Bitcoin (BTC) Price Plunges Amidst Market Selloff

Bitcoin (BTC) has experienced a significant decline of over 13% in the past 24 hours and nearly 25% over the past week as the cryptocurrency market followed a sharp downturn in the global stock market. BTC has fallen from over $60,000, losing crucial support levels, and currently hovers around $52,700.

比特幣 (BTC) 價格在市場拋售中暴跌隨著全球股市大幅下滑，加密貨幣市場在過去 24 小時內大幅下跌超過 13%，在過去一周下跌近 25%。 BTC 從 60,000 美元以上下跌，失去了關鍵支撐位，目前徘徊在 52,700 美元左右。

Over the weekend, a steep selloff accelerated, causing BTC to plunge to levels unseen since February. Ethereum (ETH) also experienced a precipitous fall, dropping to lows last seen in December. A possible catalyst for this unprecedented correction in the crypto market could be the Bank of Japan's hike in its benchmark interest rate.

週末，大幅拋售加速，導致比特幣跌至 2 月以來的最高水準。以太幣（ETH）也經歷了急劇下跌，跌至去年 12 月的低點。日本央行上調基準利率可能是加密貨幣市場前所未有的調整的催化劑。

Panic Grips the Markets

The stock and cryptocurrency markets have witnessed a significant decline over the weekend, opening in the red due to economic uncertainty and geopolitical tensions in the Middle East. Regulatory concerns and fears of inflation have further contributed to market volatility. Bitcoin (BTC) has lost over 20% in the past week, while Ethereum (ETH) has nearly erased all of its year-to-date gains. The Bank of Japan's recent interest rate hike may have triggered this selloff in both traditional and crypto markets.

恐慌籠罩市場由於經濟不確定性和中東地緣政治緊張局勢，股票和加密貨幣市場週末大幅下跌，開盤下跌。監管擔憂和對通膨的擔憂進一步加劇了市場波動。比特幣 (BTC) 在過去一周下跌了 20% 以上，而以太幣 (ETH) 幾乎抹去了今年迄今為止的所有漲幅。日本央行最近的升息可能引發了傳統市場和加密貨幣市場的拋售。

This market collapse marks BTC's worst week since the FTX debacle in 2022, and other major altcoins like ETH and DOGE have also plummeted, recording substantial losses. ETH has dropped by 20% in the past 24 hours, breaking below the $2,850 support level. Concerns about the global economic outlook and rumors of an AI-driven investment bubble have contributed to the global stock market selloff and significantly impacted the crypto markets.

這次市場崩盤標誌著 BTC 自 2022 年 FTX 崩盤以來最糟糕的一周，ETH 和 DOGE 等其他主要山寨幣也暴跌，錄得巨額損失。 ETH在過去24小時內下跌了20%，跌破了2850美元的支撐位。對全球經濟前景的擔憂以及人工智慧驅動的投資泡沫的傳言導致了全球股市的拋售，並對加密貨幣市場產生了重大影響。

Geopolitical tensions in the Middle East have also added to market concerns. Traders and institutional investors are responding to these economic and geopolitical pressures, leading to a sharp decline in asset values. Spot Bitcoin ETFs in the US experienced their largest outflows in three months on August 2. Analysts had forecast a pullback to $54,000, but with BTC trading close to $51,000, the $50,000 level is now in sharp focus. The world's leading cryptocurrency achieved an all-time high in March 2024 and was poised to surpass it in July, but the recent decline has erased 20% of its peak value.

