#BTC 24 Hour High $9,450.34 $BTC 24 Hour Low $9,249.50 $BTC +1.6%
Total Crypto Market Cap $276.1 BN (+1.43%) 24 Hour Volume $76.5 BN (-2.18%) Notable Movers Holo (HOT) (+31.84%) BTC Dominance 62.7% (-0.16%)
Bitcoin Community Cries Foul as Major Bank Implicated in Epstein Scandal
The Bitcoin community was quick to point out a $150 million penalty paid by Deutsche Bank for serving Jeffrey Epstein. Deutsche Bank was recently ordered to pay a $150 million fine for "significant compliance failures" in its relationship with alleged child sex trafficker, Jeffrey Epstein. The Bitcoin community on Reddit is highlighting this latest case of misconduct from major financial institutions. According to CNBC reporting on Tuesday, New York state financial regulators issued a $150 million penalty to the bank for offering banking services to Epstein despite being aware of his previous indictments. Traditional markets continue to pick up from where they left off, with US benchmarks closing up ~0.90% led by the tech sector as investors traded off FOMO - disregarding SINO-US tensions and COVID second/third wave scares in various parts of the world. Digital assets market $BTC pushes up to $9,400 off low traded volumes with most of the volume still on DeFi related alts. $BTC dominance decreased again; at the start of 2020, started at 68% highs to 62.8, down 0.6% overnight. Currently trading at slightly above 30D SMA ($9,315 30day SMA vs $9,390 currently) and on upper Bollinger bands. $BTC futures continued to see low volumes, aggregated ~9M across exchanges. This week volumes are down about 25% from last week. 23M short contracts liquidated, with the bull/bear indicator showing 70:30 today. $LINK continued to break through new highs for the third consecutive day, pushing its ATH to $6.5 from $5.65 yesterday, trading at over-bought levels on RSI indicators and on the upper range of Bollinger bands. LINKBTC moved 30% over the past three days from 52,520 sat to 67,800 $ADA also pushed up another 10% from yesterday’s $0.1158 (to $0.126) overnight. Month-to-date is now up 53% from 0.08 levels that it was range bound for the entirety of June. Performing at +42% above its 30D SMA and surpassing the upper Bollinger band with RSI indicators showing extreme overbought levels, expecting a sizable market correction within the week. DeFi coins $LEND seeing less significant price action, trading within a tight range bound of 5% between 0.18-0.19 $SNX up 15% over night from $2.81 from $2.47 $COMP slumping 4 consecutive days, from 202 -> 183, trading at the bottom Bollinger bands and slightly over-sold levels with RSI at 44.
Traditional asset markets Gold trading above $1,800 with three consecutive strong trading sessions from $1,770 levels. VIX dropped from 36 to 28 over the past seven days. Historical trends have shown VIX flattening out to average levels (Note: VIX at 13-15 pre-COVID breakout) before markets begin to reflect the real damage. Prominent US economist Gary Shilling compared current bullish conditions with the 1929 market crash, he’s expecting markets to drop to as much as 40% over the next year. NASDAQ up 1.44% to 10,492 DOW up 0.68% to 26,067 S&P up 0.78% to 3,169