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Cryptocurrency price today: Bitcoin has been trading below $40,000 for a week now and on Monday, May 2, the world’s largest cryptocurrency couldn’t get past that level. At the time of writing this article, Bitcoin price today It was standing at $38912.05, according to data from CoinMarketCap. This has increased by 2.26 percent in the past 24 hours and by 1.23 percent in the past seven days. Bitcoin Prices remained volatile amid volatile markets fueled by the hawkish views of the Federal Reserve and the Russia-Ukraine war.
“BTC (Bitcoin) traded below the psychological level of $40,000 over the past week with low volumes. Weekends have been choppy with the asset seeing a dip on Saturday and recovering on Sunday. BTC is up 1.68 percent in the past 24 hours. Its dominance is It is currently 42.25 percent and the market value is $736 billion. At the time of writing, BTC is trading at $38,678,” WazirX Trade Desk said in a note to news18.com.
US inflation figures are at their highest level in 40 years, and the hawkish Federal Reserve is taking aggressive steps to neutralize its impact. The interest rate is expected to be raised by about 50 basis points this week, which has raised concerns in the traditional and crypto markets globally. “Bitcoin has been trading below $40,000 for some time and reached a two-month low in yesterday’s trading,” said Shivam Thakral, CEO of BuyUcoin.
Today, the price of Ether is up 2.08 percent to trade at $2,838.36 at the time of writing. Altcoins have also seen significant declines over the past few days amid expectations that the US Federal Reserve will raise interest rates.
“The most popular altcoin Ether lost some momentum to settle at the $2800 level. The Altcoin space also saw a significant drop with Solana, Ripple, Terra, Cardano, Dogecoin, Polkadot, Avalanche and Sheba Inu deep in the red.”
Data from CoinMarketCap on Monday showed the global cryptocurrency market cap rose 1.73 percent to $1.75 trillion. “There is no relief in sight for the financial markets until the next meeting of the Federal Open Market Committee. The total cryptocurrency market volume reached $80.32 billion, down 6 percent, and the total cryptocurrency market capitalization is up 1.44 percent and is currently $1.74 trillion.”
Here are the top 10 cryptocurrencies and their prices on May 2, 2022 (data from coinmarketcap.com)
Bitcoin $38,912.05 or 2.26% gain in the past 24 hours
Ethereum $2,838.36, or 2.08 percent increase in the last 24 hours
Assess a loss of $1.00 or 0.01 percent in the last 24 hours
BNB $389.45 or 1.04 percent gain in the last 24 hours
USD Coin 1 USD or 0.03% loss in the last 24 hours
XRP $0.6226 or 5.19 percent gain in the last 24 hours
Solana $88.82, or 0.86 percent loss over the past 24 hours
Terra $82.90 or 2.37 percent gain in the last 24 hours
Cardano is $0.7866, or 1.64 percent, a gain in the last 24 hours
TerraUSD 0.9997 or 0.15 percent loss in the last 24 hours
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