Cryptocurrency Market Overview: The market capitalization of the industry has dropped to $2.24T due to a slump in Japan and the worldwide market, which saw losses of 2.32% in the last day. With a 51.42% increase in 24-hour volume to $69.28 billion, trading activity has soared. While the BTC price fell to $63k levels in the past few hours, Ethereum and Solana incurred minor losses. Conversely, Japan’s eye on relaxing crypto rules has fueled optimism in the business.
Bitcoin (BTC) has seen a significant drop of 2.95%, now priced at $63,639.65. This dip puts further distance between Bitcoin and the highly anticipated $65k resistance level. While September is historically known to be a bearish month, industry proponents are hinting at options traders heavily buying call options for Bitcoin at a $75k strike price. In such a case, a move above $75k will push BTC to the $100k milestone.
Keen on BTC price targets? Our Bitcoin Price Prediction answers that and much more!
Over the last day, Ethereum (ETH) has decreased by 1.55% and is now trading at $2,609.64. Even with the decline, ETH is still strong and is still over the crucial $2.6k mark. While XRP (XRP) has remained nearly unchanged at $0.628, down just 0.01%, Solana (SOL) had a slight loss of 1.42%, trading at $154.18). As the volatility of these altcoins declines, investors appear to be holding back.
Curious about the long-term price targets of ETH? Read our Ethereum Price Prediction
Top Gainers:
The standout performer of the day is FTX Token (FTT), which has surged by 29.15% to $2.10, making it the top gainer. Ethena (ETHA) and Bittensor (TAO) followed suit, posting gains of 10.13% and 9.44%, respectively.
Top Losers:
Meme coin Shiba Inu (SHIB) is leading the losers, down 8.08% to $0.00001821, followed by Dogecoin (DOGE) with a 5.98% drop and Notcoin (NOT) at -5.76%.
Stay tuned for more updates as the market adjusts to these new price movements.
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