Article Rewrite:
After a weekend of bearish movements in the cryptocurrency market, Monday morning brought more disappointment as prices dropped below $60,000, creating a negative outlook. Reflecting on the previous Monday, Bitcoin had experienced a loss in strength and fell to $48,800. The geopolitical events in the Middle East and Japan’s economic collapse had significant impacts on the market. So, what is the current state of Bitcoin and other high-volume altcoins?
Bitcoin’s Current Price:
On August 5th, Bitcoin’s price reached its lowest level at $48,800 due to Japan’s economic collapse. However, prices began to rise shortly after, and within a week, BTC surpassed $62,000, sparking excitement among investors with the possibility of reaching $70,000. Unfortunately, things did not unfold as anticipated.
As of the time of writing, Bitcoin’s price has slightly recovered compared to the previous day, with an increase of just over 1% to reach $59,272. During this period, Bitcoin’s market cap rose to $1.169 trillion, and the 24-hour trading volume surged past $37 billion, significantly higher than the previous day’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, the price of ETH reached $2,663. This rise in price also led to ETH’s market cap surpassing $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 reached an all-time high of $720, also experienced a price increase today. BNB’s price rose from $507 to $518. Solana, known as the Ethereum killer, had a limited rise with a 1.56% increase, 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, experiencing a 2.95% increase to $6.27.
Lastly, looking at Elon Musk’s favorite, DOGE, despite its significant decline, it is currently trading around $0.1051, managing to maintain the psychological support level of $0.10, providing hope to its investors. In the last 24 hours, DOGE saw a 3.04% increase in price.
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Disclaimer: Please note that the information provided in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and, therefore, risk, and should conduct their own research.
