The reason for Bitcoin and Ethereum corrections, Polymarket goes parabolic

It has been a rough 24 hours across the board in crypto, with Bitcoin dropping several percent and Ethereum taking an enormous, near-10% haircut. But why? Bitcoin has been on a sustained recovery rally for weeks, and with the launch of spot Ether ETFs in the United States, the news has been positive of late — so what’s going on? Today’s episode breaks down what the trusted analysts show, including an incredibly bullish narrative around Bitcoin. In other news, we’ll look at the performance of spot Ether ETFs yesterday and why the crypto-centric betting platform Polymarket has gone parabolic.

Further reading:

• Bitstamp will begin Mt. Gox creditor repayments on July 25
• Bitcoin dip under $65K is not ‘likely’ due to Mt. Gox sell-off
• Bitcoin whales go on ‘unprecedented’ $23B July buying spree — New data
• Spot Ethereum ETFs post $113M of outflows on second day of launch
• Ethereum ETF sell-off signals more trouble — 10x Research
• Polymarket clinches MoonPay payments partnership amid US election betting frenzy

So, grab yourself a coffee, and let’s get into it!

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