• Jungle Tales
  • Posts
  • Jungle Rumble: Navigating the Bitcoin Blowout

Jungle Rumble: Navigating the Bitcoin Blowout

A Deep Dive into the Crypto Quake as Bitcoin Stumbles

Author

Jungle Degen
August 18, 2023

Greetings Crypto Explorers! 🌴🦜

The crypto-jungle has been rocked by a formidable crash, with the mighty Bitcoin taking a tumble and other beasts feeling the tremors. 🐅💔

We’ll navigate through this storm, exploring the pivotal events and top headlines of the week, from Bitcoin’s stumble to SEI’s soaring price and CYBER’s post-Binance slump. We’ve got it all, packed in an exhilarating journey through the heart of the crypto crash.

As always… Stay Wild! 🌿🦁🚀.

🦍 The Big Jungle Roar

This week's monumental event that shook the crypto-jungle. Roar with us!

Bitcoin, Ethereum Flash Crash Triggers $800 Million in Liquidations - Decrypt

decrypt.co/152872/bitcoin-ethereum-flash-crash-triggers-800-million-liquidations

In the wild world of cryptocurrency, it’s been a real Tarzan swing! Bitcoin, the King of this crypto-jungle, took a tumble from his vine yesterday, shedding 7% of his value in a swift 20-minute swoop and briefly visiting the $26,000 territory. At the moment, he’s steadied himself at $26,314 per coin. Looks like he hasn’t visited these lowland regions since early June! 🐒💰

Not far behind, the noble Ethereum also slipped and slid down the muddy slopes, dropping nearly 10% over the last day and trading at $1,640. Meanwhile, other jungle members like Ripple (XRP), Shiba Inu (SHIB), and Litecoin (LTC) have all seen their shine dull by at least 14% over the past day. 🌧️⛰️

The rumble in the jungle was caused by a cascade of liquidations amounting to over $800 million! This followed after China’s Evergrande Group filed for Chapter 15 bankruptcy protection in New York and SpaceX wrote down its Bitcoin holdings’ value by $373 million. 🐘💔

Despite all this, our jungle-dwelling Bitcoin had recently been showing off, swinging high on the branches with a yearly high above $31,000 per coin, thanks to interest from big cats like BlackRock. However, the U.S. Securities and Exchange Commission (SEC) seems to be taking its sweet time approving a Bitcoin ETF, causing some restlessness among the pack. 🐅⏳

📉 More on the crash

🦁 King of the Crypto Jungle

Unleashing the top beasts of this week's crypto news. Beware, it's a wild ride!

🐒 Meme Monkeys

Hopping onto the funniest and savviest crypto memes that swung through the jungle this week.

🦜 Jungle Mystery of the Week

Can you solve our crypto-themed riddle? The answer lies hidden deep within the jungle. Share your guesses on Twitter and tag us! (we may gift someone some crypto 👀)

Within the crypto jungle’s dense thicket, a king known as BTC stood tall, its roar echoing across the digital landscape. But of late, the king’s roar has dwindled, and it seems to have taken a tumble. This has caused a stir in the jungle, with inhabitants whispering and wondering. Was this the result of a hidden adversary’s plot? A trap sprung unexpectedly? In this wild tale, there’s a riddle to solve: what do we call this sudden fall from grace? To the brave souls who dare venture into this unpredictable jungle, remember that even the mightiest can stumble before they take their next great leap.

🦩 Tweets from the Jungle

Check out these wild crypto tweets that have made it to the jungle!

🐊 Crypto Swamp Watch

  • Bitcoin (BTC) - $26,105.57 (-11.17%)

  • Ethereum (ETH) - $1,661.59 (-9.88%)

  • Top Gainer: Sei (+1930.35%)

  • Top Loser: Conflux (-28.26%)

Snapshot taken on the 18th of August, around 3:06pm, Jungle time.

🍍 Jungle Poll Parrot

Join our parrot's poll! This week's squawk…

Bitcoin Crash - Your Jungle Move!

Login or Subscribe to participate in polls.

🐯 Jungle Snapshots

Our grand finale - Jungle madness, guaranteed wilder than any pump and dump. Enjoy, you crypto beasts!

Always prepared for the crypto storm…

👋 That's all for this issue of Jungle Tales! As we part ways, let's remember the wise words of a crypto degen:

In the crypto wilderness, remember, even in the stormiest weather, the jungle remains. Crashes are but thunderstorms, they come and go. Stand firm, for after the storm, the jungle blooms anew. Growth follows every downfall. Stay wild, stay wise!

Don't forget to share our newsletter with your fellow crypto adventurers, and follow us on Twitter.

Until next time, keep exploring the wild world of crypto!

Pura Vida,

Jungle Degen

JUNGLE WARNING: Hear me, ye dauntless navigators of the crypto wilderness. This parchment holds no keys to monetary splendor. Consider it more of a cryptic map of the jungle, teeming with teachings, not a treasure chest marked with an 'X'. It neither mutters veiled secrets of investment, nor beckons you to swap your prized assets or enact any fiscal transactions. In this unpredictable crypto habitat, caution is your most trusted ally, and your own robust investigation, the steadfast compass. Equip yourselves with the shield of wisdom, as you traverse the intricate network of paths. Remember, swift success is often a false trail; it is through enduring patience, adroit maneuvering and careful strategy can you navigate this mysterious landscape. The jungle is vast and filled with enigmatic conundrums; let your own diligent research be the torch that dispels shadows. Don't be lured by the glimmering illusion of quick profits, but bend your will to the pursuit of genuine understanding. Keep your wits about you and eyes wide open on this crypto-quest. To cut a long story short, this is NOT financial advice. Safe travels, crypto explorers!hapcan