Today’s cryptocurrency market has seen significant fluctuations, with Bitcoin (BTC) falling to $57,534 amid a broader trend of declining prices. The total crypto market capitalization has dropped by 1.74% to $2.02 trillion, though trading volume surged by 68.49% to $55.39 billion.
Bitcoin’s Decline and ETF Outflows
Bitcoin’s price has decreased by nearly 2% today, with 24-hour lows at $57,136.03 and highs at $58,762.49. This drop reflects a shift in capital flows, with funds moving from Bitcoin to stablecoins. Additionally, Bitcoin ETFs recorded $277.12 million in weekly outflows as of August 30. Despite increased accumulation by Bitcoin whales, the cryptocurrency has struggled to reverse its downward trend. Bitcoin’s dominance stands at 56.34%, and its market cap is currently $1.14 trillion.
Ethereum and Other Major Cryptocurrencies
Ethereum (ETH) also saw a decline, with its price falling roughly 2% to $2,447. Its intraday lows and highs were $2,401.89 and $2,512.91, respectively. Ethereum ETFs experienced $12.60 million in outflows for the week ending August 30, contributing to market apprehension. Ethereum’s market cap is $294.11 billion.
Solana (SOL) experienced a 3% drop, trading at $130, with lows at $128.24 and highs at $136.00. XRP fell nearly 2% to $0.5493, with intraday values ranging between $0.5448 and $0.5618. XRP’s market cap is $30.9 billion.
Meme Coins and Altcoin Performance
Among meme coins, Dogecoin (DOGE) decreased by nearly 5% to $0.09522, while Shiba Inu (SHIB) fell over 3% to $0.00001325. Other meme coins such as PEPE, WIF, and BONK also experienced declines between 3% and 6%.
Top Gainers: Helium, Starknet, and Monero
Helium (HNT): Gained 5% to $7.35, with lows at $6.88 and highs at $7.45.
Starknet (STRK): Increased nearly 3% to $0.3621, with a range of $0.3492 to $0.374.
Monero (XMR): Rose by 3% to $170.19, trading between $163.99 and $171.77.
Top Losers: DOGS, BEAM, and BRETT
DOGS: Fell 13% to $0.001093, with lows at $0.001066 and highs at $0.001276.
BEAM: Dropped 7.82% to $0.01305, with a range of $0.01295 to $0.01417.
BRETT: Declined by 7% to $0.07288, with intraday values between $0.07195 and $0.07906.
Overall, the crypto market remains volatile, with Bitcoin and other major cryptocurrencies struggling amid shifting investor sentiment and increased outflows from ETFs.
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