Bloodbath in the Cryptocurrency Market

📉 Bitcoin's price fell below $50,000, and Ethereum's price dropped to $2,100.

The total volume of liquidations on exchanges in a day exceeded $1 billion, with the majority being long positions in ETH and BTC.🪓

There has been a rebound now; Bitcoin is at $53,000 and Ethereum is at $2,360.

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The amount of BTC sold at a loss yesterday was comparable to the period of massive sell-offs following the mining ban in China and the collapse of the FTX exchange. 🧐

As we can see, history teaches us that people do not learn from it. 🤷

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😎Binance has $100 billion in crypto assets

Binance has seen a net inflow of $1.2 billion, CEO Richard Teng said.

This is one of the highest daily inflows in 2024, which “indicates strong investor confidence.”

It also saw one of the highest daily trading volumes since the start of the year.

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TON is being listed on Binance today!

👀 It’s strange why the exchange took so long with this listing, especially when NOT has been on Binance for three months already.

Nevertheless, the community has received this news with enthusiasm, and TON has already grown by 9% in the last 24 hours. 📈

The listing will take place at 10:00 UTC. ⏳

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The crypto market is recovering 📈

BTC is trading above $60k, and ETH above $2.6k.

Fear and Greed Index — 48 (neutral sentiment). 🧐

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Is Bitcoin Losing Its Volatility?

In 2024, there have been only 25 days with high price volatility.

In comparison, previous cycles recorded 56, 140, and 64 such days, respectively. 🧐

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The capitalization of the largest stablecoin Tether (USDT) has almost reached $115 billion

•Since the beginning of 2024, the capitalization of USDT has increased by almost $20 billion. After its fall to $66 billion in 2022, the figure has been growing almost without corrections.

•At the end of July, Tether reported record profits - for the first half of this year, the company earned $5.2 billion, and the company's consolidated capital amounted to $12 billion.

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The Fear and Greed Index has once again fallen back to the "Extreme Fear" zone. 📉

Bitcoin is trading at $58,000, and Ethereum at $2,590. 👀

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💵 USDT and USDC $53 bln per day - this is above the annual average.

The record inflow per day was recorded at the bitcoin price of $70,000, when $72 billion worth of stablecoins were deposited on exchanges.

The increase in the inflow of stablecoins directly correlates with BTC purchases, CryptQuant analysts note.

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MetaMask has announced its own crypto card. 🦊

💳 The card is developed in collaboration with Mastercard and the payment company Baanx.

The pilot launch will take place in the European Union countries and the United Kingdom, with other regions to follow later.

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The US government transferred 10,000 BTC to Coinbase Prime.

Such transfers usually indicate a sale of the asset. This could be one of the reasons for the Bitcoin price drop to $58,000. 📉

Currently, the US account holds around 202,000 BTC. 👀

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25% of all bitcoins available on the market today (worth about $300 billion) were bought at a price in the range of $58,000-$73,000 💰🧐

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🏴󠁧󠁢󠁥󠁮󠁧󠁿 14 out of 20 clubs in the English Premier League will have partnership or sponsorship agreements with cryptocurrency companies in the 2024/2025 season. ⚽️

The Premier League is the most popular sports league in the world: it is watched in 212 countries, and the potential television audience for its matches is 4.7 billion people.

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😈 Bitcoin's market capitalization has held above $1 trillion for a record 174 days.

It's time to move towards $2 trillion🤔 capitalization

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Tron has entered the top 10 largest crypto assets by market capitalization. 🚀

The token has displaced the Cardano (ADA) cryptocurrency, which has been in the top ten largest coins for years. Currently, ADA is trading 90% below its 2021 all-time high. 💰

Since the beginning of 2024, the price of the TRX token has increased by approximately 30%, while ADA has decreased by 45% over the same period. 📉

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Bitcoin could rise to $240,000 in this bull run! 🐃

👀 This is the view of renowned trader PlanB. He reached this conclusion by comparing the current growth cycle with the bull runs of 2017 and 2020/2021.📈

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$75 million has been transferred from the wallet of the bankrupt exchange Mt. Gox to an address at Bitstamp.

The wallet still holds 34,000 bitcoins worth $2 billion. The exchange's administrators have not yet made any statements regarding the movement of these coins. 🧐

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In the Bitcoin network, there was a dramatic surge in transaction fees, rising from 0.5 BTC to 60 BTC per hour! 🙀

⛰ This spike was due to transactions involving sending BTC to staking on the new Babylon protocol.

The staking capacity was capped at 1,000 BTC, which led to a temporary frenzy. Each staking transaction cost users approximately 0.05 BTC. 💰

Once the staking limit was reached, both fees and transaction volume started to normalize.

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Bitcoin Hits $65,000 Following Rate Cut Expectations 🚀

During his speech in Jackson Hole (Wyoming, USA), Fed Chair Jerome Powell stated that "the time has come for a rate cut." The pace of monetary policy easing will depend on economic indicators.

The next meeting is scheduled for September 18. Market participants are anticipating a 0.25% rate cut with a 67.5% probability, and a 0.5% cut with a 32.5% probability. 🧐

After Powell’s speech, Bitcoin experienced significant volatility. It first broke through the $62,000 level, then dropped nearly to $60,000, and subsequently made a remarkable leap to $65,000. The cryptocurrency has since corrected slightly and is currently trading around $64,000. 📈

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