Greed

Arkham

Status

<h4><strong>This sharp decline in crypto assets occurred against a backdrop of faltering equities performance. The S&amp;P 500 dropped by up to 4.4% in the same period.</strong></h4> 
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      <p>The sell-off was driven by weak employment data, slow tech growth, and renewed <a href="https://www.news.com.au/afx_prid/2024.7.25.1/auth/ptc/?scope=QBX3emxjc2lkPTNERjhENTcyLUIzRDctNDZFRC05QzZELTEwODhBOERDNDg4NiZ0b2tlbj1hSFIwY0hNNkx5OTNkM2N1Ym1WM2N5NWpiMjB1WVhVdlptbHVZVzVqWlM5dFlYSnJaWFJ6TDNkdmNteGtMVzFoY210bGRITXZaMnh2WW1Gc0xYTjBiMk5yHADxFnRkSFZ0WW14bExYSmxZMlZ6YzJsdmJpMW1aV0Z5Y3k5dVpYZHo4APElM0o1TDJFeU56YzNObU01Wm1ZNE9XRTFOVFZrTUdVMk56azFObVF4TnpkaU5EVXgmYWZ4X%2fEA8iA5ZWYzM2ZiMjY1NGY0MTVhYjk4Y2FkZTAzYzMxOGU1NThkY2I1NWMyZmQ4ZDQwMjkA%2bhVyaWQ9MmE0OGZhY2ZjMGQ5NDZkM2I5MjVjZTM5ZWU2NTQ5YzI5ABFmOQDwGHJxYz0yJk5leHRBY3Rpb249UmVkaXJlY3RUb0NsaWVudERvbWFpbg%3d%3d&amp;afx_auth=FSrzMwyVa+uX0SWh4gz0RFI1HMU9hXbC8H/F+fUTu1CE+nElskN5L91T2VmyZTuVHFhZYVB0h0/HGHI0fdxSfQFBQaaMwZxkPamxeLjwW1LXREK2LDYqRcNidBQkg/N5" target="_blank" rel="noopener">recession fears</a>. What happened to the crypto market lately?</p> 
      <h5><strong>Sell-Off Driven by Economic Weakness and Recession Fears</strong></h5> 
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<p>Several high-profile companies have reported disappointing second-quarter results, contributing to the <a href="https://au.investing.com/news/economy-news/stocks-stumble-on-growth-fears-with-us-jobs-data-eyed-3374760" target="_blank" rel="noopener">market’s turbulence</a>. Microsoft and Intel <a href="https://cointelegraph.com/news/microsoft-investors-concerned-slow-ai-returns" target="_blank" rel="noopener">posted</a> earnings below expectations, while Nvidia, a key player in the tech sector, faced substantial declines. Nvidia’s <a href="https://cointelegraph.com/news/tech-stocks-plummet-intel-nosedives-nvidia-faces-antitrust-probe-amazon" target="_blank" rel="noopener">struggles</a> have been exacerbated by growing speculation about impending rate cuts in September. This can lead to a capital shift back into smaller, lagging companies.</p> 
<p>The crypto market, reflecting broader economic uncertainties, has seen dramatic price drops. On August 5th, BTC plunged by as much as 8.8%, while <a href="https://www.altcoinbuzz.io/?s=eth" target="_blank" rel="noopener">ETH</a> fell by 15% in the last 24 hours. Over the past week, BTC and ETH have experienced declines of 20% and 27%, respectively. SOL has been the hardest hit among the top 10 cryptos by market cap, with a 30% drop since July 30. Here is how the total crypto marketcap has decreased in the last 3 months:</p> 
<p><img decoding="async" class="wp-image-147403 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vfdfgyytuy-300x151.png" alt="" width="624" height="314" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vfdfgyytuy-300x151.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vfdfgyytuy-768x386.png 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vfdfgyytuy-835x420.png 835w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vfdfgyytuy-696x350.png 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/vfdfgyytuy.png 954w" sizes="(max-width: 624px) 100vw, 624px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://www.coingecko.com/en/global-charts" target="_blank" rel="noopener">Coingecko</a></strong></h6> 
<p>The market turmoil has also been influenced by a <a href="https://cointelegraph.com/news/bitcoin-crashes-below-53k-wiping-out-600-million-leveraged-longs" target="_blank" rel="noopener">significant sell-off</a> from Jump Crypto, a major trading firm.</p> 
<h5><strong>More About the Current Status of the Crypto Market</strong></h5> 
<p>According to <a href="https://platform.arkhamintelligence.com/explorer/entity/jump-trading" target="_blank" rel="noopener">Arkham Intelligence data</a>, Jump Crypto has liquidated hundreds of millions of dollars in assets over the past few days, exacerbating the downward pressure on the market.</p> 
<p><img decoding="async" class="wp-image-147405 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/bfhgghghj-195x300.jpg" alt="" width="451" height="694" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/08/bfhgghghj-195x300.jpg 195w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/bfhgghghj-273x420.jpg 273w, https://www.altcoinbuzz.io/wp-content/uploads/2024/08/bfhgghghj.jpg 395w" sizes="(max-width: 451px) 100vw, 451px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/EmberCN/status/1819912925060198753" target="_blank" rel="noopener">X</a></strong></h6> 
<p>The <a href="https://alternative.me/crypto/fear-and-greed-index/#google_vignette" target="_blank" rel="noopener">Crypto Fear &amp; Greed Index</a>, which measures market sentiment towards Bitcoin and cryptocurrencies, has also fallen into the “fear” zone. As of the latest update, the index stands at a score of 26, reflecting widespread apprehension among investors.</p> 
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="alignnone wp-image-123700 size-full" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg" sizes="(max-width: 1197px) 100vw, 1197px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner.jpg 1197w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1068x132.jpg 1068w" alt="" width="1197" height="148"></a></p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/crypto-market-faces-510b-sell-off-amid-economic-uncertainty/">Crypto Market Faces $510B Sell-Off Amid Economic Uncertainty</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Crypto Market Faces $510B Sell-Off Amid Economic Uncertainty

Altcoin Buzz

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