Bitcoin Retests $56K Mark, Ethereum Price Holds $2,500 Level!

Author: Elena R

Elena R

Author

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Aug 16, 2024 10:54

The cryptocurrency market has recorded a strong bearish action over the past day. Notably, with a trading volume of $74.7 Billion (+7.40%), the valuation has recorded a drop from $2.08 Trillion to $2.05 Trillion, a change of -1.23%. Moreover, the price of Bitcoin failed to hold momentum, resulting in it retesting its low of $56,000 during the early Asian trading hours. With a market cap of $1.149 Trillion, it is currently valued at $58,129.63. Positively, despite the recent market plunge, the ETH price held its value above the $2.5K mark with a 24-hour High/Low of $2,675.31 and $2,518.67.