On August 12, Bitcoin experienced a sharp spike in volatility, initially dropping 3.2% to $57,844 in under an hour before rebounding by 5% to reach $60,700 within the next thirty minutes. This sudden price swing reflects the uncertainty in the macroeconomic environment, particularly following remarks from a U.S. Federal Reserve governor over the weekend. These comments also contributed to a surge in gold prices, which climbed to $2,458, just 1% below its all-time high.
The potential for an economic downturn poses the biggest risk for a Bitcoin price crash. Traders are now questioning whether Bitcoin might retest its August 5 low of $49,248, especially given the declining interest in leveraged BTC longs and the increasing risk of a correction in the global stock market.
JPMorgan economists have raised the probability of a U.S. recession in 2024 to 35%, up from a previous estimate of 25%. This adjustment, as reported by Bloomberg, is due to weak labor market conditions and a restrictive Federal Reserve policy. On August 10, Fed Governor Michelle Bowman stated that inflation risks persist and the labor market remains weak, reducing the likelihood of an interest rate cut in September. Investors are now eagerly awaiting the U.S. Producer Price Index on August 13 and the Consumer Price Index on August 14, which are expected to offer clues about the Fed’s next moves.
To better understand the recent Bitcoin price volatility, it’s important to analyze the Bitcoin futures markets. BTC monthly futures carry an inherent cost due to their extended settlement period, with sellers typically demanding a 5% to 10% annualized premium to compensate.
The annualized Bitcoin futures premium fell to 6% on August 12, down from 9% on August 11 as Bitcoin retested the $58,000 support level. Although this level remains within the neutral range, it indicates a lack of demand for leverage from bulls—a trend that has persisted since July 30, the last time the premium exceeded 10%.
To assess whether this sentiment shift is isolated to the futures market, it’s useful to examine Bitcoin options markets. The delta skew metric, which indicates market sentiment, has remained stable over the past week, suggesting no significant imbalance in the pricing of put (sell) and call (buy) options. Despite the recent price drop, there are no signs of stress, and the market remains neutral.
One explanation for this neutral sentiment could be the reduction of excessive leverage in the market. The recent volatility likely reduced demand for leverage, with both bulls and bears facing liquidations totaling $634 million in BTC futures. However, this doesn’t fully explain why Bitcoin futures open interest remains at $28.8 billion.
The most likely reason for the current sentiment is the rise of “cash and carry” strategies, where traders engage in fixed-income operations to capture the futures premium, rendering market direction irrelevant. This suggests that Bitcoin derivatives are becoming less reliant on retail trading, with CME emerging as the leader with a 29% market share. Even with ongoing price volatility, there is no clear indication that traders are turning bearish or that excessive liquidation could lead to a significant drop down to $52,000.
Trump Rides Doge could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Trump Rides Doge (TRUMPDOGE), a new Solana memecoin that was launched recently, is poised to explode over 16,000% in price in the coming days.
This is because TRUMPDOGE is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Trump Rides Doge can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Trump Rides Doge could become the next viral memecoin.
Trump Rides Doge launched with over $3,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Trump Rides Doge on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Trump Rides Doge by entering its contract address – HyXezze9ZQPGxAPwY3NcJpFUbLpYT4ckbkwKQuB2fijW – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like TRUMPDOGE.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
New Pepe could turn early investors into multi-millionaires, like other memecoins, such as Shiba Inu (SHIB) and Dogecoin (DOGE), did.
New Pepe (NEWPEPE), a newly launched Solana memecoin, is set to explode over 16,000% in price in the coming days.
This is because NEWPEPE is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and cause its price to rally, which will benefit investors who buy before these new exchange listings.
Currently, New Pepe can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and New Pepe could become the next viral memecoin.
New Pepe launched with over $20,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy New Pepe on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for New Pepe by entering its contract address – FoLAyD1Jr7TVitmAuJBSJMSaLriWhc1qShbzcLNQHtA1 – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like NEWPEPE.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Jesus Pepe could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Jesus Pepe (PEPEJES), a new Solana memecoin that was launched recently, is poised to explode over 15,000% in price in the coming days.
This is because PEPEJES is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Jesus Pepe can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Jesus Pepe could become the next viral memecoin.
Jesus Pepe launched with over $19,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Jesus Pepe on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Jesus Pepe by entering its contract address – J4WnbiDvWNQv4s1f6L4ypTrcTzrkvQDqnYv1NmThzWKY – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPEJES.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Trump Rides Doge could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Trump Rides Doge (TRUMPDOGE), a new Solana memecoin that was launched recently, is poised to explode over 17,000% in price in the coming days.
This is because TRUMPDOGE is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Trump Rides Doge can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Trump Rides Doge could become the next viral memecoin.
