MarketDown
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The SHA-256 algorithm that is used for hashing Bitcoin doesn't care about economics, politics, feelings, uptrends, downtrends etc. As long as miners keeps on hashing, it stays.
#MarketDown #Bitcoin
#MarketDown #Bitcoin
No one expected!
Bitcoin reached $70K on 29th of July and went to too low levels.
After the FOMC decision to keep interest rates, market reacted negatively same to the 1st of May.
On the 2nd of August, jobs and unemployment reports were bad resulting further decline.
From that day, stocks and cryptocurrencies printed red for 3 days.
Nikkei 225 crossed the worst decline since 1987!
Bitcoin dumped around $22K in a week!
To protect your assets from such similar scenarios, stake more, don't invest more than 20%, diversify your assets and take profits as soon as possible.
#MarketDown
Bitcoin reached $70K on 29th of July and went to too low levels.
After the FOMC decision to keep interest rates, market reacted negatively same to the 1st of May.
On the 2nd of August, jobs and unemployment reports were bad resulting further decline.
From that day, stocks and cryptocurrencies printed red for 3 days.
Nikkei 225 crossed the worst decline since 1987!
Bitcoin dumped around $22K in a week!
To protect your assets from such similar scenarios, stake more, don't invest more than 20%, diversify your assets and take profits as soon as possible.
#MarketDown
#Write2earn
Bitcoin Plunges Amid Asian Market Chaos
#CryptoMarket #Bitcoin #Ethereum #MarketDown
$BTC $ETH
Bitcoin (BTC) nosedived over 3% early Thursday as Asian markets suffered a broader stock market downturn and weakening sentiment for risk assets like cryptocurrencies. BTC fell from over $65,500 to nearly $64,000 within minutes during Tokyo trading.
Massive Liquidations
This sudden plunge resulted in over $250 million in bullish bets being liquidated, marking the worst hit since early July. Liquidations happen when an exchange forcefully closes a traderâs leveraged position due to a partial or total loss of the traderâs initial margin. This data indicates leverage being flushed out from popular futures products, signaling a potential short-term decline in price volatility.
Ether Also Hit Hard
Ether (ETH) longs lost the most, with $100 million liquidated following a 7.5% slump in the token amid outflows from the newly launched ETH ETF.
Major Exchanges Affected
Binance recorded the highest liquidations among exchanges at $118 million, with 88% being long trades. OKX and Huobi, popular among Asia-based traders, saw as much as 94% of long trades on their platforms liquidated.
Impact of U.S. Tech Stocks
The dive in cryptocurrency prices coincided with a significant drop in U.S. technology stocks on Wednesday. The tech-heavy Nasdaq 100 index lost 660 points, its biggest drop since 2022. Mixed quarterly earnings from Alphabet (GOOG) and Tesla (TSLA) led to their shares falling as much as 12%. The "Magnificent 7" tech stocks collectively lost over $750 billion in market cap, the most on record for the group.
Asian Market Response
Losses spread to Asian markets early Thursday, with Japanâs Nikkei 225 slumping more than 3% amid concerns that the Bank of Japan could hike interest rates.
Bitcoin Plunges Amid Asian Market Chaos
#CryptoMarket #Bitcoin #Ethereum #MarketDown
$BTC $ETH
Bitcoin (BTC) nosedived over 3% early Thursday as Asian markets suffered a broader stock market downturn and weakening sentiment for risk assets like cryptocurrencies. BTC fell from over $65,500 to nearly $64,000 within minutes during Tokyo trading.
Massive Liquidations
This sudden plunge resulted in over $250 million in bullish bets being liquidated, marking the worst hit since early July. Liquidations happen when an exchange forcefully closes a traderâs leveraged position due to a partial or total loss of the traderâs initial margin. This data indicates leverage being flushed out from popular futures products, signaling a potential short-term decline in price volatility.
Ether Also Hit Hard
Ether (ETH) longs lost the most, with $100 million liquidated following a 7.5% slump in the token amid outflows from the newly launched ETH ETF.
Major Exchanges Affected
Binance recorded the highest liquidations among exchanges at $118 million, with 88% being long trades. OKX and Huobi, popular among Asia-based traders, saw as much as 94% of long trades on their platforms liquidated.
Impact of U.S. Tech Stocks
The dive in cryptocurrency prices coincided with a significant drop in U.S. technology stocks on Wednesday. The tech-heavy Nasdaq 100 index lost 660 points, its biggest drop since 2022. Mixed quarterly earnings from Alphabet (GOOG) and Tesla (TSLA) led to their shares falling as much as 12%. The "Magnificent 7" tech stocks collectively lost over $750 billion in market cap, the most on record for the group.
Asian Market Response
Losses spread to Asian markets early Thursday, with Japanâs Nikkei 225 slumping more than 3% amid concerns that the Bank of Japan could hike interest rates.
Most likely A recession will come at lately 2024, right after US starts cutting rate.
But historically there were sometimes late pumps (BlowOffTop) before a huge crash (delayed).
Sometimes It crashed straightly right after US starts cutting rate
#Reccesion #MarketCrashed #BitcoinDump #MarketDown
But historically there were sometimes late pumps (BlowOffTop) before a huge crash (delayed).
Sometimes It crashed straightly right after US starts cutting rate
#Reccesion #MarketCrashed #BitcoinDump #MarketDown
