FOMO HOUR 172 - A VERY RED DAY FOR BITCOIN
- Author
- Rug Radio
- Published
- Mon 05 Aug 2024
- Episode Link
- https://podcasters.spotify.com/pod/show/degenzlive/episodes/FOMO-HOUR-172---A-VERY-RED-DAY-FOR-BITCOIN-e2mrivt
Bitcoin hits $50k, liquidations hit $1bn in sell-off. Macro sell-off and end of Yen carry trade blamed. Multiple altcoins hit cycle or all-time lows. Bitcoin dominance rises to cycle-high of 58%. Robinhood halts 24hr trading. Crypto funds saw $528m outflow last week. Justin Sun denies liquidation rumours. Jump Trading continues to liquidate holdings. Ethena founder confirms protocol has ‘zero issues’. Binance launches native KAS mining. Cycle hasn’t even started yet: Cobie.
