Cryptocurrency

The market is under tremendous selling pressure as a result of this wave of liquidations, which is escalating the downward trend. Liquidations totaling $356 million and $343 million were recorded for Bitcoin (BTC) and Ethereum (ETH) alone. Warren Buffett has been selling stocks at an unprecedented rate as part of a selling frenzy, which has added to the chaos. Buffett’s actions have caused investors to become extremely alarmed. He has dramatically changed his investment approach and shown a lack of faith in the state of the market, as seen by his $277 billion cash holdings. A notable move that has shocked the market is Buffett’s selling of shares in Apple (NASDAQ:AAPL), one of the most valuable companies in the world.The problems facing the cryptocurrency market are not unique. The leading stock market index, the NASDAQ, is down nearly 6.5%, indicating wider instability on the financial markets. The situation is even worse in Japan. The Nikkei 225 index has dropped more than 10%, putting Japanese stocks on course for their largest fall in more than eight years. It highlights the severity of the unexpected crash that originated in a matter of days, leading to the biggest losses in the industry since the FTX situation.With its price now down into the $50,000-$60,000 range, Bitcoin is holding onto the crucial $50,000 support level, which has already been broken. This breach suggests that the bull run may be coming to an end, which is concerning, due to the lack of returns we saw this cycle. Ethereum is having similar difficulties as a result of institutional investors selling off large amounts of their ETH holdings.This article was originally published on U.Today More

In the ever-evolving world of cryptocurrency, security is the backbone of user confidence and investment safety. Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is proud to announce its latest upgrade in security measures. This upgrade has been rigorously verified by blockchain auditor CertiK, making Bybit the safest option for trading and exploring Web3 via the Bybit Wallet. This comprehensive security enhancement will address any issues new users may face when using blockchain for the first time. It includes around-the-clock automatic emergency response systems, biometric verification, and additional checks for high-value transactions to prevent unauthorized transactions.One-Click Account Freeze: Users can immediately freeze their accounts if they perceive any risk, enhancing protection against unauthorized access. This feature ensures that users have full control over their account security in any situation.Enhanced Security for High-Value Transactions: Bybit implements additional verification measures for large transactions, ensuring each significant transaction is secure and reliable. This step is crucial in maintaining the integrity of high-value trades and protecting user assets from unauthorized access.AI-Based Security Enhancements: Bybit has integrated advanced AI technology for live face detection and virtual camera identification, ensuring that the person accessing the account is its rightful owner. These measures prevent AI-based face-swapping frauds and effectively identify virtual cameras, reducing fraud risks and enhancing user security.User Security Enhancements: Strengthen Risk Control Methods: At Bybit, user security and experience are paramount. Bybit dedicates extensive efforts to ensure the safety of its users’ assets, including around-the-clock automatic emergency response systems, ensuring rapid response to safeguard accounts.Dive Deeper with Bybit’s AMAWant to learn more about these exciting security updates and how they can benefit you? Join Bybit for a live Ask Me Anything (AMA) session on Tuesday, August 6th. Our security experts will be on hand to answer your questions and discuss Bybit’s commitment to user safety. Don’t miss this opportunity to gain insights and enhance your understanding of Bybit’s latest security features.Users can click here to join the AMA: Link to Bybit’s AMA on Twitter SpacesBybit’s initiative to elevate its security is a testament to its industry leadership and proactive approach to ensure its 37 million users experience the best safety and security. Integrating these security enhancements fortifies user accounts against potential threats and underscores Bybit’s role as a trailblazer in the crypto exchange landscape.About BybitBybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 37 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle (NYSE:ORCL) Red Bull Racing team.For more details about Bybit, users can visit Bybit Press. For media inquiries, users can contact: [email protected] more information, users can visit: https://www.bybit.comFor updates, users can follow: Bybit’s Communities and Social MediaContactHead of PRTony [email protected] article was originally published on Chainwire More

What is certain, however, is the question of what’s next. To answer that question, Peter Brandt, a legendary trader who has been in the market since the 1970s, has issued a new Bitcoin price update. However, the outlook is based on a comparison between BTC and gold.As many may know, cryptocurrencies are now perceived by many as a store of value, even dubbed Gold 2.0. Thus, Brandt reports that at current levels, Bitcoin could fall significantly against gold, by 39%, without undermining its long-term bullish outlook against gold. Meanwhile, the long-term chart shows that the cryptocurrency could rise by more than 477%, highlighting its potential for significant upside. “I believe in owning both gold and Bitcoin,” Brandt himself concludes.This article was originally published on U.Today More

