✅ Сrypto market seems to be in free fall along with the US stock market, which saw a massive sell-off today. Investors are afraid of geopolitical risks and a possible recession in the U.S., so they are buying bonds and selling stocks 🔽

Daily Digest:

🔸 $2.9 trillion got wiped out from the U.S. stock market this morning

🔸 CEO of American investment management firm VanEck says Bitcoin market capitalization will be half that of gold ($350,000 price per coin) 😳

🔸 MicroStrategy said it acquired an additional 169 BTC in July for $11.4 million

🔸 US Secretary of State has issued a statement, declaring Venezuela's opposition candidate González as the true winner 🤔

🔸 Do Kwon’s extradition to the US has been rejected by Montenegro’s Appellate Court 

🔸 Fantom blockchain has rebranded to Sonic Labs

🔸 Morgan Stanley bank told its wealth advisors they can pitch spot Bitcoin ETFs

🔹 Prices:

🥇 Bitcoin - $62,333 (↓2.7%)
✨ Ethereum - $3,001 (↓4.5%)
🌡 S&P 500 - 5,346 (↓1.84%)
🕗 DXY - 103.23 (↓1.14%)
🌉 Gold - 2,442 (↓0.18%)

Traders trying to find an entry of their long position after today's sell-off 🥲

Trade, don't gamble 🙏

On average, 13/100 gamblers can leave the casino with profits, most people treat trading like gambling, and that’s why only 1% of traders can beat the market. Successful trading requires a disciplined approach, deep research, and a long-term strategy.

🎰 Gambling and trading might seem similar, but they are fundamentally different. Gambling is purely based on chance, where the odds are stacked against you, leading to a high likelihood of loss. In gambling, there's no control over the outcome, and luck is the primary factor.

🕯 Trading, on the other hand, involves informed decision-making. Successful traders rely on research, analysis, and understanding of market trends. While risk is always involved, it is a calculated risk, unlike the blind risk in gambling.

The key difference lies in mindset and strategy. Gambling is about instant gratification and quick wins, while trading requires patience and discipline. Treating trading as gambling is a fast track to losses ❗️

#trading_tips

Ethereum is currently trading at ≈ $2910 🌡

The price hit the support level, which marked the bottom 7 times in the last 6 months 🤔

The Relative Strength Index indicator is at an oversold level on 1h, 4h, and 1d timeframes.

Are you buying? Let's take a poll:

👍 — Yes, I am buying

👎 — No, waiting for a lower price

Warren Buffett sold half of his Apple holdings 🔽

Buffett's Berkshire Hathaway sold 505 million Apple shares (55.8% of their holdings) in the first half of 2024, cutting its stake to $84.2 billion.

🍏 With iPhone sales down in China and uncertainty surrounding Apple's AI strategy, this massive sell-off raises serious questions.

Interesting to see how the market will open on Monday after this news 😨

Rocket barrage fired at Israel 🇮🇱

Iron Dome intercepts rockets over the settlement of Kiryat Shmona following a large rocket barrage launched from southern Lebanon 🇱🇧

In the meantime: The US Embassy in Beirut has urged its citizens to leave Lebanon on "any available ticket" 😱

NASDAQ Composite correlates almost perfectly with Donald Trump's odds of winning the 2024 U.S. presidential election on PredictIt online prediction market starting from December 2022 👀

A reminder that you should always have some free capital to buy market dips. The image shows the altcoins with the highest % drawdown in the last 7 days 🔽

It's just the way crypto works, the market is very volatile and if you only hold altcoins, your portfolio can easily drop 25% in just one week, so you should always be prepared to dollar average your initial entries 🛒

Bitcoin just dropped below $58,000, market is crashing 📉

✅ Officials warn that it's possible Iran will attack Israel on Monday 😨

Fears of conflict in the Middle East are growing, along with fears of a U.S. recession.

The stock market is down significantly this week, and crypto is following. Bitcoin fell below $58k, and ETH almost touched $2,600 📉

Weekly news digest:

💎 Crypto

🔸 The makers of Catizen delayed the launch of their CATI token, Bybit listed the CATI token on the pre-market

🔸 Terra developers briefly halted network operations after an apparent reentrancy attack that led to $4m in loses

🔸 Tether has reported a profit of $5.2 billion for the first half of 2024 💰

🔸 Fantom blockchain has rebranded to Sonic Labs

🔸 MicroStrategy said it acquired an additional 169 BTC in July for $11.4 million

🏦 Crypto exchanges

🔸 Hong Kong’s largest online brokerage has launched Bitcoin and Ethereum trading for its 22 million customers

🔸 OKX listed pre-market futures for the Hamster Kombat token. Meanwhile, Hamster Kombat released a new whitepaper, 60% of HMSTR supply is allocated for airdrop

🔸 Gemini crypto exchange is warning that around 15,000 of its customers may have been affected by a data breach at its banking partner

💲 Finances and Economy

🔸 Consumer prices in the EU rose 2.6% in July, estimates were 2.5%

🔸 Morgan Stanley bank told its wealth advisors they can pitch spot Bitcoin ETFs

🔸 Warren Buffett sold 55.8% of his Apple stock holdings 📱

🔸 The Bank of Japan increased its key interest rate to “around 0.25%” from the previous range of 0% to 0.1%.

