📉 The crypto market just experienced the largest sell-off in nearly a year, losing $313 billion from August 2. The S&P 500 also fell 4.4% over the same period.
- Cause: weak jobs data, slow growth in big tech stocks, recession fears.
- Large companies such as Microsoft and Intel reported lower-than-expected Q2 results, NVIDIA was affected by expectations of interest rate cuts in September.
- Capital shifted to smaller companies.
💔 Total crypto market capitalization decreased by $314 billion from August 2. Solana (SOL) fell the most in the top 10, losing 25.7% of its value. BTC and ETH also dropped 14% and 17%.
- Jump Crypto sold off hundreds of millions of dollars in assets, contributing to this sell-off.
📉 Crypto Fear and Greed Index fell into "fear" with a score of 26, the lowest in the past 23 days.
- Next week is forecast to be difficult for the crypto market, needing to increase trading activities from traditional financial institutions.
💬 What do you think about the current situation? Share your opinion below in the comments section!#CryptoNews#Bitcoin #Blockchain