Bitcoin Tumbles to $58,000 as Major Coins Experience Significant Declines
The cryptocurrency market experienced notable fluctuations on August 19, with Bitcoin undergoing a significant decline to the $58,000 level. Currently, the global market cap sits at $2.07 trillion, and several major altcoins are also fluctuating between minor gains and losses.
Bitcoin, the pioneering cryptocurrency, is grappling with a lack of buyers, resulting in a substantial decline over the weekend. Other major altcoins such as Ethereum, Dogecoin, Solana, Ripple, and Litecoin also experienced a mix of minor gains and losses, as evidenced by the Market Fear & Greed Index’s reading of 43 (Neutral) out of 100, according to the latest CoinMarketCap data.
Toncoin (TON) emerged as the biggest gainer, with a 24-hour jump of over 6 percent, while Injective (INJ) became the biggest loser, suffering a 24-hour dip of nearly 4 percent.
The overall global crypto market cap currently stands at $2.07 trillion, reflecting a 24-hour dip of 0.47 percent.
Bitcoin (BTC) is currently valued at $58,580.67, reflecting a 24-hour dip of 1.47 percent. According to Indian exchanges, the BTC price stands at Rs 49.14 lakh.
ETH is currently priced at $2,635.52, marking a 24-hour gain of 1.26 percent. In India, the Ethereum price is at Rs 2.21 lakh.
DOGE saw a 24-hour dip of 1.82 percent, with the current price at $0.1003. In India, the Dogecoin price is at Rs 8.42.
Litecoin experienced a 24-hour loss of 1.73 percent, currently trading at $66.43, with the LTC price in India standing at Rs 5,576.51.
The price of XRP is at $0.5671, boasting a 24-hour gain of 0.20 percent, with the Ripple price in India at Rs 47.21.
Solana’s price stands at $143.09, showing a 24-hour increase of 1.21 percent. The SOL price in India is at Rs 12,195.12.
The cryptocurrency market has experienced substantial fluctuations, with Bitcoin and other major altcoins seeing notable changes. It is crucial for investors and traders to exercise caution and stay informed about market developments in order to make well-informed decisions.
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