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🌙 Market Selloff Continues With $270M in Liquidations

The 19-day streak of net inflows for U.S.-listed spot bitcoin exchange-traded funds (ETFs) ended on Monday with a combined $65 million in net outflows.

Author

Mike Gavela
June 11, 2024

Crypto Roundup - June 11

The crypto market experienced significant turmoil as a widespread selloff led to $270.4 million in liquidations, impacting numerous traders and investors. This downturn was accompanied by Bitcoin ETFs seeing a substantial outflow of $65 million on Monday, breaking a 19-day streak of consistent net inflows and reflecting growing investor caution. Amid this volatility, MetaPlanet disclosed a $16 million Bitcoin purchase, a strategic move that resulted in a 10% increase in its shares. This purchase indicates confidence in Bitcoin's long-term potential despite the current market instability.

Top Stories:

  • Crypto market selloff continues with $270.4 million in liquidations.

  • Bitcoin ETFs see $65 million net outflows, breaking 19-day record.

  • MetaPlanet discloses $16M BTC purchase, shares jump 10%.

TOP STORIES

$270.4 million in liquidations as crypto market selloff continues

This week's crypto selloff has led to the liquidation of about $270.4 million in leveraged positions over the past 24 hours.

www.theblock.co/post/299597/270-4-million-in-liquidations-as-crypto-market-selloff-continues

Bitcoin ETFs See $65M Net Outflows on Monday, Breaking 19-Day Record Streak

Grayscale’s GBTC saw $40 million in outflows, the most among its counterparts, while Bitwise’s BITB led inflows at $7.6 million.

www.coindesk.com/markets/2024/06/11/bitcoin-etfs-see-65m-net-outflows-on-monday-breaking-19-day-record-streak

Metaplanet Discloses $1.6M BTC Purchase; Shares Jump 10%

The investment firm now owns 141 BTC, worth about $9.4 million.

www.coindesk.com/business/2024/06/11/metaplanet-discloses-16m-btc-purchase-shares-jump-10

FUNDRAISES

OTHER HEADLINES

PleasrDAO sues Martin Shkreli over Wu-Tang Clan album rights

PleasrDAO is suing Martin Shkreli for distributing copies of a Wu Tang Clan album to which he forfeited rights.

www.theblock.co/post/299599/pleasrdao-sues-martin-shkreli-over-wu-tang-clan-album-rights

Ethereum Funds Draw Highest Inflows Since March - The Defiant

Large entities are warming up to Ethereum again, according to CoinShares’ latest Digital Asset Fund Flows Weekly report.

thedefiant.io/news/defi/ethereum-funds-draw-highest-inflows-since-march

BODEN Solana Meme Coins Soar on Hunter Biden Guilty Verdict - Decrypt

Hunter Biden was found guilty on three felony gun charges Tuesday—and Solana meme coins inspired by the Bidens pumped afterwards.

decrypt.co/234823/boden-solana-meme-coins-soar-hunter-biden-guilty-verdict

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