Top 5 Stories of The Week
Crypto in ‘extreme fear’ as Arthur Hayes tips ‘sub $50K’ Bitcoin weekend
Crypto market sentiment has fallen back into “extreme fear” as Bitcoin briefly fell below $56,000, while BitMEX co-founder Arthur Hayes predicts it could sink another 12% to fall under $50,000 over the weekend.
The Crypto Fear & Greed Index — which measures market sentiment and trends to give a total possible score of 100 (indicating extremely positive sentiment) — hit a score of 22 on Sept. 6, showing “extreme fear,” a seven-point drop from the day prior that pinned sentiment at “fear.”
It’s the lowest score and price since the index hit 20 on Aug. 8 and the first time it has re-entered the “extreme fear” zone since Aug. 12, when the index hit 25.
At the time of publication, Bitcoin was down 2.7% in the past 24 hours and hit a low of $55,838 after a fall from above $58,000, wiping $29.7 billion from its market capitalization, according to Cointelegraph Markets Pro.
It has since slightly recovered from its low to trade at $56,533.
“BTC is heavy,” Hayes said in a Sept. 6 X post. “I’m gunning for sub $50k this weekend. I took a cheeky short.”
Pavel Durov breaks silence for first time since arrest
Telegram founder Pavel Durov finally broke his silence since his high-profile arrest in France in August.
In a message broadcast to his public Telegram channel, the tech entrepreneur said he was surprised that French authorities arrested him. He said Telegram has an official representative in the European Union who handles all regulatory requests and law enforcement inquiries.
Durov, a French citizen, also stated that the French authorities had multiple avenues to reach him without resorting to arresting him and claimed he was a regular guest at the French Consulate in Dubai.
The Telegram founder added that the company is fully prepared to leave jurisdictions that…
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