Today, Bitcoin and other major cryptocurrencies were affected by a downturn in U.S. stocks, leading to a market-wide correction. Bitcoin briefly fell below $56,000, while altcoins experienced even greater declines. Additionally, the ETF market faced uncertainty due to warnings from the FBI that North Korean cybercriminals might target Bitcoin ETF companies.

Daily Macro:

Bitcoin Market Performance:

Bitcoin ($BTC) saw a significant drop due to the influence of the U.S. stock market, briefly falling below $56,000. This highlights the growing correlation between the cryptocurrency market and traditional financial markets.

ETF Performance:

Yesterday, 10 Bitcoin ETFs saw a net outflow of $280 million, while Ethereum ETFs experienced a net outflow of $47 million.

Daily Focus:

Avalanche‘s Avalanche9000 Network Upgrade

Reason for Focus:

Avalanche has announced the launch of the Avalanche9000 network upgrade, which aims to make deploying individual L1 chains more economically viable, easier to customize and maintain, and faster to bring to market. The upcoming Avalanche9000 testnet is expected to attract a large number of developers, who will be rewarded for building the foundational infrastructure of the Avalanche L1 extension network.

Related Token Performance:

$AVAX fell 5% in the last 24 hours.

Outlook:

With the launch of Avalanche9000, AVAX is likely to garner more attention in the short term, especially as the testnet goes live and developer incentives are implemented. This technical upgrade could further strengthen Avalanche's position in the L1 blockchain space, attracting more projects to deploy on its platform.

Next Focus:

TON Ecosystem

Reason for Focus:

After the arrest of Telegram's CEO, TON prices continued to decline, leaving most holders at a loss. This event could spark further market attention on TON, especially as the price approaches recent lows, potentially attracting investors looking to buy the dip.

Related Assets:

$TON \ $NOT \ $DOGS \ $REDO

How to Participate:

Investors can closely monitor TON's price movements and choose the right moment to enter. Additionally, participating in other projects within the TON ecosystem could also yield additional benefits.

CoinEx Daily: Bitcoin briefly fell below $56,000, Avalanche launches Avalanche9000 network upgrade