The Ethereum Trust ETF (ETHA) dropped 47% year to date after a 172,000 payrolls print drove the 2-year Treasury yield to 4.16%. SpaceX's $22.5 billion retail IPO on June 12 forced speculative holders to liquidate ether. ETHA fell 11.35% on June 5 alone, with Ethereum testing $1,591 intraday.
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Bitcoin surge to $63,700 crushes short sellers
Summary by ByteBrief