The Great Bitcoin Rollercoaster
On August 15, Bitcoin (BTC) took a nosedive, experiencing a 5% dip after trying to breach the $25,000 barrier. This wasn’t just a casual stumble; it wiped out over $150 million in leveraged long positions. For traders, it was a bit like stepping on a crack and breaking their mother’s back—no one saw it coming! Now, some are eyeing the ominous yearly low lurking around the $18,000 mark.
Tech Stocks Steal the Show
Why the sudden weakness in Bitcoin? Well, the tech sector threw a tantrum too. Chinese giant Tencent is set to announce its inaugural quarterly revenue decline, projected to bring in only $19.5 billion—4% lower than last year. This unhappy news isn’t like finding out your favorite ice cream flavor is discontinued; it’s more akin to realizing the ice cream truck has gone out of business.
Zoom Facing the Music
Meanwhile, Zoom Video Communications (ZM) ran into trouble, receiving a
+ There are no comments
Add yours