The crypto prices today have raised bearish investor concerns globally, reversing recent gains. Bitcoin (BTC) price pulled back to the $59K level in the past 24 hours, whereas the global crypto market cap plunged over 5% to $2.09 trillion. Further, altcoins Ethereum (ETH), Solana (SOL), and XRP prices cracked 4%-8% over the past day.
However, the total market volume witnessed a 32.16% increase in value to $86.67 billion. Here’s an overview of the top cryptocurrencies by market cap and their price run today, August 28.
BTC price tanked 5% in the past 24 hours and is currently sitting at $59.510. Its intraday lows and highs were recorded as $58,116.75 and $63,207.60, respectively.
Key reasons why Bitcoin’s price waned included factors such as traders’ anticipation of U.S. PCE inflation data, looming Nvidia earnings results due August 28, and increasing whale dumps, among other factors. Nevertheless, it’s worth mentioning that the number of Bitcoin millionaires surged 111% this year in the wake of the halving and BTC scaling an ATH in the first half of the year.
Bitcoin ETFs saw outflows worth $127.05 million as of August 27, per Soso Value data, aligning with the coin’s tumbled movement today. Also, the flagship coin’s dominance saw a 0.03% decrease over the past day to $56.27%.
ETH price cracked nearly 8% over the past day to rest at $2,478. Its 24-hour lows and highs are $2,401.18 and $2,700.15, respectively.
Ethereum ETFs recorded $3.45 million worth of outflows as of August 27. These outflows come despite BlackRock’s recent Ethereum ETF launch in Brazil.
Meanwhile, Ethereum founder Vitalik Buterin revealed that nearly 90% of his net worth is in ETH holdings. Although this statement sparked investor enthusiasm, the crypto currently performs sluggishly, with its market cap slipping below the $300 billion mark at press time.
SOL price fell 6.5% in the past 24 hours to $148. Solana’s 24-hour lows and highs are $145.58 and $159.62, respectively.
It’s worth noting that the Solana blockchain was recently integrated into Robinhood’s wallet, marking a significant stride for the token’s ecosystem. Besides, the weekly chart for the coin illustrated a 2% gain, sparking uncertain sentiments on future price movements.
XRP price stood at $0.5683 today, a fall of 4% in the past 24 hours. Its intraday lows and highs were recorded as $0.558 and $0.5996, respectively.
Despite the Ripple-backed crypto’s current slumping movement, optimism for future price movements persists as recent XRP whale data shows that the SEC is unlikely to appeal against the final judgment of Judge Analisa Torres, painting an optimistic future for price movements.
Dogecoin (DOGE) price fell 6% over the past day to $0.09938. Simultaneously, Shiba Inu (SHIB) price tanked 6% to $0.00001377 today.
Even Pepe coin (PEPE), dogwifhat (WIF), and BONK prices plummeted 9%-12% over the past day. The meme coins sector’s slumping movement aligns with the broader market trend.
POPCAT price jumped 2.09% in the past 24 hours to $0.7167. Its intraday lows and peaks were $0.6495 and $0.7327, respectively.
NOT price increased 1.5% over the past day to $0.00876. Its 24-hour lows and highs were $0.008378 and $0.009207, respectively.
LEO price noted gains worth 0.5% over the past day to $5.84. The 24-hour lows and highs were $5.77 and $6.07.
SUI price crashed 13% over the past day to $0.8408. Its intraday lows and highs were $0.8186 and $0.9698, respectively.
WIF price plunged 12% over the past day to reach $1.59. Its intraday lows and peaks were $1.52 and $1.82, respectively.
1000SATS price waned 12% to reach $0.0003219 today. Its 24-hour lows and peaks were $0.0003155 and $0.0003709, respectively.
Besides, the hourly time frame price charts illustrated a 0.31% gain for BTC, whereas ETH jumped 0.38%, igniting further speculation on the crypto prices today. Notably, renowned crypto market analyst going by the name Ash Crypto further took to X today, spotlighting BTC’s waning movement. According to the analyst, key reasons driving the waning movement included risk-on assets due to Russia-Ukraine war movement, ETF outflows, and market manipulation as S&P500 pumped, NASDAQ pumped, but BTC dumped.
However, the analyst also believes this paves the way for smart money accumulation, hinting at bolstered prices in the future.
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