Cryptocurrency Price Today (August 12): Bitcoin Dips Below $59,000, SUI Becomes Top Gainer
Cryptocurrency price on August 12 quick take: The global market cap dipped to $2.05 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, dipped below the $59,000 mark early Monday, due to increased selling pressure over the weekend. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — mostly landed in the reds across the board as the overall Market Fear & Greed Index stood at 50 (Neutral) out of 100, as per CoinMarketCap data. The SUI token emerged to be the biggest gainer of the lot, with a 24-hour jump of over 3 percent. FET became the biggest loser, with a 24-hour dip of over 11 percent.
The global crypto market cap stood at $2.05 trillion at the time of writing, registering a 24-hour dip of 4.07 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $58,591.29, registering a 24-hour dip of 3.91 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 49.07 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,545.75, marking a 24-hour loss of 3.86 percent at the time of writing. Ethereum price in India stood at Rs 2.13 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 7.10 percent, as per CoinMarketCap data, currently priced at $0.1015. Dogecoin price in India stood at Rs 8.53.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 1.74 percent. At the time of writing, it was trading at $60.64. LTC price in India stood at Rs 5,083.21.
Ripple (XRP) Price Today
XRP price stood at $0.5639, seeing a 24-hour dip of 4.16 percent. Ripple price in India stood at Rs 47.21.
Solana (SOL) Price Today
Solana price stood at $143.75, marking a 24-hour loss of 7.34 percent. SOL price in India stood at Rs 11,966.13.
Top Crypto Gainers Today (August 12)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Sui (SUI)
Price: $0.9134
24-hour gain: 3.24 percent
UNUS SED LEO (LEO)
Price: $5.81
24-hour gain: 0.73 percent
Zcash (ZEC)
Price: $41.47
24-hour gain: 0.28 percent
Top Crypto Losers Today (August 12)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Artificial Superintelligence Alliance (FET)
Price: $0.8214
24-hour loss: 11.73 percent
MANTRA (OM)
Price: $0.9591
24-hour loss: 10.99 percent
Akash Network (AKT)
Price: $2.61
24-hour loss: 10.78 percent
dogwifhat (WIF)
Price: $1.66
24-hour loss: 10.07 percent
Pepe (PEPE)
Price: $0.000007827
24-hour loss: 9.76 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin saw considerable sell pressure with the market continuing its test on support levels. Bitcoin price currently stands at $58,600, with the next resistance level at $62,263, while the closest support level awaits at $59,396. Ethereum's price action followed similar trends as well, with market sentiment remaining extremely fearful.”
CoinSwitch Markets Desk noted, “U.S. spot Bitcoin ETFs have recently attracted substantial capital, with over $192 million pouring into these funds. BlackRock’s IBIT led the pack with $157.6 million in inflows, as reported by public source on Friday. This influx underscores the increasing confidence and interest from institutional investors in crypto, even amid the sector's volatility. Such a trend could be pivotal in driving further adoption and potentially stabilizing Bitcoin’s price in the long term.”
Avinash Shekhar, Co-founder & CEO, Pi42, said, “As predicted by Pi42, Bitcoin and Ethereum have dropped significantly since yesterday. BTC is trading below $59K, down 4%, while ETH has fallen 3% to near $2.5K. The broader market is also under pressure, with altcoins like Solana, TON, and Dogecoin losing over 7%. The crypto market has liquidated over $132 million. We advise caution and reduced leverage for traders as the market usually goes through such corrections before a bigger rally.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin's Market Value to Realized Value (MVRV) falling below its 365-day moving average may indicate potential further declines or a bear market, as has been the case in past declines. Shortholders bore the brunt of the recent market crash, realising 97% of losses. At the same time, the inflow of stablecoins on exchanges increased by almost $2 billion, indicating that investors are buying the dip significantly. With unemployment rising and recent comments from Federal Reserve officials, a rate cut in September seems likely. Such a move could boost risk assets such as bitcoin following recent rate cuts by other major central banks. The coming week will be crucial as Bitcoin tries to recover from its significant decline. XDC network (XDC/INR) will be available for Indian traders at unocoin crypto exchange starting from today.”
Shivam Thakral, CEO of BuyUcoin, said, “Despite the overall market dip, Bitcoin’s dominance has remained relatively stable, decreasing by 0.02%. The global crypto market is worth $2.05 trillion and has decreased by 4.43% in the last 24 hours, while trading volume surged by 52.86% to $59.32 billion. The Dogs Token, a new cryptocurrency, has been launched and is gaining attention in the market. Launching new projects like Dogs Token highlights the ongoing innovation and growth in the cryptocurrency space. But we have to see the utilities it brings and how its adoption curves play out.”
CoinDCX Research Team told ABP Live, “Over the weekend, the crypto market experienced a decline, with Bitcoin dropping below $59,000 and Ethereum falling below $2,600. Bitcoin is currently in a five-month-long consolidation phase, suggesting that a significant breakout could be on the horizon. The key trendline resistance is between $66,000 and $67,000, BTC has to break above this level to push towards a range high at $71000-72000.”
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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
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