BTC rose 0.29% to $29,230, while ETH was above the $1,900 level. BTC volume in the last 24 hours stood at approximately $16.57 billion, falling 14.90% in the last 24 hours.
“BTC is holding strong above the $29,000 mark while Ether is almost touching the $1900 level. The crypto market is witnessing restricted growth due to high inflation and other macroeconomic factors and the Jobs data on Friday will act as a key stimulant for the market momentum,” Shivam Thakral, CEO of BuyUcoin, said.
The global cryptocurrency market cap was trading flat at around $1.20 trillion, falling 0.02% in the last 24 hours.
The total volume in DeFi stood at 2.21 billion, 6.52% of the total crypto market 24-hour volume. The volume of all stablecoins stood at $30.49 billion, which is 89.89% of the total crypto market 24-hour volume.
The market cap of Bitcoin, the world’s largest cryptocurrency, was around $565 billion. Bitcoin’s dominance was at 47.25%, an increase of 0.12% over the day, according to CoinMarketCap.
“BTC continues to hover around $29k, up 0.9% from yesterday. However, BTC’s dominance rate in the broader markets has risen to a 22-month high of 49 percent. Experts believe this to be a result of the ongoing banking woes in the US,” Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, said.Rajagopal Menon, Vice President at WazirX said, “Major market oscillators point toward a Neutral sentiment. The Relative Strength Index (14), one of the key indicators, sits at 55, with a neutral outlook. The Stochastic %K (14, 3, 3) and the Average Directional Index (14) is at 68 and 20, respectively, further indicating a Neutral market.”
“The MACD Level (12, 26) at 186 indicates a Sell. The Stochastic RSI Fast (3, 3, 14, 14) is at 74 with a Neutral indicator, while the Williams Percent Range (14) at −24 signals Neutral,” Menon added.
Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 12.27 hours, IST on May 05, 2023)
Bitcoin $29,230 0.29%
Ethereum $1,902 0.02%
Tether $1.00 0.03%
BNB $325 -0.46%
XRP $0.4637 0.27%
Cardano $0.3908 -0.98%
Dogecoin $0.07869 -0.96%
Polygon $0.9881 -1.03%
Solana $21.76 -2.17%
Polkadot $5.73 -0.33%
Shiba Inu $0.000009947 -1.05%
Litecoin $88.07 -0.60%
Tron $0.06967 0.54%
(Note: Price change in last 24 hours)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)