As financial markets awoke to massive, cascading hits across the globe on Monday, multiple analysts used the same analogy to describe the downturn: a perfect storm. Analysts principally point to developments in the United States and Japan, which have coalesced to create a troubling scenario and raised fears of a global recession, triggering sell-offs across both traditional and crypto markets.…
Crypto markets are currently in the red, but the bloodshed started last week with investors pulling out over half a billion dollars from digital asset investment products like exchange-traded funds (ETFs). Prompted at least in part by fear of a recession in the United States, investors withdrew $528 million from funds that give exposure to digital currencies, a Monday report…
Over the weekend, more than $1 billion in futures positions were liquidated from the crypto markets as fears of a looming recession intensified. Source: https://cointelegraph.com/news/justin-sun-denies-liquidation-rumors-market-turmoil?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Global equity markets witnessed a massive sell-off, pulling Bitcoin and several major cryptocurrencies to unexpected lows. Source: https://cointelegraph.com/news/price-analysis-8-5-spx-dxy-btc-eth-bnb-sol-xrp-doge-ton-ada?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
Xapo Bank has entered the UK market, becoming the only licensed banking group to offer a combined interest-bearing USD and bitcoin account. “We’re proud to announce we have successfully passported our banking license into the UK. This means we are allowed to offer our banking services directly to the UK market,” said the CEO of […] Source: https://news.bitcoin.com/xapo-bank-enters-uk-market-offers-interest-bearing-usd-and-bitcoin-account/
Bitcoin derivatives show traders’ morale is low, weakening the odds of a 20% rise from the $49,320 BTC bottom. Source: https://cointelegraph.com/news/bitcoin-bulls-were-obliterated-but-is-it-time-to-catch-the-falling-knife?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
The price of Solana plunged Monday to its lowest price since February, falling to $110 as the network’s most popular meme coins also took a beating. U.S. recession fears alongside unwinding carry trades involving the Japanese yen have stoked a crypto-wide market route within the past week. Over the past seven days, Bitcoin’s price has dropped 20%, while Solana’s has…
99Bitcoins is making its move into tokens – but time is running out. They’ve already pulled in over $2.6 million through the presale for their new 99Bitcoins Token (99BTC). And with a Learn-to-Earn model set to debut, things could be about to get even better. 99Bitcoins Token’s Presale Deadline Looms – Last Chance to Buy […] Source: https://news.bitcoin.com/final-24-hours-of-99bitcoins-tokens-presale-underway-as-crypto-education-giant-raises-2-6m/
Jump Trading’s aggressive Ether sell-off, coinciding with Japan’s market crash, raises questions about its strategy and market exit. Source: https://cointelegraph.com/news/jump-trading-ether-dump-smart-move-trouble?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound
The narrowing Japanese “yen carry trade” has been blamed for the Aug. 5 global market downturn that sent stock markets and top cryptocurrencies like bitcoin and ethereum plunging by double-digit figures. Some experts cite the disappointing U.S. jobs data and Mt Gox-related selling as factors contributing to the decline. Nikkei Posts Worst Single-Day Loss In […] Source: https://news.bitcoin.com/yen-carry-trade-blamed-for-global-market-rout-jump-cryptos-eth-sale-worsens-ether-plunge/
