Cryptocurrency prices on September 2: Bitcoin falls below $58,100; Altcoins slip up to 4%
Bitcoin falling below $58,100 and Ethereum dipping below the $2,500 mark. The global cryptocurrency market cap also decreased by 1.9% to approximately $2.01 trillion over the past 24 hours.
As of 1:54 pm IST, Bitcoin was trading at $58,027, down nearly 0.5%, while Ethereum had declined by 0.9% to $2,461. Over the past week, Bitcoin has dropped nearly 9%, and fell 10% in August after briefly reaching $64,000 earlier in the month.
Edul Patel, CEO of Mudrex, commented, «Bitcoin’s drop below $60,000 was driven by rising selling pressure and outflows from Bitcoin spot ETFs. A further decline could push it toward the $55,700 support level.»
The CoinDCX Research Team noted, «The crypto market closed the month negatively, with September historically being poor for returns. Factors like the US presidential election, potential rate cuts, and ETF inflows might affect this trend. Increased volatility could follow with upcoming US unemployment data.»
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View Details»Altcoins also faced declines, with BNB, Solana, XRP, Dogecoin, Toncoin, Cardano, Shiba Inu, Chainlink, and
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