After experiencing the violent turmoil remembered as the "805 Black Swan", the cryptocurrency market finally ushered in a moment of tranquility.

The sudden crash was as ruthless as the autumn wind sweeping away the fallen leaves, leaving many investors heartbroken and unable to do anything but silently lick their wounds. However, the market sentiment seems to be more fickle than people expected. The pain has not yet completely healed, and the discussion about bargain hunting has quietly become a new hot topic, replacing the greetings of the past. This sudden optimistic atmosphere can't help but make people wonder if it is too optimistic?

I won’t elaborate on the reasons for this wave of ETH and BTC crashes (if you are interested, just review my previous articles)

In fact, every big drop is teaching us how to trade in cryptocurrencies, how to manage our positions, and how to respect the market!

In just a few days, the Bank of Japan raised interest rates, the situation in the Middle East became tense, a certain technology stock crashed, the US SAM rule was triggered, and other negative news made the risk aversion in the global financial market reach its peak! Almost everyone is selling! This big drop is not a big drop in the cryptocurrency circle, but a global economic downturn. Everyone is afraid that the US economic recession will trigger a financial crisis. The cryptocurrency circle is in a relatively strange position at this stage. In this case, I once again suggest that everyone should focus on short-term trading! ! ! !

XRP has seen a significant increase in trading volume recently, attracting the interest of many cryptocurrency market participants and investors. The surge in trading volume indicates that XRP is seeing high trading interest, but the underlying data reveals a more nuanced picture.

Selling pressure outweighing a strong price recovery is the main sign of the recent surge in volume. XRP’s price remains under a lot of pressure and is still hovering around $0.51 despite the increase in trading activity.

It appears that a large number of sell orders are the main reason for the increase in trading volume. In order to suppress the price of XRP, there has been a huge amount of selling pressure in the market, even outweighing any possible buying interest.

Bitcoin continued to rebound this morning (7), breaking through $57,000, while Ethereum continued to challenge and stabilize above $2,500. The four major U.S. stock indexes rebounded across the board.
After Bitcoin rebounded to $55,000 yesterday (6), it briefly broke through $57,000 near 2 a.m. this morning (7). Unfortunately, selling pressure emerged and the price fluctuated slightly downward. At the time of writing, it was reported at $56,277, up 0.84% ​​in the past 24 hours.

Ethereum fluctuates in a narrow range at $2,500
Ethereum's performance is slightly weaker than that of Bitcoin. It is currently struggling to stay above $2,500. At the time of writing, it is trading at $2,459, down 3.12% in the past 24 hours.

As the cryptocurrency market gears up for the next bull run, several altcoins stand out for their potential to deliver impressive returns.
PEPE
Pepe is a standout in the meme coin space, having surged more than 20x since May 2023. With a current market cap of $5.2 billion, it is expected that it could surge to $50 billion, potentially generating more than 10x returns. Pepe is now priced at $0.000013, ranking 22nd in the cryptocurrency market. With a bullish turn on the daily chart, PEPE price action is showing a massive uptrend as the cryptocurrency market grows. In 2024, the meme coin has grown by nearly 1000% year-to-date and continues to trend upwards as demand increases.

Bitcoin rebounds above $55,000 after sharp drop to $49,000, market sentiment cautious

in conclusion
In early August 2024, Bitcoin fell sharply from $65,000 to $49,000, triggered by the Mt Gox sell-off and interest rate decisions.

The price has since rebounded above $55,000, showing signs of recovery

Some analysts believe that this crash has similarities with the 2020 COVID-19 crash and is similar to the pattern during the 2016 halving period.

Crypto Fear & Greed Index enters "Extreme Fear" territory with a score of 17 out of 100

With so many favorable factors supporting us in the future, the second half of the bull market is bound to come!
1. The positive effects of ЕТF are long-term
2. Ethereum Prague Upgrade
3. Expectations of interest rate cuts and substantial inflow of interest rate cut funds.
4. The US election obtains votes from crypto users and will release more favorable news
5. The Basel Committee on Banking Supervision will allow banks to have a 2% crypto reserve exposure!
The altcoin market will return strongly, and these 3 tokens are expected to rise 100 times in the bull market!
August will become a critical node, during which there may be certain seasonal fluctuations;

The probability of the US rate cut in September is 83%. Bitcoin fell back to 49,000 this time, and it was expected to fall to 48,000, which is a thousand points short. At present, the large-volume pin is supposed to be a bottom signal. Even if it is not the bottom, it will be a staged bottom. But to confirm the bottom, the bottom pattern needs to appear. There may be two situations: one is that the retracement does not break through 53,000 US dollars, forming a head and shoulders bottom pattern; the other is to step on 48,000 again, forming a new double bottom structure.

