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Bitcoin climbed above $71,000 after gaining nearly 3% in 24 hours. Ethereum, Solana, and Dogecoin were among the top performers, with gains ranging between 4% and 5%.
Oil prices dipped after the United States allowed a temporary waiver on Russian crude shipments.
A lawsuit accusing JPMorgan of ignoring a $328 million crypto Ponzi scheme has added fresh attention to fraud risks.
Crypto prices today show a grit that is usually expected from safe-haven assets like gold and silver. The market is rising in tandem with the escalation of the Middle East conflict, surprising even experienced traders. Bitcoin is back above the $70,000 mark. Atcoins are in the green zone, seeing gains in the range of 2% to 6%.
The global crypto market cap is up by 2.68% at $2.43 trillion. This is a big shift from what we saw just 24 hours ago, when the mood was decidedly grim, and Bitcoin was struggling at the $69,000 mark on the oil price surge. Today, however, buyers have stepped in aggressively. Buy-the-dip mentality has clearly won out.
Here is the latest crypto news and price movements based on CoinMarketCap data to help you understand the reasons behind the rally.
Bitcoin price soared 2.83% in the last 24 hours to $71,323. The $70,000 zone continues to act as a key psychological support level, and so far, buyers are defending it well. Bitcoin's market cap is over $1.42 trillion, with $45.6 billion in trading volume over the past day. It is a sign that liquidity is healthy even during global uncertainty.
CoinSwitch Markets Desk noted, “BTC moved close to $71,000 after US inflation and jobless claims came in line with expectations, but the data offered little new momentum for markets. Traders remain cautious, with futures funding rates around -7%, showing that many participants are still betting on downside. The futures premium also remains below the typical 5% bullish level, suggesting limited risk appetite. ”
The analysts further added, “Steady institutional demand is helping support prices, with BTC ETFs attracting roughly $540 million in inflows over the past four days. In the near term, $72,000 is key resistance, while $70,500 is immediate support, and $69,500-$70,000 remains a stronger demand zone.”
Taking a cautious stance, Avinash Shekhar, Co-founder and CEO, Pi42, stated, “The broader market does not yet signal a decisive bullish reversal. Uncertainty tied to global developments is still influencing risk appetite, which is why Bitcoin continues to move within a relatively tight range rather than breaking into a strong directional rally.”
All the major cryptocurrencies showed bullishness today, with the biggest gainers being, Solana, Hyperliquid, Dogecoin, and Ethereum. Cardano and Bitcoin Cash have both been outranked by Hyperliquid today as it takes the last spot in the world’s top ten cryptocurrencies by market cap. Cardano is now trading at $0.2711 at the eleventh place. At the same time, Bitcoin Cash surged 2.65% at the twelfth spot.
Here is a table showing how the world’s top ten coins performed today:
Riya Sehgal, Research Analyst, Delta Exchange, talked about the ETH price outlook, saying, “Ethereum is showing relative strength compared to the broader market. The asset has managed to hold the psychologically important $2,000 support level while institutional flows through spot ETF products continue to build. From a technical standpoint, the immediate resistance sits near $2,150-$2,200. A sustained breakout above this zone could trigger momentum toward the $2,600-$2,700 range, while failure to maintain support near $1,800 could invite renewed downside pressure.”
Here are the top headlines and global cues impacting crypto prices today.
Oil prices eased slightly after the US Treasury gave a 30-day waiver allowing all countries to buy Russian crude oil already at sea. Brent crude slipped to around $99.99 a barrel, and WTI fell to $95.09, offering brief relief after oil nearly hit $120 earlier this week. The relief is partial, though, as Iran's new Supreme Leader confirmed the Strait of Hormuz blockade stays in place, keeping supply fears alive.
The US also released 172 million barrels from its strategic reserves to help stabilise markets. Lower crude reduces inflation fears, which in turn keeps alive the hope of Fed rate cuts. Rate cut expectations are generally good for risk assets like Bitcoin and altcoins, and may be the reason why crypto prices today are holding up better than many expected.
TON blockchain has called off its Gateway Dubai event, originally planned for May 1-2 as reported by The Block. The platform cited safety concerns following Iranian missile and drone attacks on the UAE. Dubai is a major hub for crypto events and entrepreneurs. While one cancelled event is unlikely to move prices, it highlights how the regional conflict is starting to disrupt the crypto industry's activity.
According to a Mitrade report, the US Treasury's Office of Foreign Assets Control (OFAC) froze crypto wallets that sent money to North Korea for nuclear weapons and ballistic weapons. OFAC sanctioned six people and two entities who raised close to $800 million last year through fake tech worker accounts. Twenty-one wallet addresses were frozen in the Ethereum and Tron networks. The action highlights ongoing regulatory pressure around crypto's use in illicit finance.
A lawsuit filed in San Francisco accuses JPMorgan Chase of turning a blind eye to a $328 million fake crypto liquidity pool scheme. It was run by a Florida company called Goliath Ventures. The operator was recently arrested on wire fraud charges. The case puts pressure on banks to better monitor crypto-related customers, and adds to the broader regulatory spotlight on DeFi and crypto fraud.
Also Read: Ethereum Market Signal: Negative Funding Rate Raises Bearish Concerns
Crypto prices today reflect a market that is resilient but not fearless. According to Nischal Shetty, Founder of WazirX, “While technical indicators of Bitcoin remain below most moving averages, the medium term outlook remains neutral. Economists are also discussing stagflation risks, where higher costs combined with slower economic growth are making interest rate decisions more complex for central banks, resulting in retail uncertainty.
Bitcoin price holding above $70,000 while geopolitical risks increase is a genuine show of strength. The US Fed's next move, driven by Friday's PCE data, will be the biggest short-term trigger to watch. As long as macro conditions do not sharply worsen, bulls will continue to be in charge. Although investors should remember that volatility remains just one headline away, so tread cautiously.
Also Read: Crypto News Today: Elon Musk Confirms Bitcoin, Ether, and Dogecoin as His Crypto Holdings
Crypto prices are rising today because several macro factors turned slightly positive. Oil prices dipped after the US allowed a temporary waiver for Russian crude shipments already at sea. Lower oil prices can reduce inflation fears and increase the chances of future interest rate cuts. Investors also stepped in to buy the dip after Bitcoin briefly struggled near $69,000 earlier, which pushed the market higher.
Bitcoin price today is around $71,323 after gaining about 2.8% in the past 24 hours. The $70,000 level is acting as a strong psychological support zone for traders. Bitcoin’s market cap is now above $1.42 trillion, and daily trading volume is over $45 billion. Analysts say the next important resistance level is around $72,000, while support remains near $70,000.
The biggest crypto news today includes Bitcoin rising above $71,000 while major altcoins such as Ethereum and Solana are posting strong gains. Oil prices also dipped after a US waiver on Russian crude shipments, which improved market sentiment. At the same time, regulators froze crypto wallets linked to North Korea, and a lawsuit involving JPMorgan has added attention to fraud risks.
A lawsuit filed in San Francisco claims that JPMorgan failed to detect or stop a $328 million crypto Ponzi scheme connected to a company called Goliath Ventures. The operator allegedly ran a fake crypto liquidity pool that attracted investors with false promises of high returns. Authorities have arrested the operator on fraud charges, and the case is now drawing attention to bank oversight of crypto activities.
Yes, a major crypto event planned in Dubai has been cancelled. The TON blockchain project decided to call off its Gateway Dubai conference that was scheduled for May 1-2. The decision was made because of safety concerns following missile and drone attacks in the region. Dubai is an important hub for crypto businesses, so the cancellation highlights how geopolitical tensions can affect the industry.
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