Bitcoin
2024 - 8 - 4Crypto Meltdown: Bitcoin and Ether Hit Multi-Month Lows Amid Market Tumult!
btc -- btc price Bitcoin - cryptocurrencies - Ethereum - leveraged positions - market selloff - Michigan pension fund - recession fears - btc - btc priceCrypto chaos! 😱 Bitcoin and Ethereum nosedive to multi-month lows. Is the party over or just getting started? 🚀💥
The crypto market took a brutal hit as over $270 billion in value evaporated, leaving Bitcoin and Ether in shambles. The steep drop sent shockwaves through investors, sparking a mass exodus from risky assets. What’s causing the crypto commotion? Fears of a looming U.S. recession and a slew of soft economic data had investors hitting the panic button.
As markets worldwide reacted to the downturn, Bitcoin and Ether experienced a dismal start to the week. On Monday, Bitcoin crashed to multi-month lows, while Ether took an equally devastating hit. The gloomy sentiment rippled through financial markets, and cryptocurrencies, known for their volatility, were at the forefront of the selloff.
Notably, Bitcoin tumbled to a staggering $53,000, erasing $600 million in leveraged long positions in a heartbeat. Ether was not far behind, enduring one of its worst declines since 2021. It seems investor confidence in these digital assets is on shaky ground, pushing more people to rethink their crypto investments.
Meanwhile, Japanese markets weren’t spared either. The Nikkei Index plummeted by another 6%, contributing to a three-day nosedive of 15%. This extended selloff indicates a broader market turmoil, with little signs of relief in sight for high-risk assets.
Did you know? Despite the bearish trend, Bitcoin remains one of the most widely adopted cryptocurrencies worldwide, used by millions for transactions and as a store of value. And get this, the mysterious creator of Bitcoin, known as Satoshi Nakamoto, holds about 1 million Bitcoins, making him (or her—no one knows) one of the richest individuals on the planet!
In contrast, Ethereum, the second-largest cryptocurrency, isn’t just about digital money. Its blockchain serves as the backbone for decentralized applications (dApps) and smart contracts—revolutionizing everything from finance to real estate. It’s a rollercoaster ride, but for some, the future of finance is worth the ups and downs.
Crypto selloff wipes out $270 billion in value as bitcoin, ether plunge (CNBC)
Bitcoin and ethereum suffered steep drops on Sunday as investors sold out of risky assets.
Bitcoin, ether sink to multi-month lows as recession worries take hold (Reuters)
Bitcoin and ether tumbled on Monday to multi-month lows as worries over a possible U.S. recession in the wake of soft data gripped financial markets and ...
Watch These Key Bitcoin Price Levels as Investors Abandon Risk ... (Investopedia)
Bitcoin selling continued over the weekend and into Monday's Asian session, after the cryptocurrency plummeted nearly 15% last week as investors abandoned ...
Bitcoin Tumbles to $53K, Ether Turns Negative for 2024 as Panic ... (Coindesk)
Japan's Nikkei fell more than another 6% early Monday, bringing that index's three-day decline to about 15%.
Bitcoin crashes below $53K wiping out $600M in leveraged longs (Cointelegraph)
A sudden crypto market nosedive has seen over $600 million in leveraged long positions wiped out, as Bitcoin, Ether and otther cryptocurrencies tumbled ...
Bitcoin Plunges, Ether Has Worst Drop Since 2021 as Crypto Sinks (Yahoo Finance)
(Bloomberg) -- Cryptocurrencies reeled from a bout of risk aversion in global markets on Monday, at one point sending Bitcoin down more than 10% and ...
Market Mayhem: Bitcoin Crashes Below $59K, $223M in ... (Bitcoin News)
The price of bitcoin (BTC) fell below the $59000 threshold on Sunday afternoon, hitting a low of $58080 per unit.
Bitcoin Continues to Bleed, Falls Below $50K (Coindesk)
The sell-off in bitcoin and the overall crypto market has been triggered by a wider fall in the financial markets as the fears of global recession and rising ...
Bitcoin, ether sink to multi-month lows as recession worries take hold (Yahoo Finance)
Crypto markets have gotten a boost this year after the U.S. Securities and Exchange Commission approved an exchange-traded fund to track the spot price of ...
Bitcoin Rout Worsens - Altcoins Collapse - Brave New Coin (Brave New Coin)
Bitcoin continued it's no good, very bad week, plunging below $60000, hitting a low of $54640 on sunday. The market-wide sell-off is now into its fourth day ...
Bitcoin price plunges and ether has worst drop since 2021 (Fortune)
Bitcoin price plunges and ether has worst drop since 2021 ... Bitcoin price chart showing a decline in the price of BTC on August 5, 2024. Bitcoin dipped briefly ...
Bitcoin Plummets to $50000, Over $1 Billion in Leveraged Positions ... (Yahoo News)
This sudden crash marks a significant downturn for Bitcoin, which had been trading above $60,000 just days ago. ADVERTISEMENT. Advertisement. The sharp decline ...
Bitcoin drops below $50000 for the first time since February (CNBC)
Crypto stocks Coinbase and MicroStrategy were among the hardest hit in premarket trading. Ether erased its year-to-date gain. In this article.
Bitcoin Dips Below $50K as Global Market Crashes (Bitcoin Magazine)
Bitcoin plunged below $50000 for the first time in 6 months as global markets crashed amid recession fears.
$500 Billion 'Panic Rush For Liquidity'—Price Of Bitcoin, Ethereump ... (Forbes)
As stock markets dipped on August 2 due to recession fears, crypto went into a downright freefall. Since Friday's downturn, the crypto market has experienced ...
Bitcoin Price Tumbles To Six-Month Low, Cryptocurrency Markets ... (Investor's Business Daily)
Bitcoin price unraveled 17% by early Monday, ethereum turns negative on the year. Cryptocurrencies sell off amid market downturn.
Michigan pensions to the moon? Fund dips toes in bitcoin. Will it pay ... (Detroit Free Press)
Michigan's large public pension fund put about $45 million in cryptocurrencies — and at one point nearly doubled that investment.
Bitcoin Plummets Amid Wider Market Selloff (Forbes)
Cryptocurrencies bitcoin and ethereum took a tumble on Monday, dropping to near-six-month lows and ending months of gains as investors once again turn away ...
Bitcoin and Other Cryptocurrencies Plunge, Mirroring Global Markets (The New York Times)
The precipitous falls show that digital currencies remain vulnerable to the same broader economic forces that affect technology stocks and risky ...
Crypto Stocks Slump as Bitcoin, Ether Tumble (Coindesk)
Coinbase, MicroStrategy and miners fell as equity markets declined worldwide.
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