Bitcoin (BTC) fell to $60,000 during the European morning on Wednesday, a drop of 4% in the last 24 hours. The declines came after U.S. spot BTC ETFs snapped a five-day streak of inflows, recording $13 million of outflows on Tuesday. Concerns arise from distributions by defunct crypto exchange Mt. Gox, which is set to release up to 140,000 BTC this week.
Solana-based Jeo Boden (BODEN), a U.S. election-themed meme token, has dropped 70% in the past week, with meme tokens down nearly 95% from peak prices. The political finance (PoliFi) sector contracted by 11% post-debate, despite expectations of a rally. Research analyst Austin Freimuth suggests new meme tokens could emerge based on Trump's running mate selection.
Investment bank Architect Partners states the crypto industry has entered a major growth phase, increasing in value by over $750 billion in the first half of the year. This marks a significant improvement compared to the industry's position two years ago.
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