Crypto Prices Today August 1: BTC Slips To $63K Post FOMC, Altcoins Mirror Downtrend

The crypto prices today have embarked upon a concerning bearish trajectory following the recent U.S. FOMC meeting wherein the Federal Reserve kept interest rates unchanged at 5.25%-5.50%. Bitcoin (BTC) price slipped to a $63K low over the past day, whereas Ethereum (ETH), Solana (SOL), and XRP mimicked a downside price action.

Moreover, the global crypto market cap plunged 3.42% to $2.3 trillion today. However, the total crypto market volume over the past day witnessed an 18.85% increase to $74.68 billion.

Below is a collection of some of the highest-ranking cryptocurrencies by market cap and their price movements today, August 1.

Crypto Prices Today

Bitcoin Price

Bitcoin price appears to have encountered significant selling pressure with the July 31 FOMC meet conclusion. At press time, BTC rested at $63,977.60, a dip of 3.20% over the past day. Its 24-hour lows and highs were $63,746.01 and $66,810.21, respectively.

Despite massive BTC accumulations recorded recently, the crypto’s bearish turn post-FOMC has ignited investor concerns. Nonetheless, with September rate cut expectations rising, long-term prospects remain optimistic.

Besides, Bitcoin’s dominance saw a 0.10% fall to 54.79% today. Moreover, BTC liquidations soared to $56 million today, sparking additional discussions post-FOMC.

Ethereum Price

The ETH price tumbled 3.47% in the past 24 hours to reach $3,180.86. Its 24-hour bottoms and peaks were recorded to be $3,173.48 and $3,347.64, respectively.

Ethereum’s price fall comes in alignment with the broader market sentiment and the Fed’s dovish stance. Also, despite the ETH ETFs noting inflows, a bolstered movement is yet to be seen.

Solana Price

The SOL price witnessed a 6.99% dip in value today, reaching $167.45. Its 24-hour lows and peaks were recorded as $168.75 and $184.18, respectively.

Intriguingly, a potential Solana ETF looming over the horizon has sent the crypto town abuzz.

XRP price

Meanwhile, the XRP price slipped back to the $0.61 level today, down 6.40% in the past 24 hours. The coin’s 24-hour bottoms and highs were recorded as $0.6096 and $0.6556, respectively.

DOGE and SHIB Prices

Simultaneously, the dog-themed meme coins mirrored a waning momentum. Dogecoin price slipped 3.33% over the past day to reach $0.1212 as of writing. Shiba Inu’s price fell 2.45% to $0.00001594 in the interim.

Also, PEPE, WIF, BONK, and FLOKI were down 3%-10%.

Also Read: Bitcoin Reserve Bill Published By Senator Cynthia Lummis

Crypto Gainers Today

Beam (BEAM) price surged 6.31% to $0.01878.
Kaspa (KAS) price ralied 2.11% to $0.2023.
Notcoin (NOT) price soared 1.70% to $0.01308.
eCash (XEC) price jumped 1.35% to $0.00003896.

Crypto Losers Today

Popcat (POPCAT) price dipped 12.66% to $0.6471.
Mog Coin (MOG) price fell 11.04% to $0.051799.
dogwifhat (WIF) price tanked 9.48% to $2.10.
THORChain (RUNE) price cracked 7.71% to $4.20.

Besides, upon gauging in on the hourly time frame charts, it can be seen that a bearish movement engulfs BTC and altcoins. Nonetheless, market enthusiasts continue to look extensively at the crypto prices today for future shifts.

Also Read: Ex-PayPal Exec David Marcus Pledges Support To Donald Trump

The post Crypto Prices Today August 1: BTC Slips To $63K Post FOMC, Altcoins Mirror Downtrend appeared first on CoinGape.