2024

Satoshi

RebelSatoshi

Coin

<p>Are you a crypto trader or investor? Well, you didn’t wake up happy this morning.</p> 
<p>The crypto market is down around 3.5% in the last 24 hours, but the major downturn happened during nighttime (CET).</p> 
<p>At 3:29 AM CET, Watcher Guru reported that $100 million was liquidated from the crypto market in the last 30 minutes.</p> 
<p>Considering most Europeans were asleep during this time, the liquidation was likely done by US investors.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">JUST IN: $100 million liquidated from the cryptocurrency market in the past 60 minutes.</p>— Watcher.Guru (@WatcherGuru) <a href="https://twitter.com/WatcherGuru/status/1816284483223490732?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">July 25, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="possible-reasons-for-the-downturn">Possible Reasons for the Downturn</h2> 
<p>LookOnChain just reported that in the past 24 hours, Grayscale transferred $485.6M to <a href="https://captainaltcoin.com/coinbase-review/" target="_blank">Coinbase</a>, and received $14.8M from CoinbasePrime, with a net outflow of 135,662 $ETH or $470.8M!</p> 
<p>However, Grayscale still holds $7.9 billion in Ethereum.</p> 
<p>Ethereum plunged around 8% today, so ETH is now trading below $3,200 after trading over $3,500 for the past week.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">In the past 24 hours, <a href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Grayscale</a> transferred 140,044 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$ETH</a>($485.6M) to <a href="https://twitter.com/hashtag/CoinbasePrime?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#CoinbasePrime</a>, and received 4,382 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$ETH</a>($14.8M) from <a href="https://twitter.com/hashtag/CoinbasePrime?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#CoinbasePrime</a>, with a net outflow of 135,662 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$ETH</a>($470.8M)!<br><br>According to <a href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Grayscale</a>'s website, <a href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Grayscale</a> currently holds 2,489,075 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$ETH</a>($7.9B).… <a href="https://t.co/2LYaRinh4h" target="_blank" rel="nofollow">pic.twitter.com/2LYaRinh4h</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1816315780398735451?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">July 25, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Despite Grayscale’s selloff, another reason for the plunge could be the “sell the news” event around ETH ETFs that happened with Bitcoin in January too.</p> 
<p>As a reminder, Bitcoin price plunged to from $46k to below 40k after Bitcoin ETFs started trading, and we now have a similar story with Ethereum too.</p> 
<p>The BTC price plunged around 2.7%, which is significantly less than Ethereum. This indicates ETH ETFs were likely a factor in the downturn as well. So, if the history of ETFs approvals though us anything, Ethereum could hit new ATH in the next 2 to 3 months.</p> 
<p>However, there’s still <a href="https://captainaltcoin.com/analysts-forecast-bullish-breakouts-for-pepe-and-dogwifhat-wif-meme-coins-heres-their-outlook/" target="_blank">positivity among crypto traders</a> that this bloodbath is only temporary and we might see positive movements from the market in the last 5 months of 2024.</p> 
<p><em><strong>Read also: <a href="https://captainaltcoin.com/top-analyst-lists-6-reasons-why-ripple-xrp-price-will-pump/" target="_blank">Top Analyst Lists 6 Reasons Why Ripple XRP Price ‘Will Pump’</a></strong></em></p> 
<p><em><strong>Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="nofollow">FREE Telegram group.</a></strong></em></p> 
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style=""> 
 <div class="col_wrap_two mb0"> 
  <div class="offerbox_big_wrap flowhidden"> 
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"> <a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/REBEL-SATOSHI-RECQ-MEME-COIN-qndahijqjwle5mml7gg8my30uqig0eo11vxmtat25a.png" width="500" alt="Check $RECQ Meme Coin" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a> 
   </div> 
   <div class="product-summary col_item mobileblockdisplay"> 
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-nofollow-sponsored-span-check-recq-meme-coin-span-a"> <a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> <span>Check $RECQ Meme Coin</span> </a> </h3> 
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div> 
    <div class="buttons_col mb25 rh_big_btn_inline"> 
     <div class="priced_block clearfix"> 
      <div> <a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> Buy RECQ Today </a> 
      </div> 
     </div> 
    </div> 
    <div class="bigofferdesc">
     <i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Serves as the base currency for all transactions within the Rebel Satoshi platform
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>ICO stage, offering tokens at a discounted price
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions.
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade,
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
    </div> 
   </div> 
  </div> 
 </div> 
</div> 
<p>The post <a href="https://captainaltcoin.com/why-is-the-crypto-market-down-today-34/">Why Is The Crypto Market Down Today?</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Why Is The Crypto Market Down Today?

Daftar Isi

CaptainAltcoin

Artikel lain yang dipublikasikan pada 25 Jul 2024

BTC ETFs’ Impact on Spot Market Structure

Binance's First Airdrop Portal Project: What is Banana Gun?

Santiment Names 4 Altcoins: “They Are Under Intense Short, Liquidations Could Ignite Prices Like ...

North Korean Hackers Suspected in $235M WazirX Crypto Heist

VanEck Forecasts Bitcoin at $2.9M Per Coin by 2050

Binance's First Airdrop Portal Project: What is Banana Gun?

Bergabunglah dengan buletin gratis kami untuk pembaruan kripto harian!