Global markets blew up over the weekend, and the onslaught continued throughout the August 5 trading day, sending the Dow and S&P 500 down more than 1,000 points and sending Bitcoin (BTC) price below $49,000. Japan’s Nikkei 225 saw its worst one-day correction since October 1987, while Taiwan’s benchmark stock index saw its worst day of trading in 57 years. With almost all markets closing lower on August 5, it is too early to conclude that the sell-off is over, but traders are likely wondering if it is time to think like contrarians and pick up discounted assets themselves. To…
Author: Crypto Flexs
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Public Citizen, a consumer advocacy group, and Molly White, a writer who has been critical of cryptocurrencies, have filed a complaint with the Federal Election Commission, claiming Coinbase violated campaign finance laws.According to the complaint, Coinbase donated $25 million to the pro-cryptocurrency group Fairshake Super PAC and negotiated with the U.S. Department of Justice for government contracts, thereby violating campaign finance laws. The U.S. Marshals Service, a division of the Justice Department, said announce This summer, it announced it had signed a $32.5 million contract with Coinbase Prime to provide custody services. Cryptocurrencies have quickly become a part of the…
Aayush Jindal is a financial market guru with over 15 years of experience in Forex and Cryptocurrency trading. Known for his exceptional ability to provide technical analysis, Aayush is a trusted advisor and chief market expert to investors worldwide, guiding them through the complex landscape of modern finance with his sharp insights and insightful chart analysis. From an early age, Aayush showed a natural talent for deciphering complex systems and unraveling patterns. Driven by his insatiable curiosity to understand market dynamics, he embarked on a journey to become one of the most respected figures in the Forex and Cryptocurrency trading…
According to blockchain tracking firm Lookonchain, an unknown whale trader with a 100% positive track record has been aggressively buying Ethereum (ETH) for months. Lookonchain revealed that one “smart money” whale with a perfect track record of profiting from trading has accumulated around $70 million worth of ETH since late May. According to on-chain data, whales are accumulating ETH on Binance, the world’s largest cryptocurrency exchange. “The smart money with a 100% win rate bought 2,424 ETH ($7.22 million)… He bought 19,436 ETH ($68.25 million) at $3,511 since May 29th!” However, Ethereum is currently trading at $2,271, well below the…
Wang Long Chai Aug 6, 2024 06:26 AssemblyAI has released an enhanced version of its Zapier app, introducing new transcription options, events, and improved integrations. According to AssemblyAI, the AssemblyAI app for Zapier has been improved to provide greater flexibility, more features, and tighter integration with the Zap editor. Updated Transcribe Events The Transcribe event, previously known as “Get Transcript,” now includes all the options available in AssemblyAI’s Transcript API. This update allows Zapier customers to take advantage of speech recognition and audio intelligence capabilities. Users can set language codes, punctuation, and case-sensitivity options.…
According to data, long-term Bitcoin holders only sold around $600,000 worth of BTC during the flash crash (when the price plummeted to $49,500).On-chain analytics platform CryptoQuant recently revealed a striking contrast between Bitcoin (BTC) holders in one of their Quicktake blog posts.Bitcoin ‘Diamond Hand’ Sold at $600K LossBitcoin’s August 5 plunge below $50,000 was part of a larger panic that followed Asian stock markets reversing months of bullish momentum.According to the latest data, there was a BTC sell-off, causing BTC/USD to lose $20,000 in just one week.However, CryptoQuant contributor Cauê Oliveira analyzed the age of coins involved in unchained transactions…
The recent cryptocurrency crash is likely to have the same effect as the COVID-19 crash. Will the Fed cut rates as many analysts expect? Kyle Chasse, a popular market analyst for X, said: Advised Investors are urged not to panic over the recent cryptocurrency market crash. He pointed out that the NUPL indicator, which tracks Bitcoin (BTC) sentiment, shows that the market is still in a belief phase, indicating that we have not yet reached the end point. Chasse stressed that investors should not fear the possibility of long-term gains, as the market is simply in a bear market and…
Darius Baru Aug 6, 2024 07:32 Binance has announced important updates to its API, including request weight adjustments and websocket user data requests, effective September 3, 2024. Binance, one of the world’s leading cryptocurrency exchanges, has announced a significant update to its API that will take effect on September 3, 2024 at 06:00 UTC. According to Binance’s announcement, the update will include adjusting request weights and discontinuing certain WebSocket user data requests.Major changesThe coming changes will primarily focus on two areas:1. Request weight adjustmentStarting September 3, 2024, Binance will implement changes to the request…
More than half of the top 50 cryptocurrencies by market cap are down following the biggest cryptocurrency sell-off in a year.The total market capitalization of the cryptocurrency market has decreased by $510 billion.According to Binhdangg, author of CryptoQuant, more than 60% of the top 50 cryptocurrencies have lost all their gains in 2024 after the sell-off. He wrote in an August 6 post to X:”Since Black Monday, 60% of the top 50 coins have lost all their gains and even suffered losses since early 2024.”Top 50 cryptocurrencies, performance. Source: BinhdanggAfter the selloff, the price of Ether (ETH) briefly fell to…
Ethereum’s native token, Ether (ETH), is on a tear after hitting an eight-month low on August 5. Interestingly, this bounce is similar to the one in October 2023 that preceded a 168% price surge.Has ETH price already hit bottom?As of August 6, ETH/USD showed signs of a bullish reversal after bouncing off the support confluence formed by the lower trendline of the dominant ascending channel pattern and the 200-week exponential moving average (200-week EMA, blue wave). At the same time, the rebound was accompanied by a rise in Ethereum’s weekly Relative Strength Index (RSI) reading of 39.40, which is more…