Cryptocurrency Price Today: Bitcoin Dips Down To $60,000 As Top Coins See Bloodbath

Cryptocurrency price on May 1 quick take: The global market cap dipped to $2.36 trillion.

Bitcoin price stood at $60,150.75 on Wednesday. ( Image Source :Getty )

Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, continued on a downward spiral and dipped down to the $60,000 mark early Wednesday. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — noted major dips as the overall Market Fear & Greed Index stood at 52 (Neutral) out of 100, as per CoinMarketCap data. The Cosmos (ATOM) token emerged as the biggest gainer of the lot, with a 24-hour jump of over 4 percent. The Arweave (AR) token, which was the biggest gainer yesterday, became the biggest loser, with a 24-hour dip of over 16 percent. 

The global crypto market cap stood at $2.22 trillion at the time of writing, registering a 24-hour dipof 5.15 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $60,150.75, registering a 24-hour dip of 5.27 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 54.95 lakh.

Ethereum (ETH) Price Today

ETH price stood at $3,006, marking a 24-hour dip of 5.28 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.76 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour loss of 7.66 percent, as per CoinMarketCap data, currently priced at $0.1322. As per WazirX, Dogecoin price in India stood at Rs 12.20.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour dip of 4.38 percent. At the time of writing, it was trading at $79.43. LTC price in India stood at Rs 7,239.40.

Ripple (XRP) Price Today

XRP price stood at $0.5036, seeing a 24-hour loss of 2.35 percent. As per WazirX, Ripple price stood at Rs 45.89.

Solana (SOL) Price Today

Solana price stood at $126.05, marking a 24-hour dip of 7.09 percent. As per WazirX, SOL price in India stood at Rs 11,511.78. 

Top Crypto Gainers Today (May 1)

As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:

Cosmos (ATOM)

Price: $8.53
24-hour gain: 4.59 percent

Optimism (OP)

Price: $2.55
24-hour gain: 0.65 percent

Tron (TRX)

Price: $0.12
24-hour gain: 0.18 percent

Starknet (STRK)

Price: $1.23
24-hour gain: 0.13 percent

UNUS SED LEO (LEO)

Price: $5.85
24-hour gain: 0.10 percent

Top Crypto Losers Today (May 1)

As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:

Arweave (AR)

Price: $30.10
24-hour gain: 16.28 percent

Stacks (STX)

Price: $2.06
24-hour gain: 15.19 percent

Sei (SEI)

Price: $0.5457
24-hour gain: 11.75 percent

Lido DAO (LDO)

Price: $1.89
24-hour gain: 11.66 percent

Neo (NEO)

Price: $16.30
24-hour gain: 10.87 percent

What Crypto Exchanges Are Saying About Current Market Scenario

The CoinSwitch Markets Desk noted, “With the broader crypto market awaiting an upside break, BTC (-5.8%) broke its $60k support on the downside. BTC has reached its lowest price point in close to two months. Ethereum (ETH, -6.2%) fell sharply, but maintained its up trend from the lows of 13th April, and trading above $2.8k. While this move could be attributed to a pending technical correction, another catalyst of the same was the world’s largest crypto exchange Binance’s former CEO getting his sentence announced yesterday. CZ was given a sentence to serve jail time for 4 months. Many are hailing it as a positive development given Binance can now officially be free from the US regulators, barring the fine that they had paid. BNB token would be one of the cryptos that investors will keep a look out for, in the coming days or weeks.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin (BTC) dipped to $59,500 ahead of tomorrow's Federal Open Market Committee (FOMC) meeting as market players brace for a potentially hawkish stance from the Federal Reserve (Fed). The CME FedWatch Tool indicates a mere 4.4% chance of a rate cut, while 95.6% anticipate rates to remain between 525-550 basis points. Bitcoin hovers around $60,100, down over 6% in 24 hours amidst renewed economic uncertainty.”

Shivam Thakral, CEO of BuyUcoin, said, “Bitcoin is down over 16% through April and once again retesting the crucial support zone of $58k - $60k. This zone holds significant importance for the short-term prospects of altcoins. However, if it is lost, altcoins could potentially suffer further downside. The highly anticipated Bitcoin and Ether ETFs in Hong Kong didn't impress traders, with trading volume barely exceeding $10 million.” 

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Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.