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

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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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San Francisco thief posing as delivery person steals $11M in cryptocurrency after tying up homeowner

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San Francisco thief posing as delivery person steals M in cryptocurrency after tying up homeowner

An armed thief posing as a delivery worker invaded a San Francisco home, tied up the homeowner, and stole the victim’s cellphone, laptop, and $11 million worth of cryptocurrency over the weekend, according to a report.

The brazen heist occurred around 6:45 a.m. on Saturday at a home in San Francisco’s Mission Dolores neighborhood, according to a police report obtained by the San Francisco Chronicle.

A San Francisco thief posing as a delivery person stole a victim’s cellphone, laptop, and $11 million worth of cryptocurrency on Saturday. REUTERS

The faux courier quickly dropped the act by brandishing a gun and tying up the victim with duct tape, the police report detailed, according to the outlet.

It’s unclear if the victim was injured or if any arrests have been made following the incident.

Additional details about the suspect and the heist were not released by cops.The San Francisco Police Department did not immediately respond to a request for comment from The Post.

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The robbery comes amid a rise in violent kidnappings and attempted robberies of crypto investors.

In March, a group of burglars attempted to steal cryptocurrency from the home of influencer Amouranth, whose real name is Kaitlyn Siragusa. She earns around $2 million a month from selling videos on OnlyFans and gaming on Twitch.

In May, crypto bros John Woeltz, 37, and William Duplessie, 33, were accused of kidnapping and torturing an Italian millionaire, Michael Valentino Teofrasto Carturan, inside a New York City townhouse for his Bitcoin password.


Two San Francisco Police Department (SFPD) cars parked on a city street.
The robbery comes amid a rise in violent kidnappings and attempted robberies of crypto investors. Walter Cicchetti – stock.adobe.com

The digital currency is much harder to trace than dollars, and considerably easier for thieves to launder.

“Kidnappings of crypto investors are definitely on the rise,” Steve Krystek, CEO of PFC Safeguards, a personal security company, previously told The Post.

“A lot of the people who come into this money are flashy, and they’re signaling that they have wealth.”

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Strategy Faces MSCI Index Heat While Saylor Drives a Deeper Bitcoin Finance Push

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Strategy Faces MSCI Index Heat While Saylor Drives a Deeper Bitcoin Finance Push
Strategy’s market slide and JPMorgan’s index-risk alert intensify focus on MSCI’s review, while the company’s expanding bitcoin-backed financing engine and stable operations sustain its broader positioning, reinforced by Michael Saylor’s pushback.
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Bitcoin Advocate Robert Kiyosaki Sells $2.25 Million in Cryptocurrency | ForkLog

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Bitcoin Advocate Robert Kiyosaki Sells .25 Million in Cryptocurrency | ForkLog

Robert Kiyosaki sold $2.25M in Bitcoin for cash flow, investing in surgery centers and billboards.

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Entrepreneur and author of the bestseller “Rich Dad, Poor Dad,” Robert Kiyosaki, announced that he sold his bitcoins worth $2.25 million to generate “additional cash flow.”

The investor noted that he bought the coins “years ago” when they were priced at about $6,000. The selling price was approximately $90,000.

Kiyosaki invested the proceeds in two surgical centers and a billboard business.

“Practicing What I Teach”

This is how the entrepreneur titled his post. He estimates the new investments will bring him a monthly tax-free income of ~$27,500. This is expected to expand his revenue to “hundreds of thousands” per month, considering the existing income from real estate.

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Nevertheless, Kiyosaki assured: 

“I remain very bullish and optimistic about Bitcoin and will start buying more when I have positive cash flow.”

He described his investments from the cryptocurrency sale as a real-life implementation of a “get rich plan.” Kiyosaki stated that his actions align with the teachings of “Rich Dad, Poor Dad” and his board game “Cashflow.”

In recent years, the entrepreneur has regularly urged the accumulation of bitcoins, gold, and silver as opposed to “fake dollars.” He also predicted “the biggest stock market crash” and the collapse of the global financial system.

However, he concluded his post about selling cryptocurrency with the phrase:

“The world economy is booming.”

Why Not Borrow?

In 2024, Kiyosaki revealed that he owns 15,000 homes, acquired through bank loans. He rents out the properties and, thanks to buying on credit, pays no taxes.

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Around the same time, he admitted that his liabilities to financial institutions amount to $1.2 billion. Kiyosaki stated that he sees no issue with this, as he uses borrowed funds for investments.

The entrepreneur contrasted this approach with the strategy of his friend Dave Ramsey, whose advice is: “live debt-free.”

Ramsey’s family office also built a real estate empire valued at about $600 million, but entirely with available funds.

“For most people with low financial literacy, Dave’s advice is the wiser choice. For financially savvy and experienced investors, my approach might be better,” Kiyosaki stated.

In October 2025, on the podcast The Iced Coffee Hour, the entrepreneur casually responded to a question about his debt size: “a billion, maybe two.” Regarding potential default concerns, he further made a remark that caught the community’s attention:

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“If you owe banks $20 million and can’t repay, you’re in trouble. But if it’s a billion dollars, it’s their problem.”

Earlier in November, Kiyosaki once again warned of an “impending crash.” He emphasized that he continues to buy “gold, silver, bitcoins, and Ethereum, even when they fall.” His forecast for the leading cryptocurrency is $250,000 in 2026.

Given all this, commentators raised reasonable questions about why the sale of a digital asset was necessary for investments of a relatively small amount by Kiyosaki’s standards. Users noted that the entrepreneur could have simply slightly increased his debt, which he sees no problem with.

The anticipated growth of Bitcoin by Kiyosaki would have brought him about $4 million in income over a year on the realized volume of cryptocurrency. The additional cash flow from the new investments he declared will amount to about $300,000 over this period.

On Friday, November 21, Bitcoin prices fell below $83,000. Experts did not rule out a further decline to $70,000.

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