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After a decent recovery in July, the global cryptocurrency market struggled to extend gains in the beginning of this month. Bitcoin, the flagship currency, tumbled below $23,000, after rising $24,000 last month.

The majority of the cryptocurrencies were trading in red on Thursday amid rising US-China tensions. On the other side, the crypto market was also unfazed by Solana attacks, which compromised 8000 wallets and wiped out nearly $7 millions.

The leading cryptocurrency, Bitcoin, dropped 2.31 percent, trading at $22,843 while Ether, the second largest cryptocurrency in terms of market capitalization, fell 3.07 percent to 1,614 over the previous day, according to Coindesk data at 16:46 IST.

For the month of July, Bitcoin jumped more than 17 percent since October and hit the $24,000 mark, Ether rose 57 percent since January 2021 and changed hands around $1,700, as per <a target="_blank" href="https://www.reuters.com/technology/cryptoverse-bitcoin-beats-heat-jumpin-july-2022-08-02/" rel="dofollow">Reuters</a>.Other popular altcoins, which tend to move in tandem with bitcoin, also fell slightly. Shiba Inu, the second-largest meme coin, fell 1.47 percent to $0.000012 however the most followed meme coin Dogecoin dropped 2.1 percent to $0.066654.The global cryptocurrency market cap decreased to 1.56 percent to $1.06 trillion in the last 24 hours. One the flip side, the total cryptocurrency trading volume also decreased 16.05 percent to $63.88 billion.Meanwhile, out of a total market cap, bitcoin's dominance is 41.04 percent, a decrease of 0.23 percent over the day, as per CoinMarketCap data at 17:02 IST. &nbsp;

Bitcoin breaks below $23,000 amid rising US-China tension

Bitcoin, dropped 2.31 percent, trading at $22,843 while Ether fell 3.07 percent to 1,614 over the previous day. 

Bitcoin, dropped 2.31 percent, trading at $22,843 while Ether fell 3.07 percent to 1,614 over the previous day.&nbsp;

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