Crypto News Today (in under 3 mins)

This video provides a concise update on the crypto market as of August 2nd, focusing on key events and their impact.

Here are the highlights:

• Geopolitical Tensions and Market Volatility:
  • Donald Trump’s order to position two nuclear submarines has escalated geopolitical tensions, leading to increased market volatility.
  • The VIX (volatility index) spiked to 21.8, a level not seen since June, May, and April during previous tariff news.
  • New higher tariffs, ranging from 19% to 39%, on various countries are adding further uncertainty to the market.
  • The S&P 500 and NASDAQ have fallen between 1.5% and 2%.
  • The speaker personally views this market shakiness, especially with the S&P and NASDAQ falling and the VIX spiking, as a good opportunity for dollar-cost averaging (DCA).
• Bitcoin’s Performance:
  • Bitcoin recently reached approximately $12,000, nearing a previous resistance level.
  • A bounce from the current price or as low as $110,000 would be considered a very bullish short-term move for Bitcoin, as it continually retests previous resistance after making new all-time highs.
• Revised Jobs Numbers:
  • The market is also concerned about revised jobs numbers, which turned out to be less favorable than initially perceived, contributing to the current market instability.
• Personal Trading Strategy:
  • Despite the shaky market, the speaker sees opportunities and has opened new trades, currently experiencing a slight loss in some, including Dogecoin, but maintaining profit in longer-term trades.
  • The speaker is looking for a significant upward move in their investments.
• Exchange Recommendation:
  • The video recommends Bitunx as an exchange for trading, highlighting its bonuses, 3 million global users, and a one-to-one reserve fund.