Crypto Price Today: Bitcoin Price Falls Below $60,000, Dogecoin, Shiba Inu, Other Altcoins See Gains

In the past few weeks, Bitcoin has fallen below the $60,000 (approximately Rs. 50,000,000,000,000 rupees) price range for the first time in two months. As of Friday, May 3, Bitcoin was trading at a price of $57,690 (approximately Rs. 4.8 million), according to Indian exchanges. With a loss of about 0.15 percent, Bitcoin’s value in foreign exchange stands at $59,790 (approximately Rs. 49.85 billion). Bitcoin has been found trading in losses for much of this week after posting strong gains in April.

“This price decline suggests that there is buying activity at lower levels. Bitcoin has not yet recovered and has not yet gained enough strength to spike due to macroeconomic factors or geopolitical tensions. Bitcoin has seen resistance at $60,300 (approximately Rs. 50.2 million) and support at $58,800 (approximately Rs. 49 million). Edul Patel, CEO of Mudrex, told Gadgets360.

Ether, which has shown mixed price movements in recent days, was found on the downside of the crypto charts on Friday. At the time of writing, ETH price was at $2,907 (approximately Rs. 242,000) after recording a loss of 1.85 percent.

“Ethereum surged on the back of a strong Spot Ethereum ETF in Hong Kong and increased network activity. Ethereum’s next resistance levels are at $3,100 (approx. Rs. 258,000) and $3,300 (approx. Rs. 275,000). To be expected,” Patel added.

Tether, Solana, Cosmos, and Braintrust joined Bitcoin and Ether on the red side of the cryptocurrency chart.

Apart from these, most altcoins have made small but notable gains as of Friday. These include Ripple, Dogecoin, Cardano, Shiba Inu, and Avalanche.

Tron, Chainlink, Polygon, Near Protocol, Litecoin, Leo, Uniswap, and Cronos also recorded gains on May 3rd.

In the past 24 hours, the overall valuation of the cryptocurrency market rose by 3.46% to reach $2.23 trillion (approximately Rs. 1,858,595.7 billion), according to . coin market cap.

“Wednesday saw total outflows of $563 million (approximately Rs. 4,692 million) from Spot BTC ETFs, while BlackRock has seen outflows from various types of investors including sovereign wealth funds, pension funds, and endowments. We predict that there will be a new wave of inflows.” “The company expects pent-up demand for BTC exposure through ETFs,” Parth Chaturvedi, head of investments at CoinSwitch Ventures, told Gadgets360.

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