Crypto Prices Demonstrate Disturbing Downtrend, Raising Concerns Among Investors

The crypto prices have demonstrated a disturbing downtrend today. This has raised major concerns among investors who now worry about the future outlook of the market.

Crypto prices crashed on Monday amid growing fears over a delay in rate cuts by the Federal Reserve and massive long liquidations.

Bitcoin price dropped to new monthly lows, briefly touching $49k but quickly recovered to trade above $50,000. Ethereum price, on the other hand, crashed over 20% in a day and now trades close to $2,000.

As a result, the total crypto market cap saw 17.43% wiped out of its value, resting on $1.78 trillion.

Here is an overview of the top cryptocurrencies and how they have performed in the last 24 hours.

Top Crypto Prices Today

BTC price is trading at $51,547, down 15.48% in the last 24 hours. Moreover, Bitcoin touched lows and highs of $49,221.15 and $61,048 respectively in the last 24 hours.

The world’s largest cryptocurrency witnessed a 152% increase in its one-day trading volume, highlighting the heightened selling activities.

According to data from Soso Value, Bitcoin witnessed negative ETF flows as of August 2, recording outflows of $237.45 million.

At the same time, ETH price nosedived by 22.14%, reaching $2,271 in the last 24 hours. Just like BTC, Ethereum also saw negative ETF flows.

Per Soso Value data, ETH ETF saw a $54.27 million daily net inflows as of August 2. The coin reached the bottom and top of $2,171.25 and $2,922 respectively with a 24-hour trading volume of $49.8 billion.

Other Altcoin Prices

Solana price plummeted by 18.05% to reach $117.62. Also, SOL had its bottoms and tops at $112.01 and $144 respectively.

In the weekly chart, SOL crashed by 39%, and, recorded a 6.30% decrease in the last 30 days.

XRP price dropped way below the $0.6 mark. XRP nosedived by 17.50% to trade at $0.4575 over the last day. Interestingly, XRP traded between $0.4441 and $0.5534 in one day.

Meanwhile, Cardano (ADA) dropped by 17.64% to reach $0.297, maintaining a bottom and top range of $0.2789 and $0.3603 respectively. Also, Toncoin (TON) declined by 14.93% to reach $5.12. Its one-day lows and highs were $4.93 and $6.17.

Dogecoin (DOGE) and Shiba Inu (SHIB) are leading the memecoin downtrend today. While DOGE saw a notable 19.20% loss, SHIB recorded a decline of 16.59%.

As a result, DOGE and SHIB are now trading at $0.083 and $0.00001177 respectively. Also, PEPE lost 21.98% of its value, changing hands at $0.00006608.

Top Trending Crypto Losers Today

Notably, the only crypto gainer observed today is Gifto (GFT) which surged by 14.39% to reach $0.03353.

It will be interesting to see how the coming days unfold given that the general market sentiment crashed to 26 points, signifying ‘fear’ according to the crypto fear and greed index.

The above is the detailed content of Crypto Prices Demonstrate Disturbing Downtrend, Raising Concerns Among Investors. For more information, please follow other related articles on the PHP Chinese website!