Crypto markets are seeing a modest recovery today, June 11, with almost all top ten coins in the green, as data from CoinMarketCap shows.
Bitcoin, which dropped below the $7,000 mark June 10, is currently trading at $ 6,760 as of press time.
The leading cryptocurrency has seen slight gains of 0.20 percent over the past 24-hour hours, but is down about 13 percent over the past two days.
In Vays' opinion, Bitcoin will soon fall below $5,000, its lowest threshold since October 2017.As of press time, CoinMarketCap data indicates BTC trading volumes of 4.8 bln, up from their intra-weekly low of 3.8 bln on June 9.Top altcoin Ethereum is also up slightly on the day, seeing almost 1 percent growth and trading at around $519 to press time.
The persistent bear market has drawn the attention of international mainstream media, including Bloomberg, the Wall Street Journal, Reuters, and the Guardian, who have all attributed yesterday's market dip to the recent hack of minor South Korean crypto exchange Coinrail over the weekend.
As Cointelegraph reported Saturday, fresh reports citing "Source familiar with the matter" suggested that the U.S. Commodity Futures Trading Commission has been demanding extensive trading data from several major U.S. crypto exchanges.
The CFTC is reportedly investigating whether price manipulation might be compromising prices in Bitcoin futures markets.
The U.S. context continues to place high demands on cryptocurrency exchanges to come under the purview of regulators, with the U.S. Securities and Exchange Commission last week declaring it has been "Underwhelmed" by regulatory adherence among exchanges.
The growth is likely related to today's positive news from the world's second largest crypto exchange, Binance, that the exchange will offer crypto-fiat trading on its Malta-based platform.
Total market capitalization for all cryptocurrencies is at $296 bln to press time, in stark contrast to the $470 bln mark hit during the markets' tantalizing rally in early May..
Bearish Markets See Only Slight Gains
Published on Jun 11, 2018
by Cointele | Published on Coinage
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