Fidelity Sells 2812 Bitcoin Marking Second Largest Outflow Ever, Will the Crypto Market Dump Intensify?
Release: 2024/09/04 13:44 Reading: 560
- Original author：Crypto News Land
- Original source：https://cryptonewsland.com/?p=179803
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Stock and Crypto Markets Plummet
September 4, 2024
Major Liquidation Reported
Tensions are high as the stock and crypto markets experience a major sell-off today. Over $1.05 trillion has been wiped out from the US stock market, causing the Crypto Fear & Greed Index to plunge to 27, indicating a high level of fear.
Crypto Market Suffers Losses
The crypto market has also been hit hard, with Bitcoin (BTC), Ethereum (ETH), and other major altcoins experiencing significant price dips. Liquidations within the crypto space have reached almost $100 million within an hour.
Factors Contributing to Liquidation
A key factor in this liquidation is the subpoena issued by the US Department of Justice to NVIDIA, resulting in a 600-point drop in the Dow Jones Industrial Average. Other popular stock options have also taken a hit, leading to the overall liquidation amount.
Bitcoin (BTC) Outlook
Bitcoin's value dipped to $55,000 before climbing back up to around $56,600. Ethereum, Solana (SOL), Ripple’s XRP, and Dogecoin (DOGE) have all followed suit.
Fidelity's Bitcoin Sale
Fidelity has sold 2812 Bitcoin, marking the second-largest outflow ever. This move is seen as another contributing factor to the BTC price dip.
Analyst Predictions
Despite the current FUD (fear, uncertainty, and doubt), many analysts are prepared for the dip based on historical data predicting a market downturn. These traders anticipate an upcoming upswing for the crypto market.
Disclaimer
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