Artificial Superintelligence Alliance

Zcash

UNUS SED LEO

MANTRA

<p><i>In crypto news today, headlines revolve around the cryptocurrency market facing significant fluctuations, with a BTC dip below $59k and major altcoins experiencing losses. Despite the downturn, a few cryptocurrencies secured minor gains, </i><a href="https://cryptoticker.io/en/bitcoin-unspoken-flaw-michael-saylor-outshine-warren-buffet" rel="noopener noreferrer nofollow"><i>showcasing the market's volatility</i></a><i>. This article provides an overview of the latest crypto prices, market sentiment, and insights from industry experts.</i></p>
<h2 id="strong-market-overview-a-volatile-day-for-cryptocurrencies-strong"><strong>Market Overview: A Volatile Day for Cryptocurrencies</strong></h2>
<p>The global crypto market cap dipped to $2.05 trillion, registering a 4.07% decrease over the past 24 hours. Bitcoin (BTC), the leading cryptocurrency, fell by 4.24%, landing at $58,7k. Other prominent cryptocurrencies like Ethereum (ETH), Solana (SOL), and Dogecoin (DOGE) followed suit, reflecting the overall bearish sentiment across the market. <a href="https://www.investopedia.com/terms/f/fear-and-greed-index.asp" rel="noopener noreferrer nofollow">The Market Fear &amp; Greed Index</a> stood at a neutral 50, indicating uncertainty among investors.</p>
<p><img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/By_Trading_View_BTC_Price_Performance_24h_e780693634.png" alt="By TradingView - BTC Price Performance (24h)"></p>
<h2 id="strong-after-the-btc-dip-below-59k-can-bitcoin-price-surge-back-over-60k-strong"><strong>After The BTC Dip Below $59K, Can Bitcoin Price Surge Back Over $60k?</strong></h2>
<p>Bitcoin price dropped below the crucial $59,000 mark due to increased selling pressure. The BTC dip touched an intraday low of $58,315, a significant drop from its earlier high of $61,868. The drop contributed to a 13.9% loss for Bitcoin over the last two weeks. Despite the volatility, Bitcoin’s dominance in the market remains strong, with a market cap of $1.158 trillion and a 24-hour trading volume of $27.104 billion as per data from TradingView. Analysts suggest that Bitcoin is in a consolidation phase and a breakout could be on the horizon if BTC manages to breach the $67,000 resistance level.</p>
<figure class="image"><img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/BTCUSD_2024_08_12_1_D_5e591ec1aa.png" alt="By TradingView - BTCUSD_2024-08-12 (1D)">
</figure>
<h2 id="strong-bitcoin-price-dips-and-altcoins-follow-strong"><strong>Bitcoin Price Dips and Altcoins Follow</strong></h2>
<p><a href="https://cryptoticker.io/en/ethereum-price-prediction-amid-mixed-signals-what-to-expect-for-eth-price" rel="noopener noreferrer nofollow">Ethereum (ETH), the second-largest cryptocurrency, also faced a downturn</a>, falling by 3.67% to about $2,5k. Solana (SOL) saw one of the more significant declines among major cryptocurrencies, dropping by 6.7% to $146. Other altcoins, including Dogecoin (DOGE) and <a href="https://cryptoticker.io/en/ripple-news-testing-new-stablecoin" rel="noopener noreferrer nofollow">Ripple (XRP)</a>, experienced losses of 5.65% and 3.21%, respectively. The overall market sentiment for altcoins was bearish, with liquidations totaling $132 million, primarily driven by long positions in Bitcoin and Ethereum.</p>
<h3 id="strong-top-gainers-and-losers-today-strong"><strong>Top Gainers and Losers Today</strong></h3>
<p>Despite the market-wide downturn, <a href="https://www.tradingview.com/markets/cryptocurrencies/prices-gainers/?aff_id=127958" rel="noopener noreferrer nofollow">a few cryptocurrencies managed to post gains</a>. <a href="https://cryptoticker.io/en/sui-price-all-time-high" rel="noopener noreferrer nofollow">SUI emerged as the top gainer</a>, with a 6.98% increase, followed by UNUS SED LEO (LEO) and Zcash (ZEC). On the other hand, the <a href="https://cryptoticker.io/en/top-5-ai-coins-to-watch-now" rel="noopener noreferrer nofollow">Artificial Superintelligence Alliance (FET) and MANTRA (OM)</a> were among the biggest losers, with FET seeing an 11.73% drop.</p>
<figure class="image"><img src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/By_Trading_View_Top_Gainer_By_Price_Performance_24h_bf091cd226.png" alt="By TradingView - Top Gainer By Price Performance (24h)">
</figure>
<h2 id="strong-expert-insights-market-sentiment-and-future-outlook-strong"><strong>Expert Insights: Market Sentiment and Future Outlook</strong></h2>
<p>Industry experts weighed in on the current market conditions, emphasizing the importance of caution. According to some, <a href="https://partner.bitget.com/bg/cryptoticker_Bitcoin" rel="noopener noreferrer nofollow">Bitcoin price</a> is only testing support levels, with the next major resistance at $62,263. While others highlighted the broader market pressure, advising reduced leverage for traders amid the ongoing corrections. Despite the dip, institutional interest in cryptocurrencies remains strong, as evidenced by substantial inflows into U.S. spot Bitcoin ETFs.</p>
<h2 id="">&nbsp;</h2>
<p><a href="https://cryptoticker.io/en/bitcoin-unspoken-flaw-michael-saylor-outshine-warren-buffet" rel="noopener noreferrer nofollow"><i>The cryptocurrency market remains highly volatile</i></a><i>, with significant fluctuations in prices. As </i><a href="https://www.tradingview.com/symbols/BTCUSD/?aff_id=127958" rel="noopener noreferrer nofollow"><i>Bitcoin</i></a><i> and </i><a href="https://www.tradingview.com/markets/cryptocurrencies/prices-all/?aff_id=127958" rel="noopener noreferrer nofollow"><i>other major cryptocurrencies</i></a><i> continue to face downward pressure, traders and investors are advised to stay informed and exercise caution. Market sentiment suggests that the current downturn could precede a larger rally, making it crucial to watch key resistance levels and market trends closely.</i></p>

The Crypto Market Is Down Today As BTC Dip Below $59k: WHY?

Table of Contents

CryptoTicker ENG

Other articles published on Aug 13, 2024

Crypto Market Crashes: Bitcoin Falls 16% and Ethereum Plunges 22% Amid $1B Liquidations

Kamala Harris Administration Could Continue Crypto Crackdown, Expert Warns

Trump-Themed Coins Jump 50% Ahead of Elon Musk Interview

El Salvador Secures Landmark $1.6B Investment From Turkey’s Yilport Holding!

Unicoin exec explains why projects fail — Blockchain Futurist Conference

Coinbase Seeks Court Action Over SEC’s Withheld Documents

Join our free newsletter for daily crypto updates!