BTC Crashes Below $26000, Crypto Daily TV 6/6/2023

BTC Crashes Below $26000, Crypto Daily TV 6/6/2023

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In Todays Headline TV CryptoDaily News:

Ethereum reserves at multi-year lows

Ethereum token reserves on exchange wallets have declined to their lowest level since 2018. As of June 5, ETH reserves sit at 17.2 million Ether, a multi-year low. 

Atomic Wallet users hacked for $35M

The crypto industry’s latest causality occurred over the weekend as nearly $35 million worth of various tokens were stolen from Atomic Wallet, a centralized storage and wallet service. These tokens included bitcoin, ether, tether, dogecoin, litecoin, bnb coin and polygon.

Bitcoin dropped below $26,000

Cryptocurrency prices dropped after the U.S. Securities and Exchange Commission charged Binance, the largest crypto exchange in the world, with violating securities laws. Bitcoin fell more than 6% to its lowest level since March.

BTC/USD dove 5.5% in the last session.

The Bitcoin-Dollar pair plummeted 5.5% in the last session. The RSI's negative signal is in line with the overall technical analysis. Support is at 26695.3333 and Resistance is at 27661.3333.

The RSI is currently in negative territory.

ETH/USD plummeted 4.4% in the last session.

The Ethereum-Dollar pair dove 4.4% in the last session. According to the Stochastic-RSI, we are in an oversold market. Support is at 1866.6167 and Resistance is at 1925.8567.

The Stochastic-RSI points to an oversold market.

XRP/USD dove 6.1% in the last session.

The Ripple-Dollar pair dropped 6.1% in the last session after rising as much as 1.3% during the session. The MACD is giving a positive signal. Support is at 0.5017 and Resistance is at 0.5629.

The MACD is currently in positive territory.

LTC/USD plummeted 7.1% in the last session.

The Litecoin-Dollar pair dove 7.1% in the last session. The Williams indicator is giving a negative signal. Support is at 92.571 and Resistance is at 97.311.

The Williams indicator is giving a negative signal.

Daily Economic Calendar:

US API Weekly Crude Oil Stock

The API’s Weekly Statistical Bulletin reports overall U.S. and regional data relating to refinery operations and the production of the four major petroleum products. The US API Weekly Crude Oil Stock will be released at 20:30 GMT, the UK's 30-y Bond Auction at 09:30 GMT, Australia's RBA Interest Rate Decision at 04:30 GMT.

UK 30-y Bond Auction

The auction sets the average yield on the bonds auctioned off. Yields are set by bond market investors, and therefore they can be used to estimate investors' outlook on future interest rates.

AU RBA Interest Rate Decision

The RBA Interest Rate Decision is announced by the Reserve Bank of Australia. The interest rates are a key mechanism through which the central bank influences inflation.

AU RBA Rate Statement

Decisions regarding the interest rates are made by the Reserve Bank Board and are explained in a media release that announces the decision after each meeting. Australia's RBA Rate Statement will be released at 04:30 GMT, Japan's JP Foreign Reserves at 23:50 GMT, the US Redbook Index at 12:55 GMT.

JP JP Foreign Reserves

The Foreign Reserves are the total of a country's gold holdings and convertible foreign currencies held by its central bank.

US Redbook Index

The Johnson Redbook Index measures the year-over-year same-store sales growth from a sample of large general merchandise retailers.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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