**Latest cryptocurrency market news on August 6, 2024:**

1. **Bitcoin price plummets**: Bitcoin price fell to about $56,126, and market risk aversion increased. The price of ETH also fell to about $2,519, and the overall market sentiment was biased toward panic [[❞]](https://cryptonews.com/news/august-2024-crypto-picks-amid-eth-etfs-buzz-notcoin-bonk- and-dtx-exchange.htm) [[❞]](https://cointelegraph.com/category/latest-news).

2. **Cathie Wood’s ARK Invest**: ARK Invest resumed buying Coinbase stock, purchasing 28,632 shares worth approximately $5.4 million, showing long-term confidence in the cryptocurrency market [[❞]](https:// cointelegraph.com/category/latest-news).

3. **UK New Proposal**: The UK Law Commission recommends reclassifying crypto assets to address loopholes in existing laws, which could have a significant impact on the legal status of the crypto market [[❞]](https://cointelegraph . com/category/latest-news).

These messages demonstrate the current market volatility and changes in the regulatory environment, and investors should pay close attention to market trends.