Today’s Cryptocurrency Prices: Bitcoin Surges While Major Coins Experience Positive Growth
Bitcoin saw a 24-hour gain of nearly 4% and remained stable within the $28,000 range, while altcoins such as Ethereum, Dogecoin, Ripple, Solana, and Litecoin also saw green across the board. The Injective token was the largest gainer, up over 15% in 24 hours. The global crypto market cap was at $1.18tn, a 2.43% 24-hour gain. Mudrex co-founder and CEO Edul Patel attributed Bitcoin’s surge to Alphabet and Microsoft’s “moderately optimistic” Q1 earnings reports, as well as concerns around banking stability following US bank First Republic’s Q1 earnings showing a $100bn deposit loss. Sathvik Vishwanath, CEO and co-founder of Unocoin, said Bitcoin’s rally was driven by technical buying and a short-term buy signal, although macro risk events could impact sentiment, while Shivam Thakral, CEO of BuyUCoin, suggested the rise could be due to continued support for decentralised finance following the recent banking crisis. However, caution was advised, as Crypto products and NFTs are unregulated and highly risky, and cryptocurrency is not legal tender, subject to market risks.
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