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.

比特币 (BTC) 价格在市场抛售中暴跌随着全球股市大幅下滑，加密货币市场在过去 24 小时内大幅下跌超过 13%，在过去一周下跌近 25%。 BTC 从 60,000 美元以上下跌，失去了关键支撑位，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.

周末，大幅抛售加速，导致比特币跌至 2 月份以来的最高水平。以太坊（ETH）也经历了急剧下跌，跌至去年 12 月的低点。日本央行上调基准利率可能是加密货币市场前所未有的调整的催化剂。

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.

恐慌笼罩市场由于经济不确定性和中东地缘政治紧张局势，股票和加密货币市场周末大幅下跌，开盘下跌。监管担忧和对通胀的担忧进一步加剧了市场波动。比特币 (BTC) 在过去一周下跌了 20% 以上，而以太坊 (ETH) 几乎抹去了今年迄今为止的所有涨幅。日本央行最近的加息可能引发了传统市场和加密货币市场的抛售。

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.

这次市场崩盘标志着 BTC 自 2022 年 FTX 崩盘以来最糟糕的一周，ETH 和 DOGE 等其他主要山寨币也暴跌，录得巨额损失。 ETH在过去24小时内下跌了20%，跌破了2850美元的支撑位。对全球经济前景的担忧以及人工智能驱动的投资泡沫的传言导致了全球股市的抛售，并对加密货币市场产生了重大影响。

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.

中东地缘政治紧张局势也加剧了市场担忧。交易员和机构投资者正在应对这些经济和地缘政治压力，导致资产价值急剧下跌。 8 月 2 日，美国现货比特币 ETF 经历了三个月来最大的资金流出。分析师此前预测将回落至 54,000 美元，但随着 BTC 交易价格接近 51,000 美元，50,000 美元水平现在成为人们关注的焦点。全球领先的加密货币在 2024 年 3 月创下历史新高，并有望在 7 月超越该水平，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.

长期交易者抓住买入机会尽管价格下跌，但长期交易者仍将这次低迷视为潜在的买入机会。历史数据表明，在市场低迷时期买入可以在市场反弹时产生可观的回报，这种策略被称为“逢低买入”。一些专家认为，当前的价格为投资者提供了一个独特的机会，可以以大幅折扣购买 BTC 和 ETH 等资产，并在市场复苏后获得可观利润。谷歌趋势数据表明，人们对“逢低买入”一词越来越感兴趣，这表明更多交易者可能会接受这一策略。

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.

比特币（BTC）价格分析从价格图表中可以明显看出，比特币（BTC）已经经历了严重的崩溃。全球领先的加密货币在周末暴跌，当前交易时段已下跌近 12%。加密货币市场总价值已蒸发超过 2700 亿美元，其中 BTC 和 ETH 由于投资者抛售风险资产而大幅下跌。

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 的价格已达到 2024 年 2 月以来的最低水平，当前交易时段跌至 49,360 美元，卖家甚至突破了 50,000 美元的价格水平。

Source: TradingView

来源：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.

在尝试突破 70,000 美元失败后，比特币上周一直处于亏损状态。看跌情绪盛行，到周五，BTC 价格已跌至 61,786 美元，收盘价略高于 200 日移动平均线。周六，BTC 在下跌 1.29% 后跌破 200 日移动平均线，将价格推低至 60,992 美元。市场因素周日抛压加剧，导致BTC下跌4.41%。因此，BTC 跌破了关键的 60,000 美元价格水平，暴跌至 58,301 美元。当前交易日中，BTC 下跌近 12%，目前该资产交易价格为 51,737 美元。价格已从 49,360 美元的低点回升至 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.

从图表中可以明显看出，买家正试图将 BTC 推回到 55,000 美元以上，如延长的尾部所示。这表明交易者正在较低水平买入，这可能有助于抑制价格下跌。如果 50,000 美元的水平作为支撑，随着买家在此水平进入市场，我们可能会看到 BTC 出现一定程度的复苏。 RSI也已达到超卖区域，表明短期内价格有企稳的潜力。

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.

