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- Bitcoin Sell Pressure Remains
Bitcoin Sell Pressure Remains
PLUS: TON Jumps Big With Launchpool
Blockstreet Journal
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Welcome, Crypto enthusiasts!
The sell pressure on Bitcoin could break the 56K support level leaving traders cautious & uncertain.
In Today’s Blockstreet Journal:
Bitcoin Sell Pressure Remains
TON Jumps Big With Launchpool
Market Rundown
Top Gainers & Losers
Airdrops & More News
Latest News
BITCOIN
📉 Bitcoin Sell Pressure Remains
Word On The Street: The upcoming expiration of cryptocurrency options poses a significant threat to Bitcoin's price, potentially adding sell pressure.
The details:
On August 16 at 8:00 am UTC, over $1.4 billion worth of Bitcoin (BTC) options are set to expire, according to Deribit.
This sets Bitcoin's "max pain point" at $60,000, the price level where the most options contracts would expire worthless.
While Bitcoin faces downward pressure, the potential for a price recovery might come from inflows into U.S. spot Bitcoin exchange-traded funds
Why it matters: According to market sentiment among Bitcoin whales (large holders), BTC may be headed toward the $56,000 support level.
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MARKET NEWS
📈 TON Jumps Big With Launchpool
Word On The Street: Toncoin (TON) has experienced a remarkable price surge over the past 10 days, reaching its highest levels in nearly four weeks.
The details:
This surge is largely attributed to a series of positive developments within its ecosystem, including its inclusion on the Binance Launchpool.
One of the main catalysts for TON's price increase is its recent addition to Binance Launchpool, as announced by Binance
Another significant factor contributing to TON's performance is its new partnership with Pyth Network, a decentralized data oracle.
Why it matters: Overall, the combination of strategic partnerships, platform inclusions, and network growth has positioned Toncoin as a significant player.
Market Rundown
Fear & Greed Index
The global crypto market cap is $2.1T, a 0.15% increase over the last day.
The total crypto market volume over the last 24 hours is $65.75B, which makes a 4.91% decrease. The total volume in DeFi is currently $3.25B, 4.94% of the total crypto market 24-hour volume. The volume of all stable coins is now $62.29B, which is 94.74% of the total crypto market 24-hour volume.
Bitcoin’s dominance is currently 55.92%, a decrease of 0.01% over the day.
Global Market Metrics
- Total Market Cap: Approximately $2.10 trillion USD
- Total Volume: $65.75 billion USD
- Bitcoin Dominance: 55.92%
- Ethereum Dominance: 15.22%
- Active Cryptocurrencies: 10,064
- DeFi Market Cap: $55.79 billion USD
- DeFi Volume: $3.25 billion USD
- Stablecoin Market Cap: $161.03 billion USD
- Stablecoin Volume: $62.29 billion USD
- Derivatives Volume: $611.95 billion USD
Top Gainers & Losers
🚀 Top Gainers
💩 Top Losers
Airdrops & More News
DAILY AIRDROP
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Other News
Binance reaches $1.7M agreement with Brazilian securities regulator. Brazil’s CVM issued a warning to the crypto exchange in 2020 that it was offering residents derivatives products without authorization.
Trump Organization to Launch a Cryptocurrency Initiative. The son of former President Trump tweeted earlier this month that he had “truly fallen in love with Crypto/DeFi.”
US Senate Majority Leader to speak at crypto event for Kamala Harris. Senator Chuck Schumer and 10 Democratic senators sided with Republicans to pass a resolution overturning an SEC rule on banks holding crypto, later vetoed by President Biden.
Memecoin Trading Is Suddenly Trump.fun. Blockchain has gone even more ridiculous than usual over the past week, with headlines focused on Trump-themed memecoins
🫡 Thanks For Reading
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