(Source: Poll of Polls)
Cryptocurrency Price Today (August 2): Bitcoin Remains Below $65,000, AAVE Becomes Top Gainer
Cryptocurrency price on August 2 quick take: The global market cap dipped to $2.30 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, ended the week at a low point, failing to rise above the $65,000 mark early Friday. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — saw minor losses across the board as the overall Market Fear & Greed Index stood at 58 (Neutral) out of 100, as per CoinMarketCap data. The AAVE token became the biggest gainer of the lot, with a 24-hour jump of over 10 percent. Arweave (AR) became the biggest loser, with a 24-hour dip of nearly 10 percent.
The global crypto market cap stood at $2.30 trillion at the time of writing, registering a 24-hour dip of 0.18 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $64,237.49, registering a 24-hour jump of 0.20 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 58.13 lakh.
Ethereum (ETH) Price Today
ETH price stood at $3,154.06, marking a 24-hour loss of 0.57 percent at the time of writing. Ethereum price in India stood at Rs 2.79 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 3 percent, as per CoinMarketCap data, currently priced at $0.1171. Dogecoin price in India stood at Rs 11.20.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 2.07 percent. At the time of writing, it was trading at $68.55. LTC price in India stood at Rs 5,023.08.
Ripple (XRP) Price Today
XRP price stood at $0.5771, seeing a 24-hour dip of 5.06 percent. Ripple price in India stood at Rs 50.79.
Solana (SOL) Price Today
Solana price stood at $163.26, marking a 24-hour dip of 3.28 percent. SOL price in India stood at Rs 15,738.
Top Crypto Gainers Today (August 2)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Aave (AAVE)
Price: $116.33
24-hour gain: 10.01 percent
Popcat (SOL) (POPCAT)
Price: $0.6752
24-hour gain: 9.40 percent
AIOZ Network (AIOZ)
Price: $0.5989
24-hour gain: 8.73 percent
Helium (HNT)
Price: $5.12
24-hour gain: 7.57 percent
Mantra (OM)
Price: $1.22
24-hour gain: 7.34 percent
Top Crypto Losers Today (August 2)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Arweave (AR)
Price: $26.04
24-hour loss: 9.65 percent
Sei (SEI)
Price: $0.2941
24-hour loss: 8.09 percent
ORDI (ORDI)
Price: $32.41
24-hour loss: 7.72 percent
dogwifhat (WIF)
Price: $1.90
24-hour loss: 7.21 percent
Beam (BEAM)
Price: $0.01684
24-hour loss: 7.02 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin dropped to $62,000 due to long liquidations, but it has since recovered and is now trading above the $64,000 level. This price action represents a short-term pullback similar to previous instances when the market turns green, often followed by significant upward moves. The next immediate resistance for Bitcoin is at $65,500, with support at $63,900.”
CoinSwitch Markets Desk noted, “Bitcoin witnessed a notable decline, falling over 10% within 72 hours after reaching a peak of $70,000. This sharp downturn is primarily attributed to heightened selling pressure and market volatility as traders responded to the rapid price surge. Analysts suggest that this price correction could be indicative of broader market trends and shifting investor sentiment.”
Avinash Shekhar, Co-founder & CEO, Pi42, said, “Whales defied July's market turmoil by accumulating over 84,000 BTC. Bitcoin saw a jump of 2.95% in July and currently trades at $66.4K, up 1.1% in 24 hours. This massive accumulation suggests whales anticipate a bullish breakout from the $50,000 - $70,000 range. A potential September rate cut could further boost investor sentiment and liquidity, benefiting Bitcoin and other cryptocurrencies.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “As of August 1, 2024, Bitcoin (BTC) is trading at $63,895, a decrease of $2,164.77. Short-term analysis suggests that Bitcoin has fallen below the rising trend channel, indicating a potential further decline or stagnation. Medium-term trends show Bitcoin in a rectangular pattern between $54,390 and $69,321, with a potential break below $57,000 or a breakout above $71,000. Long-term trends show that Bitcoin is rising, but recent support at $67,000 has been broken, signaling a possible further decline. Overall, the short- and medium-term outlook is negative, while the long-term outlook remains neutral.”
Shivam Thakral, CEO of BuyUcoin, said, “The global cryptocurrency market continues to showcase resilience, with a market cap of $2.3 trillion and a notable increase in trading volume. The total trading volume over the last 24 hours reached $85.62 billion, marking a significant 13.24% rise. Bitcoin's dominance has also shown positive momentum, increasing to 55.27%, up by 0.46% over the day. Recent developments, such as the optimism surrounding potential Bitcoin ETF approvals and favorable regulatory changes in regions like Hong Kong, have contributed to this bullish sentiment. This suggests that Bitcoin continues to improve its position as a dominant player in the market, attracting both new and existing investors.”
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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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