Bitcoin Drips, Market Cap of All Crypto Falls to $3.94T
The world’s largest crypto asset, Bitcoin, is dripping value during early hours on Tuesday, meaning that bulls may have to wait a little longer before the crypto hits a new high.
BTCUSD token is already down by about 2% to $118,400 over the past 24 hours, according to data from coinmarketcap.com.
The token has gained more than 3.19% in the last seven days amidst general price fluctuation in the crypto markets. Bitcoin experienced a price decline over the past 24 hours, but remains in green territory on a weekly basis.
Ethereum (ETH-USD) held its ground at around $4,300 up by 16% in 7 days , but several well-known altcoins plunged by double digits on a daily basis.
The nine US-listed spot Ether ETFs saw an aggregate inflow of $1.02 billion on Monday, the highest ever inflow since the products launched in mid-2024, as around 240,000 ETH was hoovered up by institutional investors.
The big inflow day adds to a five consecutive trading day inflow streak totalling $1.8 billion. Ether ETFs have now seen a total aggregate inflow of $10.8 billion.
With the fluctuation, BTCUSD could not keep the uptrend, reflecting mixed sentiment before US inflation data. The primary cryptocurrency briefly surged past $122,000 on August 11, while its market capitalization reached almost $2.5 trillion.
Instead of tapping a new all-time high, though, BTC headed down in the following hours. At one point, the price slipped below $118,500, whereas currently the asset trades just south of $119,000.
Risk sentiment in the Cryptos market improved after President Donald Trump announced another 90-day pause on higher tariffs against China.
Investors were betting big on cryptocurrency. Strategy announced Monday that it bought an additional 155 Bitcoin for approximately $18 million at an average price of $116,401 per coin.
Retail investors’ profit-taking on some assets occurred as the market anticipates the release of consumer price index figures. U.S. inflation data for July is the key focus Tuesday, with investors closely watching the extent to which tariffs are affecting prices amid expectations for a sharper rise in core goods prices compared with June.
The inflation print will be a key element in determining whether the Federal Reserve cuts rates in September. The global cryptocurrency market capitalisation is down by 1.2% to $3.94 trillion at the time of writing. #Bitcoin Drips, Market Cap of All Crypto Falls to $3.94T#
