Crypto Market Resumes the Week with Prices Crashing Rapidly, Bitcoin Falls Below $60k Mark

After failing to sustain the brief rally experienced on August 9, the global crypto market value has now plummeted by 4% today.

After a brief rally on August 9, the crypto market has resumed its decline, with prices crashing rapidly. The global crypto market value has now plummeted by 4% today.

This has caused notable unrest among investors who now worry that the market has resumed a bearish trend.

The development has led the flagship cryptocurrency Bitcoin to once again fall below the $60k mark.

After falling below $3,000, Ethereum has failed to regain that mark, now consolidating around the $2,400 – $2,500 zone.

Moreover, the market sentiment has dropped to ‘extreme fear’ as per the crypto fear and greed index data, reflecting that investors lack confidence at this time.

Also, the total market cap now rests at $2.06 trillion.

Let us look at an overview of the market and see how coins have reacted in the last 24 hours.

Top Crypto Prices Today

The price of BTC has shown high volatility over the last 24 hours with its value dropping as low as $57k and as high as $61,562. At the time of writing, Bitcoin traded at $58,829, signifying a 4.04% drop from the last day.

While the price is declining, its one-day trading volume has skyrocketed by 86% to $27.4 billion, reflecting increased selling activities. Notably, as of August 9, the BTC ETF daily total flows recorded a negative value of -$89.73 million.

In the same vein, Ethereum, the second-largest cryptocurrency has dropped significantly. According to CMC data, the price of ETH tanked by 3.44% to change hands at $2,586. Also, Ethereum recorded negative ETF flows as of August 9. Per Soso Value data, the total daily net inflow rested at -$15.71 million. Its one-day trading range was between $2,523.26 and $2,707 respectively.

Other Altcoin Prices

Solana (SOL) has joined in the global downtrend today. At press time, the price of SOL recorded the most losses among the top largest cryptocurrencies, declining by 5.71% to $147.62. Additionally, SOL touched the bottom and tops of $141.25 and $157 respectively.

Meanwhile, Cardano (ADA) slid by 4.60% to $0.3375, maintaining a bottom and top range of $0.3273 and $0.3559 respectively. Toncoin (TON) momentum after the Binance listing has faded. The price of Toncoin (TON) dropped by 3.76% to $6.36 as of writing, having one-day lows and highs of $6.07 and $6.63.

Dogecoin (DOGE) and Shiba Inu (SHIB) demonstrated similar movements today. While DOGE declined by 5.20, SHIB saw a 5.32% drop in value. Consequently, DOGE and SHIB traded at $0.1041 and $0.00001378 respectively.

Top Trending Crypto Gainers Today

Ponzio the Cat (PONZIO) climbed 49.52% to reach $1,128

SuperRare (RARE) moved up by 29.34% to $0.0889

Curve DAO (CRV) added 9.89% to $0.2863

Alpine F1 (ALPINE) gained 8.08% to $1.224

KP3R surged 6.38% to $49.50