Bitcoin Price Drops Nearly 10% After Printing a Record High, What's Up?

The prices of Bitcoin and other top cryptocurrencies were observed to experience mixed movements on Wednesday (8/5/2024). The majority of top cryptocurrencies are still in the red zone.

Based on data from Coinmarketcap, the cryptocurrency with the largest market capitalization, Bitcoin (BTC), is weakening again. Bitcoin fell 1.23 percent in 24 hours, but still gained 3.06 percent on the week.

Currently, the price of Bitcoin is at USD 62,456 or the equivalent of IDR 1.0 billion (assuming an exchange rate of IDR 16,079 per US dollar).

Ethereum (ETH) also weakened. ETH fell 2.21 percent in the past day and 1.69 percent in the week. That way, currently ETH is at the level of IDR 48.56 million per coin.

The next crypto, Binance coin (BNB) was also corrected. In the last 24 hours BNB fell 2.24 percent and 1.19 percent for the week. This makes BNB priced at IDR 9.31 million per coin.

Then Cardano (ADA) is still in the red zone. ADA weakened 3.29 percent in the last 24 hours and 1.00 percent in the week. That way, ADA is at the level of IDR 7,123 per coin.

Meanwhile, Solana (SOL) is sluggish again. SOL fell 3.39 percent in one day, but still rose 15.46 percent in a week. Currently, the price of SOL is at the level of IDR 2.39 million per coin.

XRP was observed to be in the red zone again. XRP slumped 3.42 percent in 24 hours, but is still up 3.65 percent on the week. In this way, XRP is now priced at IDR 8,451 per coin.