<div id="readability-page-1"><div>Bitcoin wobbled, Ethereum, Dogecoin slid Thursday as top cryptocurrency-based firms reported their earnings after market close.<figure><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded 8:30 p.m. EDT)</td></tr><tr><td>Bitcoin BTC/USD</td><td>+0.60%</td><td>$65,132.07</td></tr><tr><td>Ethereum ETH/USD </td><td>-0.85%</td><td>$3,206.21</td></tr><tr><td>Dogecoin DOGE/USD </td><td>-3.24%</td><td>$0.1188</td></tr></tbody></table></figure>What Happened: Bitcoin dipped below $63,000 in the morning hours before clawing back to the $64,000 zone by afternoon. The choppy movement meant King Crypto was little changed in the day. Ethereum slipped below $3,200, marking a drop of 10% since spot ETFs tracking the price of the asset went up for trading on stock exchanges.MicroStrategy Inc. MSTR, Marathon Digital Holdings Inc. MARA, and Coinbase Global Inc. COIN reported their Q2 earnings after the closing bell, involving a tale of hits and misses. Market liquidations hit a weekly high of $291 million, with liquidations of bullish leveraged bets accounting for 79% of the total.Consequently, traders going long on Bitcoin dipped sharply in the last 24 hours, according to the Longs/Short Ratio indicator.About 38% of the market is bullish on Bitcoin as of this writing, according to Coinglass, with 27% having a bearish view. About 35% of the participants are neutral.Top Gainers (24-Hours)<figure><table><tbody><tr><td>Cryptocurrency</td><td>Gains +/-</td><td>Price (Recorded at 9 p.m. EDT)</td></tr><tr><td>Popcat (POPCAT)</td><td>+8.41%</td><td>$0.7183</td></tr><tr><td>AIOZ NETWORK (AIOZ)</td><td>+8.11%</td><td>$0.6123</td></tr><tr><td>Aave (AAVE)</td><td>+8.03%</td><td>$116.55</td></tr></tbody></table></figure>The global cryptocurrency market stood at $2.33 trillion, rising 0.02% in the last 24 hours.Stocks sank lower on Thursday. The Dow Jones Industrial Average plunged 494.82 points, or 1.21%, to finish at 40,347.97. The S&amp;P 500 plummeted 1.37% to close at 5,446.68, while the tech-focused Nasdaq Composite crashed 2.30% to close at 17,194.15. Both indexes recorded their best session since February.The heavy sell-offs come following the release of worse-than-expected jobless claims data for the week ending July 27. Additionally, the manufacturing sector recorded the fourth straight month of contraction. These weak macro indicators sparked fears of economic decline, See More: Best Cryptocurrency ScannersAnalyst Notes: Widely-followed cryptocurrency analyst and trader Rekt Capital predicted that the BTC's ongoing correction won't be as long as the previous ones.&#34;The initial retrace inside the pattern took 5 weeks to bottom. The one after that took 4 weeks to bottom. This current one could take only 2-3 weeks to bottom,&#34; the trader projected.<figure><div><blockquote><div lang="en" dir="ltr">#BTCIt's possible this current retrace won't take as long as the previous pullbacksThe initial retrace inside the pattern took 5 weeks to bottomThe one after that took 4 weeks to bottomThis current one could take only 2-3 weeks to bottom$BTC #Crypto #Bitcoin https://t.co/4q4AqIOESV pic.twitter.com/e9259YTgMl</div>— Rekt Capital (@rektcapital) August 1, 2024</blockquote></div></figure>Another popular name in the cryptocurrency circles, Ali Martinez, highlighted massive liquidations of bullish leveraged bets due to BTC's move below $63,000. However, he cautioned short position traders that a rebound to $70,440 would wipe away $2.40 billion in downside bets.<figure><div><blockquote><div lang="en" dir="ltr">A bunch of #Bitcoin bulls got rekt in this downswing. According to data from @coinglass_com, over $2.50 billion in leveraged long positions got liquidated as $BTC dipped below $63,000!Now, bears are getting cocky. But nearly $2.40 billion in leveraged short positions will be… pic.twitter.com/QHULbk8vWy</div>— Ali (@ali_charts) August 1, 2024</blockquote></div></figure>Read Next: <ul><li>Mike Novogratz Predicts Kamala Harris May Soon Embrace Crypto In Light Of Donald Trump’s Pro-Crypto Stance</li></ul> </div></div>

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Bitcoin, Ethereum, and Dogecoin experienced a decline in value as top cryptocurrency firms reported their earnings. Bitcoin dipped below $63,000 before recovering to the $64,000 range. Ethereum slipped below $3,200 due to the launch of spot ETFs. Traders going long on Bitcoin decreased sharply in the last 24 hours. The global cryptocurrency market reached $2.33 trillion. Stocks also dropped due to weak jobless claims data and manufacturing sector contraction. Analysts predict a shorter correction period for Bitcoin.

Bitcoin Chops In $64K, Ethereum, Dogecoin Dip On Day Major Crypto Firms Reported Earnings: Analyst Says This Likely If King Crypto Rebounds To $70.4K