How Bitcoin Performed this Week?

Bitcoin price faced a brutal sell-off this week on August 5. The sell-off was so 'mild' that after casually dipping below $60,000, the world's favorite cryptocurrency decided to go all-in and nosedive from $58,350 to $52,500 in just two hours. It's like Bitcoin saw the edge and thought, "Why not?". Bitcoin lastly traded around $52,000 in February, shortly before the price rallied following the approval of spot Bitcoin ETFs in the U.S.

FET's Market Challenges May Lead To Potential Comeback

The recent drop in altcoin prices is hardly surprising, given the slump in traditional financial markets and our beloved crypto space. However, for holders of the FET token who were hoping for a significant growth following a merger with other projects, this downturn has been particularly discouraging.

Global Financial Shock: Market Downturn & Crypto Market Crash

At this very moment, the world is facing yet another financial shock, the largest since the infamous Black Monday of October 19, 1987 — a day when the Dow Jones Industrial Average experienced the greatest single-day percentage drop in its history, plummeting 22.6%. Global stock markets are taking a significant hit due to weak employment data from the U.S. and renewed fears of a recession.