It’s been a rough day for crypto,crypto, with many of the industry’s leading assets in the red, including BitcoinBitcoin.
The market leader is down nearly 2% and trading at just over $9,100. Bitcoin even briefly dipped below $9,000 today, testing resistance levels. The same is true of EthereumEthereum and XRP, which are each down about 2% on the day.
And prices aren’t the only things that are down today.
While the crypto industry is no stranger to scams, it’s been a particularly bad day for exploits. Cybersecurity firm Group-IB reported today that a “sophisticated” Bitcoin scam involving fake celebrity endorsements has exposed the personal data of as many as 250,000 people.
Meanwhile, keyless crypto wallet ZenGo has also revealed today that it uncovered vulnerabilities to double-spending attacks in multiple Bitcoin wallets, including Ledger Live, Bread (BRD), and Edge, potentially leading to concerns of lagging safety.
By contrast, the mood today in the traditional market could not be more different.
The Dow Jones Industrial Average jumped nearly 100 points today, while the S&P and Nasdaq rose by 14 and 53 points, respectively. The boost follows therelease of a June jobs report which indicated that nearly 5 million jobs were added to the US economy last month, far exceeding expectations.
Retail investors are clamoring for Bitcoin, and if demand stays steady, this could cause a demand shock after the next two Bitcoin halvings.
Why?
The daily mined supply of Bitcoin will drop below the daily buyer demand, according to research from cryptocurrency derivatives exchange ZUBR.
ZUBR crunched numbers provided by blockchain analytics firm Chainalysis to forecast what Bitcoin’s market demand may look like over the next eight years. According to the firm, when Bitcoin’s daily supply issuan...
That brought the unemployment rate down to just a hair over 11%—slightly better than the monthly 12.4% estimate. Though, it’s worth noting that 11% unemployment is still historically very high, as market analyst Mati Greenspan joked on Twitter.
Bitcoin fell more than 2% on Sunday as digital assets struggled to find footing amid shifting signals from Washington on trade policy with China.
The price of the world’s largest crypto slipped to $83,482 during Asia trading hours, partially reversing last week’s gains and underperforming relative to equity markets.
Ethereum, the second-largest crypto, fell below $1,600, while altcoins posted mixed results, CoinGecko data shows.
The drop followed a weekend of mixed messages from the Trump admi...
Crypto traders are leaning into absurdity during a time of tariff volatility and broader market uncertainty, catalyzing the recent surge around Fartcoin and other Solana-based meme coins inspired by topics like flatulence and anatomical features.
Fartcoin is up 30% in the last 24 hours to $0.96, marking a 97% gain in the last seven days and nearly 250% jump in the last 30 days, according to CoinGecko.
During a time when major coins have taken hard hits and some remain well down—Ethereum is down...
Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies. This week: Robinhood and MARA Holdings were the only two crypto stocks that ended the week in the green; Coinbase gets competition for its custody biz; and why GDP isn’t all that interesting for asset managers.
Green shoots for Robinhood and MARA
Trading platform Robinhood and Bitcoin miner MARA Holdings managed to end what’s been another rollercoaster five days for markets higher than they were th...
