Aurelia Butler

The selloff marks a stunning reversal just days after optimism fueled by Republican presidential candidate Donald Trump’s speech pushed bitcoin, the world’s biggest cryptocurrency, over the $70,000 mark for the first time in more than a month. Crypto markets have gotten a boost this year after the U.S. Securities and Exchange Commission approved exchange-traded funds to track the spot prices of bitcoin and ether.More recently, however, the currencies have tumbled alongside other assets including global equities, as investors fear a U.S. recession could be on the horizon, with rising geopolitical worries also weighing. Bitcoin has lost over a third of its value since hitting a record high in March. The increasing correlation with equities has also undermined its reputation as a safe-haven asset. “It’s a big reminder that bitcoin and crypto in general are risk assets and sit at the pointy end of the risk spectrum,” said Tony Sycamore, market analyst at IG.Bitcoin fell 12% to $52,054, heading for its largest one-day fall since November 2022. Ether slid as much as 21% to its lowest since January.Sycamore said bitcoin was testing trend channel support at the $54,000/$53,000 area and needed to hold there to “prevent further capitulation towards $48,000.”Shares in crypto-related U.S. stocks also plunged before the open on Monday. Miners CleanSpark (NASDAQ:CLSK), Bitfarms, Riot Platforms (NASDAQ:RIOT) and Marathon Digital (NASDAQ:MARA) slumped between 12% and 18%. Coinbase (NASDAQ:COIN) shares lost 10%, while bitcoin buyer MicroStrategy slipped nearly 15%. More

In the dynamic world of cryptocurrency, a new meme coin, $JOSE, is set to make its mark with a unique total supply of only 21 million tokens. Built on a foundation of transparency, investor safety, and led by a publicly doxxed project owner, BA Davidson, $JOSE is offering a rare and innovative entry into the meme coin market. $JOSE: A Community-Driven Initiative Set to Influence the Crypto SpaceBuilt on the Solana network, $JOSE aims to offer a stable and long-term presence in the cryptocurrency space. With a focus on a community-driven approach, where investors’ voices are not only heard but acted upon, and a meme-inspired character, $JOSE is designed to appeal to a broad audience. Key Details of the $JOSE Pre-SaleTo kick off the presale, the $JOSE team has locked an astounding 6,814,450 tokens for 100 years, significantly reducing the available supply from its initial 21 million tokens. At a presale price of 0.000394 SOL, investors are offered a significant discount, with the subsequent launch price set at 0.000526 SOL. To ensure security and investor confidence, $JOSE has partnered with Pinksale and completed an audit and KYC process. Additionally, 75% of team tokens have been locked, with 50% of those locked until March 2025. Following the presale, the token will be auto-listed on Raydium, allowing investors to claim their tokens in full without a vesting period directly on the Pinksale website. Purchase limits are set between a minimum of 0.01 SOL and a maximum of 20 SOL to prevent large investors from dominating the market. The Vision for $JOSEJose has been built for longevity rather than a flash in the pan. With a large pool of 1.5 million $JOSE Tokens for community rewards, including 1.2 million tokens set aside to burn 100K tokens monthly, the team is committed to creating and selling NFTs and merchandise. The Jose Store on the project’s website features over 160 different products, ranging from clothing and travel accessories to household goods and back-to-school items. A portion of the profits from these sales will be used to purchase JOSE tokens for the purpose of burning them, further reducing the supply. This deflationary asset aims to position Jose as the Bitcoin of meme coins, moving in dollars instead of fractions of a cent. How to Join the Jose Community and Participate in the Community RewardsThe $JOSE team is fostering a vibrant international community where members can impact decisions, receive real-time updates, and participate in community reward events leading up to the launch. Interested investors can join the presale by visiting Jose Presale. To learn more about the project and explore the Jose Store JoseCoin.Fun. To become a part of the community on X @TheJoseCoin and Telegram t.me/TheJoseCoin. About Jose TokenJose Token was born from a bold experiment in decentralization, spearheaded by a diverse, international team committed to creating a meme coin with complete transparency and accountability. Their mission is to blend community-driven enthusiasm with cutting-edge AI technology, offering investors a unique opportunity for growth. Jose Token values inclusivity, innovation, and transparency, ensuring that every investor’s voice shapes the future of JOSE. With a capped supply of 21 million tokens and a strategic presale, Jose Token seeks to deliver significant potential returns and foster a vibrant, engaged community. ContactProject OwnerBA DavidsonThe Jose [email protected] article was originally published on Chainwire More

Bitcoin’s price dipped below $50,000 for the first time since February, reaching a low of $49,351 before making a recovery to around $51,000. As a result, the original coin’s dominance rose to 58% as both the altcoin and stock markets collapsed, wiping out over 17% of the total cryptocurrency market capitalization. The total market cap, which stood at roughly $2.16 trillion last month, fell to around $1.76 trillion as of writing.”The sudden move downwards in Crypto prices since the start of August was something our Algorithm anticipated, moving from a bullish stance of BTC and ETH to a bearish one,” said Tom Cohen, Head Trader at Algoz Technologies.”Fed Chairman Jerome Powell signalled that rate cuts are coming, normally good news but the market interpreted this, on the back of weak economic data, as the US slipping into recession and traditional markets are now looking at big losses today.”Some crypto experts predict that the recent declines in Bitcoin’s price could be the beginning of a more dramatic fall, citing a looming economic storm and a decoupling of cryptocurrency from the broader stock market.Tristan Dickinson, CMO exSat Network, told Investing.com that Bitcoin isn’t immune to global macro events. “The capitulation of Japanese markets (Nikkei down by 12%) has combined with poor performance of the Dow Jones, S&P 500, Nasdaq and extends a broader sentiment of global fears of recession.”Tristan believes that “pullbacks are inevitable,” and if Bitcoin is able to hold above 50k then this could usher in the start of a bull market. “But caution is needed, August and September are historically poor months, so expect sideways action and further testing of Bitcoin support levels,” he added.Ethereum also plummeted, losing almost 25% of its value in just two hours, its worst single-day hit since May 2021. At the time of writing, ETH was trading at around $2,190, recovering from a low of $2,170 earlier in the day. Binance Coin and XRP saw declines of more than 10%.The sell-off only got worse on rumors of a major crypto market maker liquidating assets after massive Ether transfers to centralized exchanges.The panic selling in Bitcoin and the overall crypto market was spurred by a broader fall in financial markets due to fears of a global recession and rising tensions in the Middle East. Japan’s Nikkei 225 Index dropped 12.4%, the Stoxx Europe 600 Index fell 2.8%, and micro futures on the S&P 500 Index lost by 2.9%.Solana and Dogecoin were the biggest losers among the top 10 cryptocurrencies by market cap. Solana fell nearly 28% over the past week to $133, while Dogecoin dropped about 23% to just under $0.10.The latest wave of market declines was worsened by a disappointing U.S. jobs report on Friday. This report triggered fears of a recession, impacting the stock market before the weekend. More