The intraday pressure is 56,000-57,000. The daily rebound does not have much trading volume, and the possibility of a direct V-shaped reversal is very small. When it fell to 50,000 yesterday, I suggested that you could enter the market. If you haven't entered the market, don't chase high today. You can add positions when it falls back. Short-term players can consider exiting first, and long-term holders don't care and can continue to hold.

As bad things happen, the crypto industry is once again facing its darkest hour. Bitcoin fell below $50,000, Ethereum fell below $2,200, and other currencies fell to new lows this year. In recent days, virtual currencies have once again fallen sharply. What happened?
If you also want to dig deep into the cryptocurrency circle and maximize your investment returns, but you can't recognize the market, then no matter how good the opportunity is, it has nothing to do with you. Follow me on the homepage, and I will share spot codes, bull market layout strategies, and 100-fold potential coins for free every day!
How far are you from financial freedom?

Around 14:00 on August 5, the price of Bitcoin fell to $48,934. As of this writing, the price of BTC is around $50,404, a 24-hour drop of 16%. The price of Ethereum once fell to $2,084.69, and the price of ETH is around $2,194, a 24-hour drop of more than 23%. Some people say that "Ethereum is the biggest altcoin" and has fallen more than altcoins.

U.S. stocks continued to fall at the opening last night, with the four major indexes falling sharply, and the seven major U.S. stock markets competing for misery. The surge in the VIX index shows that market panic has intensified. However, Federal Reserve official Daly came out earlier to calm market sentiment, saying that the economy has not yet fallen into recession.
Recently, due to the rising unemployment rate in the United States, the "Sam Rule" that predicts an economic recession has been triggered, and the U.S. stock market has suffered heavy losses for several consecutive days. The disaster also affected Asian stock markets such as Japan, South Korea and Taiwan on Monday.
The U.S. stock market continued to fall after opening last night, and the four major U.S. stock indexes suffered another setback. Specifically:
Dow Jones Industrial Average: Down 2.6%, or 1,033.99 points, to 38,703.27

Cryptocurrency finally experienced a decent crash today, 21 years later.
There was no surprise, the ones who got hurt were still the leeks.

Especially those newcomers who were attracted into the cryptocurrency circle by the continuous rise. Most of them entered the market in March, and now they have little money left in their pockets.

Those friends who are fortunate enough to follow us are lucky. At least you still have the funds to buy at the bottom. Today, at least ten friends hesitated and did not join us. They bought a lot of altcoins and asked me what to do now?
If you are still underwater and can't see the market trend clearly, if you are bullish, it will fall and if you are bearish, it will rise, please follow my homepage and share the profit code for free every day

As the cryptocurrency market continues to crash and portends a sharp correction ahead, altcoins are losing their bullish grip on multiple support levels. This is increasing the number of market liquidations and the overall FUD in the market.

While this crash will continue to fluctuate with global markets, some altcoins are destined to buck the trend. With Bitcoin’s small recovery, we could see some altcoins quickly recover after the crash and move back to higher levels. Here is a list of such high-potential altcoins:

After the crypto crash, these altcoins are expected to recover quickly

As if things weren’t bad enough, the crypto industry once again faced its “darkest hour” - at around 2 p.m. today, the price of Bitcoin fell to $48,934.8, a 24-hour drop of nearly 15%; the price of Ethereum once fell below $2,100 to $2,084.69, a 24-hour drop of more than 22%.
Following 94, 321, 519, a new anniversary has been added - 805.
If you are still underwater and can't see the market trend clearly, if you are bullish, it will fall and if you are bearish, it will rise, please follow my homepage and share the profit code for free every day
After the Bitcoin spot ETF and Ethereum spot ETF were approved and put online for trading, the crypto industry was affected by many factors, including the world's political and economic situation, US economic development and market expectations, as well as the industry's own development conditions.

