Category: Crypto News

Nassim Taleb recently criticized Bitcoin’s effectiveness as a hedge against market downturns, noting its volatility and speculative nature during a sharp market decline on August 5.

Global markets plummeted on August 5, with the DOW and S&P 500 losing over 1,000 points and Bitcoin falling below $49,000. Japan’s Nikkei saw its worst drop since 1987.

Ronin Network lost $9.8 million in Ether (ETH) due to an exploit, possibly by a white hat hacker. The attack involved an MEV bot. Crypto hacks in 2024 are on the rise.

Crypto faced a severe downturn on August 5, driven by long-term leverage and a sharp rise in the Japanese yen. Markets may rebound as traders reduce their leverage and exposure.

Global equity markets faced sell-offs, sharply affecting Bitcoin. On August 5, BTC fell below $50,000. Traders question if this is a deeper correction or a relief rally.

Bitcoin faces up to two months of downward pressure before a potential bullish breakout, according to analysts. Historical trends and emerging bullish patterns offer a glimmer of hope.

Xapo Bank, based in Gibraltar, has secured a UK banking license, introducing interest-bearing accounts for both Bitcoin and fiat currencies. The move marks a significant milestone.

The recent plunge in the cryptocurrency market has been influenced by aggressive selling from Jump Trading, according to QCP Group. Ether declined over 21%, trading at $2,252.

Cryptocurrency investment products saw outflows of $528 million due to U.S. recession fears and geopolitical tensions, with Bitcoin leading at $400 million in outflows, followed by Ether.

Crypto traders faced over $1 billion in liquidations as Bitcoin, Ether, and Solana plummeted on August 5, driven by global economic issues and a crash in Japan’s stock market.