Bitcoin, Ethereum, and Solana took a beating this week, with their biggest drops since 2022.The market was on a high in July, but momentum traders started pulling back, signaling potential trouble.After a wild sell-off, traders quickly jumped back in to buy the dip as liquidations slowed down.The crypto market is known for its wild swings, but this week was a whole new level of crazy. Bitcoin, Ethereum, and Solana took some of their hardest hits since the summer of 2022. But this time, it wasnât just cryptoâs own doing.A perfect storm of fears over tech earnings, a possible U.S. recession, and the unwinding of leveraged trades sent shockwaves through global markets. Stocks, bonds, and currencies got hit, and crypto was dragged along for the ride.July was shaping up to be a good month for crypto. Mt Gox and Genesis creditors were finally getting the news theyâd been waiting for, and there was a buzz about a potential âTrump trade.â The idea was that a Donald Trump presidency might bring better days for digital assets. Bitcoin perpetual futures were booming, with interest climbing to over $11 billion, close to an all-time high.
Explore the latest crypto news
âĄïž Be a part of the latests discussions in crypto
đŹ Interact with your favorite creators
đ Enjoy content that interests you
Email / Phone number
