BlockBriefly

Date: September 25, 2024

Market Cap 24h Change: -2.16%

Reason:

The market has been down by -2.16%, but the reason is not clear.

Date: September 23, 2024

Market Cap 24h Change: -0.17%

Reason:

The market has been largely stable.

Date: September 21, 2024

Market Cap 24h Change: -0.95%

Reason:

The market has been down by -0.95% because of several negative developments:

• Cardano founder Hoskinson's warning about Trump's DeFi venture could spark political backlash, affecting market confidence.
• Dormant Bitcoin miner wallets have resurfaced after roughly 15 years of inactivity to move 250 BTC, valued at over $15 million, which may cause concerns about sell-offs.
• German authorities shutting down 47 cryptocurrency exchanges for facilitating crime has likely contributed to negative sentiment.
• BlackRock amending its custody agreement with Coinbase, requiring 12-hour withdrawals amid debt rumors, may have caused uncertainty.
• North Korea-linked hack costing crypto exchange BingX $52 million in crypto has likely shaken investor confidence.
• Recent banking crisis risks and downside risks in Bitcoin, Ether, highlighted by well-known figures and trading data, may have added to the overall uncertainty.
• Significant movement of over 150,000 ETH to exchanges in the last 24 hours has probably raised concerns about potential selling pressure.

Date: September 19, 2024

Market Cap 24h Change: 3.30%

Reason:

The market has been up by 3.3% because of several positive developments:

• Bitcoin broke $62,326.36, marking a significant increase and the highest since mid-August.
• Positive US jobs data and anticipation of a Federal Reserve rate cut have boosted market sentiment, with Bitcoin surging above $63,000, gaining 6.5% in 24 hours.
• Speculation and rumors about the imminent approval of a spot Bitcoin ETF have generated significant optimism within the market.
• The Federal Reserve's recent rate cut of 0.50% has sparked a bullish wave in Bitcoin, contributing to the overall market rise.
• Historically, October has been a strong month for Bitcoin, and this seasonal trend is supporting bullish sentiment.

Date: September 17, 2024

Market Cap 24h Change: 1.88%

Reason:

The market has been up by 1.88% because of several positive developments:

• Bitcoin exchange reserves have dropped to levels last seen in 2018, indicating strong accumulation and reduced selling pressure.
• Rumors and speculation about the imminent approval of a spot Bitcoin ETF have generated significant optimism.
• Bitcoin surged past $61,000 amid speculation of a Federal Reserve rate cut, which could positively impact liquidity in the markets.