After the weekend’s bearish price movements in cryptocurrencies, Monday morning also showed a lull, with prices falling below $60,000, painting a negative picture. Looking back at last Monday, Bitcoin had lost strength and dropped to $48,800. Geopolitical events in the Middle East and Japan’s economic collapse had significant impacts. So, what is happening with Bitcoin and high-volume altcoins at the time of writing?
What is Bitcoin’s Current Price?
On August 5th, Japan’s economic collapse dragged Bitcoin’s price to its lowest levels, dropping to $48,800. After that, prices began to rise, and within a week, BTC surpassed $62,000, exciting investors about the possibility of reaching $70,000, but things didn’t turn out that way.
In the last 24 hours, Bitcoin’s price has slightly recovered compared to yesterday. Bitcoin’s price increased by just over 1%, reaching $59,272. During this period, Bitcoin’s market cap rose to $1.169 trillion, while the 24-hour trading volume surged past $37 billion, significantly higher than yesterday’s $24.9 billion.
Current Status of Altcoins
Following Bitcoin, attention turned to altcoins. Ethereum, the leading altcoin, stood out as the day’s biggest gainer among high-volume altcoins, pleasing its investors. After a 4.50% increase, ETH’s price reached $2,663. Following the price rise, ETH’s market cap surpassed $320 billion, and its 24-hour trading volume rose to $22 billion, indicating an increase of over 50%.
Binance’s native token, BNB, which previously hit an ATH of $720, also saw a price increase today. BNB’s price rose from yesterday’s $507 to $518. Solana, known as the Ethereum killer, had a limited rise. Solana’s price increased by 1.56%, trading around $145.
XRP, which made headlines last week with its victory against the SEC and rose above $0.50, saw a 0.61% increase in the last 24 hours, trading at $0.5677. After being listed on Binance, TON’s price rose from $4.5 to over $6, increasing by 2.95% to $6.27.
Finally, looking at Elon Musk‘s favorite, DOGE, despite its sharp decline, it is trading around $0.1051, maintaining the psychological support level of $0.10, giving hope to its investors. DOGE’s price movement in the last 24 hours saw a 3.04% increase.
