Bitcoin Briefly Tastes $70K, ETH, DOGE Continue In The Red: 'Liquidity Zone Around $73,000' Might Be Tapped, Says Trader

Cryptocurrency markets have been trading mostly flat ahead of major economic data releases on Wednesday.

Prices as of 3.30 p.m. ET:

Notable Statistics:

• Coinglass data shows open interest1.4% higher at $37.3 billion, the highest since mid-April.
• IntoTheBlock data shows transactions greater than $100,000 trending down in the past seven days, from 8,887 transactions on June 3. to 5,027 transactions on Jun 9.
• Bitcoin news revealed that around 98,000 bitcoin have been taken off exchanges in the last 30 days.
• Bitcoin Archive reported that Paraguay will sell its excess hydro-energy to Bitcoin miners as part of its new economic development strategy.

Notable Developments:

• Norway Claws Back $5.7M From Biggest Crypto Hack Ever: Here’s What Happened
• Economist Predicts Major Altcoin Surge Before Recession: ‘Altseason Will Send Alts Flying’
• Financial Sector Dominates Q1 Crypto Funding With $323M InflowsWill Bitcoin ‘Swipe The Low’ Ahead Of Wednesday’s FOMC Meeting?
• Will Bitcoin ‘Swipe The Low’ Ahead Of Wednesday’s FOMC Meeting?

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Another crypto trader predicted that Bitcoin is looking good to aim for the liquidity zone around $73,000. He added, "Market usually moves to prices at which liquidity is stacked – this can be a fakeout to take liquidity and then move down."

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