🚀 Bitcoin (BTC) ETF trading volume surpassed $1 billion on August 5 as the market crash triggered “extremely high” trading activity in crypto, according to Galaxy Digital’s Alex Thorn.

🔹 Bitcoin ETF trading volume reached over $1.3 billion in 20 minutes, with iShares Bitcoin Trust leading the way with $875 million.

🔹 Thorn predicts that BTC ETF inflows will increase from “buying the dip” as BTC prices have fallen about 8% since August 4.

🔹 Ether (ETH) falls more than 21% after Jump Trading and Paradigm VC sell hundreds of millions of dollars in ETH.

📉 BTC price falls about 8% on the day. Source: CoinMarketCap

📊 Report: Jump has sold over $377 million in ETH and could liquidate as much as $481 million.

📉 Macro environment worsens, S&P 500 down more than 5% since August 1.

📉 Macro sentiment worsens after poor US unemployment data and massive unwinding across all assets spikes volatility.

📈 Bank of Japan hikes interest rates on July 30, forcing traders to unwind positions quickly.

📉 Markus Thielen of 10x Research predicts new crypto investments will slow down until the market stabilizes.

💬 What do you think about the situation? Share your thoughts below! 👇