Bitcoin maintains $77,000, Ethereum and XRP bounce back as Dogecoin sees rally during FOMC day
May 1, 2026
Bitcoin is maintaining its position above $77,000 as of Wednesday morning, benefiting from positive sentiment generated by statements made by the SEC chair during the Bitcoin 2026 event. Despite this, Bitcoin ETFs experienced net outflows of $89.7 million on Tuesday, while Ethereum ETFs also reported net outflows amounting to $21.8 million.
Current cryptocurrency prices for some of the major players in the market include Bitcoin at $77,620.71, Ethereum at $2,334.55, Solana at $85.32, XRP at $1.39, Dogecoin at $0.1100, and Shiba Inu at $0.056473. Nevertheless, the meme coin market capitalization has decreased by 2.8% to $37.8 billion in the past 24 hours.
Experts in the trading community have shared their insights on the current market trends. Trader Michael van de Poppe highlighted Bitcoin’s resilience leading into significant macroeconomic events like the FOMC decision and GDP data release, which often result in pre-event market fluctuations. He pointed out the development of higher highs and higher lows on shorter timeframes, indicating a bullish trajectory with a potential target range of $85,000 to $88,000 for May. Conversely, CryptosBatman suggested that Ethereum may be experiencing a shift to a bearish trend as its pennant pattern seems to have broken down. The asset is now testing key support levels, and a failure to rebound could result in further declines.
Analyzing Solana’s performance, crypto chart analyst Ali Martinez noted a breakout from a triangle pattern that could drive the asset towards the $77 level if momentum is sustained. On the other hand, industry expert Sjuul observed that Dogecoin might have concluded its recent downtrend and is currently consolidating. Such consolidation phases often precede significant movements, potentially leading to a breakout.
While the future remains uncertain in the volatile world of cryptocurrency trading, key events and patterns provide traders with valuable insights to navigate the market effectively. As the landscape continues to evolve, keeping a close eye on expert analyses and market trends is crucial in making informed investment decisions.
