Global #cryptocurrency market

GameStop Corp. (GME), the video game retailer turned meme stock phenomenon, experienced a remarkable 24% surge in its share price today, surpassing popular memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) in market capitalization. The unexpected rally has sparked speculation about the possible influence of "Roaring Kitty," the Reddit investor who played a pivotal role in GME's meteoric rise in early 2021.

In a surprising turn of events, Ethereum witnessed a series of long liquidations totaling a staggering $62 million within just 24 hours, sending shockwaves through the cryptocurrency market. This significant liquidation event has sparked discussions and raised questions about the underlying factors contributing to such a substantial sell-off.

In a week marked by significant market volatility and a notable correction in the cryptocurrency space, Bitcoin whales have made a striking move, acquiring a staggering $1.4 billion worth of Bitcoin within a mere 24-hour period.

Litecoin (LTC), a leading cryptocurrency and one of the earliest Bitcoin forks, is experiencing a remarkable surge in network activity. Recent data reveals that the number of unique addresses on the Litecoin blockchain has doubled, surpassing 700,000. This significant increase suggests a growing interest in and potential adoption of Litecoin as a digital asset.

The cryptocurrency market has been experiencing a period of volatility recently, with many tokens experiencing significant price swings. One token that has been particularly hard hit is Ethena (ENA), which has lost over 30% of its value in the past week.

The introduction of spot Bitcoin ETFs in January 2024 marked a turning point for the cryptocurrency. These ETFs offer a regulated way for investors to gain exposure to Bitcoin without the complexities of directly buying and holding the digital asset. But how do Bitcoin ETFs impact the price of Bitcoin itself?