Cryptocurrency Price Today (September 4): Bitcoin Continues Free Fall As Top Coins See Bloodbath
Cryptocurrency price on September 4 quick take: The global market cap dipped to $1.98 trillion.
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, continued on downward trend and dipped below the $57,000 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 34 (Fear) out of 100, as per CoinMarketCap data. The Bitcoin SV (BSV) token emerged to be the biggest gainer of the lot, with a 24-hour jump of nearly 3 percent. Notcoin (NOT) became the biggest loser, with a 24-hour dip of over 9 percent.
The global crypto market cap stood at $1.98 trillion at the time of writing, registering a 24-hour loss of 4.13 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $56,424.11, registering a 24-hour dip of 4.33 percent, as per CoinMarketCap. According to Indian exchanges, BTC price stood at Rs 48.43 lakh.
Ethereum (ETH) Price Today
ETH price stood at $2,376.18, marking a 24-hour loss of 5.61 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 4.18 percent, as per CoinMarketCap data, currently priced at $0.09543. Dogecoin price in India stood at Rs 7.98.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour dip of 0.97 percent. At the time of writing, it was trading at $65.02. LTC price in India stood at Rs 5,325.75.
Ripple (XRP) Price Today
XRP price stood at $0.5516, seeing a 24-hour loss of 2.65 percent. Ripple price in India stood at Rs 50.18.
Solana (SOL) Price Today
Solana price stood at $128.35, marking a 24-hour dip of 4.28 percent. SOL price in India stood at Rs 11,376.60.
Top Crypto Gainers Today (September 4)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
Bitcoin SV (BSV)
Price: $44.94
24-hour gain: 2.68 percent
Monero (XMR)
Price: $174.37
24-hour gain: 1.31 percent
Uniswap (UNI)
Price: $6.23
24-hour gain: 0.57 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 4)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Notcoin (NOT)
Price: $0.007613
24-hour loss: 9.40 percent
Fantom (FTM)
Price: $0.3838
24-hour loss: 9.36 percent
Brett (Based) (BRETT)
Price: $0.06868
24-hour loss: 9.34 percent
Akash Network (AKT)
Price: $2.22
24-hour loss: 9.23 percent
Dogs (DOGS)
Price: $0.001022
24-hour loss: 9.22 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin dropped to the $55,000 level amid growing selling pressure, mirroring declines in both the US and Asian equity markets. Investors are closely watching the upcoming US data later this week, which is expected to offer new insights into a potential interest rate cut by the Federal Reserve. BTC’s immediate support now lies around the $56,350 level. Any further losses could possibly push the price down to the $53,500 support level in the near term.”
Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin is showing potential for a major price surge to $110,000 by Q4 2024, driven by bullish technical patterns such as a Cup and Handle and an inverse Head and Shoulders formation. Analysts like Titan of Crypto and Elija Boom foresee a breakout in the final quarter, supported by historical post-halving trends. However, some caution a possible correction to around $40,000 before this peak. Analysts like Magoo PhD predict a dip to this level, while others, like Moustache, suggest a more modest drop to around $57,000. Bitcoin's path remains uncertain, but the final quarter holds significant promise.”
Shivam Thakral, CEO of BuyUcoin, said, “Strong trading activity was indicated by the 16.46% increase in the total crypto market volume to $66.01 billion, despite the global crypto market cap declining by 4.18% over the previous day. Bearish sentiment in cryptocurrencies is impacted by data from the ISM Manufacturing PMI, which shows continuous economic contraction. The relationship between traditional and cryptocurrency markets is becoming more and more obvious as traders modify their expectations for Federal Reserve interest rate decisions.”
CoinDCX Research Team told ABP Live, “The crypto market faced significant losses as global markets experienced a sharp downturn, with BTC dropping below $56,000 and ETH falling under $2,400. Most altcoins also saw substantial liquidations. Currently, BTC appears to have bottomed out for the short term, having closed a CME gap, grabbed liquidity, and flushed open interest. For a more bullish confirmation, BTC needs to reclaim the $58,000 level. However, global markets and upcoming U.S. macro events will play a crucial role in determining the next move.”
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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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