(Source: Dainik Bhaskar)
Cryptocurrency Price Today: Bitcoin Climbs Above $29,000, Ethereum Regains $1,900 Mark
Cryptocurrency price on May 4 quick take: The global market cap rose to $1.20 trillion.
Bitcoin (BTC), the oldest and most valued crypto coin, managed to climb above the $29,000 mark early Thursday following a 25-bps interest rate hike by the US Federal Reserve. Ethereum (ETH) also managed to climb above the $1,900 mark as well. Other popular altcoins — including the likes of Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), and Solana (SOL) — landed in the greens across the board. WOO Network (WOO) emerged to be the biggest gainer of the lot, with a 24-hour gain of over 10 percent.
The global crypto market cap stood at $1.20 trillion at the time of writing, registering a 24-hour gain of 1.51 percent.
Bitcoin (BTC) Price Today
Bitcoin price stood at $29,118.89, registering a 24-hour jump of 2.06 percent, as per CoinMarketCap. According to Indian exchange WazirX, BTC price stood at Rs 25.09 lakh.
Ethereum (ETH) Price Today
ETH price stood at $1,903.58, marking a 24-hour gain of 2.36 percent at the time of writing. As per WazirX, Ethereum price in India stood at Rs 1.64 lakh.
Dogecoin (DOGE) Price Today
DOGE registered a 24-hour jump of 1.43 percent, as per CoinMarketCap data, currently priced at $0.07949. As per WazirX, Dogecoin price in India stood at Rs 6.91.
Litecoin (LTC) Price Today
Litecoin saw a 24-hour gain of 0.94 percent. At the time of writing, it was trading at $88.47. LTC price in India stood at Rs 7,606.37.
Ripple (XRP) Price Today
XRP price stood at $0.4642, seeing a 24-hour jump of 0.35 percent. As per WazirX, Ripple price stood at Rs 40.
Solana (SOL) Price Today
Solana price stood at $22.25, marking a 24-hour gain of 1.66 percent. As per WazirX, SOL price in India stood at Rs 1,974.89.
Top Crypto Gainers Today (May 4)
As per CoinMarketCap data, here are the top five crypto gainers over the past 24 hours:
WOO Network (WOO)
Price: $0.2876
24-hour gain: 10.68 percent
Conflux (CFX)
Price: $0.328
24-hour gain: 7.31 percent
Fantom (FTM)
Price: $0.4422
24-hour gain: 7.16 percent
Rocket Pool (RPL)
Price: $51.90
24-hour gain: 7.01 percent
Render Token (RNDR)
Price: $2.21
24-hour gain: 6.14 percent
Top Crypto Losers Today (May 4)
As per CoinMarketCap data, here are the top five crypto losers over the past 24 hours:
Sui (SUI)
Price: $1.40
24-hour loss: 68.93 percent
Toncoin (TON)
Price: $2.05
24-hour loss: 2.87 percent
Huobi Token (HT)
Price: $3.26
24-hour loss: 1.70 percent
MultiversX (EGLD)
Price: $39.53
24-hour loss: 1.60 percent
Cronos (CRO)
Price: $0.07078
24-hour loss: 1.42 percent
What Crypto Exchanges Are Saying About Current Market Scenario
Mudrex co-founder and CEO Edul Patel told ABP Live, “Bitcoin regains strength following the US Federal Reserve's announcement of a 25 basis points hike in interest rates. With the Fed signalling that this could be the final increase for the time being, Bitcoin is currently trading at around $29,000, edging closer to its resistance levels of $29,420 and $30,000. In a similar vein, Ethereum has enjoyed a 2 percent increase in value, currently trading above the $1,900 mark. As Friday approaches, investors and traders are closely monitoring the upcoming release of US employment figures.”
WazirX Vice President Rajagopal Menon said, “Bitcoin prices are recovering after the 25 bps interest rate hike by the US Federal Reserve. However, some strategists say bank failures are now driving crypto prices, countering the Fed's actions. On WazirX, IDEX (IDEX) and Stacks (STX) have been the top gainers in the last 24 hours.”
Sathvik Vishwanath, CEO and co-founder of Unocoin said, “Bitcoin bounced back from the $28,100 level but faces strong resistance at the $29,295 level. A break above this level could lead to a target of $29,975 and eventually $30,000. However, the candlestick patterns indicate bearish sentiment, while the RSI and MACD indicators indicate a possible downtrend. The 50-day EMA also acted as a support area for around $28,800. Immediate support lies near $27,600 and a break below this level could lead to further declines towards $27,200. US Fed raises rates by 25 bps as expected.”
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.
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