Crypto Price Update August 9: BTC Tops $60K, ETH at $2.6K, Major Altcoins Rally

The crypto prices today are showing signs of resurgence as the majority of the coins in the market are trading in green. The week beginning August 5 saw billions wiped out of the market in liquidation leading to a significant downtrend that sent the market cap below $2 trillion.

However, during the week, some updates shaped the crypto price movements, including the large ETH acquisition by Tron founder, Justin Sun, and the rate cut delay by the FOMC. Also, the recent ruling by a federal court on the Ripple vs SEC legal battle influenced the price trajectory of the XRP coin. Even though investors are still not fully confident in the market, as shown in the crypto fear and greed index, the market is entering the weekend in a positive state. Let us look at an overview of the market below.

The BTC price has surged significantly over the last day and maintained dominance over the crypto market. CoinMarketCap data shows that the price of the poster cryptocurrency has gained 5.44% to trade at $60,542. Additionally, Bitcoin traded between the range of $56,937.40 and $62,490 respectively.

Earlier today, Bitcoin almost reached $63k following a death cross rally. Analysts predict that Bitcoin needs to maintain a position above $62,000 to witness a further uptrend. Meanwhile, the total daily net inflows for Bitcoin ETF have skyrocketed to $192.56 million as of August 8 according to Soso Value data.

Ethereum is not left out in this rally. According to CoinMarketCap data, the price of ETH, the second-largest cryptocurrency by market cap has surged 7.55% to change hands at $2,627. As ETH experiences a rally, its exchange-traded fund has recorded negative flows. Per Soso Value data, ETH ETF had -$2.87 million daily total net inflow as of August 8.

Other Altcoin Price Updates

The Solana (SOL) price has sustained its previous days’ rally with a 1.49% increase in value. Consequently, SOL traded at $156.08 at the time of writing. Moreover, SOL touched the bottom and peak of $153.23 and $163.05 respectively.

The XRP price has taken a different turn from the other cryptocurrencies in the top ten list. After skyrocketing by 25% following Judge Torres’s ruling, the Ripple-backed cryptocurrency has now declined by 4.28% at press time to trade at $0.5847. Notably, XRP has traded between $0.5834 and $0.6415 in one day.

Meanwhile, Cardano (ADA) has spiked by 2.53% to $0.3424, maintaining a bottom and top range of $0.3302 and $0.3536 respectively. TON has enjoyed an impressive rally following the announcement that it will be listed on Binance. The price of Toncoin (TON) has surged by 4.62% to $6.45, having one-day lows and highs of $6.10 and $6.52.

On the memecoin front, Dogecoin (DOGE) and Shiba Inu (SHIB) have also seen gains today. While DOGE recorded an increase of 4.06%, SHIB has seen a significant gain of 4.67%. As a result, DOGE and SHIB are now changing hands at $0.1045 and $0.00001396 respectively. Meanwhile, PEPE has climbed 9.07% now trading at $0.00008543.

Sui (SUI) climbed 27.58% to reach $0.8355

Mog Coin (MOG) gained 15.08% to $0.000001494

Conflux (CFX) added 11.07% to $0.1372

Worldcoin (WLD) moved up by 7.31% to $1.76

The global crypto market looks to end the week on a high note as investors’ confidence gradually increases. It will be interesting to watch and see how long this sentiment holds and how the market will close the week.