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<p>The crypto prices today have taken an alarmingly bearish turn, sparking severe concerns among market participants. Bitcoin (BTC) price tanked over 10% to rest at the $54K mark today. Ethereum’s (ETH) price crashed by nearly 20%. Meanwhile, the altcoin market mainly followed the bearish momentum.</p> 
<p>Simultaneously, the global crypto market cap plunged 12.50% to $1.89 trillion today. Nonetheless, the total crypto market volume saw an 86.72% increase to $124.44 billion.</p> 
<p>Here’s an overview of some of the highest-ranking <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener">cryptocurrencies</a> by market cap and their price movements today, August 5.</p> 
<h2 id="crypto-prices-today">Crypto Prices Today</h2> 
<h3 id="bitcoin-price">Bitcoin Price</h3> 
<p><a href="https://coingape.com/markets/will-bitcoin-price-bottom-at-50k-amid-growing-speculation-of-fed-rate-cut/" target="_blank" rel="noopener">BTC price</a> plummeted 10.78% in the past 24 hours to reach $54,191.08. The coin’s 24-hour slumps and peaks were recorded as $52,559.19 and $61,058.94, underscoring a highly volatile movement.</p> 
<p>Bitcoin’s dominance stood at 56.62%, an increase of 0.98% over the past day. Amid the coin’s bearish performance, BTC critic <a href="https://coingape.com/bitcoin-etf-can-see-15-30-gap-down-from-jan-levels-on-monday-says-peter-schiff/" target="_blank" rel="noopener">Peter Schiff</a> has further predicted that Bitcoin ETFs will ‘gap down 15%-30% below their Jan highs.’</p> 
<p>Adding to the bearish concerns, CryptoQuant analyst Julio Moreno further spotlighted that if BTC fails to regain the crucial support of $57K, there’s a high possibility that a $40,000 price target will engulf traders and investors.</p> 
<figure id="attachment_210958" aria-describedby="caption-attachment-210958" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-210958" src="https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-05-at-9.10.47 AM.png" alt="BTC price August 5" width="503" height="298" srcset="https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-05-at-9.10.47 AM.png 1438w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-05-at-9.10.47 AM-300x178.png 300w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-05-at-9.10.47 AM-1224x725.png 1224w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-05-at-9.10.47 AM-768x455.png 768w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-05-at-9.10.47 AM-150x89.png 150w" sizes="(max-width: 503px) 100vw, 503px">
 <figcaption id="caption-attachment-210958" class="wp-caption-text">
  Source: CoinMarketCap
 </figcaption>
</figure> 
<h3 id="ethereum-price">Ethereum Price</h3> 
<p>Simultaneously, the ETH price crashed 20.07% over the past day to trade at $2,325.86. Ethereum’s 24-hour bottoms and tops were $2,122.55 and $2,923.47, respectively.</p> 
<p>Notably, the slumping price movement comes against the backdrop of <a href="https://coingape.com/jump-trading-dumping-ethereum-which-crypto-is-next/" target="_blank" rel="noopener">Jump Trading</a> offloading whopping amounts of ETH. The crypto firm appears to have dumped $300 million in Ethereum over the past ten days.</p> 
<p><img decoding="async" class="aligncenter wp-image-210959" src="https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-05-at-9.20.54 AM.png" alt="ETH Price August 5" width="508" height="299" srcset="https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-05-at-9.20.54 AM.png 1442w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-05-at-9.20.54 AM-300x177.png 300w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-05-at-9.20.54 AM-1224x721.png 1224w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-05-at-9.20.54 AM-768x453.png 768w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-05-at-9.20.54 AM-150x88.png 150w" sizes="(max-width: 508px) 100vw, 508px"></p> 
<h3 id="solana-price">Solana Price</h3> 
<p>The crypto SOL saw an 11.42% dip in value to reach $127.94 today. Solana’s 24-hour bottoms and tops were recorded as $124.24 and $144.95, respectively.</p> 
<p>Whale Alert’s data reveals significant SOL dumps to exchanges over the weekend, aligning with the coin’s waning movement.</p> 
<p><img decoding="async" class="aligncenter wp-image-210960" src="https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-05-at-9.26.46 AM.png" alt="Crypto SOL price August 5" width="503" height="296" srcset="https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-05-at-9.26.46 AM.png 1446w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-05-at-9.26.46 AM-300x177.png 300w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-05-at-9.26.46 AM-1224x721.png 1224w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-05-at-9.26.46 AM-768x453.png 768w, https://coingape.com/wp-content/uploads/2024/08/Screenshot-2024-08-05-at-9.26.46 AM-150x88.png 150w" sizes="(max-width: 503px) 100vw, 503px"></p> 
<h3 id="crypto-xrp-price">Crypto XRP Price</h3> 
<p><a href="https://coingape.com/price/xrp/" target="_blank" rel="noopener">XRP price</a> plunged 14.92% over the past day to trade at $0.4793. The crypto’s 24-hour lows and tops were $0.4675 and $0.5583, respectively.</p> 
<h3 id="doge-shib-prices">DOGE &amp; SHIB Prices</h3> 
<p>Dogecoin’s price saw a 1.62% fall over the past day and is currently trading at $0.09174. Shiba Inu’s price tumbled 14.87% to trade at $0.00001204.</p> 
<p>Similarly, PEPE, WIF, and FLOKI dipped 18%-21%.</p> 
<p><strong>Also Read: <a href="https://coingape.com/crypto-market-crash-liquidations-cross-800-million-as-japans-nikkei-drops-7/" target="_blank" rel="noopener">Crypto Market Crash: Liquidations Cross $800 Million As Japan’s Nikkei Drops 7%</a></strong></p> 
<h2 id="crypto-losers-today">Crypto Losers Today</h2> 
<p>Bittensor (TAO) price crashed 25.95% to $186.96.<br> KuCoin Token (KCS) price fell 22.59% to $6.81.<br> Ethereum Name Service (ENS) price tumbled 22.19% to $16.05.<br> Lido (DAO) price dipped 22.13% to $1.04.</p> 
<p>Also, it’s worth noting that the only crypto gainer today was Tether Gold, up 0.15% to $2,449.72. Besides, the hourly time frame charts underscored the presence of upside movement on BTC and ETH, fueling contrasting speculations on the crypto prices today.</p> 
<p>Meanwhile, as the broader market crashed amid Japanese markets’ collapse, the <a href="https://coingape.com/us-fed-calls-emergency-meeting-as-japan-markets-collapse/" target="_blank" rel="noopener">U.S. Fed</a> has decided to hold an emergency meeting to cut rates. This mover comes as an effort to cushion the current crash, and possibly bolster market recovery. Analysts anticipate a Fed rate cut by 50 bps (basis points) following the emergency meeting.</p> 
<p><strong>Also Read: Pe<a href="https://coingape.com/peter-schiff-slams-bitcoin-debt-repayment-plan-by-donald-trump/" target="_blank" rel="noopener">ter Schiff Slams Bitcoin Debt Repayment Plan By Donald Trump</a></strong></p> 
<p>The post <a href="https://coingape.com/crypto-prices-today-august-5-btc-tanks-10-eth-crashes-20-altcoins-in-bearish-state/">Crypto Prices Today August 5: BTC Tanks 10%, ETH Crashes 20%, &amp; Altcoins In Bearish State</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Crypto Prices Today August 5: BTC Tanks 10%, ETH Crashes 20%, & Altcoins In Bearish State

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