中東地緣政治緊張局勢也加劇了市場擔憂。交易員和機構投資者正在應對這些經濟和地緣政治壓力，導致資產價值急劇下跌。 8 月2 日，美國現貨比特幣ETF 經歷了三個月來最大的資金流出。 。全球領先的加密貨幣在 2024 年 3 月創下歷史新高，並有望在 7 月超越該水平，但最近的下跌已抹去其峰值的 20%。

Long-Term Traders Seize Buying Opportunity

Despite the decline, long-term traders view this downturn as a potential buying opportunity. Historical data suggests that purchasing during a market downturn can yield substantial returns when the market rebounds, a strategy known as "buying the dip." Some experts believe that the current prices present a unique chance for investors to acquire assets like BTC and ETH at a significant discount and reap significant profits upon market recovery. Google Trends data indicates a growing interest in the term "buy the dip," suggesting that more traders may embrace this strategy.

長期交易者抓住買入機會儘管價格下跌，但長期交易者仍將這次低迷視為潛在的買入機會。歷史數據表明，在市場低迷時期買入可以在市場反彈時產生可觀的回報，這種策略被稱為「逢低買入」。一些專家認為，目前的價格為投資者提供了一個獨特的機會，可以以大幅折扣購買 BTC 和 ETH 等資產，並在市場復甦後獲得可觀利潤。谷歌趨勢數據表明，人們對「逢低買入」一詞越來越感興趣，這表明更多交易者可能會接受這一策略。

Bitcoin (BTC) Price Analysis

As evident in the price chart, Bitcoin (BTC) has undergone a significant crash. The world's leading cryptocurrency plummeted over the weekend and has lost nearly 12% during the current trading session. The crypto markets have shed over $270 billion in total value, with BTC and ETH experiencing dramatic drops as investors sold off risky assets.

比特幣（BTC）價格分析從價格圖表中可以明顯看出，比特幣（BTC）已經經歷了嚴重的崩潰。全球領先的加密貨幣在周末暴跌，目前交易時段下跌近 12%。加密貨幣市場總價值已蒸發超過 2,700 億美元，其中 BTC 和 ETH 由於投資者拋售風險資產而大幅下跌。

BTC's price has reached its lowest levels since February 2024, with the ongoing session witnessing a low of $49,360 as sellers breached even the $50,000 price level.

BTC 的價格已達到 2024 年 2 月以來的最低水平，目前交易時段跌至 49,360 美元，賣家甚至突破了 50,000 美元的價格水平。

Source: TradingView

來源：TradingView

BTC had remained in the red throughout the previous week after a failed attempt to push above $70,000. Bearish sentiment prevailed, and by Friday, the price of BTC had dropped to $61,786, with BTC closing just above the 200-day SMA. On Saturday, BTC fell below the 200-day SMA after a 1.29% decline, pushing the price down to $60,992. Market factors intensified selling pressure on Sunday, causing BTC to drop by 4.41%. Consequently, BTC slipped below the crucial $60,000 price level, plummeting to $58,301. The ongoing session sees BTC down by almost 12%, with the asset currently trading at $51,737. The price has recovered from a low of $49,360 to climb back above $50,000.

在嘗試突破 70,000 美元失敗後，比特幣上週一直處於虧損狀態。看跌情緒盛行，到週五，BTC 價格已跌至 61,786 美元，收盤價略高於 200 日移動平均線。週六，BTC 在下跌 1.29% 後跌破 200 日移動平均線，將價格推低至 60,992 美元。市場因素週日拋壓加劇，導致BTC下跌4.41%。因此，BTC 跌破了關鍵的 60,000 美元價格水平，暴跌至 58,301 美元。在目前交易日中，BTC 下跌近 12%，目前該資產交易價格為 51,737 美元。價格已從 49,360 美元的低點回升至 50,000 美元以上。

Examining the chart, it is clear that buyers are attempting to push BTC back above $55,000, as indicated by the extended tail. This suggests that traders are buying at lower levels, which could help check the price decline. If the $50,000 level serves as support, we could see BTC recover to some extent as buyers enter the market at this level. The RSI has also reached the oversold region, indicating a potential for price stabilization in the short term.

