Due to the strong downside pressure in the background and bear flag pattern in creation, I see potential for the furhter drop...
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Sen Warren, Democrats clamp down on election gambling amid Polymarket milestone
![Sen Warren, Democrats clamp down on election gambling amid Polymarket milestone](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/cryptos_XtraSmall.jpg)
Polymarket has seen a surge in trading volume since July as investors' interest in the presidential election speculation has soared. With the hike in election gambling, Democrats moved to enforce a ban on election betting on Monday.
Ethereum on route to recovery after sustaining over $380 million in liquidations
![Ethereum on route to recovery after sustaining over $380 million in liquidations](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/Coins/Ethereum/ethereum_XtraSmall.jpg)
Ethereum (ETH) is down 11% on Monday after taking heavy losses from the general crypto market crash. While the decline heavily hit long traders, they look set to stage a comeback following increasing exchange outflows.
Bitcoin could repeat post-COVID style rise: Bitwise
![Bitcoin could repeat post-COVID style rise: Bitwise](https://editorial.fxstreet.com/images/Markets/Currencies/Digital%20Currencies/Bitcoin/Bitcoin_1_XtraSmall.jpg)
In a memo to investors on Monday, Bitwise Chief Investment Officer (CIO) Matt Hougan noted that the recent crypto market crash has provided an "opportunity" for Bitcoin (BTC) to replicate a similar move to its rise post-COVID lockdown.
XRP suffers 7% drop on Monday, hovers around $0.50 support
![XRP suffers 7% drop on Monday, hovers around $0.50 support](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/cryptocurrenciesusd_XtraSmall.jpg)
Ripple (XRP) shared several key updates in its Q2 2024 report. The bullish updates in the report have failed to catalyze gains in XRP since the altcoin was hit by a market-wide crypto correction that pushed it under psychological support at $0.50.
Bitcoin: Can BTC rebound from the recent market challenge?
![Bitcoin: Can BTC rebound from the recent market challenge?](https://editorial.fxstreet.com/images/Markets/Currencies/Digital%20Currencies/Bitcoin/bitcoins-37949586_XtraSmall.jpg)
Bitcoin’s (BTC) price failed to close above $70,000 at the beginning of the week and dropped to $64,000 by Friday. Mt. Gox continues moving Bitcoin to exchanges for repayments to creditors while the Federal Open Market Committee (FOMC) decided to hold US interest rates steady.