Jerome Powell

Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin managed to regain the important level of $64k earlier.</li> 
 <li>Now, BTC is trading close to the same mark, and the coin is up by about 6% in the past 24 hours on CoinMarketCap.</li> 
</ul> 
<p>Bitcoin began this week with a price drop to its lowest levels in more than two months as May kicked off. BTC’s price dipped to a little above $56,500, ahead of making a comeback, marking the debut of&nbsp;<a href="https://crypto.ro/en/news/sell-in-may-and-go-away-bitcoins-seasonality-kicks-off-as-rates-remain-unchanged/">Bitcoin’s seasonality</a>.</p> 
<p>Now, in the past hour, Bitcoin has managed to regain the important level of $64k, and the coin is now trading just a little below the mark. BTC is now up by about 6% in the past 24 hours on <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="nofollow noopener" target="_blank">CoinMarketCap</a>.</p> 
<div class="cryptoboxes " data-realtime="on">
 <div class="coinmc-chart coinmc-trigger">
  <div class="cmc-row middle-md between-md">
   <div class="cmc-md-7 cmc-sm-12 cmc-xs-12">
    <ul class="coinmc-filter coinmc-chart-period">
     <li>
      <div class="coinmc-filter-label">
       Zoom
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-period="hour">
       Hour
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-period="day">
       Day
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-period="week">
       Week
      </div></li>
     <li>
      <div class="coinmc-filter-button active" data-period="month">
       Month
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-period="year">
       Year
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-period="all">
       All Time
      </div></li>
    </ul>
   </div>
   <div class="cmc-md-5 cmc-sm-12 cmc-xs-12 end-md start-sm start-xs">
    <ul class="coinmc-filter coinmc-chart-type">
     <li>
      <div class="coinmc-filter-label">
       Type
      </div></li>
     <li>
      <div class="coinmc-filter-button active" data-type="chart">
       <i class="fas fa-chart-line"></i> Line Chart
      </div></li>
     <li>
      <div class="coinmc-filter-button" data-type="candlestick">
       <i class="fas fa-sliders-h"></i> Candlestick
      </div></li>
    </ul>
   </div>
  </div>
  <div class="cmc-row">
   <div class="cmc-md-12">
    <div class="chart-wrapper" data-config="{&quot;type&quot;:&quot;chart&quot;,&quot;coin&quot;:&quot;bitcoin&quot;,&quot;symbol&quot;:&quot;BTC&quot;,&quot;currency&quot;:&quot;USD&quot;,&quot;period&quot;:&quot;month&quot;,&quot;theme&quot;:&quot;light&quot;,&quot;smooth&quot;:true,&quot;areaColor&quot;:&quot;rgb(37,179,98, 0.8)&quot;,&quot;font&quot;:&quot;Saira&quot;,&quot;rate&quot;:1}"></div>
   </div>
  </div>
 </div>
</div> 
<p>The week kicked off with Federal Reserve Chair Jerome Powell stating on May 1 that <a href="https://crypto.ro/en/news/us-employment-figures-propel-bitcoin-price-to-62k-boosting-rate-cut-predictions/">the current target range</a> for the federal funds rate would be maintained for as long as necessary.</p> 
<p>He also mentioned that the Federal Reserve was prepared to respond to any unexpected weakening in the labor market. As investors’ attention was focused on the Fed’s move, Bitcoin’s price dropped but managed to make a strong comeback today.</p> 
<h2 id="trading-legend-peter-brandt-highlights-bitcoin-s-unparalleled-potential">Trading legend Peter Brandt highlights Bitcoin’s unparalleled potential</h2> 
<p>As Bitcoin is showing bullish moves, the trading legend Peter Brandt has been addressing the coin’s potential, along with useful trading advice on his X account.</p> 
<p>He just shared <a href="https://twitter.com/PeterLBrandt/status/1786733130948419881" rel="nofollow noopener" target="_blank">a post</a> addressing aspiring traders and what they need in order to trade with significant profits.</p> 
<p>The other day, he also shared his thoughts on Bitcoin’s huge potential via the same social platform.</p> 
<p>In his X post, he noted that Bitcoin is the trade of a lifetime, and there has never been and never again will be another asset like it. He shared his perspective from his 50-year career as a professional trader.</p> 
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"> 
 <p lang="en" dir="ltr">Bitcoin — the trade of a lifetime<br>There has never been and never again will be another asset like Bitcoin <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$BTC</a><br>Here is the perspective from my 50-year career as a professional trader<a href="https://t.co/fyHrGRRHLo" rel="nofollow" target="_blank">https://t.co/fyHrGRRHLo</a> <a href="https://t.co/dwrBwtknqP" rel="nofollow" target="_blank">pic.twitter.com/dwrBwtknqP</a></p> 
 <p>— Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1786474327199887437?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">May 3, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>Also, the other day, Bitcoin ETFs recorded a total net inflow of $378 million. This day marked the first net inflow day following seven days of net outflows. Also, this was the day when <a href="https://crypto.ro/en/news/grayscales-bitcoin-etf-gbtc-sees-first-inflow-day-of-63m-since-launch/">Grayscale Investments</a> recorded positive net inflows for its Bitcoin ETF, GBTC, of $63 million.</p>

Bitcoin Bounces Back Over The $64k Level, Up By 6% In 24 Hours

Table of Contents

crypto.ro global

Other articles published on May 4, 2024

Dogecoin’s 280K new addresses – Traders, is this a buy signal for you?

Grayscale’s GBTC Sees First Inflows After Months Of Outflows

Bitfinex CTO Addresses Recent Data Theft Concerns

How To Start Staking Polygon Today

Ripple CEO Brad Garlinghouse Shares Insights on Ethereum (ETH) and Ripple (XRP) Developments

BREAKING: A Data Breach Allegedly Occurred on Bitfinex – 2.5 TB of Data and 400 Thousand Users’ D...

Join our free newsletter for daily crypto updates!