$300B Wiped From Crypto Markets in Days as BTC Tanks Below $110K After Powell Speech: Your Weekly Recap

It wasn’t a particularly good week for bitcoin and the broader crypto market, as almost all charts are deep in the red on a 7-day ￰0￱ all started at the end of the previous business week after BTC had jumped to $118,000 on Thursday morning following the Fed’s expected rate cut. However, the asset’s rally ran its course prematurely, and it started to lose value gradually, dropping to $116,000 by ￰1￱ weekend went as anticipated, little to no action, but then came the familiar Monday ￰2￱ went from just over $115,500 to $112,000, wiping out billions of dollars worth of leveraged ￰3￱ bulls tried to halt the freefall, but their best effort took BTC to $114,000 briefly on ￰4￱ bears quickly reemerged and initiated another couple of consecutive leg ￰5￱ culmination took place earlier on Friday when BTC plunged to $108,600.

This became its lowest price tag since the start of the ￰6￱ the most evident reason behind this collapse is the latest comments coming from US Fed Chair Jerome ￰7￱ head of the central bank sent some mixed signals regarding the inflation levels, which were interpreted as a warning sign for riskier assets like ￰8￱ BTC has recovered some ground since its local low, it’s still beneath $110,000 as of press ￰9￱ 6.2% weekly decline, though, seems negligible compared to massive double-digit price drops from the likes of ETH, DOGE, SOL, ADA, LINK, AVAX, and especially HYPE, which is down by over 25% following the rise of a new ￰10￱ more on that ￰11￱ price collapses are best highlighted by the total market cap’s plunge, which went from over $4.150 trillion at this time last Friday to under $3.850 trillion as of ￰12￱ Data Weekly Market Overview:) | ETH: $3,920 (-13%) | XRP: $2.75 (-9%) This Week’s Crypto Headlines You Can’t Miss Tether Seeks $20B Funding at $500 Billion Valuation, Dwarfing ￰13￱ company behind the world’s largest stablecoin reaffirmed its dominance in the crypto market by securing somewhere between $15 and $20 billion, according to a recent report, for a 3% ￰14￱ means that its valuation is roughly $500 billion, which is a lot more than its closest rival, Circle ($30 billion).

Fear and Greed Index Hits 5-Month Low as BTC Drops to $109K – Warning or Buying Opportunity? After losing roughly ten grand since last Thursday’s peak, the sentiment has expectedly turned ￰15￱ popular Fear and Greed Index plunged to its lowest level in roughly 5 months as a result. SBF’s ‘gm’ Tweet Sparks Speculation of Comeback Amidst New Solana-Based Perp Dex . FTX’s notorious former leader made a simple but loud comeback to social media this week, posting a minor “gm” message on ￰16￱ had a dramatic impact on FTT’s price and also led to some speculations about a Solana-based perp ￰17￱ Bitcoin Bear Market is Here… or at Least That’s What Peter Schiff Thinks .

BTC’s substantial correction gave perma-bears like Peter Schiff wings to make bold ￰18￱ bitcoin critic believes this is not a minor retracement but the start of a bear ￰19￱ Turns $300K Into $7M Profit on ￰20￱ promised before, here’s some news about Hyperliquid’s competitor, which has reportedly surpassed it in terms of ￰21￱ meteoric rise of ASTER and its native token helped one whale turn a $300,000 investment into a $7 million fortune in just ￰22￱ Predict Massive ‘Uptober’ Rally Despite This Week’s Market Rout . Let’s end the news portion with a more promising prediction in such dire ￰23￱ crypto analysts outlined big bullish projections for October (often referred to as ‘Uptober’) that include a price surge to a new all-time ￰24￱ This week, we have a chart analysis of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid – click here for the complete price analysis .