The cryptocurrency market is showing mixed performance today ahead of the weekly open in the U.S. stock market. With Bitcoin pushing back from weekly highs, altcoins have experienced slight declines.
With the upcoming Federal Open Market Committee (FOMC) meeting on May 6-7, the crypto market is poised to be influenced significantly after it, as investors closely monitor the Federal Reserve’s stance on interest rates and monetary policy.
Market Overview
Bitcoin (BTC): Showing resilience, Bitcoin is regaining ground with its price hovering around $94K, reflecting a slight decline of about 1.4% in the last 24 hours but maintaining strong bullish momentum overall. Analysts suggest potential highs between $96,000 and $98,000 in coming hours, driven by institutional refreshed weekly sentiment and anticipation around the upcoming FED meeting.
ETH, XRP & SOL: Leading altcoins, Ethereum (ETH), XRP, and Solana (SOL) are navigating a mixed market landscape. ETH, priced around $1,800 is holding steady with a minimal 1.3% dip while SOL is trading near $144, down 0.90% today. Meanwhile, XRP has dropped 2% today with it now trading at $2.14—as per CoinMarketCap data.
Other Altcoins: Many altcoins are experiencing minor drops, with trending coins like SUI, LTC, GORK, and AKT showing varied performance. The current altcoin market sentiment hints at a potential turnaround, with May historically being a solid month for crypto performance.
Trending Crypto Today
- SUI (Sui)
- LTC (Litecoin)
- GORK (New XAI gork)
- XRP (XRP)
- AKT (Akash Network)
Today’s Top Gainers
- WAL (Walrus): 11%
- CORE (Core): +10%
- FORM (Four): +8%
- SUI (Sui): +6%
- VIRTUAL (Virtuals Protocol): +6%
Today’s Top Losers
- ENS (Ethereum Names Service): -7%
- LEO (UNUS SED LEO): -5%
- TON (Toncoin): -4%
- FET (Artificial Superintelligence Alliance): -4%
- IOTA (Iota): -3%
The global crypto market cap sits at $2.93 trillion, which is down 1.20% today, reflecting a dynamic yet volatile market landscape. The 24 hour trading volume currently sits at $58.30 billion.
Also Read: Elon Musk’s Gork Tweet Sends Memecoin Soaring 70%
