Altcoins
Bitcoin Drops to $63,000 After FOMC, Altcoins Mirror Downtrend
Cryptocurrency prices have today started a worrying downward trajectory following the recent US FOMC meeting where the Federal Reserve kept interest rates unchanged at 5.25%-5.50%. Bitcoin (BTC) price slid to a low of $63,000 over the past day, while Ethereum (ETH), Solana (SOL), and XRP mimicked bearish price action.
Additionally, the global cryptocurrency market cap fell by 3.42% to $2.3 trillion today. However, the total cryptocurrency market volume over the last day saw an increase of 18.85% to $74.68 billion.
Below is a collection of some of the top-ranked cryptocurrencies by market cap and their price movements today, August 1st.
Cryptocurrency Prices Today
Bitcoin Price
Bitcoin The price appears to have come under significant selling pressure with the conclusion of the July 31 FOMC meeting. At press time, BTC was sitting at $63,977.60, down 3.20% over the past day. Its 24-hour lows and highs were $63,746.01 and $66,810.21, respectively.
Despite the masses Accumulation of BTC The recent bearish turn in cryptocurrencies after the FOMC meeting has raised concerns among investors. However, with expectations of a September rate cut rising, the long-term outlook remains optimistic.
Additionally, Bitcoin dominance saw a 0.10% decline to 54.79% today. BTC Liquidations Overseas mortgages jumped to $56 million today, sparking additional discussion after the FOMC.
Source: CoinMarketCap
Ethereum Price
The price of ETH has dropped by 3.47% in the last 24 hours to $3,180.86. Its 24-hour lows and highs were recorded at $3,173.48 and $3,347.64, respectively.
The fall in Ethereum price is in line with the general market sentiment and the Fed’s dovish stance. Furthermore, despite the ETF ETH Despite the capital inflows, a strengthened movement remains to be seen.
Solana Price
SOL price saw a 6.99% decrease today, reaching $167.45. Its 24-hour lows and highs were recorded at $168.75 and $184.18, respectively.
Interestingly, a possible Solana ETF looming on the horizon has caused quite a stir in crypto town.
XRP Price
Meanwhile, XRP price has fallen back to the $0.61 level today, down 6.40% in the last 24 hours. The coin’s 24-hour lows and highs were recorded at $0.6096 and $0.6556, respectively.
DOGE and SHIB Course
At the same time, the Dog Themed Meme Coins Dogecoin price has dropped 3.33% over the past day to $0.1212 at the time of writing. Shiba Inu price has dropped 2.45% to $0.00001594 in the meantime.
Additionally, PEPE, WIF, BONK and FLOKI fell by 3-10%.
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Today’s Cryptocurrency Winners
Beam (BEAM) The price jumped 6.31% to $0.01878.
Kaspa (KAS) The price increased by 2.11% to $0.2023.
Notcoin (PAS) The price rose 1.70% to $0.01308.
Electronic currency (XEC) The price jumped 1.35% to $0.00003896.
Crypto Losers Today
Popcat (POPCAT) The price fell 12.66% to $0.6471.
Mog Coin (MOG)
The price fell 11.04% to $0.051799.
dogwifhat (WIF) The price fell 9.48% to $2.10.
Thor’s Chain (Rune) The price rose 7.71% to $4.20.
Furthermore, looking at the hourly charts, it can be seen that a bearish movement is engulfing BTC and altcoins. Nevertheless, market enthusiasts continue to closely examine cryptocurrency prices today to detect future changes.
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