Crypto Week Ahead: Global Market Cap Fails To Hold On To Streak. BTC, ETH Show Signs Of Slump

Over the past seven days, Bitcoin (BTC) price achieved a high of $29,970.67.

The global crypto market cap, at the time of writing, stood at $1.18 trillion. This is the same mark where it stood a week ago on April 24 and despite climbing up to $1.21 trillion over the past week, it failed to hold on to the streak. Bitcoin (BTC) and Ethereum (ETH), two of the most valued and popular cryptocurrencies, started this week with a slump in prices, signalling investors to prepare for a lacklustre week ahead.

Before we proceed further, readers should note that the overall crypto market and coin prices are extremely volatile in nature. There are no foolproof methods to ascertain how cryptocurrencies are expected to behave in the future. This article is aimed at helping investors stay on top of the current market scenarios and the biggest events that have already taken place as well as some upcoming occurrences that are worth noting. Investors are advised to do their own research before taking any call. 

Crypto Prices Over The Past Week

Last Monday (April 24), the overall crypto market cap stood at $1.18 trillion. BTC price stood at around $28,270.13, ETH price stood at around $1,814. 

A week later, the overall market cap remained at $1.18 trillion despite climbing up to $1.21 trillion a few days ago, as per CoinMarketCap data. BTC and ETH managed to climb above the $29,000 and $1,900 marks, respectively, but dipped back again to $28,000 and $1,800 marks over the weekend

DeFi's total volume stands at $2.60 billion, at 6.67 percent of the total market 24-hour volume. In case of stablecoins, the overall volume stands at $35.85 billion, at 91.85 percent of the total 24-hour market volume.

BTC dominance, at the time of writing, stood at 46.82 percent.

Over the past seven days, Bitcoin achieved a high of $29,970.67 (on April 26) and a low of $28,185.53 (April 24), showing signs of a relatively weak run.

Ethereum, on the other hand, saw a high of $1,961.02 (April 26) and a low of $1,806.27 (April 27).

Crypto Events To Note

While there are no major crypto events lined up in the coming week, the US Federal Open Market Committee (FOMC) is set to meet on May 2-3, where a rate hike of 25 basis points is expected, which can lead to a rally in prices for top crypto coins including the likes of BTC, ETH, Ripple (XRP), and others. 

The US Jobs Report is also expected by the end of this week, and if it’s a favourable one, it’s safe to expect some gains across the board, as per earlier trends. 

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.