Lion’s Share Group — Crypto Market Update July 4, 2024
Crypto Market Overview
Market Cap: $2.18 trillion (-3.94%)
24-Hour Volume: $85.75 billion (+59.38%)
Crypto Fear & Greed Index: 45 (Fear)
Crypto-Related Stocks
$NVDA : $128.28 +4.57% $BTC : $58,843.46 -3.25% $ETH : $3,222.03 -3.77% $COIN : $224.94 -1.13% $MSTR : $1,302.09 -1.37% $SQ : $64.44 -0.22% $RIOT : $9.57 -1.54% $GBTC : $53.66 -2.24% $BRPH : $12.13 -2.49%
Crypto-related stocks are showing mixed performances. NVIDIA saw significant gains, reflecting strong performance in the tech sector. Bitcoin and Ethereum experienced notable declines, indicating broader market volatility. Coinbase and MicroStrategy both decreased slightly, while Block Inc. remained relatively stable. Riot Platforms, Grayscale Bitcoin Trust, and Galaxy Digital Holdings all saw declines, suggesting overall market uncertainty impacting these stocks
Stock Market Overview
DOW: 39,308.00 -0.06%
S&P 500: 5,537.02 +0.51%
NASDAQ: 18,188.30 +0.88%
Russell 2000: 2,036.62 +0.14%
The stock market shows a mix of slight declines and gains. The DOW saw a minor decrease, while the S&P 500 and NASDAQ posted notable gains, driven by strong performances in the tech sector. The Russell 2000 also showed a slight increase, indicating moderate positive sentiment in smaller-cap stocks.
BTCUSDT:
Bitcoin’s daily chart shows a strong support line at $59,000, which has been tested multiple times. The RSI is currently at 33.03, indicating oversold conditions. Holding above this support is crucial to prevent further declines.
Headlines
Social media platforms are buzzing with ‘buy the dip’ mentions as Bitcoin experiences a price decline, indicating increased investor interest in purchasing during the downturn.
The SEC has filed a lawsuit against Silvergate, accusing the firm of fraud and suspicious transfers amounting to $9 billion, highlighting ongoing regulatory scrutiny in the crypto space.
Layer Zero’s [ZRO] token has surged by 52% over the past week, showcasing strong performance and growing investor interest in the project.
Riot Platforms, a leading Bitcoin mining firm, increased its deployed hash rate by 50% in June, resulting in the mining of 255 Bitcoin. This marks a nearly 20% rise in production from May.
Mt. Gox Announces Repayments in July 2024: The defunct Bitcoin exchange Mt. Gox has announced that it will begin repayments to its creditors in July 2024, potentially affecting the market with the release of significant amounts of Bitcoin.
On days like today, it’s crucial to zoom out and focus on fundamentals. Reflect on why you invested in crypto and envision its future potential. Look at the long-term trend rather than making emotional, reactive decisions during market dips. Rash decisions on red days can lead to uninformed choices and potential losses. Stay informed and focused. Good luck!
Lion’s Share Picks: $QNT | $OCEAN | $ARB | $RKR | $FBG | $WNT | $RWA | $DATA | $EMC | $XALPHA | $KOI | $NAKA | $OPUL | $OLM | $QUIL | $UPO | $BXX | $2DAI | $CSIX
