Crypto Market Suffers Losses as Peace Talks Fail to Boost Prices

The crypto market is in the red on August 3, despite reports of fresh peace talks between the US and Iran. Bitcoin (BTC) has dropped below $63,000, while Ethereum (ETH) defends its support at $1,800.

Pi Network (PI) and Uniswap (UNI) lead losses with price drops of 3.89% and 4%, respectively. President Donald Trump's statement that the US will hold fresh peace talks was expected to boost crypto prices, but instead most top ten cryptos are dropping.

Despite this drop, the market sentiment remains unchanged, as the fear and greed index has moved from 27 to 28. However, the price of Bitcoin has dropped to its support at $62,200, with concerns growing that the unwinding Yen carry trade could reduce buying pressure.