Trending Crypto Updates For This Week

Below are some of the latest reports of some Trending Crypto Updates markets including BTC and some recent happenings. There is fluctuation in bitcoin this week. Macroeconomic factors are influential in presenting the bigger market environment with instability. A brief glance at the situation Harris vs Trumps.

Another week has been completed in the crypto universe in which essential events were taking place in the broader market. As one would expect during the height of the U. S presidential election campaign period, unbelievable fluctuations were observed with the cryptocurrency prices. 

From the period of one week, bitcoin fell from as high as $68K to a struggling $60K. However, the altcoin market mostly correlates with such a volatile behavior. Below are some of the crypto market news that has flooded the hot market in the past one week.

Crypto Market Tackles Turbulence

Still, one must note that recent economic occurrences have given the flagship crypto quite the uncertainty. Thus, the current week involved the Federal Reserve in keeping the interest rates the same and leaving a troubling effect on investors as well as the markets.

However, the scope of job openings in the U. S. has added more fluctuations in to the industry as well as, scope of releasing job statistics. The U. S. unemployment rate was released and as expected was quite ‘hot’ at 4. 3 percent for July and surpassing forecast of four percent. 1%. 

Moreover, the nonfarm payrolls revealed that employers created only 114 thousand jobs in the month of July. Altogether, the presented macroeconomic factors seem to have an effect on the cryptocurrency prices during this week.

On the other hand, the market witnessed huge liquidations with Bitcoin when the price of the commodity drastically changed. Furthermore, Fidelity International an ETP of Bitcoin at LSE; that is, the London Stock Exchange.

Read more :- Turtle Trading in the Crypto Market: A Viable Strategy?

Trump Vs. Harris Saga

In the meantime, this week was rich in new events in the competition of Republican Presidential candidate Donald Trump and Democratic candidate Kamala Harris. Indeed, Harris’ new positioning as a crypto-friendly candidate seem to have attracted a lot of traffic among market participants; similarly, the chances of the Vice President have also received a boost as well in terms of probability of victory as well.

However, Donald Trump continues to have his last debate with Kamala Harris via fox news. The organizers have scheduled the showdown for September 4, and the event could alter the chances of victory for the presidential contenders. Also, Donald the younger demanded that Harris take his father on Fox News and debate with him.

Also, this week, Trump began producing and selling Bitcoin-themed sneakers in an attempt to stand for the 2024 presidency. One must also point out that the Republican received considerable amounts of BTC in the Bitcoin conference.

Other news from around the world includes the community backlash against WazirX’s 55/44 approach. Among global news, Cathie Woods’ Ark Invest sold massive amounts of COIN stock because of Coinbase’s Q2 results.