After a relatively calm Saturday in the cryptocurrency realm, Sunday witnessed a downturn in the market, particularly affecting Bitcoin, which dipped below $60,000, leading to a broader market decline. Just last Monday, Bitcoin plummeted to $48,800, a significant drop influenced by Japan’s economic turmoil. So, what’s the current state of Bitcoin and high-volume altcoins as of today?
### Current Bitcoin Price
On August 5th, the economic situation in Japan caused Bitcoin prices to plummet, eventually reaching a low of $48,800. Following that, prices began to recover, and within a week, Bitcoin surged past $62,000, reigniting excitement among investors. However, today’s market charts depict a different scenario.
In the last 24 hours, Bitcoin suffered a notable decline over the weekend, dropping 4.26% to settle at $58,500. During this time, Bitcoin’s market capitalization decreased to $1.154 trillion, with a 24-hour trading volume significantly lower than the previous week, amounting to $24.9 billion.
### Current Status of Altcoins
As Bitcoin’s fortunes shifted, attention turned to altcoins. Ethereum, the leading altcoin, also faced a price drop of 4.12% in the last 24 hours, trading at $2,542. At the start of the week, ETH’s market cap stood at $305.8 billion, with a trading volume of $14.7 billion over the past day.
Binance’s native token, BNB, which had previously reached an all-time high of $720, saw a decline to $507 after a 4.26% drop. The situation was even more severe for Solana, often dubbed the “Ethereum killer,” which experienced a 7.50% decrease, falling to $144 and drifting away from the $150 mark.
XRP, which made headlines last week after its legal victory against the SEC and a rise above $0.50, encountered a 4.53% drop in the last 24 hours, trading at $0.5627. TON, which gained traction after breaking the $6 mark post-listing on Binance, also faced an 8.81% decline, now trading at $6.09.
Finally, regarding DOGE, the popular meme coin, despite its recent struggles, it remains at $0.1018, clinging to the psychological support level of $0.10, offering a glimmer of hope to investors. However, DOGE’s price movement over the last 24 hours was a decline of 7.04%.
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**Disclaimer:** The content provided in this article does not serve as investment advice. Investors should recognize that cryptocurrencies are highly volatile and come with risks, and are encouraged to conduct thorough research before making any decisions.
