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Happy Tuesday, Zingernation! Some relief after a brutal start to the week, which was in fact a “buying opportunity,” according to an expert.

Today, we look at why crypto faces a “random walk” risk, what is going on with MicroStrategy stock after this crash and more.

Plus, our partner pioneered “rapid onset” THC gummies.

MARKET SNAPSHOT

TOP STORY

Bitcoin, Ethereum Face 'Random Walk' Risk, Expert Warns: What Does That Mean?

Briefly: The crypto landscape is experiencing what experts are calling a “random walk” – a term that signals increased unpredictability and risk.

So Basically: According to an analysis by BloFin Academy, the crypto market’s usual support and resistance levels, typically maintained by market makers’ hedging activities, have nearly collapsed, resulting in “a ‘random walk’ market.

So Then: The analysis indicates that “crypto options traders may believe the impact of unwinding carry trade will not last long.”

So What: It cautions against premature optimism, stating emphatically, “It must be affirmed that the price fluctuation is not over yet; be cautious when catching a falling knife.”

Read the full scoop here.

TOGETHER WITH MOOD

This cannabis startup pioneered “rapid onset” gummies

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FIVE ZINGERS

Opportunity: The sell-off was a buying opportunity and could mirror the post-COVID rally, one investment expert said.

Don’t Do It: Peter Schiff criticized Senator Cynthia Lummis‘ proposed legislation to establish a U.S. Bitcoin reserve, saying it would lead to inflation.

China On my Mind: Donald Trump reaffirmed his crypto support, saying that if the U.S. doesn’t focus on strengthening the industry, China will.

Rugged: The DJT TrumpCoin, allegedly launched by Barron Trump with the help of Martin Shkreli, lost 98% of its value in one single candle on Monday.

Recovery: Shiba Inu is up 10% after a torrid Monday, with its burn rate skyrocketing by over 450%.

FINTECH FOCUS

What's Going On With Bitcoin Mining Stock Marathon Digital Today?

Briefly: MicroStrategy Incorporated announced a Bitcoin production and mining operation update for July.

What Happened: Marathon Digital said it produced 692 Bitcoin in July, up 17% on a month-over-month basis. The company won 201 blocks last month, representing an increase of 27% year-over-year.

What Else: At quarter’s end, Marathon had $242.1 million in cash and cash equivalents. Including Bitcoin holdings, the company had $1.587 billion as of July 31.

Why It Matters: Marathon Digital shares were up 1.47% at $17.20 at the time of publication, according to Benzinga Pro.

Read the full scoop here.

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