According to cryptocurrency analyst Joseph Young, when the funding rate fell to 0.011%, it reflected the fact that Bitcoin perpetuals were oversold following the deep price drop of around $3,000. This supports the claim of other analysts that there was, indeed, too much leverage in the market. Young adds, however, that the price of Bitcoin remained resilient at $18,000 despite the overselling. Will crypto keep dropping Mati Greenspan, CEO of Quantum Economics, a research and investment firm, said there was a lot at stake in how stablecoins perform in the coming days.
Crypto still falling
Oscar Wong / Getty Images Grant Shapps admits UK discussing shock move in tackling Red Sea crisis “There is a 50% chance that bitcoin will drop below $25,000 before the end of September. This would be the last big dip before the next big bull run cycle commences.”
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The crypto downturn has wiped more than $1.5trillion of value from the markets but investors will still be hoping that prices will be able to recover as they have done in the past. Mainstream adoption lagging Coinshares. "Why Bitcoin just Plummeted."
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2024 Crypto Crime Trends: Illicit Activity Down as Scamming and Stolen Funds Fall, But Ransomware and Darknet Markets See Growth In June 2018, Ella Zhang of Binance Labs, a division of the cryptocurrency exchange Binance, stated that she was hoping to see the bubble in ICOs collapse. She promised to help "fight scams and shit coins".
