Will the Fed and the money masters allow the crash to continue, or will they step in to prop up prices?
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Crypto crashes as BTC breaks through 53k, Ether down 20%
By Ernest Hoffman
KITCO
Aug 4, 2024

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The cryptocurrency market is in freefall on Sunday night, as digital assets follow King Crypto to double-digit losses.

After opening trading at $60,684.38, Bitcoin saw an evenly matched battle between the bears and the bulls until shortly after 9:30 a.m. EDT, when it fell from $60,800 all the way to $57,303 by 1:30 p.m. EDT. The bulls staged a rally thereafter, pushing the top crypto back over $59,000 by 3:15 p.m., but after a double-top just above $59,400, the bears once again took control of the price action.

But it was when Bitcoin failed to hold support above $57,000 just after 8:15 p.m. that the price went into freefall, sinking like a stone to crash through $53,000 just after 9:00 p.m. EDT.

After a 15-minute battle for control at 53k, bulls staged a moderate rally once again, pushing Bitcoin to the edge of $55,000, but the fight has since returned to key support around 54k at the time of writing, with volume evenly matched between buyers and sellers.