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#White House Crypto Report#
Bitcoin (BTC) started August with a drop. On the morning of August 1, the coin's price fell to $114.3 thousand, hitting a new low for the last three weeks. The last time BTC traded at this level was on July 10.
As of 10:50 Moscow time, the price of BTC is hovering around $114,800. Over the past day, Bitcoin has decreased by 3.3%. The market capitalization of BTC is $2.28 trillion, with a market share of 61.86%.
Ethereum (ETH) has decreased in price by 5.8% over the past 24 hours. The leading altcoin is trading around $3,640. Its market share is 11.9%.
Other cryptocurrencies in the top 10 by market capitalization showed a decline, except for Tron (TRX), whose price remained virtually the same as it was a day ago. XRP (XRP) fell by 6.4%, Solana (SOL) by 6.6%, and the price of Dogecoin (DOGE) plummeted by 8%.
The total market capitalization of the cryptocurrency market fell by 4% over the past day, to $3.75 trillion. Among the top 100 cryptocurrencies, none showed significant growth in the last 24 hours. The largest drop was for the memecoin SPX6900 (SPX), which decreased by 16%.
Against the backdrop of falling cryptocurrency prices over the past 24 hours, crypto exchanges liquidated positions of 165,000 traders for a total of $645 million, according to Coinglass. Of this, $600 million came from the positions of those betting on the rise of prices (longs). The greatest losses were incurred by traders in Ethereum transactions — $190 million, and in BTC — $152 million. The Fear and Greed Index in the crypto market dropped by 7 points in a day — from 72 to 65 out of a possible 100 points. This is still in the "greed" zone. However, the downward movement of the indicator suggests that investor interest in buying cryptocurrencies has decreased.
August is one of the weakest months for the crypto market, experts noted earlier. One of the factors holding back growth was identified as the profit-taking by long-term Bitcoin holders after the coin surpassed the psychologically significant mark of $120,000.