Daily CRYPTO NEWS recapđđ„ - 6th of September 2024
Crypto Market Plunges into 'Extreme Fear';
Bitcoin Slips Below $55,000 and Continues to Go Down;
Durov Breaks Silence with First Public Statement Since Arrest.
âąCrypto sentiment has dropped to a monthly low following another significant Bitcoin pullback. The Crypto Fear & Greed Index, a trusted indicator of market emotions, fell to 22 today, signalling widespread fear. The last time it hit a such low level (17), Bitcoin dropped to $49,000. With as terrible sentiment low, $BTC may see further declines in the coming days.
âąToday, Bitcoin fell below $55,000 as the downtrend continues, but why? A key reason could be historical data, showing September is typically a red month for crypto. Another factor is the Fear & Greed Index dropping into Extreme Fear. Lastly, in recent days we experienced many market sales by various governments. This decline may last 2-3 more weeks, presenting a chance to accumulate BTC in good price.
âąTelegram and $TON founder Pavel Durov was arrested in France on August 24 for allegedly failing to cooperate with authorities. After posting $5.5 million in bail, he was released but remains under court monitoring, unable to leave the country. In his first statement since the arrest, Durov expressed surprise, noting that Telegram has a legal representative in France. He also criticized the government's handling of the situation, emphasizing that, as a French citizen, authorities had numerous other ways to contact him.
Stay tuned for more updates from MarMag! New posts coming soon :))
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