Who’s Selling? Here’s The Demographic Driving The Bitcoin, Ethereum, And Dogecoin Price Crash

XRP has experienced a significant drop, falling to $1.81, its lowest price since April, as Bitcoin's weakness continues to pull altcoins into oversold territory. The cryptocurrency market is under pressure, with Bitcoin's price fluctuating around $85,000, reflecting a broader downturn in the sector.

Bitcoin's recent price movements have shown a weekend lull, concealing significant activity in futures and options markets, with traders positioning themselves for potential volatility. This comes as Bitcoin's price fluctuates around $90,000, following a rebound from the $80,000 mark, raising questions about market stability.

Coinbase has announced the introduction of 24/7 trading for several cryptocurrencies, including SHIB, Bitcoin Cash, and Dogecoin, enhancing its trading capabilities and user engagement. This move is part of Coinbase's ongoing efforts to expand its services and adapt to the evolving cryptocurrency market.

A hobbyist miner has achieved a remarkable feat by winning a Bitcoin block worth approximately $265,000, overcoming odds of 1 in 180 million using just one old ASIC miner. This achievement highlights the unpredictable nature of cryptocurrency mining, where even minimal resources can lead to significant rewards.

BitMine, a treasury firm focused on Ethereum, has announced the cryptocurrency industry's first-ever dividend payment, marking a significant milestone in the evolving landscape of digital assets. This development comes amidst a tumultuous year for the cryptocurrency sector, characterized by fluctuating performances of digital asset treasuries (DATs).

Bitcoin's price has experienced a dramatic drop of 30%, plunging to around $83,000, as market sentiment has reached 'extreme fear' levels, according to the Crypto Fear and Greed Index. This decline follows a week of volatility and significant sell-offs in the cryptocurrency market, exacerbated by external economic factors such as Japan's massive stimulus package.

Coinbase has executed an internal wallet migration, a standard practice in the cryptocurrency industry aimed at enhancing cybersecurity measures. This migration reflects the company's commitment to maintaining high security standards amidst evolving threats in the digital asset space.

Coinbase has reported a significant widening of its 'negative premium,' indicating weak demand in the U.S. cryptocurrency market. This premium gap has reached its widest level since the first quarter of the year, reflecting a decline in institutional interest and increased selling pressure on Bitcoin.