Crypto Prices Today (August 28): Bitcoin Slips to $59K, Major Altcoins Plummet 🚨
In the past 24 hours, the cryptocurrency market has seen a significant pullback, raising bearish concerns among investors worldwide. Bitcoin $BTC has dropped 5%, settling at $59,510, after reaching intraday lows of $58,116.75 and highs of $63,207.60. This decline is attributed to factors such as anticipation of U.S. PCE inflation data, Nvidia's earnings report, and increased whale activity. Despite this, Bitcoin dominance slightly decreased to 56.27%, and the number of Bitcoin millionaires has surged by 111% this year.
Ethereum (ETH) followed suit, plunging nearly 8% to $2,478, with its market cap dropping below $300 billion. Even after the launch of an Ethereum ETF by BlackRock in Brazil, ETH couldn't sustain its value. Vitalik Buterin's statement about holding 90% of his net worth in ETH did little to boost investor confidence as the token continues to struggle.
Solana (SOL) also faced a 6.5% decline, falling to $148 despite recent positive developments like its integration into Robinhood's wallet. Similarly, XRP dropped 4% to $0.5683, despite optimism surrounding the SEC's potential decision not to appeal against a favorable judgment.
Meme coins weren't spared either, with Dogecoin (DOGE) and Shiba Inu (SHIB) both losing 6% of their value. Even Pepe coin (PEPE) and BONK saw sharp declines of 9%-12%, mirroring the broader market trend.
Top Gainers and Losers Today
Among the top gainers, Popcat (POPCAT) saw a 2.09% increase, reaching $0.7167, while Notcoin (NOT) rose by 1.5% to $0.00876. UNUS LED SEO (LEO) also posted a modest 0.5% gain.
On the flip side, Sui $SUI experienced the largest drop, plummeting 13% to $0.8408, followed by dogwifhat $WIF and SATS (1000SATS), both declining by 12%.
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