{"id":136730,"date":"2024-09-04T12:30:50","date_gmt":"2024-09-04T09:30:50","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=136730"},"modified":"2024-09-04T12:05:08","modified_gmt":"2024-09-04T09:05:08","slug":"bitcoin-and-ethereum-prices-fall-amid-market-sell-off","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/bitcoin-and-ethereum-prices-fall-amid-market-sell-off\/","title":{"rendered":"Bitcoin and Ethereum Prices Fall Amid Market Sell-Off"},"content":{"rendered":"<p>Bitcoin (<strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">BTC<\/a><\/strong>) has dropped to around $56,000, reflecting a 3.7% decrease in the past 24 hours, before rebounding to $56,800. Ethereum (<strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/ethereum\/\">ETH<\/a><\/strong>) has fallen to $2,400, a 3.9% drop.<\/p>\n<p>The recent downturn is linked to a US Department of Justice probe into Nvidia and a broader decline in US stock markets. Analysts are now scrutinizing the factors behind these losses.<\/p>\n<p>Peter Chung from Presto Research noted that the market\u2019s recent slide is largely due to disappointing August ISM data, which led to a sell-off in traditional financial assets, including cryptocurrencies.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/bitcoin-set-for-massive-surge-analyst-sees-parallels-with-historic-japanese-market-boom\/\" title=\"Bitcoin Set for Massive Surge? Analyst Sees Parallels with Historic Japanese Market Boom\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/bitcoin-investing-cryptocurrency-altcoin-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Bitcoin Set for Massive Surge? Analyst Sees Parallels with Historic Japanese Market Boom<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Chung explained that Bitcoin\u2019s 4% drop happened in two phases. Initially, the decline was driven by US economic data, which, while significant, was less dramatic compared to the 17% drop during the August 5 market crash under similar circumstances.<\/p>\n<p>The second phase saw additional declines as Asian investors reacted to weak stock performances in Asia, with major indexes like Japan\u2019s TOPIX and South Korea\u2019s KOSPI falling sharply.<\/p>\n<p>Overall, despite the 4% drop, Chung views Bitcoin\u2019s decrease as relatively modest given the broader market turmoil.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A significant sell-off in the cryptocurrency market has led to declines in Bitcoin and altcoin prices.<\/p>\n","protected":false},"author":3,"featured_media":33898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27,24],"tags":[],"class_list":["post-136730","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-altcoins"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin and Ethereum Prices Fall Amid Market Sell-Off<\/title>\n<meta name=\"description\" content=\"A significant sell-off in the cryptocurrency market has led to declines in Bitcoin and altcoin prices.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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