The Crypto Fear and Greed Index recorded a score of 17 out of 100 on Aug. 5 — the lowest it has been since July 12, 2022.
A rapid decline in the traditional markets has spread to cryptocurrencies, obliterating them with a significant drop in all major assets. What are the possible factors for this perfect storm?
The 300 Ethereum coins were transferred from a wallet identified as “Noman Seleem Seized Funds” by the onchain analytics firm.
Several factors accelerated ETH’s drop to $2,100, and analysts warn that the recovery could take some time.
Global equity markets witnessed a massive sell-off, pulling Bitcoin and several major cryptocurrencies to unexpected lows.
Jump Trading significantly contributed to the crypto market sell-off and it could be looking to sell another $104 million worth of wstETH.
Crypto whales are positioning themselves for the next “altcoin season,” while DeFi loans are seeing a resurgence back to 2022 highs.
As Bitcoin dropped below $50,000, analysts expect more outflows that would potentially drive prices down to $42,000.
The memecoin took a massive hit after Buterin sold his entire 17 billion Neiro airdrop, but in a weird turn of events, it pumped soon after.