Altcoins are reflecting the broader market trend, showing a decline in price actions.

Today’s cryptocurrency market has embarked on a concerning bearish trend. Bitcoin (BTC) experienced a significant drop, hitting the $56,000 mark. Ethereum (ETH), Solana (SOL), and XRP have also seen substantial declines over the past 24 hours. This downward movement is largely influenced by the U.S. Department of Justice’s (DoJ) crackdown on Nvidia.

The DoJ has recently issued subpoenas to Nvidia and other companies to gather evidence that the AI firm may have violated antitrust laws. Following this development, the S&P 500 fell by 2.12%, and the global crypto market cap saw a drastic 4.60% decline.

Despite these bearish trends, the total cryptocurrency market volume surged by 15.14% to reach $65.59 billion within a day. Let’s take a closer look at some of the top cryptocurrencies by market cap and their price actions as of September 4.

Crypto Prices Today Reflect Investor Concerns

The DoJ’s actions against Nvidia have sent bearish ripples throughout the broader market. While Bitcoin traded at around $56,000, Ethereum dropped to $2,300, and both XRP and Solana experienced declines between 2% and 6%.

Bitcoin Price Today

At press time, Bitcoin (BTC) was priced at $56,698, marking an almost 4% drop in the last 24 hours. The intraday low and high for BTC were $55,673.16 and $59,314.34, respectively.

This sharp decline in Bitcoin correlates with a substantial $287.78 million outflow from Bitcoin ETFs as of September 3. However, BTC’s market dominance increased slightly by 0.08% to 56.40%, indicating relatively weaker momentum in the altcoin sector.

Investor concerns continue to loom over the market regarding future price movements as the Bank of Japan (BOJ) considers raising interest rates.

Ethereum Price Today

Ethereum (ETH) saw a 6% pullback in the last 24 hours and is currently trading at $2,373. The intraday low and high for ETH were $2,313.27 and $2,524.76, respectively.

According to Soso Value data, spot Ethereum ETFs witnessed an outflow of $47.40 million as of September 3. The declining price aligns with these market statistics.

Additionally, it’s worth mentioning that U.S. presidential candidate Donald Trump’s forthcoming crypto project is expected to be built on the Ethereum and Aave blockchains.

Solana Price Today

Solana (SOL) experienced a 6% dip, bringing its price down to $128 today. The intraday lows and highs for SOL were $123.61 and $135.75, respectively.

XRP also saw a 2% decline over the past day and is currently trading at $0.5527. Its intraday low and high were recorded at $0.5399 and $0.5719, respectively.

Bitcoin SV (BSV) has gained nearly 3% today, currently sitting at $45.08 with intraday lows and highs of $43.01 and $45.22, respectively.

Sui

SUI saw an approximate 2% gain today, trading at $0.8018. The intraday lows and highs for SUI were $0.7556 and $0.8355, respectively.

Fantom (FTM) Price Today

Fantom (FTM) crashed by 11% over the past day and is currently trading at $0.3823. Its intraday lows and highs were $0.3721 and $0.4273, respectively.

Bittensor Price Today

Bittensor (TAO) saw an 11% drop in the past 24 hours, reaching $251 with intraday lows and highs of $241.15 and $279.85, respectively.

Brett Price Today

BRETT experienced a 10% plunge to $0.0688 today, with its 24-hour low and high recorded at $0.06516 and $0.07645, respectively.

However, hourly charts for cryptocurrencies continue to raise investor concerns. Bitcoin slipped by 0.28% within an hour, while Ethereum dropped by 0.47%, fueling speculations about further price declines in the cryptocurrency market today.

Overall, these developments indicate heightened market volatility influenced by external regulatory actions and investor sentiment concerning future economic policies.