Bitcoin and Ethereum Prices Drop amid the Ongoing Winding Down of the Japanese Yen Carry Trade and Presidential Polls in the US-web3.0-php.cn

Bitcoin and Ethereum Prices Drop amid the Ongoing Winding Down of the Japanese Yen Carry Trade and Presidential Polls in the US

王林

Aug 06, 2024 am 12:58 AM

bitcoin Ethereum ETFs liquidity crisis

Ethereum (ETH) has dropped by over 22% in the past 24 hours and by 32% in the last 7 days while Bitcoin (BTC) fell by 16% and 26%, respectively.

Bitcoin and Ethereum Prices Drop amid the Ongoing Winding Down of the Japanese Yen Carry Trade and Presidential Polls in the US

Bitcoin and Ethereum prices continued to drop on Sunday evening as the ongoing winding down of the Japanese yen carry trade and presidential polls in the US hit risk assets.

Ethereum (ETH) price dropped by more than 22% in the past 24 hours and by 32% in the last 7 days. On the other hand, Bitcoin (BTC) price fell by 16% and 26%, respectively.

Bitcoin, Ethereum prices drop as polls show Kamala Harris leading Trump

Bitcoin and Ethereum prices have dropped sharply in the past few days as traders reacted to the ongoing geopolitical issues in the Middle East, rising chances of a US recession, and weak technicals.

After dropping to a low of $57,000 on Friday, BTC price recovered and started the new weekend trading at $58,000. However, it dropped sharply on Sunday morning and hit a low of $55,000.

After rising above $2,200 on Friday, ETH price also started the weekend trading at $2,000. Like Bitcoin, it dropped sharply on Sunday morning and hit a low of $1,500. Other altcoins also dropped sharply.

In a series of X posts, Peter Schiff, a well-known crypto bear and gold bull, warned that Bitcoin and Ethereum Exchange Traded Funds could have a liquidity crisis on Monday.

He argues that the ETFs will have to account for the weekend losses and those happening on Monday. As a result, if ETF investors sell, then liquidations would overwhelm the spot market.

#Bitcoin just sank below $58K. If it takes out it's July low by tomorrow's U.S. #StockMarket open, #BitcoinETFs will gap down by more than 15%, 30% below their Jan. highs. A loss of that magnitude may finally trigger mass ETF liquidations. If so, brace for a #Crypto black Monday.

Peter Schiff has a long history of being negative on Bitcoin and Ethereum, which he believes are worthless assets. However, historical data shows that the two assets have outperformed gold – his favorite asset – by far.

Despite the ongoing sell-off, Bitcoin has risen by 21% this year while gold is up by 15%. In the last five years, BTC has risen by 360% while gold is up by less than 80%.

Bitcoin and Ethereum prices dropped sharply on Sunday as polls showed that Kamala Harris has a higher chance of beating Donald Trump in the upcoming presidential polls.

While Polymarket has Trump with a 53% chance of winning, Kamala has narrowed his lead in the $500 million bet. PredictIt has Kamala Harris beating Trump.

Trump has also trailed Biden in the polls, which have shown that the chances of him winning are less than 50%. Still, he has maintained that the polls are “totally rigged.”

Kamala Harris has emerged as one of the favorites to win the Democratic nomination after strong performances in the debates and polls showing that she is the favorite to beat Trump.

Still, Biden remains the favorite to win the nomination with a 30% chance of winning the presidency, according to Polymarket. Trump has a 24% chance while Kamala has an 18% chance, according to the platform.

Bitcoin and Ethereum prices dropped sharply after polls showed that Kamala Harris has a higher chance of beating Donald Trump in the upcoming presidential polls.

While Polymarket has Trump with a 53% chance of winning, Kamala has narrowed his lead in the $500 million bet. PredictIt has Kamala Harris beating Trump.

Trump has also trailed Biden in the polls, which have shown that the chances of him winning are less than 50%. Still, he has maintained that the polls are “totally rigged.”

Kamala Harris has emerged as one of the favorites to win the Democratic nomination after strong performances in the debates and polls showing that she is the favorite to beat Trump.

The above is the detailed content of Bitcoin and Ethereum Prices Drop amid the Ongoing Winding Down of the Japanese Yen Carry Trade and Presidential Polls in the US. For more information, please follow other related articles on the PHP Chinese website!

