The crypto universe has concluded another week with remarkable developments unfolding across the broader market. Amid the ongoing U.S. presidential election buzz, the cryptocurrency prices witnessed quite the volatility. Bitcoin slipped from a $68K level to a slumping $60K low over the past seven days. Meanwhile, the altcoin market has mainly followed this turbulent movement.
Here’s a collection of some of the hot crypto market updates reported over the past week.
<h2 id="crypto-market-tackles-turbulence">Crypto Market Tackles Turbulence</h2>
Notably, recent economic events have presented the flagship crypto with quite the uncertainty. This week saw the <a href="https://coingape.com/us-fed-meeting-expectations-no-rate-cut-expected-in-july-fomc-whats-next/" target="_blank" rel="noopener noreferrer nofollow">Federal Reserve</a> keeping the interest rates unchanged once again, raising investor concerns while also impacting markets.
Moreover, the release of <a href="https://coingape.com/bitcoin-reclaims-64k-as-us-job-data-teases-fed-dovish-stance/" target="_blank" rel="noopener noreferrer nofollow">U.S. jobs data</a> has brought further volatility to the broader industry. The U.S. unemployment rate came in hot at 4.3% for July, crossing expected 4.1%. Further, the <a href="https://coingape.com/crypto-market-crash-5-reasons-why-bitcoin-altcoins-dropping-today/" target="_blank" rel="noopener noreferrer nofollow">nonfarm payrolls</a> unveiled that only 114,000 jobs were added in July. Collectively, these macroeconomic factors appear to have impacted the cryptocurrency prices this week.
Meanwhile, <a href="https://coingape.com/bitcoin-options-37000-contracts-expiring-on-august-2-amid-btc-volatility/#:~:text=BTC%20Liquidations%20Before%20Options%20Expiry,in%20the%20leveraged%20long%20positions." target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> bore the brunt of massive liquidations amid its price volatility. Also, Fidelity International launched a <a href="https://coingape.com/fidelity-launches-bitcoin-etp-on-london-stock-exchange/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETP</a> on the LSE (London Stock Exchange).
Also Read: <a href="https://coingape.com/terra-luna-classic-votes-on-major-tax2gas-proposal-lunc-to-0-0001/" target="_blank" rel="noopener noreferrer nofollow">Terra LUNA Classic Votes On Major Tax2Gas Proposal, LUNC To $0.0001?</a>
<h2 id="trump-vs-harris-saga">Trump Vs. Harris Saga</h2>
In the interim, this week saw noteworthy developments in the ongoing rivalry between Republican Donald Trump and Democratic Kamala Harris. Notably, <a href="https://coingape.com/kamala-harris-campaign-makes-first-move-for-pro-crypto-shift/" target="_blank" rel="noopener noreferrer nofollow">Harris</a>‘ rebranded approach as a crypto-friendly candidate appears to have garnered significant attention among market participants. Subsequently, the Vice President’s winning odds also gained considerable weight.
Nonetheless, <a href="https://coingape.com/pro-bitcoin-donald-trump-agrees-to-debate-kamala-harris-on-this-date/" target="_blank" rel="noopener noreferrer nofollow">Donald Trump</a> has finally agreed to debate with Kamala Harris on Fox News. The debate is set to take place on September 4 and could bring a paradigm shift in the presidential candidates’ winning odds. Also, <a href="https://coingape.com/donald-trump-jr-challenges-kamala-harris-to-debate-on-fox-news/" target="_blank" rel="noopener noreferrer nofollow">Donald Trump Jr.</a> has taken the stage to challenge Harris to debate his father on Fox News.
Additionally, this week saw Trump launching Bitcoin-themed sneakers as a part of his 2024 presidential election campaign. It’s also worth noting that the Republican bagged noteworthy amounts of BTC in the Bitcoin conference.
Other news from around the globe included <a href="https://coingape.com/wazirx-hack-update-exchange-scraps-plan-to-distribute-loss-among-users/" target="_blank" rel="noopener noreferrer nofollow">WazirX</a>‘s 55/44 approach facing backlash from the community. Moreover, Cathie Wood’s Ark Invest initiated a colossal COIN stock selloff amid Coinbase Q2 earnings.
Also Read: <a href="https://coingape.com/riot-exec-reveals-how-bitcoin-strategic-reserve-can-aid-us-economy/" target="_blank" rel="noopener noreferrer nofollow">Riot Exec Reveals How Bitcoin Strategic Reserve Can Aid US Economy</a>
The post <a href="https://coingape.com/trending-crypto-updates-for-this-week/" rel="noopener noreferrer nofollow">Trending Crypto Updates For This Week</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Trending Crypto Updates For This Week

Table of Contents

Coingape News Media

Other articles published on Aug 4, 2024

Neiro Ethereum Price Prediction: NEIRO Plunges 17% As Pepe Unchained ICO Rockets Past $7.2 Millio...

Bitcoin: 14 Years Ago Today BTC Was Priced at $0.05

Toncoin (TON) Turns Green As Trust Wallet Partnership Confirmed. Will VET And Carboneers Collab B...

Ripple Introduces Webpage for RLUSD: Stablecoin Launch Date Yet Unrevealed

Algorand’s Pera Wallet Partners with Mastercard for Seamless and Instant Crypto Transactions

Snek Coin: The Viral Meme Coin Redefining Crypto Trends

Join our free newsletter for daily crypto updates!