Grim Reaper Comes for Crypto

What caused the market selloff?

Author

Hunter Hodge
July 05, 2024 • Read Time: 8 minutes

Well, there’s no other way to say it, this week has been a bloodbath in crypto! In a dramatic move, Bitcoin's price nosedived by 15% yesterday, spooked by the dual impact of Mt. Gox repayment supply shock and the German government's sudden dump of billions in BTC.

Adding insult to injury, the market sell off triggered a staggering 114% surge in crypto liquidations, hitting $265 million and dragging the global market cap to its lowest in two months.

With the fallout wreaking havoc across the industry, investors are left wondering just how deep this rabbit hole goes. But analysts and historical charts say “No problem, it’s all part of the journey” to a parabolic pump later this year. Let’s dive in!

  • Bitcoin plunges 15% amid Mt. Gox repayment supply shock while German government starts selling billions in BTC. — Read More

  • Crypto liquidations doubled as global market cap hit a 2-month low, Coinglass reports a 114% increase, totaling $265M in liquidations. — Read More

  • Experts believe upcoming Bitcoin sales from Mt. Gox and Germany may signal a market bottom, alleviating selling pressure. — Read More

  • New Retail Bitcoin investors panic and dump $2.4 billion in BTC during market drop; long-term investors buy the dip. — Read More

  • Consensys acquires Wallet Guard to integrate scam detection and security features into MetaMask, significantly enhancing user protection. — Read More

  • Trump proposes US Government buy Bitcoin as a Strategic Reserve Asset, a move that could accelerate adoption exponentially. — Read More

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