Shiba

Cryptocurrency

Polkadot

Billion

Daily

Bitcoin’s price soared to a multi-day peak of almost $62,000 yesterday but failed there, and the subsequent rejection drove it south by around four grand.
The altcoins have turned red on a daily scale as well, with ETH retracing by 4.5% to just over $2,600.
<h2 id="btc-down-to-58k">BTC Down to $58K</h2>
The primary cryptocurrency had a volatile last week but managed to recover most of the losses by its end. On Friday, the asset had neared $63,000 after gaining more than $13,000 since the Monday low.
The weekend was relatively sluggish as BTC lost some ground and stood mostly in a range between $60,000 and $61,000. Monday started with a retracement again, but a lot less painful this time as bitcoin fell to just under $58,000.
It <a href="https://cryptopotato.com/bitcoin-price-eyes-61k-after-promising-ppi-numbers-toncoin-rises-7-market-watch/" data-wpel-link="internal" rel="noopener noreferrer nofollow">bounced off</a> on Tuesday and Wednesday and jumped to nearly $62,000 yesterday after the US <a href="https://cryptopotato.com/us-inflation-numbers-as-expected-bitcoin-registers-slight-volatility/" data-wpel-link="internal" rel="noopener noreferrer nofollow">announced</a> the CPI data for July. Nevertheless, BTC dropped once again later on after <a href="https://cryptopotato.com/bitcoin-drops-to-59000-as-us-government-moves-to-sell-more-btc/" data-wpel-link="internal" rel="noopener noreferrer nofollow">reports</a> that the US government had sent roughly $600 million to Coinbase Prime.
The cryptocurrency’s local low came hours ago at just under $58,000. Despite being able to bounce above that level now, the asset is still more than 4% down on the day. Its market cap has slid to $1.150 trillion, while its dominance over the alts has taken a hit and is down to 53.3%.
<figure id="attachment_353727" aria-describedby="caption-attachment-353727" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-15.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-353727" src="https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-15.png" alt="Bitcoin/Price/Chart. 15.08.2024. Source: TradingView" width="1835" height="819" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-15.png 1835w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-15-300x134.png 300w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-15-1024x457.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-15-768x343.png 768w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-15-1536x686.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/08/BTCUSD-15-50x22.png 50w" sizes="(max-width: 1835px) 100vw, 1835px"></a>
 <figcaption id="caption-attachment-353727" class="wp-caption-text">
 Bitcoin/Price/Chart. 15.08.2024. Source: TradingView
 </figcaption>
</figure>
<h2 id="alts-heading-downhill">Alts Heading Downhill</h2>
Ethereum is among the poorest performers in the past 24 hours from the larger-cap altcoins. It has dropped by a similar percentage as BTC and sits at just over $2,400 following Jump Crypto’s latest <a href="https://cryptopotato.com/jump-trading-offloads-more-ethereum-as-eth-price-dumps-3-5-daily/" data-wpel-link="internal" rel="noopener noreferrer nofollow">ETH sale</a> that sparked speculations about a further decline.
Binance Coin, Solana, Ripple, Toncoin, Dogecoin, Cardano, Shiba Inu, Bitcoin Cash, and Polkadot are also in the red, while Tron has charted a minor increase.
The biggest losers from the mid-cap alt cohort are TIA, WIF, and BRETT, all of which have declined by around 7-9%.
The total crypto market cap is down to $2.160 trillion, which means that it has lost roughly $80 billion since yesterday.
<figure id="attachment_353733" aria-describedby="caption-attachment-353733" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-15-114928.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-353733" src="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-15-114928.png" alt="Cryptocurrency Market Overview. Source: QuantifyCrypto" width="1881" height="825" srcset="https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-15-114928.png 1881w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-15-114928-300x132.png 300w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-15-114928-1024x449.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-15-114928-768x337.png 768w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-15-114928-1536x674.png 1536w, https://cryptopotato.com/wp-content/uploads/2024/08/Screenshot-2024-08-15-114928-50x22.png 50w" sizes="(max-width: 1881px) 100vw, 1881px"></a>
 <figcaption id="caption-attachment-353733" class="wp-caption-text">
 Cryptocurrency Market Overview. Source: QuantifyCrypto
 </figcaption>
</figure>
&nbsp;
The post <a href="https://cryptopotato.com/crypto-markets-shed-80-billion-daily-as-bitcoin-btc-slumps-to-58k-market-watch/" rel="noopener noreferrer nofollow">Crypto Markets Shed $80 Billion Daily as Bitcoin (BTC) Slumps to $58K (Market Watch)</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Crypto Markets Shed $80 Billion Daily as Bitcoin (BTC) Slumps to $58K (Market Watch)

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