The crypto market kicked off August with a bearish trend, igniting renewed selling momentum across most major digital assets. This selling wave began with Bitcoin’s pullback from $70,000 earlier this week and has been amplified by market fear, uncertainty, and doubt (FUD) due to geopolitical tensions in the Middle East. Shiba Inu price has followed this downward path, as meme cryptocurrencies tend to react more swiftly to market shifts.