Mooners and Shakers: Celsius repays Bitcoin loans; BTC, ETH and top 100 crypto pumps - Stockhead

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Synthetic

Bitcoin and Ethereum are pumping, Celsius has reportedly paid off its BTC loans, and most of the top coins are having a good day. That’s all, the bear market is officially over, go up only from here.

Sorry, got carried away – haven’t seen a crypto green day like this for a bit (though yesterday wasn’t too bad either).

centigrade bitcoin loan
Source: Coin360.com

Just a relief rally pump? Possible. With the next batch of US inflation data looming on July 13 and many experts expecting another 75bp rate hike from the Fed, there is no way the prospect of a flat-to-bearish downtrend can be ignored.

That said, at least one prominent US financial analyst saw an orange glow at the end of what has been a pretty dank, sad, overused tunnel this time of year.

Mike McGlone, senior commodities strategist at Bloomberg factored in the following…

Elaborating further in a separate tweet, the analyst also noted: “With the Bloomberg Galaxy Crypto Index nearing the same drawdown as the 2018 bottom and discounting Bitcoin to 50 and 100 week moving averages similar to the previous foundation, risk vs reward is skewed towards responsive investors. in 2H”.

Translation on both tweets… Bitcoin could rebound very well in the second half of the year. And the good news for the thesis is, we are now in the second half of the year.

Well, that’s the opinion of one expert – and it’s a hopium-filled opinion for crypto connoisseurs. there still is many bearish voices stand out roaming Twitter, trying to keep it real and calling for $10k Bitcoin as “under generation”.

Celsius pays off Bitcoin loan maker protocol

There is news circulating today that recently embattled crypto lender Celsius Network – a well-known crypto contagion tale – has now paid back its huge Bitcoin loan from the Maker protocol, one of the largest crypto DeFi platforms.

This possible release some of the pressure in today’s market… or maybe nothing to do with it at all. Either way, that’s at least good news for Maker. And Celsius too – who has now been able to recover collateral/liquidity worth around US$440 million.

Not everyone was overly enthusiastic about the news, though…

Just a reminder, in case you forgot, Celsius suspended all customer withdrawals and transactions on June 12th to avoid a death spiral situation of running out of deposits.

top 10 overview

With the overall crypto market cap up 3.5% since yesterday, this is the current state of the game among the top 10 tokens – according to CoinGecko.

centigrade bitcoin loan

Ethereum (ETH) is the biggest daily winner in today’s majors. With the successful launch of the “Sepolia” testnet, the leading smart contract blockchain moved one step closer to yesterday’s “Join” event – ​​a move to shift the consensus model from proof of work, to proof of stake.

People looked excited. This guy even wrote a nearly 9 minute song about it. That said, he wrote a song a day…

In the meantime, for good measure, here are some Twitter-based analytical voices on the market, Bitcoin in particular.

One for the short term bulls…

…and one plays for the Bears…

Top and bottom: 11–100

Sweeping a market cap range of around US$8 billion to around US$400 million in the remaining top 100, let’s discover some of the biggest 24-hour gains and losers at press time. (Stats are accurate at the time of issue, based on CoinGecko.com data.)

PUMP DAILY

• Aave (AAVE), (market cap: US$969 million) +14%

• Internet Computer (ICP), (mc: US$1.49 billion) +11%

• THORChain (RUNE), (mc: US$712 million) +9%

• Convex Finance (CVX), (mc: US$401 million) +9%

• Avalanche (AVAX), (mc: US$5.6 billion) +8%

SOFT EVERY DAY

At the time of writing, it is the only five coins in the top 100 to let its side drop and slip into the red. Not much, though…

• Tense (10SET), (market cap: US$769 million) -3%

• Gold Tether (XAUT), (mc: US$436 million) -1%

• eCash (XEC), (mc: US$812 million) -1%

• weave (AR), (mc: US$584 million) -1%

• evmos (EVMOS), (mc: US$555 million) -1%

Around the block

In closing, the choice of randomness that sticks with us in our daily journey through the Crypto/financial Twitterverse.

El Salvador president’s recent tweet on gold bug and Bitcoin hater Peter Schiff is pretty much to the point…

You may be interested


#Mooners #Shakers #Celsius #repays #Bitcoin #loans #BTC #ETH #top #crypto #pumps #Stockhead

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