{"id":251214,"date":"2024-08-05T11:18:05","date_gmt":"2024-08-05T11:18:05","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/05\/bitcoin-dips-below-50k-as-global-market-crashes\/"},"modified":"2025-06-25T17:13:09","modified_gmt":"2025-06-25T17:13:09","slug":"bitcoin-dips-below-50k-as-global-market-crashes","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/08\/05\/bitcoin-dips-below-50k-as-global-market-crashes\/","title":{"rendered":"Bitcoin Dips Below $50K as Global Market Crashes"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<p>The <a href=\"https:\/\/www.bitcoinmagazinepro.com\/bitcoin-price-live\/\">price of Bitcoin<\/a> plunged below $50,000 on Monday, reaching lows not seen in over six months amid a widespread global market sell-off.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">BREAKING: <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> falls below $50,000 <a href=\"https:\/\/t.co\/11og9GoSyi\">pic.twitter.com\/11og9GoSyi<\/a><\/p>\n<p>&mdash; Bitcoin Magazine (@BitcoinMagazine) <a href=\"https:\/\/twitter.com\/BitcoinMagazine\/status\/1820345902059430204?ref_src=twsrc%5Etfw\">August 5, 2024<\/a><\/p><\/blockquote>\n<p>Bitcoin dropped as much as 20% to around $49,000 before rebounding slightly to trade above $50,000 again. The steep decline coincided with crashing stock markets worldwide, fueled by recession fears.<\/p>\n<p><a href=\"https:\/\/bitcoinmagazine.com\/tags\/japan\">Japan&#8217;s<\/a> Nikkei index plunged over 8%, posting its worst two-day rout since 1987. Asian and European markets are experiencing some of the worst losses ever. In the U.S., the tech-heavy Nasdaq entered correction territory after sliding over 20% from its peak. The S&amp;P 500 fell nearly 4% over the past week.<\/p>\n<p>Rising interest rates, disappointing tech earnings, and signs of economic weakness like Friday&#8217;s U.S. jobs report have rattled investor confidence. The Bitcoin market followed stocks lower, with Bitcoin falling below $50,000 for the first time since February. The overall Bitcoin market cap shed nearly $200 billion over the weekend.\u00a0<\/p>\n<p>The <a href=\"https:\/\/www.bitcoinmagazinepro.com\/charts\/bitcoin-fear-and-greed-index\/\">Bitcoin fear and greed index<\/a> dropped into &#8220;fear&#8221; territory as prices approached six-month lows. But Bitcoin has recovered from similar crashes many times before, including a 20% single-day plunge last November.<\/p>\n<figure>\n<p>                        <img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/.image\/c_fit%2Ch_800%2Cw_1200\/MjA4MzUxMjA2OTcwNTAwNzUy\/bm-pro---fear--greed.png\" height=\"800\" width=\"845\"><\/p>\n<\/figure>\n<p>Still, some analysts warn that continued declines could signal the bull market&#8217;s end and lead to an extended bear phase. Others argue that it is just a slight correction before a new all-time high, as the global market injects more liquidity.<\/p>\n<p>The $50,000 level is seen as an important support area for Bitcoin. The latest Bitcoin crash exemplifies the asset&#8217;s volatility and correlation with speculative equities. But Bitcoin has rebounded from previous sell-offs before resuming its long-term uptrend.<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/bitcoinmagazine.com\/business\/bitcoin-dips-below-50k-as-global-market-crashes\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] The price of Bitcoin plunged below $50,000 on Monday, reaching lows not seen in over six months amid a widespread global market sell-off. BREAKING:<\/p>\n","protected":false},"author":1,"featured_media":251215,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[172],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/251214"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=251214"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/251214\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/251215"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=251214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=251214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=251214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}