Crypto Market Crash: 5 Key Insights Driving Bitcoin & Altcoins’ Decline

2.Rising Recession Fears: What’s Next?

Economist Peter Schiff has added fuel to the fire of recession worries stoked by the dismal jobs report. If anything, rate cuts will make inflation even hotter, according to Schiff, but they won’t do much to help the economy or jobs. Stop thinking about stagflation like your dad did. That’s far worse!

His remarks underscore concerns that possible rate reduction by the Federal Reserve may hasten inflation rather than avert a recession. The current crypto market fall was precipitated by these worries, which in turn increase market volatility generally.

Schiff went on to say that Spot Ethereum ETFs were failing investors because of the persistent withdrawals from these products. He went on to say that if things continue like this, the price of ETH would re-enter the $2,000 range. The price of Ethereum is just near $3,000 right now.

3.Bitcoin Long Liquidations: What Are They?

In the last day, long liquidations have surged in the bitcoin market. Of all the market liquidations, 90% involved long holdings, which were liquidated for about $241.07 million. Prices of cryptocurrencies have been under increasing downward pressure due to this massive selling of holdings.

The precipitous decline in the price of bitcoin (from $65,000 to $60,000) is further evidence of the substantial effect of liquidation. Data from Coinglass also showed that long positions worth almost $1 billion were liquidated due to the 14% decline in BTC price over the previous five days.

4.Stock Market Decline: What’s Behind the Fall?

The crypto market meltdown has been exacerbated by the general stock market decline. Stocks took a nosedive on August 2 as concerns about an impending economic slump were stoked by a jobs data that was lower than expected. To close at 5,346.56, the market index as a whole fell 1.84%. Moreover, the

The Nasdaq Composite closed at 16,776.16, a decrease of 2.43%. Its fall from its most recent peak is now above 10%. In addition, the Dow Jones Industrial Average finished the day at 39,737.26, down 610.71 points, or 1.51%, with a session low of 9,89 points. The crypto market may have been affected by the stock market fall.

5.Bitcoin and Ethereum ETFs See Significant Outflows

Contributing to the market’s problems, exchange-traded funds (ETFs) for Bitcoin and Ethereum have both seen substantial outflows. On August 2, a total of $80.4 million left Bitcoin ETFs, bringing the weekly total to $237.4 million. Ethereum exchange-traded funds, however, had daily outflows of $54.3 million and weekly outflows of $169.4 million.

On Friday, $61.4 million left Grayscale’s ETHE. Genesis Trading’s bankruptcy payouts in BTC and ETH, along with these negative ETF flows, may have intensified the crypto market meltdown.

Where to Trade Crypto Futures?

About BTCC

BTCC is a leading cryptocurrency trading platform that is distinguished by its ability to balance the simplicity of use with advanced features. It provides a comprehensive educational program through the BTCC Academy, 24/7 customer support, and robust security to both novices and experts. BTCC is a top choice for digital asset investors due to its emphasis on user contentment, which fosters a secure and informed trading environment across a variety of cryptocurrencies.

BTCC is one of the few exchanges in the market that offers high-leverage options for investors and concentrates extensively on futures trading. Users have access to more than 300 USDT-margined perpetual trading pairs, which encompass numerous prominent altcoins and meme-coins. Additionally, the platform has recently implemented spot trading to facilitate novice users who may not be acquainted with futures trading.

• Established Reputation: BTCC is one of the oldest and most well-known cryptocurrency exchanges, having been operational since 2011. Its history in the market enhances its credibility and trustworthiness.
• A Diverse Selection of Cryptocurrencies: BTCC allows customers to access and exchange a wide range of digital assets.
• Margin and Futures Trading: BTCC provides margin and futures trading options, allowing customers to expand their trading holdings and potentially increase their profits.
• Proficient Trading Instruments: such as real-time market data, trading charts, and technical analysis indicators. These tools can help users make informed trading decisions.
• Security Measures: BTCC values security and uses a variety of safeguards to secure customer payments and information. This includes two-factor authentication (2FA) and cold storage of cryptocurrency assets.

BTCC Guide:

• How to Trade Crypto Futures Contracts on BTCC
• BTCC Guide-How to Deposit Crypto on BTCC?
• What is Crypto Futures Trading – Beginner’s Guide
• What is Leverage in Cryptocurrency? How Can I Trade at 100X Leverage?
• BTCC Review 2024: Best Crypto Futures Exchange

Crypto Buying Guides:

• How To Buy Bitcoin (BTC)
• How To Buy Picoin
• How To Buy Ethereum (ETH)
• How To Buy Dogecoin (DOGE)
• How To Buy Pepe Coin (PEPE) 
• How To Buy Ripple (XRP) 

Crypto Prediction:

• Ethereum (ETH) Price Prediction 2024, 2025, 2030 — Will ETH Reach $10,000?
• Ethereum Price Prediction 2024, 2025, 2030: How High Can ETH Go in 2024?
• Bitcoin (BTC) Price Prediction 2024, 2025, 2030 — Is BTC a Good Investment?
• Ripple (XRP) Price Prediction 2024, 2025, 2030 — Will XRP Reach $1 After SEC Lawsuit?
• Pi Coin Price Prediction 2024,2025,2030 — Is Pi Coin a Good Buy?
• Pepe (PEPE) Price Prediction 2024, 2025, 2030 – Will PEPE Reach $1