The crypto prices today have mainly embarked upon an alarming bearish trend. Bitcoin (BTC) price witnessed a significant fall, reaching the $56K level. Ethereum (ETH), Solana (SOL), and XRP followed, tanking considerably over the past day. This waning movement primarily aligns with the U.S. DoJ’s crackdown on Nvidia.
Notably, the Department of Justice recently sent subpoenas to Nvidia and other companies as it sought evidence that the AI firm violated antitrust laws. Subsequently, the S&P 500 today saw a 2.12% fall, whereas the global crypto market cap experienced a whopping 4.60% decline.
Nevertheless, the total crypto market volume soared 15.14% in value to $65.59 billion over the day. Let’s delve deeper into some of the top crypto by market cap and their price action today, September 4.
The DoJ’s crackdown on Nvidia appears to have rippled bearish waves across the broader market. While BTC traded at the $56K level, ETH slipped to $2,300. Simultaneously, XRP and SOL cracked 2%-6%.
BTC price rested at $56,698 at press time, noting a nearly 4% drop in value in the past 24 hours. The flagship coin’s intraday low and high were $55,673.16 and $59,314.34, respectively.
Bitcoin’s phenomenal drop aligns with a staggering $287.78 million outflows in Bitcoin ETFs as of September 3. Nevertheless, BTC’s dominance rose 0.08% to 56.40% today, hinting at a comparatively poor momentum within the alts sector.
However, it’s also worth mentioning that investor concerns prevail in the market over future price action as BOJ looks to hike interest rates ahead.
Simultaneously, ETH price pulled back 6% in the past 24 hours and is currently trading at $2,373. The crypto’s 24-hour low and high were $2,313.27 and $2,524.76, respectively.
Spot Ethereum ETFs recorded $47,40 million outflows as of September 3, per Soso Value data. The waning price movement falls in line with this market statistics.
Besides, it’s worth noting that U.S. presidential candidate Donald Trump’s upcoming crypto project is anticipated to be built on Ethereum and Aave blockchains.
The crypto SOL’s price experienced a 6% dip in value to reach $128 today. Solana’s intraday lows and highs were $123.61 and $135.75, respectively.
Sui Chung, the CEO of CF Benchmarks, has recently refuted the chances of a SOL ETF happening.
Simultaneously, XRP price cracked 2% over the past day and is currently trading at $0.5527. The crypto’s intraday low and high were recorded as $0.5399 and $0.5719, respectively.
Similarly, the meme coins sector has mirrored a waning movement today. Dogecoin (DOGE) price witnessed a 3% dip in value and is currently trading at $0.09577. This drop aligns with whales losing interest in the token. Whale Alert data today spotlighted a massive 119 million DOGE dump to Robinhood.
Also, Shiba Inu (SHIB) price fell 4% over the past day to reach $0.0000131. Even PEPE, WIF, and FLOKI prices dipped 5%-7% today.
Bitcoin SV (BSV) price has gained nearly 3% today and is currently sitting at $45.08. Its 24-hour low and high were $43.01 and $45.22, respectively.
SUI price gained roughly 2% to trade at $0.8018 today. The coin’s intraday low and high were $0.7556 and $0.8355, respectively.
Fantom (FTM) price crashed 11% over the past day and is currently trading at $0.3823. The coin’s intraday lows and highs were $0.3721 and $0.4273, respectively.
Bittensor (TAO) price tanked 11% in the past 24 hours, reaching $251. Its intraday lows and highs were $241.15 and $279.85, respectively.
BRETT price plunged 10% to $0.0688 today. The coin’s 24-hour low and high were $0.06516 and $0.07645, respectively.
Nonetheless, the hourly time frame charts for cryptocurrencies have continued to raise concerns among investors. BTC price slipped 0.28% within an hour, while ETH slipped 0.47%, fueling speculations on crypto prices today.
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