Days after dipping below the $20,000 mark, Bitcoin recovered and rose above the same level on the day.
Cryptocurrency price on May 4: Bitcoin price today, at the time of writing this article, stood at $38,121.56 according to data
Cryptocurrency Price Today: All major cryptocurrencies except Tether and USD Coin suffered slight losses at the open on Wednesday, May 4, as markets remained choppy the day ahead of the FOMC meeting and amid tensions between Russia and Ukraine. The global cryptocurrency market remained flat, signifying investors' indecision to trade the company. Although Bitcoin briefly crossed the $38,000 mark, it bounced back later in the day and remained close to the $37,000 level.
The Bitcoin price today stood at $38,121.56 at the time of writing this article, according to data from global cryptocurrency tracking website CoinMarketCap. This has fallen by 1.04 percent in the past 24 hours. According to data, the world's largest cryptocurrency has fallen 0.80 percent over the past seven days.
“Bitcoin markets retreated and priced above $38,000; BTC price movement has been more or less flat over the past 24 hours, indicating indecisiveness from traders. Market participants will most likely expect price volatility to continue for the remainder of the week as the Fed approaches its May rate hike decision,” said Darshan Bathija, CEO and co-founder of Vauld.
The world's second most popular cryptocurrency also fell slightly that day. The Ether price stood at $2,795.88 at the time of writing today and has fallen 1.68 percent over the past 24 hours. The price of Ethereum has fallen by 1.80 percent in the past seven days. On the other hand, popular altcoin Solana lost more than 3 percent to be valued at $86.01, data showed.
The global cryptocurrency market capitalization traded at $1.72 trillion, up slightly 0.51 percent in the past 24 hours. The total crypto market volume over the past 24 hours is $71.74 billion, down 12.55 percent, CoinMarketcap data showed that day.
“The Federal Open Market Committee (FOMC) meeting on Wednesday could result in a 50 basis point rate hike. Normally, a rate hike could negatively impact the crypto and stock markets as investors are more cautious. Bitcoin's current high correlation with the stock market means the digital asset could face selling pressure in the market,” Bathija said.
Here are the top 10 cryptocurrencies and their prices as of May 3, 2022 (data from Coinmarketcap.com)
Bitcoin $38,121.56 or 1.04 percent loss in the last 24 hours
Ethereum $2,795.88 or 1.68 percent loss in the last 24 hours
Tether $1.00 or 0.01 percent gain in the last 24 hours
BNB $386.32 or 0.97 percent loss in the last 24 hours
USD Coin $1 or 0.01 percent gain in the last 24 hours
XRP $0.6087 or 1.35 percent loss in the last 24 hours
Solana lost $86.01 or 3.01 percent in the last 24 hours
Terra $83.81 or 1.01 percent gain in the last 24 hours
Cardano lost $0.7788 or 1.43 percent in the last 24 hours
TerraUSD $0.9999 or 0.10 percent loss in the last 24 hours
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