The Crypto prices today have experienced a widespread downtrend raising concerns among market participants about the prospects of a possible overturn. According to the crypto heat map data, an overview of the market shows a growing red pattern signifying a global downtrend across coins. Consequently, the total market value has fallen below $2 trillion, dropping by 1.94% to $1.96 trillion in the last 24 hours.
According to the crypto fear and greed index, investors’ confidence has dropped to ‘extreme fear’. Alternative data shows this metric saw a 7-point drop from yesterday’s ’29’ to ’22’ today. This continues to raise further questions about the future direction of the market, especially since September has historically been known as a month for the bears.
Top Crypto Prices Today
The price of Bitcoin has dipped significantly over the last day, falling below the critical support levels. According to CoinMarketCap data, Bitcoin traded at $55,728 at the time of writing, indicating a 2.19% drop in value. Notably, the market decline coincides with negative BTC ETF flows of -$211.15 million as of September 5, per Soso Value data.
Moreover, in a previous report today, Coinfomania noted a mixed reaction among Bitcoin whales on how they are handling the market dip. The report shows significant accumulation and dumping activities going on in the last seven days.
Source: CoinMarketCap
Similarly, the second-largest cryptocurrency by market cap, Ethereum, has led the altcoin pack in a serial decline. Per CMC data, the price of ETH saw a 2.11% drop to trade at $2,351 at press time. Interestingly, Ethereum also recorded outflows of -$152.72k in its ETF products according to the aforementioned tracking service. Over the last day, Ethereum has traded between $2,328.73 and $2,410.62 respectively.
Other Altcoin Prices
Solana dropped by 2.47% at the time of writing to trade at $128.67. Additionally, the price of Solana touched the bottoms and tops of $127.71 and $135.00 respectively in the last 24 hours.
The price of XRP, the seventh-largest cryptocurrency saw a decline of 2.56% to rest at $0.5363. Its 24-hour bottoms and tops were recorded at $0.534 and $0.5557.
Binance Coin (BNB) saw marginal losses in the last 24 hours. At the time of writing, BNB decreased by 0.17% to trade at $502.95 and maintained a 24-hour range of $496.80 and $509.40 respectively. TRX dipped by 0.01% to change hands at $0.1495 with 24-hour lows and highs of $0.1488 and $0.1512 respectively.
Meanwhile, Toncoin (TON) increased by 2.67% to touch $4.76 following a statement made by Pavel Durov, the founder of Telegram. Coinfomania reported previously that the tech mogul broke the silence and talked about his arrest for the first time. According to him, the move by authorities to take legal actions against CEOs for third-party actions on their platforms is a “misguided approach.” He stressed the effort put in by the company to meet and adjust to privacy and security laws in relevant countries.
Meanwhile, the memecoin market has seen notable losses in the last 24 hours. Dogecoin (DOGE) and Shiba Inu (SHIB), the two largest memecoins have both dipped within this time. While DOGE decreased by 0.41%, while SHIB dropped by 0.81%. Consequently, DOGE and SHIB traded at $0.09713 and $0.0000132 respectively.
Top Trending Crypto Gainers Today
Moonwell (WELL) gained 29.28% to $0.01628
Quickswap (QUICK) skyrocketed by 17.57% to reach $0.04336
Status (SNT) surged 16.64% to $0.02333
Stratis (STRAX) added 9.18% to $0.0452
Rei Network (REI) moved up by 7.83% to $0.05245
The post Crypto Price Update September 6: BTC Drops to $55K, ETH and Altcoins Bleed appeared first on Coinfomania.