從圖表中可以明顯看出，買家正試圖將 BTC 推回到 55,000 美元以上，如延長的尾部所示。這表明交易者正在較低水平買入，這可能有助於抑制價格下跌。如果 50,000 美元的水平作為支撐，隨著買家在此水平進入市場，我們可能會看到 BTC 出現一定程度的復甦。 RSI也已達到超賣區域，顯示短期內價格有穩定的潛力。

Ethereum (ETH) Price Analysis

Ethereum (ETH) turned negative for 2024 as fear gripped both traditional and cryptocurrency markets. ETH has lost a staggering 21% over the past 24 hours and nearly 32% when compared to weekly figures. The cryptocurrency lost crucial support levels as bearish sentiment escalated over the weekend, driven by several factors, including a pessimistic economic outlook and an intensifying crisis in the Middle East. Like other cryptocurrencies, ETH spent most of the previous week in the red, but the weekend selloff has been unprecedented. Bearish sentiment began to intensify on Friday as ETH fell by almost 7%, breaking below the $3,000 support level and settling at $2,987.

以太幣 (ETH) 價格分析由於恐懼籠罩著傳統市場和加密貨幣市場，以太幣 (ETH) 在 2024 年轉為負值。 ETH 在過去 24 小時內下跌了 21%，與每週數據相比下跌了近 32%。由於悲觀的經濟前景和中東危機加劇等多種因素的推動，週末看跌情緒升級，加密貨幣失去了關鍵的支撐位。與其他加密貨幣一樣，ETH 上週大部分時間都處於虧損狀態，但週末的拋售卻是史無前例的。週五，看跌情緒開始加劇，ETH 下跌近 7%，跌破 3,000 美元支撐位，最終收在 2,987 美元。

Source: TradingView

來源：TradingView

Throughout the weekend, ETH continued to decline, falling by 2.79% on Saturday to settle at $2,904. ETH had a strong support level between $2,800 and $2,850. This was breached on Sunday after a 7.41% drop sent ETH plummeting to $2,688. The current session sees ETH down by 13.50%, with the price currently at $2,319. Sellers had pushed ETH to a low of $2,128, sparking fears that the price could dip below $2,000. However, demand surfaced at lower levels, indicating support, and ETH managed to recover, as evident from the price chart. The RSI has also slipped into the oversold zone, suggesting that we could see some price recovery.

整個週末，ETH 繼續下跌，週六下跌 2.79%，收在 2,904 美元。 ETH 在 2,800 美元至 2,850 美元之間有強大的支撐位。週日，ETH 暴跌 7.41%，跌至 2,688 美元，這一點被突破。目前交易日 ETH 下跌 13.50%，目前價格為 2,319 美元。賣家將 ETH 推至 2,128 美元的低點，引發了人們對價格可能跌破 2,000 美元的擔憂。然而，需求出現較低水平，表明有支撐，並且從價格圖表中可以看出，ETH 成功復甦。 RSI 也已滑入超賣區域，表明我們可能會看到價格回升。

Should buyers aid ETH's recovery, it will first attempt to push above $2,500 and then aim to reclaim the $2,850 support zone. Spot ETFs for BTC and ETH saw significant outflows, indicating that a broader base of investors is experiencing the recent crypto market downturn.

如果買家幫助 ETH 復甦，它將首先嘗試突破 2,500 美元，然後目標是收復 2,850 美元的支撐區域。 BTC 和 ETH 現貨 ETF 出現大量資金流出，顯示更廣泛的投資者正在經歷近期加密貨幣市場的低迷。

Solana (SOL) Price Analysis

With the cryptocurrency markets experiencing a sharp decline, Solana (SOL) has also witnessed a steep drop, with the price down by nearly 14% over the past 24 hours. The crypto markets had been bearish the previous week, and although SOL started brightly by pushing towards $200, the market turned bearish as the price fell to $182 on Monday.

