com/ether-will-hit-the-22000-level-by-2030-says-vaneck/" rel="noopener noreferrer nofollow">major cryptos</a> like Ether (ETH) and Solana recorded a slump of over 4% in the last 24 hours. However, dogwifhat (WIF) saw a decline of almost 16% dragging the meme cryptos to print red indexes.
Data from Coinglass shows that the selloff has resulted in $450 million in liquidations. This is the highest amount since a mid-April downturn.
Bitcoin’s decline began after challenging $72,000 on Friday. It started after the release of the US employment report for May. It showed a stronger than expected addition of 272,000 jobs. This triggered hopes for an imminent interest rate cut by the Federal Reserve. This could lead to a rise in both interest rates and the dollar. GameStop saga 
It is important to note that the market slumped later in the day during a highly anticipated YouTube livestream by Roaring Kitty.&nbsp; Following this, GameStop (GME) shares dropped further and ended down 40% for the session.&nbsp;
The GME meme coin also plummeted by 50% from its highs earlier in the day. Other meme coins like Dogecoin (DOGE) fell 8%, Shiba Inu (SHIB) dropped 10%, and Pepecoin (PEPE) declined 15%.
The meme crypto market cap is down by 2% over the last day to stand at $63.9 billion. Its 24 hour trading volume is still up by 6.5% to stand at $7.25 billion. This suggests that the investors are moving the assets under high selling pressure to settle off the losses.
The gaming coin, GALA dropped by 15% in the last 24 hours. Now, it is down by 42% over the last 60 days. GALA is trading at an average price of $0.039, at the press time.

Bitcoin, DOGE, PEPE follow GME Coin’s 50% plunge

Todayq News

Other articles published on Jun 8, 2024

Seven out of 10 failed Korean crypto exchanges can’t repay investors: study

Double Bullish Bitcoin Godzilla Candles Case Suggested by Samson Mow

MAGA Price Pumps 18% As Donald Trump Calls Himself ”Crypto President,” But Analysts Say This AI M...

Shiba Inu Market Cap at $14.81B: Will SHIB Break Past $0.0000256?

Best Presale In 2024: Investors Ditch Avalanche And Arbitrum For Moonbag’s 88% Apy Staking

Spot Bitcoin ETFs Net Inflow is Hitting High; Who is the Catalyst?

Join our free newsletter for daily crypto updates!