Bitcoin and Ethereum Prices Drop Due to Selling Pressure, XRP Stabilizes Near $0.55
Bitcoin, Ethereum, and XRP experienced fluctuations in value on September 3. Bitcoin slipped below $57,000 after BTC ETFs saw outflows of $287.8 million. Ethereum erased 1.20% of its value, dropping to $2,395, while XRP lost key support, correcting to $0.5326, marking a new monthly low for September.
At the time of writing, Bitcoin was trading at $56,607. BTC Spot ETFs observed significant outflows amid a broader market sell-off. NVIDIA shares plummeted by 9.5% on Tuesday, marking the largest single-day decline in market value for a single stock. Traders’ sentiment shifted to risk aversion concerning emerging technologies, as highlighted in a recent report.
Ethereum traded at $2,395 on Wednesday, with the altcoin experiencing a 1.20% decline in value. XRP hit a new monthly low of $0.5326 as capital exited the crypto market.
Notcoin (NOT) saw a 5% decrease in value on Wednesday. The token might extend losses by 26% and reach the lower boundary of the Fair Value Gap between $0.00554 and $0.00750. The Relative Strength Index (RSI) indicated oversold conditions, suggesting potential opportunities for buyers as the asset approached the oversold zone on the NOT/USDT daily chart. Recovery for NOT could commence once the imbalance is rectified, moving towards the Fair Value Gap between $0.01060 and $0.01061.
The FBI issued a public service announcement cautioning about North Korean actors engaging in malicious cyber activities targeting companies associated with cryptocurrency ETFs. Data from Token Terminal revealed a significant drop in fees on the Ethereum mainnet over the past six months.
Gen Digital, a cybersecurity firm, reported a surge in crypto scammers utilizing AI deepfake videos in the second quarter of 2024. Binance announced the upcoming launch of BNSOL, a liquid-staking token expected to revolutionize staking on centralized exchanges. Additionally, the former Mt.Gox CEO plans to introduce a new crypto exchange, while Japan’s FSA proposed aligning taxes on crypto with traditional financial assets.
In conclusion, the crypto market witnessed various developments and fluctuations, underscoring the dynamic nature of the industry and the need for investors to stay informed and vigilant in their decision-making processes.
