Cryptocurrency Price Today (September 2): Bitcoin Dips Below $58,000, Helium Becomes Top Gainer
Cryptocurrency price on September 2 quick take: The global market cap dipped to $2.02 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, dipped below the $58,000 mark, continuing its downward trend over the weekend. 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 43 (Neutral) out of 100, as per CoinMarketCap data. The Helium (HNT) token emerged to be the biggest gainer of the lot, with a 24-hour jump of nearly 5 percent. DOGS became the biggest loser, with a 24-hour dip of over 13 percent.
The global crypto market cap stood at $2.02 trillion at the time of writing, registering a 24-hour dip of 1.06 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $57,843.68, registering a 24-hour loss of 0.31 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 48.43 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,457.27, marking a 24-hour dip of 0.44 percent at the time of writing. Ethereum price in India stood at Rs 2.06 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour loss of 3.86 percent, as per CoinMarketCap data, currently priced at $0.09533. Dogecoin price in India stood at Rs 7.98.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour dip of 0.96 percent. At the time of writing, it was trading at $63.51. LTC price in India stood at Rs 5,325.75.
Ripple (XRP) Price Today
XRP price stood at $0.5609, seeing a 24-hour dip of 2.02 percent. Ripple price in India stood at Rs 50.18.
Solana (SOL) Price Today
Solana price stood at $129.89, marking a 24-hour loss of 3.80 percent. SOL price in India stood at Rs 11,376.6.
Top Crypto Gainers Today (September 2)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Helium (HNT)
Price: $7.23
24-hour gain: 4.89 percent
Monero (XMR)
Price: $169.79
24-hour gain: 2.86 percent
Starknet (STRK)
Price: $0.3565
24-hour gain: 1.81 percent
Artificial Superintelligence Alliance (FET)
Price: $1.14
24-hour gain: 0.79 percent
Popcat (SOL) (POPCAT)
Price: $0.5482
24-hour gain: 0.01 percent
Top Crypto Losers Today (September 2)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
DOGS (DOGS)
Price: $0.001086
24-hour loss: 13.14 percent
Beam (BEAM)
Price: $0.01295
24-hour loss: 7.32 percent
Brett (Based) (BRETT)
Price: $0.07249
24-hour loss: 7.27 percent
dogwifhat (WIF)
Price: $1.41
24-hour loss: 5.43 percent
Conflux (CFX)
Price: $0.1222
24-hour loss: 5.42 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Over the weekend, Bitcoin dipped below the $60,000 mark, driven by rising selling pressure and outflows from Bitcoin spot ETFs. This shift puts the responsibility on the bulls to defend key support levels. The market is also anticipating a significant catalyst with a potential rate cut by the US Federal Reserve in September. If Bitcoin breaks below its current level, it could intensify pressure toward the $55,700 support. Most cryptocurrencies have also been trading in the red alongside BTC.”
CoinSwitch Markets Desk noted, “Bitcoin has lost all the gains it made last week and is now trading below the 57.5k USD mark, seeing only one green day in the last 7 days. The entire crypto market cap also sits at a 2 trillion dollar support mark, which could easily cause another 10% dip in Bitcoin prices before the next support line is found. Recently listed telegram’s popular new coin DOGS was among the top losers, losing more than 14% in the last 24 hours. While TON has been trading at a 4% discount since yesterday. In an important development, Cardano has made a shift to decentralised governance as its Chang hard fork going live, where in the next 90 days - ADA token holders will take full control over this layer 1 blockchain.”
Avinash Shekhar, Co-founder & CEO, Pi42, said, “Bitcoin (BTC) and Ethereum (ETH) suffered significant losses in August, with BTC declining by 8% and ETH by 22%. This marked ETH's largest drop in over two years, while BTC experienced a similar decline in April. Altcoins like DOGS and BRETT led the downward trend in the past 24 hours, with DOGS falling by 13.8% and BRETT by 7.8%. BTC is currently trading below $58K. A strong September US employment report could temper expectations for easier monetary policy, potentially leading to further market volatility. However, there's also a 50% chance of an upward trend.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin's current price is near its pivot point of $59,000, suggesting a neutral to slightly bearish outlook. Key support levels are at $58,500 and $58,000, while resistance levels are at $59,500 and $60,000. A break below the support could lead to a deeper correction, while a move above resistance might indicate a potential rally.”
Shivam Thakral, CEO of BuyUcoin, said, “The crypto market is witnessing a decent momentum as the US core PCE inflation rate holding steady at 2.6% year over year, compared to the expected 2.7% which reflects a resilient economic environment. The Federal Reserve has the flexibility to consider a more measured approach to interest rate adjustments because this stability suggests that inflationary pressures are controllable. A possible rate cut would improve market liquidity and spur economic expansion, benefiting businesses and consumers alike. In the crypto landscape, such economic signals can boost investor confidence, encouraging greater market participation and a bullish sentiment across digital assets.”
CoinDCX Research Team told ABP Live, “Over the weekend, the crypto market remained neutral to bearish, continuing its choppy behaviour. The market closed the month with negative returns, and with September historically being one of the worst months for returns, many expect further declines. However, this trend might not hold this time due to factors like the upcoming U.S. presidential election, anticipated rate cuts, and ETF inflows. Technically, the charts remain choppy and mixed. With the upcoming U.S. unemployment rate data, we could see increased volatility in the market, potentially providing a clearer direction.”
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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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