Cryptocurrency price on August 7: Bitcoin trades near $57,000; Solana, Toncoin jumps up to 7%
cryptocurrency market witnessed mixed trading on Tuesday, with several major tokens experiencing notable gains while others declined. Bitcoin, Solana, Toncoin, Cardano, and Avalanche were among the top performers, recording gains of up to 7%. In contrast, Ethereum, XRP, Dogecoin, Shiba Inu, and Polygon faced downward pressure, with losses of up to 2%.
Meanwhile, the global cryptocurrency market capitalization rose by 1.25% in the past 24 hours, reaching approximately $2.01 trillion, reflecting a market-wide recovery after recent volatility.
As of 12:23 p.m. IST, Bitcoin was trading 1.8% higher at $56,829, continuing its upward momentum and approaching the critical $57,000 mark. Ethereum, however, remained subdued, trading below the $2,500 level.
Market experts pointed to improving sentiment as a key driver behind Bitcoin’s recent strength. «The crypto market continues to show signs of recovery, with Bitcoin marking another green day and breaching the critical $56,500 resistance level,» said Vikram Subburaj, CEO of Giottus. He further noted, «Bitcoin whales have accumulated 30,000 BTC during the market correction earlier this week. Market sentiment is also improving, as reflected in the Crypto Fear and Greed Index, which
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