Cryptocurrency Prices on August 8: Bitcoin rises above $57,000; XRP jumps 20% after SEC lawsuit resolution
cryptocurrency market experienced a diverse set of movements on Thursday, with Bitcoin showing notable resilience and climbing above $57,000. This surge comes amid a period of mixed trading, where major tokens like Solana, XRP, and Dogecoin saw significant gains, while others, including Ethereum and BNB, faced declines.
As of 11:10 pm IST, Bitcoin (BTC) was trading 0.4% higher at $57,150, while Ethereum fell nearly 2.9% to $2,433. Meanwhile, the global cryptocurrency market cap decreased by 0.25% to around $2 trillion in the last 24 hours.
«The crypto market remained neutral to slightly bearish, with ETH underperforming BTC. The market is expected to remain sideways for a couple of days as there are no significant macro events this week, and it typically enters a consolidation phase after substantial moves,» said CoinDCX Research Team.
Edul Patel, CEO of Mudrex, said, «Bitcoin has rebounded to the $57,000 level as market participants seized the opportunity to buy the dip. Over the past month, Bitcoin whales have purchased $23 billion worth of BTC, indicating growing accumulation.»
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