Crypto Price Today: Bitcoin falls below $29,400; Shiba Inu, Solana surge up to 3%

economictimes.indiatimes.com:

BNB, and Litecoin were trading with cuts, while XRP, Shiba Inu, Tron and Solana were trading with gains. Meanwhile, the global cryptocurrency market cap was trading lower, around $1.17 trillion, falling 0.25% in the last 24 hours. «Crypto markets saw a slight dip with Bitcoin falling nearly 1% after U.S. CPI print showed inflation rose to 3.2% annually in July, compared to the expected 3.3% but still significantly higher than the Federal Reserve’s desired 2%,» said, CoinDCX Research Team. BTC volume stood at approximately $11.57 billion, falling 27.1% in the last 24 hours.

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The market cap of Bitcoin, the world's largest cryptocurrency, was around $571 billion. Bitcoin's dominance is currently 48.76%, a decrease of 0.08% over the day, according to CoinMarketCap. «Bitcoin is hovering around $29,390 and has experienced a 0.5% drop in the last 24 hours due to reduced liquidity in the crypto market. This decline led to the introduction of crypto derivatives. Factors include the registration of Bitcoin ETFs and the SEC's role in influencing market dynamics,» Sathvik Vishwanath, Co-Founder & CEO of Unocoin, said. Rajagopal Menon, Vice President at WazirX, said, «Major market oscillators point toward a Buy sentiment. The Relative Strength Index (14), one of the key indicators, sits at 48, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 54 and 14, respectively,