<\/p>\n
Over $500 million of leveraged positions were liquidated on Monday as Bitcoin briefly plunged below $60,000.<\/p>\n
Crypto bulls caught a break on Tuesday morning after a challenging start to the week.<\/p>\n
Bitcoin<\/a> spiked 2.5% to trade above $61,000, while Ethereum<\/a> rallied 3.5%. Meanwhile, Solana jumped 8%, and Polkadot climbed 5%.<\/p>\n <\/p>\n <\/a><\/p>\n Remarkably, all of the top 100 digital assets by market capitalization are in the green today, with memecoins BRETT, WIF, PEPE and BONK leading the pack.<\/p>\n The bounce comes after traders liquidated over $500 million in cryptocurrencies on Monday. CoinGlass data reports<\/a> that Tuesday’s largest single liquidation order, valued at $2.03 million, occurred on Bybit for BTC-USDT.<\/p>\n Asset management firm VanEck has filed an 8-A form with the SEC for its spot Ether ETF as part of the approval process. Bloomberg analyst Eric Balchunas noted<\/a> that the company \u201cfiled their 8-A for spot bitcoin exactly 7 days before launch.\u201d<\/p>\n If history repeats, Ethereum ETFs could launch as soon as next week.<\/p>\n Michael van de Poppe, CEO of MN Trading, noted<\/a> Bitcoin\u2019s dominance continued to peak at 58%. \u201cMore attention will likely shift to Ethereum due to the upcoming ETF,\u201d he said.<\/p>\n Meanwhile, creditors of Mt. Gox, the once-largest Bitcoin exchange that lost 850,000 Bitcoin in a massive 2014 exploit, will start receiving Bitcoin and Bitcoin Cash repayments in early July.<\/p>\n Samson Mow, CEO of Bitcoin adoption firm Jan3, believes that the current Bitcoin dip stems from fear rather than sales of large holdings. \u201cEven when Gox coins hit the market, any potential sales will likely occur via OTC, minimizing their impact on price,\u201d Mow tweeted<\/a>.<\/p>\n U.S. stock markets rallied on Tuesday, with the S&P 500 up 0.4% as the Nasdaq soared 1.1%.<\/p>\nETH ETF Could Be Imminent<\/h2>\n
Mt. Gox Repayments<\/h2>\n