Cryptocurrency price today: Even after weeks of slump in the cryptocurrency market, cryptocurrency prices do not appear to be moving upward by significant margins as they have been holding steady for several days. On May 26, Thursday, the global cryptocurrency market was also flat, but in the red, having fallen slightly over the past 24 hours. The negative sentiment in the global cryptocurrency market mirrors that of the stock markets, which have been affected by many reasons including inflation. The global cryptocurrency market is down 1.62 percent over the past day, valued at $1.25 trillion, according to the data.
Today, the price of Bitcoin once again fell below $30K. Bitcoin price today was standing at $2,9675.87 at the time of writing, which is down 0.26 percent over the past 24 hours.
Bitcoin has remained fairly neutral throughout the past day without any significant movement. Crypto market sentiment continued to remain in the “extreme fear” territory. However, trading volumes on the exchanges have increased in the past two weeks or so. On the hourly time frame, the BTC trend continues to cross the triangle pattern. The next resistance for Bitcoin is expected at $40K, and the immediate support is expected at $24K.
BTC continued to show little volatility and moved sideways most of the time. It was priced at under $30,000 levels,” said Darshan Bateja, CEO and co-founder of Fuld.
“Social sentiment is in direct proportion to price. The rise in crypto-related social media content generally leads to a rush by traders and investors to buy cryptocurrencies which in turn leads to a price jump,” WazirX Trading Desk added.
Meanwhile, the price of Ether today has also fallen to $1,923.06 while writing this article. This is down 2.88 percent over the past 24 hours.
“ETH traded below $2000. ETH Consolidation – Ethereum transition from POW to POS likely to occur in August. Bullish sentiment on the impact of the merger price is likely to be subdued due to larger macroeconomic conditions,” Batega said.
Here are the top 10 cryptocurrencies and their prices on May 26, 2022 (according to data from coinmarketcap.com)
Bitcoin $29675.87 or 0.26 percent loss in the past 24 hours
Ethereum $1,923.06 or 2.88 percent loss in the last 24 hours
Tying in $0.999 or 0.01 percent gain in the last 24 hours
USD Coin gained $1 or 0.05 percent in the last 24 hours
$321.33 BNB or 2.70 percent loss in the last 24 hours
XRP $0.3981 or 2.34 percent loss in the last 24 hours
Binance gains $1.00 or 0.09 percent over the past 24 hours
Cardano $0.504 or 2.41 percent loss over the past 24 hours
Solana $46.33 or 5.32 percent loss in the last 24 hours
Dogecoin $0.08058 or 3.04 percent loss over the past 24 hours