The cryptocurrency market continues to experience price volatility, raising concerns among investors. The situation is exacerbated by economic indicators and global trends.
Price Drop of Bitcoin and Ethereum
Bitcoin's price fell below $108,000, marking its lowest point in the last 50 days, leading to the liquidation of $137 million in long positions. Ethereum also slipped below $4,300 after failing to break above $4,700, triggering $338 million in liquidations.
Key Events in the Cryptocurrency Market
Among the major events of the week: the anticipated release of approximately $4.5 billion in tokens in September, the US Department of Commerce's announcement to publish GDP data on the blockchain, a 40% surge in the Cronos token after Trump Media's $6.4 billion strategy announcement, and Tether's reversal of plans to freeze USDT on five blockchains.
Global Trends and Forecasts
Investors are focusing on key support levels for possible rebounds. Analysts note that attention is now shifting to long-term fundamental indicators, despite anxieties surrounding upcoming token unlocks.
The week was filled with events that impact the cryptocurrency market. The price drops of major tokens and forthcoming token unlocks raise concerns among investors, which may affect market conditions in the near term.
