Bitcoin continues to distance itself from the $30,000 milestone, while Ether follows suit, joining the majority of altcoins in experiencing losses.

         👀👀👀👀👀👀👀👀👀👀👀👀👀👀👀👀


As August began, Bitcoin found itself immersed in a period of losses. The top cryptocurrency experienced a 1.87 percent decline on Tuesday, trading at approximately $28,879 (equivalent to roughly Rs. 23.7 lakh). Over the past 24 hours, the value of BTC has dropped by $546 (approximately Rs. 44,940). Industry experts speculate that this lackluster performance can be attributed to a dearth of significant macroeconomic news, making it challenging for investors to make confident decisions on the cryptocurrency's direction.

On August 1, Ether experienced more substantial losses compared to Bitcoin. The second-most valuable cryptocurrency faced a decline of 2.33 percent, causing it to trade at approximately $1,825 (roughly Rs. 1.50 lakh).

Shubham Hudda, the Senior Manager at CoinSwitch Markets Desk, offered insights into the market situation, stating that the crypto market underwent selling pressure in the last 24 hours. From a technical analysis perspective, Hudda suggested that Bitcoin might find support at around $27,000 (roughly Rs. 22 lakh) if the bullish trend line is respected. This support level could potentially lead to a reversal in the market's trend for the day.




Comments

Post a Comment

Popular posts from this blog

IBM and NASA deploy open-source geospatial AI foundation model on Hugging Face

Image
Hugging Face, the popular platform for open-source models, has just added yet another valuable addition to its repository. IBM and NASA have joined hands to introduce the watsonx.ai geospatial foundation model on Hugging Face, marking a significant milestone in the world of AI and climate science. The development of this remarkable model was initially revealed back in February, with the primary goal of harnessing the potential of vast volumes of satellite imagery. By leveraging this data, the model aims to contribute to the advancement of climate science and ultimately enhance life on our planet. The open-source model was meticulously trained on NASA's Harmonized Landsat Sentinel-2 satellite data (HLS) and went through additional fine-tuning using labeled data for various specific use cases, including burn scar and flood mapping. This rigorous training process ensures that the model is well-equipped to provide accurate and valuable insights into critical geospatial applications. By...
Read more

Israeli oil refinery BAZAN Group website reportedly down due to DDoS attack

Image
  As of now, BAZAN Group, the largest oil refinery operator in Israel, is facing accessibility issues with its corporate websites from most parts of the world. Users attempting to access the websites bazan.co.il and eng.bazan.co.il have encountered HTTP 502 errors or access denied (403) messages from the company's servers. Reports indicate that the websites were targeted by a distributed denial-of-service (DDoS) attack. Furthermore, Twitter messages suggest that an Iranian hacktivist group called Cyber Avengers, also known as CyberAv3ngers, has claimed responsibility for compromising BAZAN Group's systems. The group stated on a Telegram channel that it successfully breached BAZAN's network over the weekend. This cyber incident is currently under investigation, and measures are being taken to address the situation and restore normal operations for the affected websites. Full Story
Read more