đšWas Warren Buffett Right? 5 Things to Know in Bitcoin This Weekđš
Bitcoin ($BTC ) starts August with a shock as global stock markets experience a record-breaking correction. Hereâs what you need to know:
1. Bitcoin Plummets đ
- BTC/USD hits its lowest levels since February, down nearly $18,000 in days.
- The sudden downturn has liquidated long positions worth hundreds of millions.
2. Altcoins Hit Harderđ„
- Ether ($ETH ) is down nearly 40%.
- The combined crypto market cap has lost over $500 billion in the last three days.
3. Stock Market Impact đ
- Major losses in Japanâs Nikkei 225 are outpacing Bitcoinâs decline.
- Nvidiaâs stock has fallen 30%, erasing $1.2 trillion in market cap.
4. Federal Reserve MovesđŠ
- Panic selling has increased pressure on the Fed to intervene.
- A 0.5% rate cut is now seen as likely at the Fedâs emergency meeting on August 5.
5. Investor Sentimentđš
- Crypto Fear & Greed Index is back to âextreme fear.â
- Discussions about buying are not as high as expected, indicating potential for more volatility.
Whatâs Next?đź
Bitcoinâs recent crash has many questioning where the bottom lies. With global markets in turmoil and recession fears looming, all eyes are on the Fedâs next move. Will Bitcoin rebound or fall further? Stay tuned as the market unfolds.
đ How are you navigating the current market? Share your thoughts below!đ