After Bitcoin fell below the $60,000 mark yesterday, it fell below the $50,000 mark again today! Ethereum also fell below $2,100 again today!
As of August 5, 2024, Bitcoin is ranked first in market capitalization, and its price has fallen by 13% in the past 24 hours. The market capitalization of Bitcoin is $1.02 trillion.

According to the data, the total market value of cryptocurrencies on the entire network has fallen below $1.9 trillion, now at $1.86 trillion. The decline in 24 hours has reached about 17%! In the past 24 hours, the total amount of liquidation on the entire network has reached an astonishing $1.05 billion, and a total of about 280,000 people have been liquidated!

Bitcoin price further dropped below the $55,000 support area. BTC is down more than 15% and could even fall towards the $50,000 region.
If you are still underwater and can't see the market trend clearly, if you are bullish, it will fall and if you are bearish, it will rise, please follow my homepage and share the profit code for free every day

Bitcoin price plummets
Bitcoin price extended its decline and broke below the $56,500 support area. BTC even declined below the $55,000 and $54,500 levels. A low was formed near $52,430 and the price is currently consolidating losses.
It recovered above $53,500 and tested the 23.6% Fibonacci retracement level of the down move from the $61,040 high to $52,430 low. However, the price is now struggling to break the $55,000 resistance area. There is also a connecting bearish trend line forming with resistance at $56,700 on the hourly chart of the BTC/USD pair.

Bitcoin has experienced its worst weekly crash since the bankruptcy of FTX Exchange in 2022. The price of Bitcoin fell below $54,000 on Monday (August 5), reaching a low of $52,422. Warren Buffett sold Apple shares, sparking a panic over artificial intelligence (AI) speculation. U.S. aircraft carriers sailed into the Middle East to prepare for war, and many European countries issued warnings for citizens to evacuate. The crypto market was in a state of anxiety, which accelerated the withdrawal of funds.
If you also want to dig deep into the cryptocurrency circle and maximize your investment returns, but you can't recognize the market, then no matter how good the opportunity is, it has nothing to do with you. Follow me on the homepage, and I will share spot codes, bull market layout strategies, and 100-fold potential coins for free every day!

On Monday (August 5), gold plummeted to $2,413, then quickly rebounded to $2,430, and Bitcoin fell below $58,000. Japanese government bond futures triggered the "circuit breaker" mechanism, and Japan's Topix and Nikkei indexes fell 20% from their July highs. Israel is preparing for an Iranian attack, and a regional alliance led by the United States is being formed, and an aircraft carrier has been sent to stop missiles.

As the United States sends defense reinforcements to the Gaza Strip and urges a ceasefire, Israel is preparing for possible attacks by Iran and local militias in retaliation for the assassinations of Hezbollah and Hamas officials.

On Monday (August 5), gold plummeted to $2,413, then quickly rebounded to $2,430, and Bitcoin fell below $58,000. Japanese government bond futures triggered the "circuit breaker" mechanism, and Japan's Topix and Nikkei indexes fell 20% from their July highs. Israel is preparing to respond to Iranian attacks, and a regional alliance led by the United States is being formed and an aircraft carrier has been dispatched.
Stationed to stop missiles.

As the United States sends defense reinforcements to the Gaza Strip and urges a ceasefire, Israel is preparing for possible attacks by Iran and local militias in retaliation for the assassinations of Hezbollah and Hamas officials.

The U.S. Federal Reserve (Fed) maintained the federal benchmark interest rate at 5.25% to 5.5% for the eighth time at the end of its latest FOMC meeting on the 1st, as expected by the market. Fed Chairman Powell also confirmed at the press conference that the long-awaited rate cut is imminent.
UK cuts interest rates for first time in four years
In addition, the Bank of England (BOE) also released its latest interest rate decision later on the 1st, announcing that the benchmark interest rate would be cut by one basis point from 5.25% to 5%, the first interest rate cut since the outbreak of the new crown epidemic in 2020.

Bitcoin briefly fell below $63,000
We know that after Bitcoin and Ethereum spot ETFs were approved for listing by the US SEC, and after Bitcoin completed its fourth halving in history in April, interest rate cuts are considered to be another major positive factor stimulating the rise of the cryptocurrency market.