Bitcoin falls to ‘extreme fear’ on Aug. 5 as ETFs outflow $168M
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.
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.
The regulator claims that Coinbase’s document discovery requests are overly broad and disproportionate to the needs of the case.
OpenAI co-founder John Schulman says he’s leaving OpenAI to focus more intently on AI alignment and “hands-on technical work” at rival firm Anthropic.
The complainants and Coinbase disagree on whether a government contract to custody seized crypto breaches campaign finance laws or not.
Bitcoin declined by a very similar amount following the halving in 2016 and before the 2017 bull run.
Why did the crypto market lose 15% of its value in one weekend? Thank the Bank of Japan for playing a starring role.
Bitcoin sunk to under $50,000 at the start of US trading on Aug. 5, prompting a huge spike in trading volumes of crypto-related ETFs.
It comes as decentralized prediction platform Polymarket has gathered more than $500 million in bets on who will likely win the 2024 United States presidential election.
The former president continues to stress that if the United States does not innovate in the digital asset sector, other countries will.
Cryptocurrencies have shed billions of dollars in the past few days as investors remain concerned about Japan, US election, and technical formations. No crypto has been spared, with Bitcoin falling below $50,000 and Ethereum moving to $2,335. Other cryptocurrencies like BNB, Solana, and XRP have fallen by double-digits.
Cryptocurrency investors are still piling into Poodlana, a new crypto token that aims to dethrone popular meme coins like Dogecoin, Brett, and Pepe.
Data on its website shows that Poodlana has raised over $4.991 million in less than three weeks. This growth makes it one of the best-performing token sales of the year.
Poodlana’s popularity has happened because of its excellent marketing and the fact that it is named after Poodle, a highly popular Japanese dog breed.
The developers are marketing it as the creme-de-la-creme of the meme coin industry. Precisely, the associate it with Hermes, the most prestigious brand in the fashion industry whose simple bags go for thousands of dollars.
The token sale has also been highly popular because of the developer’s approach. For example, the POODL token is increasing after a few days, meaning that people who buy it earlier will get it at a discount.
Also, unlike other token sales that stay without trading for months, Poodlana will start trading just 30 minutes after the sale ends. Precisely, investors will be able to trade the token at midday on August 16th.
Many investors buy Poodlana and other token sales hoping to cash it big when they list. Historically, many investors have made a fortune investing in token sales. Just recently, many meme tokens like Popcat, Pepe, and Brett surged, creating millionaires along the way.
However, it is always good to embrace the best risk management strategies when buying presale tokens. Ideally, you should not invest funds that you are not comfortable to lose since, as we saw on Monday, the industry can crash. You can buy the Poodlana token here.
There are a few reasons why cryptocurrencies plunged. First, they dropped because of the ongoing recession fears after last Friday’s weak jobs numbers. The data showed that the unemployment rate rose to 4.3% as the economy created just 114k jobs in July.
https://x.com/elerianm/status/1820157102805176655
Second, there are concerns about Japan, where the country’s central bank has started hiking interest rates. This is important because Japan is the third-biggest economy in the world and is one of the top buyers of foreign assets. Also, the hike happened as other central banks are cutting rates.
Third, there are concerns that Donald Trump will not win the presidential election after all. Most crypto investors believe that Trump would be a better president for the industry. For one, he has vowed to fire Gary Gensler, the SEC chair, on day one.
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