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After a quiet Saturday in cryptocurrencies, Sunday saw a decline in the market, particularly in the price of Bitcoin, which fell below $60,000, negatively impacting the overall market. Last Monday, Bitcoin dropped to $48,800, significantly influenced by Japan’s economic collapse. So, what is happening with Bitcoin and high-volume altcoins as of the time of writing?
What is the Current Bitcoin Price?
On August 5th, Japan’s economic collapse pulled Bitcoin prices to low levels, and eventually, the price dropped to $48,800. After that point, prices started to rise, and within a week, BTC surpassed $62,000, exciting investors again, but today’s charts show a different picture.
Looking at the last 24 hours, Bitcoin’s price took a significant hit over the weekend. Bitcoin experienced a 4.26% drop, bringing its price to $58,500. During this period, Bitcoin’s market cap fell to $1.154 trillion, while the 24-hour trading volume was significantly lower than last week’s levels, at $24.9 billion.
Current Status of Altcoins
Following Bitcoin, attention turned to altcoins. Ethereum, the leading altcoin, also saw a price drop of 4.12% in the last 24 hours, trading at $2,542. ETH’s market cap started the week at $305.8 billion, with a 24-hour trading volume of $14.7 billion.
Binance’s native token BNB, which previously reached an ATH of $720, dropped to $507 after a 4.26% decline, while the drop was more pronounced in Solana, known as the Ethereum killer. Solana’s price fell by 7.50%, dropping to $144 and moving away from the $150 level.
XRP, which made headlines last week with its victory against the SEC and its rise above $0.50, saw a 4.53% drop in the last 24 hours, trading at $0.5627. TON, which gained attention with its price rising above $6 after being listed on Binance, also experienced an 8.81% drop, trading at $6.09.
Lastly, looking at DOGE, the leading meme coin, despite its sharp decline, it remains at $0.1018, maintaining the psychological support level of $0.10, giving hope to its investors. However, DOGE’s price movement in the last 24 hours was 7.04%.
