Cryptocurrency Price Today (August 28): Bitcoin Dips Below $60,000, Notcoin Becomes Top Gainer
Cryptocurrency price on August 28 quick take: The global market cap rose to $2.25 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, dipped below the $60,000 mark early Wednesday. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — landed in the reds across the board as the overall Market Fear & Greed Index stood at 47 (Neutral) out of 100, as per CoinMarketCap data. The Notcoin (NOT) token emerged to be the biggest gainer of the lot, with a 24-hour jump of over 1 percent. SATS (1000SATS) became the biggest loser, with a 24-hour dip of nearly 13 percent.
The global crypto market cap stood at $2.09 trillion at the time of writing, registering a 24-hour dip of 5.49 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $59,394.50, registering a 24-hour loss of 5.83 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 53.65 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,472.96, marking a 24-hour dip of 8.01 percent at the time of writing. Ethereum price in India stood at Rs 2.30 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour dip of 6.09 percent, as per CoinMarketCap data, currently priced at $0.09943. Dogecoin price in India stood at Rs 9.15.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour loss of 4.11 percent. At the time of writing, it was trading at $60.84. LTC price in India stood at Rs 5,394.71.
Ripple (XRP) Price Today
XRP price stood at $0.5687, seeing a 24-hour dip of 4.21 percent. Ripple price in India stood at Rs 50.18.
Solana (SOL) Price Today
Solana price stood at $147.62, marking a 24-hour dip of 7.02 percent. SOL price in India stood at Rs 13,330.33.
Top Crypto Gainers Today (August 28)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Notcoin (NOT)
Price: $0.008753
24-hour gain: 1.14 percent
UNUS SED LEO (LEO)
Price: $5.84
24-hour gain: 0.36 percent
Popcat (SOL) (POPCAT)
Price: $0.7117
24-hour gain: 0.34 percent
Aptos (APT)
Price: $7.24
24-hour gain: 2.99 percent
Floki (FLOKI)
Price: $0.0001524
24-hour gain: 2.70 percent
Top Crypto Losers Today (August 28)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
SATS (1000SATS)
Price: $0.000319
24-hour loss: 12.90 percent
Sui (SUI)
Price: $0.8379
24-hour loss: 12.51 percent
Fantom (FTM)
Price: $0.4417
24-hour loss: 12.22 percent
dogwifhat (WIF)
Price: $1.58
24-hour loss: 12.12 percent
Worldcoin (WLD)
Price: $1.51
24-hour loss: 11.55 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin is consolidating below the $60,000 mark as investors take profits and liquidate positions. Currently trading around $59,000, BTC faces key support at $58,800 and resistance at $60,300. Meanwhile, major tech companies including Nvidia, CrowdStrike, Salesforce, and HP are scheduled to release their earnings today, with Autodesk set to report tomorrow. Market participants will be closely watching these earnings reports, as they could influence broader market sentiment and potentially impact Bitcoin's price movement.”
CoinSwitch Markets Desk noted, “During a widespread crypto market sell-off, Bitcoin (BTC) plummeted to $58,000, and Ethereum (ETH) also dropped below the $2,500 mark. The total crypto market cap found support around $2 trillion, offering a brief respite for the bulls. Over $300 million in long positions were liquidated, though no clear catalyst for the downturn was identified.”
Avinash Shekhar, Co-founder & CEO, Pi42, said, “The cryptocurrency market experienced a significant downturn, led by a 5.5% drop in Bitcoin's price below $60,000 within 24 hours. This triggered a wave of liquidations, affecting over 87,000 traders and resulting in losses exceeding $320 million. Ethereum also saw a decline of 7.8%, falling below $2,500. While August is usually a relatively calm period for cryptocurrencies, this year's market has been exceptionally volatile. However, Bitcoin's current price range remains consistent with its levels since April, suggesting that the recent decline may be a temporary setback within a broader uptrend.”
CoinDCX Research Team told ABP Live, “The crypto market plunged by over 5% in the last 24 hours, with no specific news driving the sell-off. The decline might be attributed to concerns ahead of this week's upcoming macro data releases, including U.S. GDP and PCE Index figures, as investors may be anticipating unfavourable results. However, this could just be speculative. The charts had already been looking technically bearish, contributing to the weakness in tokens.”
Shivam Thakral, CEO of BuyUcoin, said, “Over the past day, there has been a significant decline in the cryptocurrency market, with Bitcoin falling below $60,000 and Ether falling almost 7%. A wave of liquidations totalling more than $300 million, sparked by investor uncertainty and a general market meltdown, was the primary cause of this decline. Notwithstanding this setback, the outlook for the near future is still positive due to solid fundamentals and persistent institutional interest in cryptocurrencies.”
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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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