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

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.

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.

Here’s an overview of some of the highest-ranking cryptocurrencies by market cap and their price movements today, August 5.

Crypto Prices Today

Bitcoin Price

BTC price 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.

Bitcoin’s dominance stood at 56.62%, an increase of 0.98% over the past day. Amid the coin’s bearish performance, BTC critic Peter Schiff has further predicted that Bitcoin ETFs will ‘gap down 15%-30% below their Jan highs.’

Source: CoinMarketCap

Ethereum Price

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.

Notably, the slumping price movement comes against the backdrop of Jump Trading offloading whopping amounts of ETH. The crypto firm appears to have dumped $500 million in Ethereum over the past ten days.

Solana Price

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.

Whale Alert’s data reveals significant SOL dumps to exchanges over the weekend, aligning with the coin’s waning movement.

Crypto XRP Price

XRP price 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.

DOGE & SHIB Prices

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.

Similarly, PEPE, WIF, and FLOKI dipped 18%-21%.

Also Read: Crypto Market Crash: Liquidations Cross $800 Million As Japan’s Nikkei Drops 7%

Crypto Losers Today

Bittensor (TAO) price crashed 25.95% to $186.96.
KuCoin Token (KCS) price fell 22.59% to $6.81.
Ethereum Name Service (ENS) price tumbled 22.19% to $16.05.
Lido (DAO) price dipped 22.13% to $1.04.

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.

Also Read: Peter Schiff Slams Bitcoin Debt Repayment Plan By Donald Trump

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