⚡️ Pavel Durov's arrest has been extended for another 48 hours

At the end of this period, the founder of #Telegram must either be released or formally charged.

The platform itself has already commented on Durov's detention, stating that it complies with all standards and EU laws. However, its owner should not be held responsible for misuse of the messenger.

Meanwhile, Justin Sun has proposed creating the #FreePavel DAO and donating $1 million to help resolve the situation.

#CryptoNews

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🪙 #Bitcoin has fallen below the key level of $60,000 — let's figure out what's going on

Last night, #BTC tested a local low at $57,910. This happened due to several factors:

🔽 Over the past 24 hours, more than $287 million in long positions were liquidated

🕯 Interest in BTC futures has dropped by 7%

📉 Bitcoin address activity has fallen to a two-month low

It is likely that market participants are preparing for September, which historically has been unfavorable for cryptocurrencies. Over the last 11 years, 72.73% of the time, the first month of the fall ended with a decline in prices.

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#CryptoNews

🧭 The Fear and Greed Index has dropped to 30 (Fear)

Amid falling cryptocurrency prices, the index has moved into the red zone, indicating investors' uncertainty about the market's growth prospects in the near future.

However, it is important to remember that extreme fear levels on the index can be a signal of a good entry point into assets for long-term investors 📈

#CryptoNews

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📈 #TON pumped bue to translation errors

After news emerged that #PavelDurov had been released from the courtroom, #Toncoin instantly surged by 10%. However, the news turned out to be premature.

In the original publication, which was mistranslated and widely shared by thematic channels, it was stated that the founder of #Telegram had merely changed his procedural status.

As of now, #Durov has indeed been released from custody but placed under judicial supervision. He is prohibited from leaving France and must post bail of €5 million and report to the police twice a week 👮

#CryptoNews

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📆 Main Event of the Day: PCE Data Release

Today at 12:30 PM GMT, the core Personal Consumption Expenditures (PCE) price index will be released in the U.S., reflecting the actual level of inflation.

If the published data exceeds 2.7%, the market could expect strong volatility, as this may influence expectations regarding the Federal Reserve's interest rate policy 🕯

#CryptoNews

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🐳 Whales are Buying Up #Bitcoin Amid Investor Panic

At the moment, most retail investors are selling their #BTC at a loss, fearing a further decline, which puts pressure on the digital gold’s price. Meanwhile, whales are actively accumulating coins. In the last 30 days alone, they have acquired over 133,000 BTC, worth around $7.6 billion.

At the same time, conservative market participants, such as JPMorgan, do not see potential for cryptocurrency growth, even considering the possible rate cuts on September 18.

🔥 — We will soar in Q4
🌚 — We’re not going anywhere, time to sell
🗿 — We'll soar right after I sell

#CryptoNews

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🔽 #Bitcoin Drops Amid Sell-Off in U.S. Stock Markets

Today, the price of #BTC fell below $57,000. The decline happened in two phases: first, due to uncertainty about further growth driven by negative performance of U.S. company stocks, and then because of the weakness in Asian markets.

The market decline is also linked to weak business activity data for August. Altcoins in the top 100 are showing an average drop of 10%, and the liquidation volume reached around $200 million.

#CryptoNews

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🖼 The NFT market has completely collapsed

A recent market report from #NFTevening shows that 96% of collections are currently dead. The study included more than 5,000 collections and 5 million transactions. Experts analyzed trading volumes over the past 5 years, social media activity of the projects, and the PnL (profit and loss) for each holder.

Additionally, the report states:

📉 The average lifespan of a collection is 1.14 years, which is 2.5 times shorter than the average lifespan of other crypto projects.

🗓 In 2023, the highest number of "dead" #NFTs was recorded — one-third of all created collections.

🔽 On average, holders have incurred losses of 44.5%.

It seems that the remaining 4% of live and profitable projects are exclusively limited to collections from #DonaldTrump 🤔

#CryptoNews

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🧭 The Fear and Greed Index has dropped to 22 — indicating extreme fear

Meanwhile, the volume of Google searches for keywords like #bitcoin, #crypto, and #cryptocurrency has fallen to the level of October last year. This indicator is quite important for predicting market trends. For example, the peak of search queries occurred from March 3 to 9 this year, right before #BTC reached its new ATH.

#CryptoNews

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