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Cryptocurrency Prices on August 21: Bitcoin drops below $60,000; Ethereum, Litecoin fall up to 4%

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1 year ago

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Cryptocurrency Prices on August 21: Bitcoin drops below ,000; Ethereum, Litecoin fall up to 4%
Major cryptocurrencies experienced declines on Wednesday, ahead of key U.S. economic data and speeches from policymakers that are expected to advocate for interest rate cuts.

As of 12:15 pm IST, Bitcoin was down 2.3%, trading at $59,656, while Ethereum fell 2.8% to $2,602. The global cryptocurrency market cap also dropped by 1.9%, settling at around $2.11 trillion over the last 24 hours.

Later on Wednesday, preliminary revisions to U.S. labor data are expected, with a significant downward adjustment anticipated, potentially supporting the case for cutting interest rates. Federal Reserve minutes are also expected to reinforce a dovish stance.

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“Bitcoin had another unsuccessful attempt at breaching the $60,700 critical resistance and is now consolidating below $60,000. The market remains cautious ahead of the U.S. jobless claims data release tomorrow. There’s a strong chance that Bitcoin could rally toward $61,000 if the data indicates a drop in claims,” said Vikram Subburaj, CEO of Giottus.Edul Patel, CEO of Mudrex, commented, “Bitcoin is trading at $59,000 due to a lack of momentum for significant upward movements, largely influenced by stronger confidence in the global economy, ongoing geopolitical tensions, and a downturn in spot Bitcoin ETFs. BTC has yet to gather enough strength for a sharp move. The support level now lies at $58,100, with resistance at $60,600.”Other popular cryptocurrencies like BNB (-1.7%), Solana (-2.5%), XRP (-2.2%), Dogecoin (-0.7%), Chainlink (-0.7%), and Litecoin (-4.5%) also saw declines.The volume of all stablecoins is currently $57.09 billion, making up 93.18% of the total crypto market’s 24-hour volume, according to CoinMarketCap.Over the past 24 hours, the market cap of Bitcoin, the world’s largest cryptocurrency, dropped to $1.176 trillion, with Bitcoin’s dominance standing at 55.81%, per CoinMarketCap. BTC’s 24-hour trading volume decreased by 7.2% to $26.9 billion.

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“Bitcoin is currently trading at $59,600. Breaking the $60,000 level could push BTC toward $61,000; however, if it fails, it might drop lower towards the $54,000 range in the short term,” said Sathvik Vishwanath, Co-Founder & CEO of Unocoin.

(Disclaimer: The views expressed by experts are their own and do not necessarily reflect those of The Economic Times.)

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SEC Sets Bullish Tone on On-Chain Markets as Blockchain Settlement Becomes Strategic Priority

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6 hours ago

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December 14, 2025

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SEC Sets Bullish Tone on On-Chain Markets as Blockchain Settlement Becomes Strategic Priority
The SEC is signaling a decisive push to move U.S. financial markets onto blockchain infrastructure, framing on-chain settlement as a priority upgrade that could reshape post-trade systems and regulatory strategy under Chair Paul Atkins.
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Westlake police say cryptocurrency scam cost woman over $5,000

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18 hours ago

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December 13, 2025

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Westlake police say cryptocurrency scam cost woman over ,000

WESTLAKE, Ohio – A convenience store clerk at 1:30 p.m. on Nov. 26 alerted a police dispatcher that a female customer was feeding large amounts of cash into a cryptocurrency ATM at the store on Center Ridge Road at Dover Center Road.

The clerk said the customer would not believe the clerk’s warning that she was being scammed.

Officers arrived to find the 71-year-old still “anxiously depositing” cash into the machine. Officers told her to stop, but she did not believe the uniformed men. The officers talked to her for several minutes before she finally believed that there was an issue. She was still on the phone with the scammer at the time.

The incident started that morning when the victim received a pop-up message on her home computer instructing her to call a provided support phone number due to a supposed issue with the computer’s operating system. She called the number and was connected to a man who claimed he was a representative from Apple, according to a police department press release.

The man talked her into allowing him remote access to her computer while he asked for her bank information. The scammer talked the victim into believing that there was a problem with her accounts, and she was at risk of losing $18,000 in connection with pornographic websites out of China or Mexico.

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She was connected to a fake fraud department for her bank, and another scammer persuaded her to go to a bank and withdraw as much cash as they would allow. The scammer even told her to give the teller a story about needing cash to buy a car. The perpetrator kept the woman on the phone as she took out cash and traveled to the crypto ATM. The victim had deposited approximately $5,500 before officers persuaded her to stop. The Westlake Detective Bureau is attempting to recover the lost funds.

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Read more from the West Shore Sun.

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Youtube Expands Creator Monetization Using Paypal USD Stablecoin

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1 day ago

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December 13, 2025

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Youtube Expands Creator Monetization Using Paypal USD Stablecoin
Youtube has reportedly begun letting U.S. creators receive payouts in Paypal’s dollar-pegged stablecoin, Paypal USD (PYUSD), signaling a shift toward regulated digital currencies as mainstream payment tools and deepening stablecoins’ role in creator monetization.
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