Solana（SOL）價格分析隨著加密貨幣市場的大幅下跌，Solana（SOL）也出現了大幅下跌，過去24小時價格下跌了近14%。上週加密貨幣市場一直處於看跌狀態，儘管 SOL 開局表現不錯，一度升至 200 美元，但隨著週一價格跌至 182 美元，市場轉為看跌。

Source: TradingView

來源：TradingView

By Friday, SOL had dipped below the 20-day SMA and settled at $152, just above the 50-day SMA. Over the weekend, bearish sentiment and volatility intensified as SOL slipped below $150 on Saturday, breaking below the 50 and 200-day SMAs to settle at $142.

到週五，SOL 已跌破 20 日移動平均線，收在 152 美元，略高於 50 日移動平均線。週末，看跌情緒和波動加劇，週六 SOL 跌破 150 美元，跌破 50 日和 200 日移動平均線，收在 142 美元。

On Sunday, SOL fell below $140, reaching a low of $131 before recovering and settling at $138. The current session has seen a surge in bearish sentiment, with SOL down over 11%. Sellers had pushed SOL below the crucial $120 level, with the price dipping to a low of $109 and raising the possibility of a further drop below $100. However, strong demand at lower levels could propel SOL back above $120. The asset is currently trading at $123. With the RSI hovering just above the oversold zone, we could witness a recovery in the short term.

週日，SOL 跌破 140 美元，觸及 131 美元低點，隨後回升並收於 138 美元。當前交易日看跌情緒激增，SOL 下跌超過 11%。賣家將 SOL 推低至關鍵的 120 美元水平以下，價格跌至 109 美元的低點，並增加了進一步跌破 100 美元的可能性。然而，較低的強勁需求可能推動 SOL 回到 120 美元上方。該資產目前交易價格為 123 美元。由於 RSI 徘徊在超賣區域上方，我們可能會在短期內看到復甦。

Analysts had predicted that if SOL fell below $120, the price could decline to the $105-$107 support zone. However, ETH has managed to push back above $120. A recovery from this level could see SOL target $140 and then move above $150.

分析師先前預測，如果 SOL 跌破 120 美元，價格可能會跌至 105-107 美元支撐區域。然而，ETH 已成功回升至 120 美元上方。如果從該水準恢復，SOL 目標可能會達到 140 美元，然後升至 150 美元以上。

Ripple (XRP) Price Analysis

Ripple (XRP) has plummeted by 23% over the past week as the selloff intensified over the weekend. The past 24 hours have seen the asset lose almost 15%. However, despite the dramatic drop, analysts remain optimistic about a recovery. Like other cryptocurrencies, XRP has been devastated over the weekend, and the current session has taken a significant toll, with XRP down by over 10%.

Ripple (XRP) 價格分析隨著週末拋售加劇，Ripple (XRP) 過去一週暴跌 23%。過去 24 小時內，該資產損失了近 15%。然而，儘管大幅下降，分析師仍對復甦持樂觀態度。與其他加密貨幣一樣，XRP 在周末遭受重創，目前交易日損失慘重，XRP 下跌超過 10%。

Source: TradingView

來源：TradingView

XRP has been in the red since Wednesday after becoming bearish following a high of $0.659. By Friday, XRP had dipped below the 20-day SMA and settled at $0.560. On Saturday, the price experienced a marginal decline of only 0.87%, as XRP managed to stay above $0.55. However, selling pressure intensified on Sunday, causing XRP to drop by almost 6% to $0.523. The ongoing session sees XRP down by nearly 11%, with the price falling below $

XRP 在觸及 0.659 美元高點後轉為看跌，自周三以來一直處於虧損狀態。到週五，XRP 已跌破 20 日移動平均線，收在 0.560 美元。週六，XRP 價格僅小幅下跌 0.87%，維持在 0.55 美元上方。然而，週日拋售壓力加劇，導致 XRP 下跌近 6% 至 0.523 美元。當前交易日 XRP 下跌近 11%，價格跌破 $