Bitcoin

<a href="https://optimisus.com/news/crypto-news/bitcoin-falls-below-58000-as-people-fear-recession/" rel="noopener noreferrer nofollow">The price of Bitcoin (BTC) fell</a> below $50,000. It then rose above $53,000, which is the lowest level since the middle of February. Following a four-day drop, the world’s biggest crypto fell to as low as $49,112, according to data from TradingView. This means BTC fell by over 28% in the last 7 daysEther (ETH), the Ethereum blockchain’s native currency, dropped to as low as $2,060, the lowest level since January 3. With a drop of almost 25%, Ether has had its worst day since May 2021.There were reports that crypto market maker Jump Trading was selling off its assets, which caused ether prices to drop. Over $1 billion worth of crypto futures were sold during the bloodbath.Over $370 million worth of <a href="https://optimisus.com/news/crypto-news/crypto-bulls-lose-300m-as-dogecoin-and-solana-tokens-drop-by-over-15/" rel="noopener noreferrer nofollow">Ethereum</a> long positions were also liquidated. The wider drop in financial markets has caused fear of selling bitcoin and the crypto market as a whole. The Nikkei 225 Index in Japan fell 12.4%, the Stoxx Europe 600 Index fell 2.8%, and micro futures on the S&amp;P 500 Index fell 2.9%.

Bitcoin Drops to $49K as Investors Flee Risky Assets

Optimisus

Other articles published on Aug 5, 2024

Bitcoin Rebound 2024 Ignites New Crypto Era

US Recession Fears Abating As Services PMI Hits 51.4%

What are Smart Contracts; A Beginner’s Guide

ZCash Trades Green But 100x Raboo Leads Rally With Top Performance Against Tron

BlackRock Sees Low Demand for Other Cryptos Other Than Bitcoin and Ethereum

Crypto Crash: Liquidations Cross $1 Billion As Japan’s Nikkei Drops 13%

Join our free newsletter for daily crypto updates!