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

Bitcoin is holding onto the $60,000 level, which is a significant psychological and technical support level, according to the daily BTC/USD chart. The picture that the moving averages present is unsettling. If this is broken, there could be a significant decline. A look at volume indicates more trading activity, particularly on the days when Bitcoin crossed the $60,000 threshold.This volume spike indicates increased selling pressure, which could be a sign that investors are liquidating their holdings due to concerns that the bull market is ending. For Bitcoin, the $60,000 mark has been a pillar of support, and its breach indicates possible additional drops.Such breaches have historically exacerbated the downward trend by causing panic selling. The next important support level is at $58,000, but if it is broken, there may be a more severe decline in Bitcoin, possibly testing the $55,000 mark.The general outlook for the market is gloomy, with many investors doubting whether the bull run can continue. The selling pressure is increased by the apparent reduction in holdings by institutional investors, who have been a major factor in Bitcoin’s rally.As can be seen from the daily XRP/USDT chart, XRP is presently resting on the 200-day EMA (black line). This support level is significant because it frequently denotes a turning point in price corrections that may lead to a possible rebound. As seen by the unsuccessful breakout from the descending triangle pattern, XRP’s recent performance however points to strong resistance near the $0.65 mark.Since then, the price has dropped again, emphasizing the market’s general bearish mood. Volume analysis indicates a decrease in trading activity, which suggests a decrease in investor interest. Although XRP appears to be lacking momentum, the relative strength index (RSI) is circling 45, indicating that it is neither overbought or oversold.A possible upward reversal could find support at the 200-day EMA notwithstanding the bearish signals. XRP may see a brief uptick if buying pressure picks up at this point. An encouraging sign to keep an eye out for could be a golden cross in which the 200-day EMA crosses above the 50-day EMA.Usually interpreted as a bullish signal, this event may draw in additional buyers and result in a longer-lasting upward trend. Market sentiment is still cautious right now. Lower trading volume and liquidity across the board in the cryptocurrency space have hurt XRP’s chances of making a significant comeback. Due to likely broader economic uncertainties, institutional interest appears muted and retail investors are hesitant.Solana had risen sharply, reaching its zenith in the first part of July. Nevertheless, the asset has been declining ever since. The price dropped significantly, wiping out the majority of its prior gains from a high of about $175 to its current level of about $144.This bearish sentiment is reflected in key technical indicators. An indication of a momentum loss is the breach of the 50-day EMA. SOL is currently testing the 200-day EMA, a crucial support level. A violation of the aforementioned support could result in even bigger drops. With the RSI circling 36, SOL is getting close to the oversold area. Although this could point to the possibility of a quick recovery, the general outlook for the market is still negative.Solana’s decline has been aggravated by major challenges facing the cryptocurrency market as a whole. Growing selling pressure is a result of institutional investors appearing to be retreating. The price decline is consistent with a spike in selling activity as indicated by the volume analysis. The next support level could be much lower if the 200-day EMA is broken, which could result in further losses.This article was originally published on U.Today More

The move downwards pushed Bitcoin’s market cap down to $1,105.9B, or 56.04% of the total cryptocurrency market cap. At its highest, Bitcoin’s market cap was $1,435.8B.Bitcoin had traded in a range of $52,956.1 to $58,291.4 in the previous twenty-four hours.Over the past seven days, Bitcoin has seen a drop in value, as it lost 18.43%. The volume of Bitcoin traded in the twenty-four hours to time of writing was $35.1B or 41.63% of the total volume of all cryptocurrencies. It has traded in a range of $52,956.0898 to $66,998.3047 in the past 7 days.At its current price, Bitcoin is still down 27.75% from its all-time high of $73,740.90 set on March 14.Ethereum was last at $2,201.12 on the Investing.com Index, down 24.47% on the day.Tether USDt was trading at $0.9997 on the Investing.com Index, a gain of 0.01%.Ethereum’s market cap was last at $301.1B or 15.26% of the total cryptocurrency market cap, while Tether USDt’s market cap totaled $114.5B or 5.80% of the total cryptocurrency market value. More