Cryptocurrency price

Bitcoin Low in a Month, Ether, Solana Drop Sharply; Complete list

Cryptocurrency price today: The sudden rise in the price of cryptocurrency following the Fed’s interest rate hike proved to be short-lived, with the global cryptocurrency market plunging on Friday, May 6 amid weak market signals. The cryptocurrency’s market capitalization bled heavily as it took a hit, dropping as much as 7.42% to $1.67 trillion, the data showed. Bitcoin was at its lowest in a month, while altcoins also suffered significant declines. Avalanche suffered a 15% loss, while Solana and Cardano lost 12% each.
The price of bitcoin today stood at $36,264.00 at the time of writing, a steep drop of 8.22% in the last 24 hours. On the other hand, Ether price was trading today at $2,723.22 as of this writing, down 6.91% in the last 24 hours.

“Bitcoin corrected significantly to fall below $36,000. Bitcoin fell 8% in a single day as global stock markets fell sharply with the FOMC announcing a 0.5% interest rate hike. In addition, the increasing outflow of BTC from the exchanges has also caused bearish sentiment among investors. The daily trend for BTC has broken out of the long triangle pattern. The next resistance is expected at $48,600 and immediate support for BTC is expected at levels of $33,100,” the WazirX Trade Desk said.

“Global crypto and equity markets continue to move south as sellers dominated traditional and crypto markets throughout the week. The overall crypto market is down almost 4%, with Bitcoin losing 10% to find new lower support level while Ether fell 4%. TRX was one of the few crypto assets to trade green and saw an increase of around 3.5%,” said Shivam Thakral, CEO of BuyUcoin.

“The Federal Open Markets Committee result and press briefing from Fed Chief Jerome Powell gave the crypto market a slight boost as the committee decided to raise the interest rate by 50 basis points and made plans to calm inflation. Most of the crypto gains were short-lived and the crypto market plunged again after sellers returned to the market,” he added.

Here are the top 10 cryptocurrencies and their prices as of May 6, 2022 (data from coinmarketcap.com)

Bitcoin $36,264.00 or 8.22% loss in the last 24 hours

Ethereum $2,723.22 or 6.91% loss in the last 24 hours

Tether $1.00 or 0.00% loss in the last 24 hours

BNB $378.22 or 5.27% loss in the last 24 hours

USD Coin $1 or 0.01% loss in the last 24 hours

XRP $0.6043 or 5.39% loss in the last 24 hours

Terra $79.86 or 6.60% loss in the last 24 hours

Solana $82.51 or 11.02% loss in the last 24 hours

Cardano $0.7923 or 9.66% loss in the last 24 hours

TerraUSD $0.9996 or 0.18% loss in the last 24 hours

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