Bitcoin’s price dipped below $76,000 yesterday as the war uncertainty continues to build up, but has rebounded by over a grand since then, ahead of the FOMC meeting today.
Most larger-cap alts are also slightly in the green today, with ETH reclaiming $2,300 and BNB defending the $625 level. DOGE has surged the most from this cohort of assets.
BTC Back to $77K
After it dipped below $74,000 last Monday, the primary cryptocurrency went on an impressive roll, surging to a multi-month peak of $79,500 by Tuesday when the US and Iran extended their ceasefire. Several choppy days of trading followed in which BTC remained in a relatively tight range between $77,000 and $78,500, and even the weekend developments on the war couldn’t really shake it.
The bulls returned on Monday morning somewhat unexpectedly and drove bitcoin to $79,500 once again, only to be rejected instantly. In the following hours, BTC first dropped to $77,500 before it dived to $76,500.
The bears took it a step further yesterday despite Trump’s claims that Iran is in a state of defeat, and BTC slipped to a multi-day low of $75,600. Nevertheless, it has jumped to over $77,000 as of now, but more volatility is expected after today’s FOMC meeting, as many experts believe it would be another correction.
For now, BTC’s market cap stands close to $1.550 trillion on CG, while its dominance over the alts is down to 58%.
BTCUSD April 29. Source: TradingView
Alts See Green
Ethereum has recovered nearly 2% of value in the past 24 hours and sits well above $2,300 as of now. XRP, BNB, SOL, TRX, ADA, BCH, and XMR are also slightly in the green. Dogecoin has jumped by over 7% to go beyond $0.105 as of press time.
PUMP, ASTER, TAO, and Pi Network’s PI token follow suit. In fact, PI has jumped by more than 15% in the past week and tapped a monthly high at $0.20 earlier today before it was stopped. Some analysts used this resurgence to outline massive price predictions, including a potential 1,400% pump for PI.
The total crypto market cap has increased by roughly $50 billion from yesterday’s low and is above $2.670 trillion on CG now.
Cryptocurrency Market Overview April 29. Source: QuantifyCrypto
