Bitcoin and Ether fell slightly today
Cryptocurrency Price Today, April 29: Bitcoin price today stood at $39,598.09 at the time of writing this article, data showed
Cryptocurrency Price Today: Bitcoin, Ethereum and some other major cryptocurrencies rose slightly on Friday, April 29, turning the global crypto market cap back into the green as markets continued to remain volatile amid the Fed's hawkish stances. According to data from CoinMarketCap, the global cryptocurrency market cap was $1.81 trillion. This had risen slightly by 0.14 percent in the past 24 hours. On the other hand, Bitcoin price again approached the $40,000 mark today after dipping below $39,000 for the first time this month during a recent decline.
The Bitcoin price today stood at $39,598.09 at the time of writing this article, according to data from CoinMarketCap. This was up 0.46 percent in the past 24 hours, but up 2.74 percent in the past seven days
“Social interest, especially in buying the dip, has increased during BTC's recent pullback. According to on-chain data from Santiment, social volume for BTC has increased significantly in recent days. Although BTC crossed 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 model highlights a huge barrier ranging from $39,099 to $40,245. Investors who bought BTC in this zone would try to liquidate, which would increase selling pressure,” he added
“We must also keep in mind that nearly $2 billion worth of options are set to expire today; it is very likely that market participants will try to push BTC below $39,000.” Bathija further told News18.com.
The Ether price also rose slightly by 0.75 percent today. The value of one Ethereum, the second most popular cryptocurrency after Bitcoin, was $2,925.63 at the time of writing this article. Bitcoin prices have fallen 3.11 percent over the past seven days.
“Ethereum has regained some lost ground in recent days to rise above $2,900 and gain almost 4% during that period. Ethereum versus Bitcoin fell marginally, with BTC's dominance index remaining above 42% for the first time in 25 days. We can expect Ethereum to weaken against BTC in the coming days as Bitcoin is expected to rise steadily. The daily trend for ETH against BTC continues its movement within a megaphone pattern. The next resistance is expected at 0.078 and the next support is expected at 0.0653,” the WazirX trading desk said.
Dogecoin remained at the 10th position among the top cryptocurrencies for four days in a row, after beating Avalanche, as investors rushed to invest in this memecoin since Tuesday. This was a direct result of Tesla CEO Elon Musk, who has backed Dogecoin in the past, purchasing 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 percent gain in the last 24 hours
Ethereum $2,925.63 or 3.28 percent gain in the last 24 hours
Tether $1.00 or 0.00 percent gain in the last 24 hours
BNB $405.95 or 3.39 percent gain in the last 24 hours
USD Coin $0.9998 or 0.01 percent gain in the last 24 hours
Solana lost $97.85 or 1.63 percent in the last 24 hours
XRP $0.6408 or 1.37 percent loss in the last 24 hours
Terra $87.01 or 2.91 percent loss in the last 24 hours
Cardano $0.8369 or 0.42 percent loss in the last 24 hours
Dogecoin $0.1408 or 0.76 percent gain in the last 24 hours
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