Statement

The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn

Trend Research Analysis: ETH optimistic forecast is $10,000 in the new cycleMay 14, 2025 pm 10:51 PM

Since the entire research report was released on April 24, 2025, TrendResearch has risen from US$1,800 to around US$2,400, with an increase of about 30% in one month. The prediction before the research report was written was even more than US$1,450. As an asset target of a scale of 100 billion, it is a rare opportunity for large funds to achieve high returns in the short term. The main reasons for firmly bullish at that time include: ETH still has stable financial data, and its status as an important infrastructure for encryption has not changed; the short-term high has been greatly adjusted (the decline of more than 60% in four months); the derivatives market has a huge short position, and the bottom spot has risen to an important support and resistance swap area after increasing volume, which is traditional financial

What is Sign Protocol (SIGN)? Guide to getting started with cross-chain verification networksMay 14, 2025 pm 10:48 PM

Blockchain technology continues to change the way people exchange value, verify information and build trust online. As decentralized applications flourish in various industries, the ability to confirm statements and identities across multiple blockchains has become increasingly important and complex. Traditional trust models that rely on centralized authority are often insufficient to support a decentralized ecosystem, so the demand for blockchain native verification solutions is also growing. SignProtocol (SIGN) addresses this challenge by providing a framework for creating, verifying, and managing proofs across multiple blockchain networks. SignProtocol aims to create a full chain

Bitget announces VOXEL transaction rollback! The user will be compensated for the lossMay 14, 2025 pm 10:45 PM

Cryptocurrency exchange Bitget recently announced that it will roll back transactions during this period due to abnormal trading fluctuations in the VOXEL contract market and propose compensation plans. However, the use of the statement "user manipulates the market" in the official announcement has caused doubts about its improper handling of public relations, fearing that this will lead to further expansion of the crisis. The abnormal trading of BitgetVOXEL tokens has caused internal market making concerns between 8:00 and 8:30 am yesterday Beijing time, an abnormal trading event of VOXEL tokens broke out on the Bitget Exchange. The trading volume during this period even exceeded Bitcoin for a time, causing the market to question the transparency of its internal operations. After the incident occurred due to the violent fluctuation of VOXEL token prices, the community began to question the possibility of Bitget

What is KuCoin Exchange? KuCoin novice account registration teaching and security analysisMay 14, 2025 pm 10:42 PM

What is the KuCoin Exchange? KuCoin Exchange Background KuCoin Exchange Brand Story Is KuCoin Exchange safe? The first step in KuCoin account registration teaching: Register a KuCoin account step in the second step: Complete the third step of identity verification: Start two-step verification and add-on screening: KuCoin's unique GemSPACE summary KuCoin is the top 15 cryptocurrency exchanges in the world. It uses the trading platform of the whole nation as the concept, providing a safe and convenient trading experience. This article will provide you with an in-depth look at the background, security, account opening process and how to leverage KuCoin's unique Ge

What is ALPACA currency? After Binance was removed, the price of the coin soared. What is the future prospect of $ALPACA?May 14, 2025 pm 10:39 PM

Catalog ALPACA Coin Latest News and Price Updates What is AlpacaFinance (ALPACA)? How does AlpacaFinance work? What is ALPACA currency? ALPACA Token Economics ALPACA Price Trend Analysis 2025 ALPACA Price Forecast AlpacaFinance (ALPACA) Future Outlook How to buy ALPACA Coin? Summary AlpacaFinance (ALPACA) is a lending protocol on Binance Smart Chain, with the characteristics of leveraged income agriculture. Since Binance announced that it will be removed from AL on May 2

Arthur Hayes analysis: Now may be the last chance to get on the car for Bitcoins under $100,000May 14, 2025 pm 10:36 PM

Arthur Hayes, the founder of BitMex, who we are familiar with, once again made a statement on the market! This time he said on the X platform: "Seriously, relatives, now may be your last chance to buy Bitcoin below 100,000 yuan." In the Bitcoin rise in the past 30 hours, Arthur Hayes posted: "Just like the Easter Bunny, the price of $BTC will jump five times in a row!" Hayes also revealed that he will release a new article this week, with the theme of "BBCBazooka" and Treasury bond repurchase. ArthurHayes has been predicting a price decline after the price of Bitcoin fell to within 90,000 yuan, but now it has turned bullish. Looking back on his predictions for Bitcoin over the past few months, although specific numbers may

Cardano (ADA) 2025–2028 10x potential analysis: The path to revaluation of smart contract platformsMay 14, 2025 pm 10:33 PM

Cardano (ADA) 10x potential analysis for 2025–2028: The path to revaluation of value of smart contract platforms The current ADA price is about $0.778. If 10x growth is achieved, the potential price in the future will reach $7.78 and the market value is about $270 billion. This prediction is not a fantasy, but is based on Cardano's strong potential driven by multiple factors such as technological innovation, ecological expansion and market demand. 1. Technology Progress: The Combination of Smart Contracts and Zero Knowledge Proof Since Vasil upgraded, Cardano's smart contract platform Plutu

What currency is SWCH? Is it worth investing? Detailed tutorial on purchasing SWCH coinsMay 14, 2025 pm 10:30 PM

Cryptocurrency market projects have emerged with the development of blockchain, with the purpose of changing traditional financial practices, and SwissCheese is one of them. It is understood that SwissCheese is a decentralized platform that allows users to trade tokenized stocks, aiming to enhance market access and reduce transaction costs, paving the way for a more inclusive financial environment. The native token of the platform is SWCH, and its main functions are transactions, governance, etc. The project immediately attracted investors' attention after it went online, but only know what currency is SWCH? Can't we analyze that SWCH is worth investing in? Based on the current data, SWCH has a certain