Perfect storm leads to big sell-off for Bitcoin and DeFi: Weekly recap
A sharp correction in equities markets led Bitcoin price and DeFi tokens to sell-off sharply but have investors turned bearish? Digital asset markets were on a parabolic surge until investor confidence took a major hit to close out the week with a bearish tilt due to a perfect storm of negativity. Before reading the rundown, catch up on the most-read stories centered around the price of Bitcoin, the macroeconomic picture and the DeFi phenomenon gaining traction. Bitcoin price, stocks and gold plunge in tandem — What’s next? Don’t panic? ‘Smart money’ whales are waiting to buy Bitcoin at $8,800 Yearn.finance’s $140M yETH vault proves investors are ravenous for DeFi Bitcoin mirrors gains of past halvings, suggesting $41K price in 2020 Ethereum gas fees reach $500K as ETH price hits a 2020-high at $486 A significant drop in equities markets was led by blue-chip stocks that had been at all-time highs.
Coin Telegraph - 4th Sep 22:09