Trump Rides Doge launched with over $3,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Trump Rides Doge on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Trump Rides Doge by entering its contract address – HyXezze9ZQPGxAPwY3NcJpFUbLpYT4ckbkwKQuB2fijW – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like TRUMPDOGE.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
New Pepe could turn early investors into multi-millionaires, like other memecoins, such as Shiba Inu (SHIB) and Dogecoin (DOGE), did.
New Pepe (NEWPEPE), a newly launched Solana memecoin, is set to explode over 16,000% in price in the coming days.
This is because NEWPEPE is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and cause its price to rally, which will benefit investors who buy before these new exchange listings.
Currently, New Pepe can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and New Pepe could become the next viral memecoin.
New Pepe launched with over $20,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy New Pepe on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for New Pepe by entering its contract address – FoLAyD1Jr7TVitmAuJBSJMSaLriWhc1qShbzcLNQHtA1 – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like NEWPEPE.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Jesus Pepe could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Jesus Pepe (PEPEJES), a new Solana memecoin that was launched recently, is poised to explode over 15,000% in price in the coming days.
This is because PEPEJES is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Jesus Pepe can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Jesus Pepe could become the next viral memecoin.
Jesus Pepe launched with over $19,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Jesus Pepe on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Jesus Pepe by entering its contract address – J4WnbiDvWNQv4s1f6L4ypTrcTzrkvQDqnYv1NmThzWKY – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPEJES.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Trump Rides Doge could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Trump Rides Doge (TRUMPDOGE), a new Solana memecoin that was launched recently, is poised to explode over 17,000% in price in the coming days.
This is because TRUMPDOGE is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Trump Rides Doge can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Trump Rides Doge could become the next viral memecoin.
Trump Rides Doge launched with over $3,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Trump Rides Doge on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Trump Rides Doge by entering its contract address – HyXezze9ZQPGxAPwY3NcJpFUbLpYT4ckbkwKQuB2fijW – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like TRUMPDOGE.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
New Pepe could turn early investors into multi-millionaires, like other memecoins, such as Shiba Inu (SHIB) and Dogecoin (DOGE), did.
New Pepe (NEWPEPE), a newly launched Solana memecoin, is set to explode over 16,000% in price in the coming days.
This is because NEWPEPE is set to soon be listed on numerous crypto exchanges, according to reports.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and cause its price to rally, which will benefit investors who buy before these new exchange listings.
Currently, New Pepe can only be purchased via Solana decentralized exchanges, like Jup.ag and Raydium.io, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and New Pepe could become the next viral memecoin.
New Pepe launched with over $20,000 of liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy New Pepe on Raydium.io or Jup.ag ahead of the CEX listings, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for New Pepe by entering its contract address – FoLAyD1Jr7TVitmAuJBSJMSaLriWhc1qShbzcLNQHtA1 – in the receiving field.
If you don’t have one of these wallets already, you can create a new wallet in a few minutes and transfer some Solana to it (which will then be used to buy the memecoin), from an exchange like Coinbase, Binance and many others.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like NEWPEPE.
Such memecoins have no utility and no inherent value, but investors looking for high gains have been investing in them due to their potential to rapidly rise in price.
Morgan Stanley, the largest wealth manager in the United States, is likely to face intense compliance scrutiny after permitting its entire team of financial advisers to start pitching spot Bitcoin exchange-traded funds (ETFs). This move has drawn criticism from crypto skeptic John Reed Stark, a former U.S. Securities and Exchange Commission (SEC) official.
“By unleashing its legion of 15,000 brokers to pitch Bitcoin, Morgan Stanley has just voluntarily subjected themselves to what will likely become the largest SEC and FINRA examination sweep in history,” Stark wrote in an August 9 statement on X (formerly Twitter). He added, “Identifying violations will be like shooting fish in a barrel. So whoever Morgan Stanley’s current compliance director is — well, good luck with that.”
Stark explained that both the SEC and the Financial Industry Regulatory Authority (FINRA) will have immediate access to all records, documents, emails, texts, voicemails, and phone conversations related to Morgan Stanley’s Bitcoin sales to retail investors. “This resplendent, abundant, and easily accessible treasure trove of evidence will be available to the SEC and FINRA not only with the click of a mouse in the form of a request for documents or testimony but also upon demand during an on-site surprise ‘for-cause’ inspection,” Stark warned, calling the move “Morgan Stanley’s death wish.”
The criticism follows reports that Morgan Stanley authorized its 15,000 financial advisers to start recommending spot Bitcoin ETFs to high-net-worth clients. A source familiar with the matter confirmed to Cointelegraph on August 7 that the firm plans to endorse two Bitcoin ETF products: BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund.
Crypto industry commentators believe Morgan Stanley’s move could be significant for Bitcoin. Haseeb Qureshi, managing partner at crypto venture fund Dragonfly, commented on X, “Expect to see some chunkier inflows in the second half of the year,” adding, “Can you imagine how big this is?”
Since the approval of spot Bitcoin ETFs on January 11, they have attracted $17.3 billion in inflows, according to data from Farside.