BTC drops below $51,000, market sentiment remains bearish
CryptoNewsTerminal Staff05 Aug, 2024
BTC drops below $51,000, market sentiment remains bearish
BTC fell back below $51,000, according to cryptonewsterminal market monitoring. On Binance USDT market, BTC is trading at $50,929.54. The market sentiment remains bearish short term, as indicated by the fear and greed index. The broader cryptocurrency market is also in the red, with Ethereum (ETH) down 3.5% and Binance Coin (BNB) down 2.5%. Analysts say it is not yet clear if BTC has entered a bear market, but the recent price drop is a reminder that cryptocurrencies are a volatile asset class. Investors should be prepared for further volatility in the coming weeks and months.
