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Bitcoin Recovers — Is The Storm Over?
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#XRP Drops Below $0.57 in Market Rout On Friday, August 2, XRP slid by 6.13%. Following a 4.20% loss on Thursday, August 1, XRP ended the session at $0.5604. Significantly, XRP extended its losing streak to three sessions as the broader crypto market fell by 5.93% to a total market cap of $2.148 trillion. US Labor Market Data Triggers Recession Fears On Friday, August 2, the US Jobs Report intensified investor fears of a hard US landing, fueling a flight to safety. The US unemployment rate unexpectedly jumped from 4.1% in June to 4.3% in July, the highest since October 2021. Deteriorating labor market conditions impacted wage growth, which increased by 3.6% year-on-year in July, down from 3.9% in June. Weaker wage growth could reduce disposable income, curbing consumer spending. A pullback in consumer spending, with private consumption contributing over 60% to the US economy, may trigger a recession. XRP saw heavy losses despite investor hopes of an SEC vs. Ripple settlement. #BinanceTurns7
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#SAGA SAGA/USDT Update: Recent Market DynamicsIn the last four hours, SAGA/USDT has exhibited significant price movements. The pair began with a strong upward trend, reaching a peak of $0.638 as increased buying interest and positive sentiment drove the price higher. This surge was likely influenced by recent bullish developments and heightened market enthusiasm around the SAGA token.However, the price has since retraced to approximately $0.620. This pullback could be due to profit-taking and market consolidation following the initial rally. Technical indicators show a mixed outlook: the Relative Strength Index (RSI) is approaching overbought territory, suggesting a potential for further consolidation or a brief retracement. Additionally, the Moving Average Convergence Divergence (MACD) is showing signs of a bearish crossover, indicating a possible shift in momentum #BinanceTurns7
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U.S. Inflation Reaccelerates: Core PPI Hits Highest Level Since 2022,
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#BONK Critical Updates_ Current Price: 0.0000207 Recent Low: 0.0000201 Recent High: 0.000025 Price Movement: Bonk has experienced a significant decline from its recent high of 0.000025 to its current price of 0.0000207, indicating a bearish trend. Percent Decline: From its recent high to its current price, Bonk has declined by approximately 17.12% ((0.000025 - 0.0000207) / 0.000025). Trend: Short-term Trend: Bearish Long-term Trend: Neutral Support Levels: *0.0000201 (recent low, major support) *0.0000195 (minor support) *0.0000185 (long-term support) Resistance Levels: *0.0000220 (minor resistance) *0.0000230 (psychological resistance) *0.000025 (recent high, major resistance) Indicators: *RSI (14): 35.60 (neutral) *MACD (12, 26): -0.000001 (bearish) *Bollinger Bands: Price is near the lower band, indicating oversold conditions Bonk's decline suggests a potential trend reversal. The oversold conditions and proximity to the recent low indicate a possible bounce or consolidation. However, a break below 0.0000201 could lead to further downward movement. A reversal or breakout above 0.000025 is needed to regain bullish momentum. $BONK #BinanceTurns7
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