Cryptocurrency Price Today: Bitcoin Recovers From Losses, Rises Above $64,000 Over The Weekend

Cryptocurrency price on May 6 quick take: The global market cap rose to $2.23 trillion.

Bitcoin price stood at $64,102.01 on Monday. ( Image Source :Getty )

Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to climb above the $64,000 mark over the weekend, primarily driven by the favourable US April jobs report. Other popular altcoins — including the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) — landed in the greens as the overall Market Fear & Greed Index stood at 58 (Neutral) out of 100, as per CoinMarketCap data. Sam Altman’s Worldcoin (WLD) token emerged as the biggest gainer of the lot, with a 24-hour jump of over 16 percent. Memecoin dogwifhat (WIF) became the biggest loser, with a 24-hour dip of over 3 percent. 

The global crypto market cap stood at $2.36 trillion at the time of writing, registering a 24-hour gain of 1.13 percent.

Bitcoin (BTC) Price Today

Bitcoin price stood at $64,102.01, registering a 24-hour gain of 1.01 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 55.30 lakh.

Ethereum (ETH) Price Today

ETH price stood at $3,136.38, marking a 24-hour gain of 1.71 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 2.73 lakh.

Dogecoin (DOGE) Price Today

DOGE registered a 24-hour jump of 1.97 percent, as per CoinMarketCap data, currently priced at $0.1624. As per WazirX, Dogecoin price in India stood at Rs 14.17.

Litecoin (LTC) Price Today

Litecoin saw a 24-hour dip of 0.28 percent. At the time of writing, it was trading at $81. LTC price in India stood at Rs 7,016.86.

Ripple (XRP) Price Today

XRP price stood at $0.5345, seeing a 24-hour jump of 1.27 percent. As per WazirX, Ripple price stood at Rs 46.30.

Solana (SOL) Price Today

Solana price stood at $146.53, marking a 24-hour gain of 1.66 percent. As per WazirX, SOL price in India stood at Rs 12,801.03. 

Top Crypto Gainers Today (May 6)

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

Worldcoin (WLD)

Price: $5.86
24-hour gain: 16.06 percent

Fetch.ai (FET)

Price: $2.40
24-hour gain: 13.02 percent

SingularityNET (AGIX)

Price: $0.9844
24-hour gain: 12.07 percent

AIOZ Network (AIOZ)

Price: $0.7591
24-hour gain: 11.35 percent

Arweave (AR)

Price: $40.09
24-hour gain: 10.96 percent

Top Crypto Losers Today (May 6)

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

dogwifhat (WIF)

Price: $3.28
24-hour gain: 3.33 percent

Core (CORE)

Price: $1.94
24-hour gain: 2.39 percent

Nervos Network (CKB)

Price: $0.01862
24-hour gain: 2.23 percent

Sei (SEI)

Price: $0.5608
24-hour gain: 2.20 percent

Bonk (BONK)

Price: $0.00002662
24-hour gain: 1.89 percent

What Crypto Exchanges Are Saying About Current Market Scenario

Mudrex co-founder and CEO Edul Patel told ABP Live, “After hitting a low of $56,000 last week, Bitcoin has surged back to $64,000, spurred by a cooler-than-expected US April jobs report. The Bitcoin network has now processed over 1 billion transactions, a significant milestone since its inception. The immediate resistance lies at the $64,500 level, while the support lies at the $62,400 level. We might likely see Bitcoin trading sideways between $62,000 and $66,000 this week.”

Parth Chaturvedi, Investments Lead, CoinSwitch Ventures, said, “The crypto market has rebounded from last week’s dip on the back of the recent US jobs data that was much lower than the forecasts and signals towards a slowing economy. With a slower economy, inflation is bound is slow down leading to lower interest rates. The top 10 cryptos by M.Cap. are trading in green. Additionally, recent market trends indicate a balance between price shifts and liquidations, signalling market stabilisation. BTC seems to be consolidating around $64k. However, the key resistance level remains around $65k.”

Rajagopal Menon, Vice President, WazirX, said, “While price increase for BTC hasn’t been too significant in the last week, the market exhibits a strong ‘Buy’ sentiment which can be further exacerbated by the token crossing $64100 level which is the immediate resistance. However, failing to do so might trigger a sell off. The Relative Strength Index (RSI) stands neutral at 49.19, highlighting a delicate balance between bullish and bearish sentiments.”

Sathvik Vishwanath, CEO and co-founder of Unocoin, said, “Bitcoin is demonstrating resilience, trading at $64,265, up 1.20% in 24 hours, with a market cap of $1.27 trillion. Technical indicators on the 4-hour chart indicate bullish momentum supported by a breach of the 50-day EMA at $61,999 and a "three white soldiers" candlestick pattern. Resistance levels at $66,796 and $69,328 are potential targets, with $61,735 serving as key support. A descending channel around $63,200 could represent resistance, but a break above may propel Bitcoin towards higher resistances. Support levels at $59,550 and $56,625 offer stability on the downside. The RSI at 61 shows potential for further upside without becoming overloaded. Overall, Bitcoin's position looks strong, especially if it holds above $64,365.”

Shivam Thakral, CEO of BuyUcoin, said, “The recent US jobs report for April delivered promising data, alleviating concerns surrounding a potential rate hike by the US Federal Reserve. This positive development has catalysed a bullish sentiment in the crypto market, with Bitcoin surging above the $64,000 mark. Remarkably, Bitcoin has soared by over 10% in just 5 days, reflecting the market's confidence in its resilience amidst shifting economic indicators.”

CoinDCX Research Team told ABP Live, “Over the weekend, the crypto market experienced an uptrend, with both BTC and ETH gaining more than 5% in the last 2-3 days. BTC notably closed the week with a strong bullish sentiment, supported by positive price action and net positive ETF flows. Key support levels for BTC are observed around $57,000 and $59,000, while resistance levels are at $65,000, $67,500, and $71,400.”

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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.