Crypto Price Today 543x2g Bitcoin’s Profit Run Remains Short-Lived, Losses Strike Most Cryptocurrencies

Bitcoin incurred a loss of 0.67 percent today, is trading at the price point of $27,190 (roughly Rs. 22.4 lakh). 2a6e4p

Written by Manas Mitul | Updated: 31 August 2023 11:24 IST

Crypto Price Today: Bitcoin’s Profit Run Remains Short-Lived, Losses Strike Most Cryptocurrencies

Photo Credit: Pexels/ Rodnae Productions 4n6733

The crypto market valuation stands at $1.08 trillion

Highlights

Dogecoin, Shiba Inu recorded losses
Tron, Polkadot saw price dips as well
Zcash and Dash recorded small gains

ment

Bitcoin stepped into Thursday trading in losses. The most expensive cryptocurrency, that incurred a loss of 0.67 percent today, is trading at the price point of $27,190 (roughly Rs. 22.4 lakh). Bitcoin finally was able to break out of its $26,000 (roughly Rs. 21.5 lakh) spell a day ago. Despite today's minor loss, Bitcoin held onto its risen value. In the last 24 hours, BTC value slipped by $306 (roughly Rs. 25,292).

Ether ed Bitcoin on the loss-ing side of the crypto price chart on Thursday. Dipping by 1.15 percent, Ether is currently trading at the price point of $1,699 (roughly Rs. 1.40 lakh). Over the last 24 hours, losses reduced Ether's price by $19 (roughly Rs. 1,570).

“BTC seems to have lost the momentum it had gained after Grayscale's historic win against the SEC. However, analysts predict a 75 percent chance that Bitcoin ETFs will get approval this year. The SEC is also expected to rule on the ETF applications submitted by other players like BlackRock, Fidelity, Invesco, and WisdomTree, this week,” Shubham Hudda, Senior Manager, CoinSwitch Markets Desk, told Gadgets 360, hinting at an optimistic future for Bitcoin in the coming days.

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Most major cryptocurrencies recorded price dips on Thursday alongside BTC and ETH.

These include Solana.

Furthermore, minor losses were also ed by Avalanche.

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The overall crypto market cap slipped by 0.89 percent in the last 24 hours to be at $1.08 trillion (roughly Rs. 89,20,972 crore) as of August 31, showed CoinMarketCap.

Investor sentiment, however, continued to climb and jumped three points since yesterday; currently in the neutral zone with a score of 52/100.

“The crypto market has traded sideways with downward pressure in the last 24 hours. Most of the top 10 cryptos by market capitalisation were trading in the red today,” Hudda added.

Meanwhile, a small number of cryptocurrencies did see profits today.

These include Circuits of Value.

“In other news, Robinhood, one of the largest financial brokers in the US has been gaining significant traction in its wallet app after enabling wallet for BTC and DOGE. Even though this seems like a late development in a crowded market segment, investors seem to be welcoming the move,” Hudda noted.

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Cryptocurrency Prices across Indian exchanges

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Further reading: Circuits of Value

Radhika Parashar

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Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at [email protected]. More