Coin World Network reports:
**China Fund News** by Anman
In the early trading hours of July 4th, cryptocurrencies experienced a market-wide decline. As of press time, Bitcoin has fallen below $60,000, with an intraday drop of over 3.8%. Ethereum has dropped below $3,300, with an intraday drop of over 4%.
Data indicates that after several days of net inflows, the spot Bitcoin ETF faced a net outflow of $13.6 million on July 2nd.
Flash Crash! Nearly 110,000 People Liquidated
According to Investing.com, this morning, Bitcoin began a rapid descent around 9:30 AM, with the price of Bitcoin (BTC) retreating from above $60,000 to around $58,000.
Data from Coinglass shows that nearly 110,000 people have been liquidated in the past 24 hours.
What Happened?
Analysts believe that the direct cause of the cryptocurrency market’s plunge may be related to Binance Exchange halting trading services for six currencies.
Recently, Binance, the world’s largest cryptocurrency exchange, will cease trading services for the following six currency pairs: BTC/AEUR, ETH/AEUR, AI/TUSD, CHR/BNB, GAS/FDUSD, LQTY/FDUSD, with the changes taking effect on July 5th.
The company did not disclose the specific reasons for the delisting, only reminding that it regularly reviews all listed spot trading pairs and will remove some pairs in cases of poor liquidity or other factors. Meanwhile, Binance has recently added some new trading pairs to its platform. WIF/BRL, ZK/USDC, and ZRO/USDC have been added to Binance spot trading.
It is noteworthy that this service is not open to all customers. Currently, users residing in the following countries or regions will not be able to trade the aforementioned spot trading pairs: Canada, Cuba, Crimea region, Iran, Netherlands, North Korea, Syria, the United States and its territories (American Samoa, Guam, Puerto Rico, Northern Mariana Islands, U.S. Virgin Islands), and any non-government-controlled areas of Ukraine.
Since the beginning of the year, the exchange has repeatedly stopped certain trading services. Last month, it halted trading services for the following currency pairs: ALPACA/BTC, NFP/TUSD, MDX/BTC, QUICK/BTC, and XAI/BNB. A few months ago, Binance terminated all operations involving Monero (XMR), which led to a price crash of the coin.
Editor: Huang Mei
Reviewer: Muyu
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