Bitcoin’s value dropped below the $60,000 mark, causing losses for crypto bulls amounting to approximately $200 million. This decline in Bitcoin was accompanied by a 10% drop in the prices of other cryptocurrencies like Dogecoin and Solana tokens. Additionally, Ether saw a decrease in value, falling below $2,900 and erasing the gains it had made in July. The approval of spot ETH exchange-traded funds for trading in the U.S. contributed to this downward trend. Overall, the crypto market experienced a sell-off for the fourth consecutive day, resulting in significant losses for traders.
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Bitcoin Plunges Under $60K; Crypto Bulls Lose $200M as Dogecoin, Solana Tokens Drop 10%
By
Eleanor Ashworth — Editor-in-Chief
About the author · Editor-in-Chief
Eleanor Ashworth
Eleanor Ashworth is editor-in-chief at BTCNews. A Cambridge-trained journalist with 18 years across the Financial Times, Reuters and the Telegraph, she joined the crypto beat in 2017 after covering the Bank of England and HM Treasury. She holds the SABEW Best in Business award (2022) and was shortlisted for the British Journalism Awards (2023). At BTCNews she sets the editorial line for Bitcoin and macro markets coverage, with a focus on institutional adoption, regulation and central-bank policy. Based in London.