Bitcoin resists bear assault, holds levels
Crypto dropped 0.75% in 24 hours to $2.29 trillion. On Wednesday, cryptocurrencies fell as stocks rose, and on Thursday, synchronized selling occurred. The emotion index remains 57 (greed). This is negative for the market since fear may have lured buyers on downturns, but now they will wait for a worse fall.
Bitcoin bulls have pushed back from the 50-day moving average. The price changed -0.6% during the last 36 hours, although it rose 5.5% in the five hours after hitting lows of $62.3K on Thursday night.
Current prices are correcting from July's amplitude. With equity volatility rising before labor market data, this short-term trend is hard to depend on.
According to CryptoQuant, Bitcoin's hashrate drop from its all-time high is 3%, down from 8% on July 9. A prolonged rise is generally accompanied with a rebound in the index. BTC's price stability will increase with hashrate rise.
Solana ecosystem trade volume on decentralized exchanges overtook Ethereum for the first time in July at $55.8 billion vs $53.8bn. The measure likely grew because of Solana-based meme token excitement.
USDT issuer Tether reported a record $5.2bn net profit in the first half of the year, including $1.3bn from US government bond interest. The business earned an additional ~$3.9bn on rising bitcoin and gold holdings.
TON-based Web3 browsing and a mini-app store were added to Telegram by developers. Telegram Stars may now be awarded to in Settings.
