Bitcoin and Ethereum Stalled at Key Levels, Bad Coin Dogecoin

Thursday night Bitcoin It rallied but failed to break the key $40K barrier in daily trading; Meanwhile, the global cryptocurrency market capitalization jumped 1.2% to $1.8 trillion.

Major currency price trends
Currency 24 hours 7 days price
Bitcoin (CRYPTO: BTC) + 1.1% -2.05% $39752.19
Ethereum (CRYPTO: ETH) + 1.5% -1.95% USD 2,935.79
Dogecoin (CRYPTO: DOGE) -2.9% + 0.5% $0.14
Coins gained the most in the last 24 hours (data from CoinMarketCap)
Cryptocurrency Percentage change in the last 24 hours (+/-) price
ApeCoin (bee) + 23.7% $24.04
Sky Network (SKL) + 20.4% $0.19
Pie (cake) + 10.6% 8.34 dollars

Because it’s important

Bitcoin and other major cryptocurrencies continue to outperform stocks. The S&P 500 and Nasdaq rose 2.5% and 3.1%, respectively, on Thursday after some of the major US companies reported strong earnings data.

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Economic data released on the same day showed that US GDP declined by 1.4% in the first quarter of 2022; In the same period, consumer spending increased by 2.7%.

The drop in GDP gives analysts and others hope that the Fed can temper its aggressiveness; This move will be interpreted as positive for cryptocurrencies.

Cryptocurrency trader Justin Bennett He said on Twitter that the graphical structures he follows indicate a drop on May 4, when the Federal Reserve holds its next meeting.

“A more dovish Fed will lead to a rally in stocks and [criptovalute]Bennett said.

founders glass Jan Wyan They tweeted that Fed action at next week’s monetary policy meeting “may have already been discounted”; Less risky results could help Bitcoin reach $42,000.

Meanwhile, the dollar continues to show extraordinary strength. The dollar hit a 20-year high against the yen on Thursday as the Japanese currency fell below 130 pips. The dollar index, a measure of the dollar’s strength against six other currencies, rose to an intraday high of 103.93, Reuters reports.

Thursday Michael van de Poppe He tweeted that the dollar will peak soon, while bitcoin will break out.

Santiment said on Twitter that the slight recovery in the bitcoin price over the past two days means that the bitcoin profit and loss ratio is on the rise; The world’s leading cryptocurrency is seeing some profit taking, according to the financial behavior analysis platform.

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