Bitcoin (BTC), the world's oldest and most valued cryptocurrency, dipped down to $50,000 on Monday but managed to recover fast and climb above the $55,000 mark early Tuesday.

The fear of recession in the US due to the US Federal Reserve's decision to maintain high interest rates continues to loom as a major concern among investors

Bitcoin price on Monday dipped below the $50,000 mark for the first time in six months. This triggered panic selling across major cryptocurrencies. However, Bitcoin has since rebounded towards $56,000, and altcoins like Ethereum, Dogecoin, BNB, and XRP have recovered over 5 percent. The global crypto market cap stood at $1.97 trillion, registering a 24-hour jump of 4.38 percent.

Bitcoin price today stood at $55,767.42, registering a 24-hour gain of 2.53 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 46.82 lakh.

ETH price stood at $2,496.02, marking a 24-hour gain of 6.93 percent at the time of writing. Ethereum price in India stood at Rs 2.09 lakh.

DOGE price registered a 24-hour jump of 6.42 percent, as per CoinMarketCap data, currently priced at $0.099. Dogecoin price in India stood at Rs 8.26.

LTC price saw a 24-hour gain of 3.73 percent. At the time of writing, it was trading at $57.89. LTC price in India stood at Rs 4,849.80.

XRP price stood at $0.5121, seeing a 24-hour jump of 7.77 percent. Ripple price in India stood at Rs 42.95.

Solana price stood at $139.08, marking a 24-hour gain of 8.56 percent. SOL price in India stood at Rs 11,106.55.

Top Crypto Gainers Today (August 6)

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Akash Network (AKT) - Price: $2.6424-hour gain: 33.84 percent

Bittensor (TAO) - Price: $251.3624-hour gain: 33.08 percent

Helium (HNT) - Price: $4.6424-hour gain: 20.61 percent

Brett (Based) (BRETT) - Price: $0.0942824-hour gain: 19.25 percent

Mantle (MNT) - Price: $0.612724-hour gain: 19.24 percent

Top Crypto Losers Today (August 6)

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

Tether Gold (XAUt) - Price: $2,413.6224-hour loss: 1.25 percent

Sei (SEI) - Price: $0.294124-hour loss: 8.09 percent

ORDI (ORDI) - Price: $32.4124-hour loss: 7.72 percent

dogwifhat (WIF) - Price: $1.9024-hour loss: 7.21 percent

Beam (BEAM) - Price: $0.0168424-hour loss: 7.02 percent

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