#Binance #crypto #news
1. Strong U.S. Economic Data Raising Hawkish Fed Expectations
Today, markets pulled back after the U.S. reported robust GDP growth (~3% in Q2) and stronger-than-expected job gains. Such data typically leads to a more dovish Fed. As a result, investors are bracing for interest rate restraint, reducing appetite for risk-on assets like crypto .
2. Profit-Taking & Altcoin Sell-Offs
Bitcoin is holding near $118K–$120K, prompting traders to take profits from altcoins. With Bitcoin seen as a safer asset, capital is rotating out of altcoins—leading to sharp declines in tokens like ETH, XRP, ADA, DOGE, and more .
3. Regulatory Delays Diminish Speculative Momentum
The U.S. SEC delayed approvals for altcoin ETFs, which dampened enthusiasm and triggered short-term sell pressure. This hit altcoins harder than Bitcoin, which continues accruing steady ETF inflows .
4. Whale Activity & Leverage Liquidations
There was noticeable whale selling and liquidation of leveraged long positions, which accelerated price drops. After a strong July, momentum faded, and minor technical signals suggested a cooling phase .