Bitcoin price today was standing at $33,644.72 at the time of writing this article, its lowest in a month. This was a sharp plunge of 2.34 per cent over the last 24 hours, according to data from CoinMarket Cap.
“Bitcoin dropped further to sub $34,000 levels as the Dollar index continued to strengthen. Meanwhile, whale transactions for Bitcoin and Ethereum have hit a new high in almost four years despite the fall in prices and a general worrying sentiment among investors. The weekly trend for BTC has broken out of the long formed channel pattern. The next resistance is expected at $48,600 and an immediate support for BTC is expected at $33,100 levels. We could see Bitcoin and the other Altcoins bleed further as the Dollar index keeps gaining,” said the WaziX trade desk in a note to News18.com.
“When the Fed Reserve announced that interest rates would rise by half a percentage point, BTC saw a brief relief rally where the crypto touched $40,000. This sentiment did not last for long as market participants began panicking over inflation and a potential recession, resulting in equities and crypto markets plunging,” added Bathija.
Ether fell below the $2,500 mark through the day, plunging 3.27 per cent in the last 24 hours. Ether price today was standing at $2,461.00, as per data.
“A sharp fall in market sentiment resulted in Bitcoin registering levels around $34,000, while ETH dropped to $2,527. The fear and greed Index for crypto, which gauges market sentiment stood at “extreme fear” at the moment,” said Bathija.
Here are the top 10 cryptocurrencies and their prices on May 9, 2022 ( According to data from coinmarketcap.com)
Bitcoin $33,644.72 or 2.34 per cent loss in the last 24 hours
Ethereum $2,461.00 or 3.27 per cent loss in the last 24 hours
Tether $0.9999 or 0.01 per cent loss in the last 24 hours
BNB $349.45 or 2.64 per cent loss in the last 24 hours
USD Coin $0.9999 or 0.01 per cent loss in the last 24 hours
XRP $0.5671 or 0.91 per cent loss in the last 24 hours
Solana $75.36 or 2.71 per cent loss in the last 24 hours
Cardano $0.7101 or 3.99 per cent loss in the last 24 hours
Terra $62.88 or 3.51 per cent loss in the last 24 hours
TerraUSD $0.9976 or 0.04 per cent gain in the last 24 hours