Cryptocurrency price today: On Friday, April 29, Bitcoin, Ethereum and some other major crypto coins edged higher and led the global crypto market cap to return to green, with markets still remaining volatile amid hawkish views from the Fed. According to data from CoinMarketCap, the global cryptocurrency market capitalization stood at $1.81 trillion. This has increased slightly by 0.14% in the past 24 hours. On the other hand, the price of Bitcoin approached the $40,000 mark again today, after falling below $39,000 for the first time this month during a recent drop.
Bitcoin price today stands at $39,598.09 at the time of writing, according to data from CoinMarketCap. This has increased by 0.46% in the last 24 hours, but has decreased by 2.74% in the last seven days
“Social interest, especially in buying the dip, has increased during the recent BTC pullback. According to on-chain data from Santiment, the social volume of BTC has increased significantly over the past few days. Although BTC broke above the $40,000 level today, it quickly fell below the same level,” said Darshan Bathija, CEO and co-founder of Vauld.
“What this indicates is that Bitcoin’s price recovery will not be a walk in the park. IntoTheBlock’s IOMAP pattern highlights a huge barrier ranging from $39,099 to $40,245. Investors who bought BTC in this area would look to sell off, adding to the selling pressure,” he added.
“We also have to keep in mind that nearly $2 billion worth of options will expire today; it is highly likely that market participants will try to push BTC below $39,000,” Bathija added to News18.com.
The price of Ether also rose slightly by 0.75%. The value of one Ethereum, the second most popular cryptocurrency after Bitcoin, stood at $2,925.63 at the time of writing this article. Bitcoin prices are down 3.11% over the past seven days.
“Ethereum has regained lost ground over the past couple of days to top $2,900 and gained almost 4% over the period. Ethereum vs. Bitcoin fell slightly with the BTC dominance index remaining slightly above 42% for the first time in 25 days We might expect Ethereum to weaken against BTC in the coming days as Bitcoin’s is expected to rise at a steady rate The daily trend for ETH against BTC continues its movement in a megaphone pattern. Next resistance is expected at 0.078 and next support is expected at 0.0653,” WazirX trade desk said.
Dogecoin has remained in 10th position among major cryptocurrencies for four consecutive days, having beaten Avalanche, as investors have been rushing to invest in this memecoin since Tuesday. This was a direct result of Tesla CEO Elon Musk backing Dogecoin in the past, buying Twitter.
Here are the top 10 cryptocurrencies and their prices as of April 27, 2022 (data from coinmarketcap.com)
Bitcoin $39,598.09 or 0.46% gain in the last 24 hours
Ethereum $2,925.63 or 3.28% gain in the last 24 hours
Tether $1.00 or 0.00% gain in the last 24 hours
BNB $405.95 or 3.39% gain in the last 24 hours
USD Coin $0.9998 or 0.01% gain in the last 24 hours
Solana $97.85 or 1.63% loss in the last 24 hours
XRP $0.6408 or 1.37% loss in the last 24 hours
Terra $87.01 or 2.91% loss in the last 24 hours
Cardano $0.8369 or 0.42% loss in the last 24 hours
Dogecoin $0.1408 or 0.76% gain in the last 24 hours
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