以太坊 (ETH) 价格分析由于恐惧笼罩着传统市场和加密货币市场，以太坊 (ETH) 在 2024 年转为负值。 ETH 在过去 24 小时内下跌了 21%，与每周数据相比下跌了近 32%。由于悲观的经济前景和中东危机加剧等多种因素的推动，周末看跌情绪升级，加密货币失去了关键的支撑位。与其他加密货币一样，ETH 上周大部分时间都处于亏损状态，但周末的抛售却是史无前例的。周五，看跌情绪开始加剧，ETH 下跌近 7%，跌破 3,000 美元支撑位，最终收于 2,987 美元。

Source: TradingView

来源：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.

整个周末，ETH 继续下跌，周六下跌 2.79%，收于 2,904 美元。 ETH 在 2,800 美元至 2,850 美元之间有强大的支撑位。周日，ETH 暴跌 7.41%，跌至 2,688 美元，这一点被突破。当前交易日 ETH 下跌 13.50%，目前价格为 2,319 美元。卖家将 ETH 推至 2,128 美元的低点，引发了人们对价格可能跌破 2,000 美元的担忧。然而，需求出现较低水平，表明有支撑，并且从价格图表中可以看出，ETH 成功复苏。 RSI 也已滑入超卖区域，表明我们可能会看到价格有所回升。

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.

如果买家帮助 ETH 复苏，它将首先尝试突破 2,500 美元，然后目标是收复 2,850 美元的支撑区域。 BTC 和 ETH 现货 ETF 出现大量资金流出，表明更广泛的投资者正在经历近期加密货币市场的低迷。

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）价格分析随着加密货币市场的大幅下跌，Solana（SOL）也出现了大幅下跌，过去24小时价格下跌了近14%。上周加密货币市场一直处于看跌状态，尽管 SOL 开局表现不错，一度升至 200 美元，但随着周一价格跌至 182 美元，市场转为看跌。

Source: TradingView

来源：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.

到周五，SOL 已跌破 20 日移动平均线，收于 152 美元，略高于 50 日移动平均线。周末，看跌情绪和波动加剧，周六 SOL 跌破 150 美元，跌破 50 日和 200 日移动平均线，收于 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.

周日，SOL 跌破 140 美元，触及 131 美元低点，随后回升并收于 138 美元。当前交易日看跌情绪激增，SOL 下跌超过 11%。卖家将 SOL 推低至关键的 120 美元水平以下，价格跌至 109 美元的低点，并增加了进一步跌破 100 美元的可能性。然而，较低水平的强劲需求可能推动 SOL 回到 120 美元上方。该资产目前交易价格为 123 美元。由于 RSI 徘徊在超卖区域上方，我们可能会在短期内看到复苏。

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.

分析师此前预测，如果 SOL 跌破 120 美元，价格可能会跌至 105-107 美元支撑区域。然而，ETH 已成功回升至 120 美元上方。如果从该水平恢复，SOL 目标可能会达到 140 美元，然后升至 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) 价格分析随着周末抛售加剧，Ripple (XRP) 过去一周暴跌 23%。过去 24 小时内，该资产损失了近 15%。然而，尽管大幅下降，分析师仍对复苏持乐观态度。与其他加密货币一样，XRP 在周末遭受重创，当前交易日损失惨重，XRP 下跌超过 10%。

Source: TradingView

来源：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 在触及 0.659 美元高点后转为看跌，自周三以来一直处于亏损状态。到周五，XRP 已跌破 20 日移动平均线，收于 0.560 美元。周六，XRP 价格仅小幅下跌 0.87%，维持在 0.55 美元上方。然而，周日抛售压力加剧，导致 XRP 下跌近 6% 至 0.523 美元。当前交易日 XRP 下跌近 11%，价格跌破 $