Trending tokens on BTSE:
- Bitcoin (BTC) +0.23%/24h
- Ethereum (ETH) -0.97%/24h
- Luna Classic (LUNC) +11.38%/24h
- Aptos (APT) -0.64%/24h
(As of 3:30am UTC, on the 5th of May, 2023)
Cryptocurrency price movements in the last 24 hours have been a mixed picture. Bitcoin has remained relatively stable, hovering between US$27,000 – US$28,000, while other cryptocurrencies, such as Ethereum, Cardano, and Dogecoin, have experienced moderate fluctuations. The cryptocurrency market appears to be in a holding pattern, with investors waiting for further news and developments that could impact prices.
On the market front, Bitcoin has been moving sideways at US$27,500 as investors await CPI inflation reading. While this could be seen as a positive development following issues plaguing Binance and Bitcoin withdrawals last weekend, this cautiousness reflects the overall market’s attitude towards the potential impact of inflation on cryptocurrency investments, as inflation has historically influenced cryptocurrency prices.
Meanwhile, Joe Biden announced via Twitter his intentions for the US government to ‘close crypto tax loopholes’. Crypto has been in the spotlight for regulatory bodies and governmental agencies in the US in recent times, and this is the latest in a series of crypto-related regulatory announcements.
Trade Bitcoin on BTSE here.
Join our Telegram news channel here.
Our aim is to create a platform that offers users the most enjoyable trading experience. If you have any feedback, please reach out to us at feedback@btse.com or on Twitter @BTSE_Official.
Note: BTSE Blog contents are intended solely to provide varying insights and perspectives. Unless otherwise noted, they do not represent the views of BTSE and should in no way be treated as investment advice. Markets are volatile, and trading brings rewards and risks. Trade with caution.
