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Happy Monday, Zingernation! Although it is not too happy a Monday if you are in crypto because the market crashed 15% and more!

Today, we look at what’s behind this wipeout, what is going on with MicroStrategy stock in this crash and more.

Plus, our partner shares a way to invest in artwork sales.

MARKET SNAPSHOT

TOP STORY

EXCLUSIVE: Bitcoin Crashes 17%, Ethereum Plummets 23% — Is The Crypto Bear Market Here?

Briefly: A perfect storm of economic fears, geopolitical tensions, and leveraged positions has sent shockwaves through the digital asset space, with investors fleeing riskier assets.

So Basically: Bitcoin plummeted to $50,000 in the morning, a whopping 17% drop in 24 hours. Ethereum dropped 23% to $2,250.

So Then: This decline has been worsened by the liquidation of $919 million in leveraged long positions, according to CoinGlass data.

So What: “I believe there will be some actions from the U.S. just before the upcoming presidential election. The market has already built a tolerance to the extensive money printing,” an expert told Benzinga

Read the full scoop here.

TOGETHER WITH MASTERWORKS

$47 million in artwork sales equals profits for these everyday investors

Masterworks is taking on the billionaires at their own game, buying up paintings by world-class artists like Banksy and Picasso, and securitizing them for its investors. 

When Masterworks sells a painting – like the 16 it's already sold – investors reap their portion of the net proceeds. Its investors have already received proceeds from more than $47 million in sales, realizing annualized net returns of 17.8%, 21.5%, 35% and more.

Now, Masterworks wants to do the same thing for you. By qualifying every offering with the SEC, Masterworks makes it easy for everyday people to invest in multi-million dollar paintings. Offerings can sell out in just minutes, but as a trusted partner, Future Finance readers can skip the waitlist to join here.

Past performance is not indicative of future returns, investing involves risk. See disclosures masterworks.com/cd

FIVE ZINGERS

Ouch: The crypto market went on a free fall as recession fears and soaring geopolitical tensions caused 2024’s worst decline.

Don’t Do It: Shytoshi Kusama, the mysterious SHIB lead developer gave a nod to not selling one’s cryptocurrencies despite the ongoing crash in prices.

Vaporized: Dogecoin lost 37% of its value over the last 30 days, but a trader remains adamant that it’s only a stop en route to $1.

Not The Economy: Macro trader Alex Krüger sees the current market drawdown primarily driven by macroeconomic factors.

Get It? Influential economist Justin Wolfers expressed skepticism about the understanding of debt, cryptocurrency, and economics by former U.S. President Donald Trump.

FINTECH FOCUS

MicroStrategy Stock Crashes With Bitcoin: What's Going On?

Briefly: MicroStrategy Incorporated is down 9% after Bitcoin fell as low as $50,000.

What Happened: Wall Street analysts have an average 12-month price target of $2181 on MicroStrategy. The Street high target is currently at $2890.0 and the Street low target is $1826.

What Else: Last week MicroStrategy reported that it now holds 226,500 bitcoins at a total cost of $8.3 billion making the stock susceptible to volatility in the price of bitcoin.

Why It Matters: MicroStrategy is 111.34% up year-to-date. The average analyst price target suggests the stock could have further upside ahead.

Read the full scoop here.

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