Bitcoin Price Down 10% Since End Of July 29, DOW Also Slips
Release: 2024/08/02 14:49 Reading: 266
Bitcoin Price Plunges 10%
Since July 29th, Bitcoin (BTC) has experienced a significant decline, dropping over 10%. This downturn follows a surge towards $70,000, briefly reaching a two-month high after Donald Trump's remarks in Nashville.
Correlation to Traditional Markets
On August 1st, Bitcoin demonstrated its correlation to traditional markets. As stocks and market indexes slumped, so too did the cryptocurrency.
Specific Market Impacts
BTC's 7% drop in 24 hours coincided with substantial declines in the S&P 500 and Dow Jones Industrial Average, which fell over 500 points in less than an hour. Several large-cap stocks, including Amazon and Nvidia, also experienced declines amid market concerns about a potential U.S. recession.
Cryptocurrency Ecosystem Impact
The volatility in traditional markets and BTC prices rippled through the broader cryptocurrency ecosystem. Total crypto market capitalization shed 6%, dropping to $2.3 trillion. Leading cryptocurrencies such as Ethereum (ETH), Solana (SOL), and Ripple XRP entered a downtrend as investors pulled capital from the digital asset industry.
Margin Liquidations
Margin positions were not immune to market volatility. Over 105,480 traders were liquidated, resulting in $324 million in lost leveraged positions. Ether longs accounted for the majority of liquidations, while BTC posted the second-highest amount.
Disclaimer:
The information provided is not to be construed as trading advice. Bitcoinworld.co.in assumes no liability for any investments made based on this information. Independent research and consultation with qualified professionals is highly recommended before making any investment decisions.
Recent news
More>- Homosexual Pepe Solana Memecoin to Rally 18,000% Before Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- BTFD Presale Captivates Investors in the Best New Meme Coin Presales for Significant Returns as PEPE and SPX6900 Dominate the Scene Fuel the... 01-01
- Homosexual Pepe (HOMOPEPE) Solana Memecoin to Rally 18,000% Before Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- The Metrics Pointing to Massive Potential for WIF, JASMY, and PEPE in 2025 01-01
- BTFD Coin’s Presale is Unmissable Amid Pepe and Moo Deng’s Crypto Hype: Best Meme Coin Presales to Join This Week 01-01
- Homosexual Pepe (HOMOPEPE) Solana Memecoin to Rally 18,000% Ahead of Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- Crypto Gems for the Next Quarter: Top 5 Tokens to Watch 01-01
- Why $PEPE Jumped 20% Today And Which Coin Could Be Next 01-01
- Best New Meme Coins to Join for Short Term: BTFD Raises $4.7M in Presale as BONK Boasts Low-Cost Transactions and PEPE Enjoys Steady Followi... 01-01
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Missed Pepe Unchained? Don’t Worry, This New Pepe-Themed Meme Coin Will Produce Bigger Gains in 2025
- 8 Top 4 Altcoins At 70% Discounts – Last Chance!
- 9 Smart $Pepe trader makes $11.7M profit during Market Drop
- 10 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com