Most crypto prices are trading in the red today according to the crypto heatmap data. The market failed to sustain the momentum it generated on August 14 when the Bitcoin price peaked at $61,000. As a result, the total market capitalization has dropped by a hefty 3.49% to $2.06 trillion.
Although there have been some bullish moves over the course of the past day, most notably the recent BTC purchase by Marathon Digital, it has not been enough to spark a rally in the asset’s price. Meanwhile, overall market sentiment remains low as the crypto Fear and Greed Index data returns to the “fear” zone at 29 points.
Top Crypto Price Updates
The price of Bitcoin has fallen sharply over the past day, falling a notable 4.17% to $58,368. However, the market capitalization has increased by 14% within this time, indicating increasing selling activities among traders and investors. Popular investor Fred Krueger predicted that the price of Bitcoin will hit $1 million during the next US presidential election campaign if inflation numbers rise.
This optimistic statement signals investor confidence even as the asset’s price struggles to maintain a position above $60,000. Meanwhile, the Bitcoin ETF recorded negative flows on August 14, a -$81.36 Millions of total daily net inflows according to Soso Value data.
Ethereum, the second-largest cryptocurrency, has also joined the downtrend. According to CoinMarketCap data, ETH’s price was down 3.79% at the time of writing, trading at $2,621. Ethereum has failed to reclaim the $3,000 mark since it fell below it during the market crash on August 5. Moreover, Ethereum has hit lows and highs of $2,603.59 and $2,760 over the past day, with a daily net ETF inflow of $10.77 Million.
Prices of other altcoins
Solana has not been spared from the crash. According to CMC data, the price of SOL fell by 1.69% in the last 24 hours and was at $143.21. Moreover, Solana recorded a low and a high of $141.42 and $151.28, respectively.
Additionally, Binance Coin (BNB) lost 1.26% of its value to settle at $520.35, with the lower and upper ranges at $514.63 and $531.37, respectively. Toncoin (TON) momentum is over. Toncoin (TON) price fell 2.71% to $6.63 at the time of writing, with daily lows and highs at $6.63 and $7.22.
In the memecoin sector, Dogecoin (DOGE) and Shiba Inu (SHIB) have plummeted in the last 24 hours. While DOGE fell by 2.48%, SHIB plunged by 1.51%. Consequently, DOGE and SHIB changed hands for $0.103 and $0.00001359, respectively.
Meanwhile, proof-of-work crypto coin Kaspa (KAS) recorded a 1.82% loss in value at the time of writing, trading at $0.1663. The 22nd largest cryptocurrency maintained a trading range between $0.1647 and $0.1733 over the past 24 hours.
Top Trending Crypto Gainers Today
Baby Neiro Coin (BABYNEIRO) rose 89.72% to $0.00006827.
MovieBloc (MBL) rose 11.53% to $0.002886
SuperRare (RARE) rose 6.39% to $0.0874
The threshold (T) rose by 5.80% to $0.02388.
Aave (AAVE) rose 5.30% to $104.95
The global market has lost its previous momentum and was down by midweek. Although market sentiment remains depressed, it will be interesting to see how the situation develops and how the week ends.
