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Cryptocurrency price today: All major cryptocurrencies except Tether and the US dollar posted minor losses at the open on Wednesday, May 4 as markets remained choppy the day before the Federal Open Market Committee meeting and amid tensions between Russia and Ukraine. The global cryptocurrency market has remained flat, which indicates the lack of decision of investors to trade the business. Although Bitcoin briefly crossed the $38,000 mark, it rebounded later in the day and remained close to the $37,000 level.
Bitcoin price today at the time of writing was at $3,8121.56, according to data from global crypto-tracking website CoinMarketCap. This has decreased by 1.04 percent in the past 24 hours. The world’s largest cryptocurrency has fallen 0.80 percent in the past seven days, according to the data.
“Bitcoin markets have rebounded above $38,000; bitcoin price action has been fairly flat over the past 24 hours, indicating traders are reluctant. Market participants will likely expect price volatility to continue for the rest of the week as the Fed approaches of his decision to raise interest rates in May.
The second most popular cryptocurrency in the world, it also slipped slightly on the day. Today’s price of Ether was standing at $2,795.88 at the time of writing, and it is down 1.68 percent in the past 24 hours. Ethereum price is down 1.80 percent over the past seven days. On the other hand, data showed that the popular altcoin Solana lost more than 3 percent to reach $86.01.
The global cryptocurrency market cap was trading at $1.72 trillion, up slightly by 0.51 percent over the past 24 hours. Data from CoinMarketcap on the day showed that the total volume of the cryptocurrency market over the past 24 hours is $71.74 billion, which is a 12.55 percent drop.
The Federal Open Market Committee (FOMC) meeting on Wednesday could lead to a 50 basis point rate hike. Usually, an increase in interest rates can negatively affect the cryptocurrency and stock markets as investors are more cautious. Bitcoin’s current high correlation with the stock market means that the digital asset may face selling pressure in the market,” added Bateja.
Here are the top 10 cryptocurrencies and their prices on May 3, 2022 (data from coinmarketcap.com)
Bitcoin $38121.56 or 1.04 percent loss in the past 24 hours
Ethereum $2,795.88 or 1.68 percent loss in the last 24 hours
Earn $1.00 or 0.01 percent in the last 24 hours
BNB $386.32 or 0.97 percent loss in the last 24 hours
USD Coin gained $1 or 0.01 percent in the last 24 hours
XRP $0.6087 or 1.35 percent loss over the past 24 hours
Solana $86.01, or a 3.01 percent loss in the last 24 hours
Terra $83.81 or 1.01 percent gain in the last 24 hours
Cardano $0.7788 or 1.43 percent loss over the past 24 hours
TerraUSD 0.9999 or 0.10 percent loss in the last 24 hours
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