🗞 Daily Crypto News, June, 11th💰

3 Reasons Why Bitcoin Price Continues to Reject at $10,000;
Coinbase Exploring Support for 18 New Digital Assets;
80% of US and European Institutional Investors Find Cryptocurrency Appealing: Survey;
‘Radical Indifference’: How Surveillance Capitalism Conquered Our Lives
Whale sends 0.55 ETH for a 2.6 million USD fee ! This is not a joke 😲😲😲 !;
🗞 Daily Crypto Calendar, June, 11th 💰

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 3 Reasons Why Bitcoin Price Continues to Reject at $10,000

Within the last hour Bitcoin (BTC) price rose to $10,180 on BitMEX before quickly reversing to $9,600. The quick rejection means that for the third time in 30 days Bitcoin price has rejected at the $10,000 resistance level.

Three factors that may have contributed to the volatility are: the Federal Reserve’s Federal Open Market Committee (FOMC) meeting, the liquidation of $14 million worth of short contracts, and the continued resilience of the multi-year resistance area from $10,000-$10,500.

The Fed had an FOMC meeting shortly before the sudden spike in Bitcoin’s volatility and during the meeting Federal Reserve chairman Jerome Powell stated the jobs market may have hit the bottom.

*“We want investors to price in risk like markets should. [He] says Fed would never hold back support for the economy because it thinks asset prices are too high. Popping asset bubble would hurt job-seekers.”

$16 million in Bitcoin futures contracts liquidated

Within a 30-minute window, $14 million worth of Bitcoin shorts were liquidated on BitMEX alone. Compared to other exchanges, the price of BTC rose higher on BitMEX by around $100.

🗞 Coinbase Exploring Support for 18 New Digital Assets

The largest cryptocurrency exchange in the United States is considering offering support for a variety of new digital assets.

According to a June 10 blog post from Coinbase, the exchange is exploring support for Aave (LEND), Aragon (ANT), Arweave (AR), Bancor (BNT), Compound Coin (COMP), DigiByte (DGB), Horizen (ZEN), Livepeer (LPT), NuCypher (NKMS), Numeraire (NMR), KEEP Network, Origin Protocol (OGN), Ren (REN), Render Network (RNDR), Siacoin (SC), SKALE Network, Synthetix (SNX), and VeChain (VET). However, Coinbase is not considering adding Siafunds (SF).

Coinbase did not give a timeline for listing these assets. The blog said the process required “significant technical and compliance review” in addition to some regulatory approval.

When Coinbase adds support for new digital assets, bullish behavior can often follow. Cointelegraph reported that when the exchange announced it would be adding Stellar Lumen (XLM) in March 2019, the token gained around 5.66 percent on the day. Much of MakerDAO’s (MKR) recent doubling in price has been attributed to it being added to Coinbase.

🗞 80% of US and European Institutional Investors Find Cryptocurrency Appealing: Survey

A new survey of about 800 institutional investors in the U.S. and Europe shows strong cryptocurrency adoption, particularly bitcoin. About 80% of institutions said they find cryptocurrency appealing, and 60% believe cryptocurrencies have a place in their portfolios.

Crypto Appeals to 80% of Institutions Surveyed

Fidelity Digital Assets, the cryptocurrency arm of Fidelity Investments, announced Tuesday the results of a survey to better understand institutional interest and adoption of cryptocurrencies as well as key barriers to investing in them. It was conducted from November 2019 to March 2020. Fidelity Digital Assets offers a full-service, enterprise-grade platform for securing, trading and supporting cryptocurrencies.

Breaking down the number, 74% of U.S. institutional investors find cryptocurrency appealing, while 82% of European investors do. “A notable contrast is that 25% of European investors find the fact that certain digital assets are free from government intervention to be appealing, whereas only 10% of investors in the U.S. feel this way,” the report further reads.

🗞 ‘Radical Indifference’: How Surveillance Capitalism Conquered Our Lives

When Shoshana Zuboff returns my call 15 minutes late, it’s because her previous call with an organization in Israel dropped halfway through and it took them a while to reconnect. Such is the peril of functioning in quarantine, even as tech companies exert more power than ever.

Rather than having time over the summer to reflect and plan her next book as she intended, Zuboff has been very busy with people wanting to speak with her and do virtual events. It’s part of the reason that for the last four months we’ve been trying to schedule a call, only to have the date repeatedly pushed back.

Birds are chirping in the background as we speak over the phone, part of the ambience of Zuboff’s home in the country. She says she’s lucky to be there, given the challenges her friends face balancing COVID-19 and living in cities. The birds beat the dystopian jingle of ice cream trucks as they rove New York City, looking for customers amid a pandemic.

“Pandemic life just takes so much time,” she says. “Between figuring out how to get groceries and everything else, it is just so painstaking.”

🗞 Whale sends 0.55 ETH for a 2.6 million USD fee ! This is not a joke 😲😲😲 !

If you have been in the Crypto space for a while you know that Ethereum gas fees have always been an issue for scaling the ETH network.

This is the main reason why users/developers are very excited about ETH 2.0 which is supposed to fix a lot of these issues and allow massive on and off-chains transactions at a very low price.

A little bit more than 24 hours ago: a whale paid more than $2.5 million to move $134$ !!!

Full article here