Samsung and SK Hynix each surged roughly 25%, but the bounce evaporated by Friday, confirming it was a dead cat bounce rather than a genuine reversal. Bitcoin slipped below $63K, shedding 3% over 24 hours and 2% over the week, while Ethereum fell 2.8% to around $1,860 and Solana lost 2% to roughly $73. The Fear & Greed Index reads 25, indicating « Extreme Fear » versus « Fear » the prior week. DeFi, the best-performing sector over seven days with a 0% return, illustrates the broader malaise: when the winning strategy is breaking even, the outlook is bearish. August, historically Bitcoin’s weakest month with a median return of negative 8%, would see BTC drop to around $58K, a level that coincides with multiple technical support zones watched by traders.
Source: Read the original article
