The cryptocurrency market remained subdued on Wednesday, struggling to sustain momentum.

Bitcoin (BTC) price today Bitcoin traded at $84,944.31, up a modest 0.24% in the past 24 hours.

The cryptocurrency market showed signs of fatigue on Wednesday, struggling to sustain momentum as investors remained largely indifferent to a ruling by the US Court of Appeals, which approved a joint motion from Ripple and the SEC to pause the appeal in the ongoing XRP lawsuit.

Bitcoin price today

Bitcoin price slipped 0.24% over the past 24 hours to trade at $84,944.31. The coin appeared to be trading in a limited range, with the lower and upper limits of the 24-hour price movement being $83,100.62 and $85,232.09, respectively.

Bitcoin’s market dominance also increased by 0.18% to 63.14%.

The cryptocurrency market capitalization remained nearly the same at $2.67 trillion, whereas the total cryptocurrency volume dropped by 8.30% to $70.63 billion in the 24-hour period.

The broader market continues to be affected by uncertainty around the tariff landscape, with investors remaining cautious about the timing and scope of new trade measures.

The macroeconomic environment is also impacting the cryptocurrency market, especially with the latest economic data showing that the US economy expanded at a brisk pace in the second quarter.

Semler Scientific (NASDAQ:SMLR) on Tuesday filed with the SEC for a $500 million shelf registration to acquire additional Bitcoin.

The funds will further the company’s Bitcoin treasury strategy, which was adopted in May. Semler currently holds 3,192 BTC.

The company, which is focused on developing medical technologies, explained that it began buying Bitcoin in May to "hedge against inflation and generate long-term value for our shareholders."

Its shares have risen more than 3,000% since the beginning of 2024.

The move comes as several companies, including BlackRock and Coinbase, are making a push for an ETF that would track the price of Bitcoin.

The price of Bitcoin has risen by over 150% so far this year, reaching a high of $85,232.09 earlier today.

The digital currency market is keeping an eye on any new developments with the SEC and the possibility of more companies applying for shelf registrations to sell shares and raise money for their own Bitcoin treasury strategies.

The table below shows the latest price movements for the top 10 cryptocurrencies as of 06:45 EST (1045 GMT) on Wednesday, September 5, 2024.

Cryptocurrency Last Price Change (%)

Bitcoin $84,944.31 0.24%

Ethereum $1,590.78 -1.70%

XRP $2.09 -1.98%

Solana $128.55 -0.91%

Polkadot $0.5838 16.56%

Aave $80.40 -0.37%

Chainlink $6.91 -0.14%

Optimism $0.6389 5.83%

ApeCoin $5.78 -0.51%

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