Bitcoin recently dropped below $60,000, which hit the broader crypto market hard. Ethereum and other altcoins also saw big drops, though DOGE held its support at $0.10. After a calm Saturday, the market turned down on Sunday, led by Bitcoin’s fall.
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Things got worse last Monday when Bitcoin dropped to $48,800, influenced by Japan’s economic troubles. So, what’s happening now with Bitcoin and other major altcoins?
Bitcoin’s Recent Price Fluctuations
On August 5th, Japan’s economic collapse caused Bitcoin prices to drop significantly, eventually falling to $48,800. However, prices began to recover and within a week, Bitcoin surged past $62,000, rekindling investor enthusiasm.
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Today’s charts, however, show a different trend. Over the weekend, Bitcoin experienced a 4.26% decline, bringing its price down to $58,500. During this time, Bitcoin’s market cap decreased to $1.154 trillion, and the 24-hour trading volume fell to $24.9 billion, significantly lower than last week’s levels.
Recent Performance of Major Altcoins
Following Bitcoin’s fluctuations, attention shifted to altcoins, with Ethereum, the leading altcoin, also experiencing a decline. In the last 24 hours, Ethereum’s price dropped by 4.12%, trading at $2,542. ETH’s market cap began the week at $305.8 billion, with a 24-hour trading volume of $14.7 billion.
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Binance’s native token, BNB, which had previously reached an all-time high of $720, fell to $507 after a 4.26% drop. Solana, often dubbed the “Ethereum killer,” saw a more significant decrease, with its price dropping by 7.50% to $144, moving away from the $150 level.
XRP, which gained attention last week due to its legal victory against the SEC and its rise above $0.50, experienced a 4.53% drop, trading at $0.5627. Similarly, TON, which saw its price rise above $6 after being listed on Binance, faced an 8.81% drop, trading at $6.09.
Lastly, despite its sharp decline, DOGE, the leading meme coin, remains at $0.1018, holding its psychological support level of $0.10. DOGE’s price movement in the last 24 hours showed a 7.04% decline.
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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
