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.
The crypto market saw its largest three-day sell-off in 12 months amid weak jobs data and revived fears of a recession leading to a tumble in the equities market.
Katalin Tischhauser, head of investment research at Signum Bank, has joined other commentators who suggested that spot Solana and Cardano ETFs are unlikely, though VanEck may disagree.
Bitcoin may find buyers close to $56,000, benefitting select altcoins such as SOL, XRP, KAS, and AAVE.
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Crypto traders claim that Dogwifhat will "likely retest" the critical support level as its price and open interest have both plummeted since July 27.
Memecoins underperform the wider crypto market after double-digit weekly losses surpass the sell-off in BTC and ETH.
The sell-off in the global stock markets is casting a bearish shadow on the cryptocurrency markets, signaling near-term weakness.