🔸 The Federal Open Market Committee maintained its benchmark interest rate at 5.25%-5.50%

⚖️ Law and Order

🔸 Do Kwon’s extradition to the US has been rejected by Montenegro’s Appellate Court 

🔸 Securities and Exchange Commission charged BitClout, with fraud and an unregistered securities offering

🔸 The U.S. SEC is no longer asking a court to decide and deem the tokens named in its lawsuit against Binance as securities 

🔸 Hacker from the UK was jailed for 3.5 years for stealing $900,000 worth of crypto
 
 🗣 Personalities

🔸 VanEck says Bitcoin market capitalization will be half that of gold

🔸 US Secretary of State has issued a statement, declaring Venezuela's opposition candidate González as the true winner 

🔸 Donald Trump raised $25m after his speech on Bitcoin conference in Nashville

🧪 The only two tokens in green this week:

Aave - $100.51 (↑1.4%)
WBT - $10.27 (↑0.6%)

BREAKING: BTC FALLS BELOW $55,000 📉

Ethereum trades at $2,200 🔽

Volatility is absolutely insane right now, prices are jumping up and down 5% every minute, some major liquidations are happening ⁉️

Leveraged longs just got WIPED OUT 🥴

Over $721 million in leveraged positions have been liquidated in the last 24 hours.

$375 million of that was liquidated in the last 60 minutes 😱

The perfect storm 😱

More crypto has been liquidated in the past 24 hours than on any day in the past 3 years - around $1.1 billion 🔽

• Bond traders are betting that the US economy is on the verge of recession and the Fed will need to start easing monetary policy aggressively by cutting interest rates before their next scheduled meeting.

• Ethereum fell 9.7% in just 1 minute. This price action is only possible when one entity with massive leveraged longs is being liquidated. Someone blew up.

•  Asian markets fell along with crypto. Japan's Nikkei Index just saw the largest 2-day drop since the "Black Monday" crash of 1987.

• Taiwan's stock market has suffered the worst losses since 1967.

• Indian stock market benchmark indices Nifty 50 and Sensex crashed more than 3%

• The U.S. stock market is also down. Nasdaq 100 futures dumped more than 6% and S&P 500 contracts were down more than 3%. Futures of Dow Jones plunged over 1%.

• Robinhood halted trading on its platform due to very high volatility.

BTC rebounds after the US market showed a green candle 🧪

Panic over a possible U.S. recession has caused a massive downturn in the global market, even trading platforms from Charles Schwab, Fidelity, TD Ameritrade, Vanguard, and E-Trade went down ⚠️

Rumor has it that retail investors were maliciously blocked from trading so they wouldn't crash the market even more 🤫

Such massive trading platform failures have never happened before, and some people believe that this is the owners' way of trying to keep people from selling or buying 👀

CEO of Intel has no choice but to quote the Bible after the company's stock plummeted 37% in just 2 days, after the company suspended its dividend and slashed its workforce 😱

✅ Japanese stocks had their worst day since 1987, with both the Topix and the Nikkei 225 indexes entering bear markets.

This and fears of a possible US recession sparked a sell-off in other financial markets and the crypto market as well.

Crypto has recovered a bit, at one point Bitcoin bounced 12% off the local bottom, but the market is still very red 🔽

Daily Digest:

🔸 Bond traders are betting that the Fed will need to start easing monetary policy aggressively by cutting interest rates before their next scheduled meeting

🔸  Six big trading platforms such as one from Charles Schwab, Fidelity, and Vanguard, went down altogether 🖥

🔸 A sentiment index that tracks crypto markets changed to 26 points in “fear” territory

🔸 Crypto-tracked futures saw over $1.1 billion in liquidations in the past 24 hours, over 200,000 traders were liquidated

🔸 London-based Capula Management hedge fund revealed $420 million in Bitcoin ETF investments 💰

🔸 Hacker who once exploited Nomad bridge bought $40 million worth of ETH at the bottom

🔹 Prices:

🥇 Bitcoin - $53,136 (↓10.4%)
✨ Ethereum - $2,388 (↓13.1%)
🌡 S&P 500 - 5,168 (↓3.34%)
🕗 DXY - 102.69 (↓0.50%)
🌉 Gold - 2,410 (↓1.3%)

An unusual geometric figure you won't learn about in school 🤣

Market has bounced off the bottom by somewhere around 13%. Bitcoin was trading above $56,000 in the morning but failed to hold that level, and now bulls are fighting for support at $55,000 🐂

With each day spent at these price levels, it will be more and more difficult for the market to return to the previous bullish trend with a quick V-shaped bounce ⌛️

India’s tax authorities issued a notice demanding a Goods and Services Tax (GST) payment of $86 million from Binance exchange 💸

Ronin Network, one of the most popular gaming blockchains, lost 3,996 ETH worth over $9.8 million in a potential exploit 💰

French fintech company Next Generation and Ireland electronic money institution Decta have partnered to introduce a euro-backed stablecoin. The coin will launch on the Stellar blockchain 🇪🇺

🔹 Last 24 hours top 3 gainers:

Brett - $0.093 (↑49.26%)
Bittensor - $253.01 (↑35.86%)
Ondo - $0.702 (↑35.39%)

#GM

It seems like the famous advice from Warren Buffett to “be fearful when others are greedy and to be greedy only when others are fearful” has proven to be right again 🤷‍♀️

In yesterday's market collapse around the world, retail investors were selling off stocks en masse while institutional investors were buying the dip.

JPMorgan strategists noted that the retail had $1 billion in net selling while institutional investors had $14 billion in net buying 🔎