Crash

Ethereum

bullish

Bitcoin

Drops

<p>The post <a href="https://coinpedia.org/news/bitcoin-price-crash-btc-price-drops-to-52k-amid-stock-market-crash/">Bitcoin Price Crash: BTC Price Drops To $52K Amid Stock Market Crash</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The total crypto market cap slipped below $2 trillion for the first time since the bullish breakout in February. Bitcoin’s (<a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) price dropped more than 10 percent in the last 24 hours to trade at about $54,425 on Monday during the early Asian session. The altcoin industry – led by Ethereum (<a href="https://markets.coinpedia.org/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>), Solana (<a href="https://markets.coinpedia.org/solana/" target="_blank" rel="noreferrer noopener">SOL</a>), BNB, and XRP – registered a double-digit percentage loss.</p> 
<p>As a result, more than $808 million was liquidated from the crypto industry in the past 24 hours, mostly involving long traders.&nbsp;</p> 
<p>Ethereum led in crypto liquidations, with nearly $300 million rekt in the past 24 hours, while the Bitcoin market registered around $239 million.</p> 
<h2 class="wp-block-heading" id="h-bitcoin-joins-stock-markets-in-capitulation-nbsp">Bitcoin Joins Stock Markets in Capitulation&nbsp;</h2> 
<p>After the major stock indexes liquidated significantly on Friday, the fear of further capitulation escalated and impacted the crypto industry. Legendary stock market trader Warren Buffett offloaded a major investment from Apple Inc. and now holds a whopping $277 billion in cash.</p> 
<p>Japan’s Topix and Nikkei indexes tumbled more than 20 percent from July peaks, thus signaling further market strains.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Bitcoin Fear and Greed Index is 26 — Fear<br>Current price: $58,110 <a href="https://t.co/ZsB4p6MEix">pic.twitter.com/ZsB4p6MEix</a></p>— Bitcoin Fear and Greed Index (@BitcoinFear) <a href="https://twitter.com/BitcoinFear/status/1820248371115827596?ref_src=twsrc%5Etfw">August 5, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Consequently, Bitcoin’s fear and greed index dropped to 26 percent—denoting fear—up from 74 percent—greed—last week. Furthermore, the US-based <a href="https://markets.coinpedia.org/bitcoin-etf/" target="_blank" rel="noreferrer noopener">spot Bitcoin ETFs</a> registered a net cash outflow of about $237 million on Friday.</p> 
<h2 class="wp-block-heading" id="h-what-next">What Next?</h2> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Historically, August and September are the worst months for <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> price performance, with average losses of -7.82% and -5.58%, respectively. <a href="https://t.co/y9lGeHcFf1">pic.twitter.com/y9lGeHcFf1</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1820157251069329547?ref_src=twsrc%5Etfw">August 4, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Amid the ongoing crypto capitulation, Bitcoin’s dominance rallied to around 57.79 percent, the highest level since May 2021. According to market analysts, the crypto capitulation could continue in the coming two months before an anticipated rebound in the fourth quarter.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="pl" dir="ltr"><a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> CME , hehe.. <a href="https://t.co/WrWza8REkH">https://t.co/WrWza8REkH</a> <a href="https://t.co/EFX3lN7lnf">pic.twitter.com/EFX3lN7lnf</a></p>— ᴀʟᴛꜱᴛʀᴇᴇᴛ ʙᴇᴛꜱ (@AltstreetBet) <a href="https://twitter.com/AltstreetBet/status/1820263983804227733?ref_src=twsrc%5Etfw">August 5, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>From a technical standpoint, <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">Bitcoin price</a> could further drop to the support range between $47k and $50k in the coming weeks. Furthermore, Bitcoin price on the weekly time frame has seen the Relative Strength Index (RSI) consistently close below the 50 percent level, indicating more pain ahead.</p> 
<p>Also Check Out: <a href="https://coinpedia.org/news/crypto-bloodbath-why-is-crypto-crashing-right-now/" target="_blank" rel="noreferrer noopener">Crypto Bloodbath: Why Is Crypto Crashing Right Now?</a></p>

Bitcoin Price Crash: BTC Price Drops To $52K Amid Stock Market Crash

Table of Contents

CoinPedia News

Other articles published on Aug 5, 2024

Chainlink Proof of Reserve Now Backs 21Shares Core Ethereum ETF

Over $1B wiped out in crypto liquidations as global markets suffer

Fed Member Goolsbee Comments on Economic Conditions

Ethereum Plummets 8.5% Following ETF Outflows: Analyzing the Market Reaction

Crypto Volatility: Economic Factors that Could Amplify Downturns

Pepe Crashes Nearly 26%: Further Downfall Or A Recovery Ahead?

Join our free newsletter for daily crypto updates!