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Bitcoin Tumbles to $53K, Ether Turns Negative for 2024 😱

Key Bitcoin Price Levels as Investors Abandon Risk-On Assets, BTC Down Big - Wiping Out $600M in Leveraged Longs, Stock to Flow Chart, and more

AuthorAuthor

Traci Smith & Mike Cullison
August 05, 2024

GM 💡 We hit a low of 31 on the Fear & Greed Index 😯 How are you feeling about today? Here is your 5-minute read to get you caught up on the big movers over the weekend.

In Today’s Crypto World:

  • Bitcoin Tumbles to $53K, Ether Turns Negative for 2024 😱

  • Key Bitcoin Price Levels as Investors Abandon Risk-On Assets 📉

  • BTC Down Big - Wiping Out $600M in Leveraged Longs 🤕

  • Gainers & Newbies 👀

  • Thor God of Thunder ‼️

  • Stock to Flow Chart 🔬

OWLGO’S NEWS NEST
3 TRENDING HEADLINES 💡

Bitcoin Tumbles to $53K, Ether Turns Negative for 2024 as Panic Grips Markets

Japan's Nikkei fell more than another 6% early Monday, bringing that index's three-day decline to about 15%.

www.coindesk.com

Watch These Key Bitcoin Price Levels as Investors Abandon Risk-On Assets

Bitcoin Suffers Largest Weekly Decline Since November 2022

finance.yahoo.com

Bitcoin crashes below $53K, wiping out $600M in leveraged longs

More than $644 million in leveraged long positions have been wiped out as Bitcoin falls below $53,000 for the first time in six months.

cointelegraph.com

DEGEN PLAYS
GAINERS & NEWBIES 👀

*Market insights are updated daily.

VEVE & NFT
THOR GOD OF THUNDER ‼️

CHART OF THE DAY
WHAT IS STOCK TO FLOW 🔬

What Is Stock To Flow (S2F)?

Stock to flow is a forecasting tool for Bitcoin price.

It creates a line on the chart above that shows an estimated price level based on the number of bitcoins available in the market relative to the amount being produced (mined) each year.

The score on the stock to flow line is the forecasted price for bitcoin at that particular time. By hovering your cursor over the line on the chart, you can see the forecasted price. To date, it has broadly forecasted price correctly as $BTC price has followed the stock to flow line.

As the amount of bitcoins to be mined reduces over time, the stock to flow number (s2f ratio) increases, as supply coming onto the market is reducing. That is why this model is forecasting that the price of Bitcoin will increase in the future.

OWL’S EYE VIEW
CRYPTO VIDEO SPOTLIGHT - WHAT IS AXIE INFINITY? 🔦

HOOT’S OF ENLIGHTENMENT
WHAT IS JASMY? 💡

JasmyCoin (JASMY) is a blockchain-based platform focused on data security and user privacy. Key points include:

  1. Data Sovereignty: JASMY empowers users to control and monetize their own data, ensuring privacy and ownership.

  2. IoT Integration: It seamlessly integrates with Internet of Things (IoT) devices, enhancing data protection and management in the digital age.

  3. Enterprise Solutions: JASMY provides businesses with tools to secure user data, comply with regulations, and build trust.

  4. Decentralization: Utilizing a decentralized network, JASMY enhances data security and reduces reliance on centralized systems.

These features make JASMY a pioneering platform for data security, offering innovative solutions for both individuals and enterprises.

OWLGO’S HOOT BUZZ
OWLGO’S HOT X POST 🚀

OWLGO’S LOLS
DAILYMEMES 🤣

Brought To You By: DailyGainsCrypto.com

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.05/31/202406/12/