Although the US Federal Reserve kept the interest rates unchanged as essentially everyone expected, BTC still dipped to a multi-day low of just under $75,000 before it rebounded by a grand.
Ethereum and HYPE have lost the most value from the larger-cap alts, while RAIN has defied the trend with a notable 6% surge.
BTC Rebounds After FOMC Dip
Although the US delegation was stopped from going to Pakistan for potential peace talks with Iran over the weekend and there was an alleged attempt on Trump’s life at a White House event, BTC began the business week on the right foot. After trading sideways around $77,500 on Saturday and most of Sunday, the asset flew to $79,500 on Monday morning.
However, the bears were quick to intercept the move and pushed it south immediately to its starting point. Hours later, the cryptocurrency plunged again, this time to $76,500. The selling pressure continued on Tuesday, and BTC dipped below $76,000 before it rallied to almost $78,000 before the highly anticipated third FOMC meeting on Wednesday.
Once it concluded and it became known that the Fed won’t change the rates, as expected, bitcoin slid once again, this time to just under $75,000. It has recovered around a grand since then, but it’s still down by over 1%. Its market cap has slipped to $1.520 trillion, while its dominance over the alts remains at 58% on CG.
BTCUSD April 30. Source: TradingView
WLFI, PI Drop
Most larger-cap alts are in the red today, with ETH sliding by roughly 3% to $2,250. HYPE has lost the $40 support after a 2.5% decline. BNB, XRP, SOL, ADA, BCH, and LINK have posted losses of 1-2%.
WLFI has plunged the most from the top 100 alts today after recent reports about a suspicious partnership. The token is down by over 16% to $0.06. Pi Network’s native token follows suit, as a 11% drop has pushed it to $0.175. Recall that the asset challenged the $0.20 resistance yesterday, where it was violently rejected.
RAIN has defied the overall market correction with a 6% pump to almost $0.008.
The total crypto market cap is down by over $60 billion since yesterday’s high to $2.620 trillion on CG.
Cryptocurrency Market Overview April 30. Source: QuantifyCrypto
