The Bitcoin (BTC) price plunged 19% on August 5, hitting a nearly six-month low of $49,320. The selloff also pushed Bitcoin futures premiums, often seen as a proxy for optimism among derivatives traders, to their lowest levels in three months. Traders are now debating whether Bitcoin prices below $53,000 are a golden opportunity, or whether the risk of another drop to $47,000 is too high.Bitcoin futures market shows investors are not bullishTo gauge the impact of the recent price crash, we should start by analyzing the Bitcoin futures market. Unlike perpetual contracts, which are usually settled every 8 hours, BTC…
Author: Crypto Flexs
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Solana traders and investors lost more than $65 million in the last 24 hours. Experts say Solana (SOL) is not falling naturally but is being pushed down by whales. Geopolitical tensions and Japan’s recent interest rate update have caused the entire cryptocurrency market to plunge by 16% in the last 24 hours. Meanwhile, Solana (SOL), the world’s fifth-largest cryptocurrency by market cap, has experienced a serious breakdown of its $121 support level. This breakdown came as SOL saw a significant price drop of more than 20% in the past 24 hours. Solana’s major faults After this massive price drop and…
Republican presidential candidate Donald Trump was able to make another statement on cryptocurrencies as markets were having a tough day. Trump joined Adin Ross for a livestream interview on the platform Kick, and the two discussed a variety of topics. Ross, 23, rose to fame as a video game streamer on Twitch, but was banned from the platform for repeatedly using profanity. Ross noted the U.S. government’s recent selloff of cryptocurrencies and asked whether he would still support cryptocurrencies if Trump wins the November election. “They shouldn’t be doing it because they have to try to make it happen,” Trump…
Over the weekend, EthereumThe second largest digital asset has taken a hit with a significant price drop, triggering widespread negative sentiment surrounding the cryptocurrency asset and the factors that could be causing the decline. Digging into the issue, popular cryptocurrency analyst and trader Michael Van De Poppe provided insight into the recent price action of ETH, which he said capitulation. Ethereum Price Drops Due to Surrender Michael Van De Poppe, a well-known market expert, said: Provided His insights on Ethereum with the cryptocurrency community on the X (formerly Twitter) platform. His views point to significant selling pressure and panic among…
Lawrence Jengar 05 Aug 2024 15:35 The launch of the Ethereum ETF is a milestone in integrating digital assets with traditional finance, attracting the attention of major financial institutions such as BlackRock and Fidelity. The launch of the Ethereum ETF represents a significant step in integrating digital assets into traditional finance, providing investors with direct exposure to Ether through a familiar investment vehicle. The event attracted significant attention from prominent financial institutions such as BlackRock and Fidelity, increasing Ethereum’s legitimacy and accessibility (blog.bitfinex.com). Ethereum ETF Launch Falls Short of Bitcoin ETF Debut The launch…
According to Arkham Intelligence, a wallet believed to be controlled by the United States government transferred 300 Ether (ETH), worth approximately $699,000, to a wallet address ending in “d46” on August 5th.The on-chain analytics firm claims that the current $0 balance in the wallet is due to a seizure by the U.S. government.Source: Arkham IntelligenceEthereum price movementThe reports that the US government has transferred ETH follow several days of disappointing price action following the launch of an Ethereum exchange-traded fund (ETF) in the US.Independent analyst Crypto Lion said the lackluster ETH price action following the ETF launch was largely due…
Bitcoin (BTC) fell below $50,000 in early Asian trading on August 5, as global markets took a hit on risk aversion. Bitcoin has fallen nearly 31% over the past three days in a “once in seven to 10 years” event, and analysts are divided on whether BTC will recover in the short term.BTC/USD daily chart. Source: TradingViewOver $500 billion was wiped out of the cryptocurrency market in just 24 hours as Bitcoin fell below $50,000, causing many leveraged positions to be liquidated.According to data from Coinglass, approximately $1.08 billion worth of leveraged positions were liquidated across the derivatives markets, of…
While Bitcoin continues to dominate the cryptocurrency market, smaller coins such as Polygon and Avalanche are also gaining ground. Digihorse They are gaining attention for their significant earning potential. Each of these tokens offers unique opportunities in its own niche. Polygon and Avalanche are competing for market share in a highly competitive sector. DigiHorse, on the other hand, has a strong presence in the expanding blockchain gaming sector, which is valued at $128.62 billion in 2022. Experts suggest that DigiHorse has the potential to generate 2,150% revenue by 2024, thanks to its innovative approach and growing market interest. Polygon (MATIC)…
While Bitcoin continues to dominate the cryptocurrency market, smaller coins such as Polygon and Avalanche are also gaining ground. Digihorse They are gaining attention for their significant earning potential. Each of these tokens offers unique opportunities in its own niche. Polygon and Avalanche are competing for market share in a highly competitive sector. DigiHorse, on the other hand, has a strong presence in the expanding blockchain gaming sector, which is valued at $128.62 billion in 2022. Experts suggest that DigiHorse has the potential to generate 2,150% revenue by 2024, thanks to its innovative approach and growing market interest. Polygon (MATIC)…
The overall downturn in the cryptocurrency market has also affected Mimecoin. The GMCI index for the block’s Mimecoin shows that the sector is down 8.87% in the last 24 hours as of the time of publication. The top three assets by weight, Dogecoin, Shiba Inu, and Pepe, are down 9.23%, 2.36%, and 13.87%, respectively. Solana and Mimecoins have also taken a hit. The Block previously reported that their market cap fell 16% in a single day. The general partner of venture firm Cinneamhain Ventures (CEHV) said that Mimecoin tends to take a big hit during market downturns. “We’re starting to…