Price of bitcoin, world's largest traded cryptocurrency, fell over 2% today. On Coindesk, the price of bitcoin was down 2.31% to $38,874.
Market cap of the cryptocurrency fell to $730.41 billion. However, bitcoin is still up 33.93% since the beginning of this year.
Currently, the global crypto market cap stands at $1.59 trillion, a 1.21% fall over the last day.
Other cryptocurrencies were also trading marginally lower today. Ethereum was down 0.35% to $2,549 and Dogecoin lost 2.27% to $0.2011.
Digital token Stellar lost 1.34% to $0.34 and XRP was down 0.59 % to $0.72.
Litecoin fell 1.33% to $ 139.25 and Uniswap declined 0.67% to $21.66.
Of late, crypto prices have risen on the back of comments from billionaire Elon Musk and Ark Investment Management LLC's Cathie Wood.
In late July, Elon Musk said Tesla was "most likely" to start accepting bitcoin as payment again. The comment helped the cryptocurrency race past $30,000 level. The electric carmaker said in May that it would no longer accept the cryptocurrency for purchases.
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