Cryptocurrency prices today 5/1/2025: Slight decrease across the board
Cryptocurrency prices today, May 1, 2025: Prices of cryptocurrencies all decreased slightly. The entire cryptocurrency market is still in the accumulation phase, when the total capitalization fluctuates around 3,000 billion USD, about 0.5% lower than the previous day.
Bitcoin (BTC) continues to trade sideways for five consecutive days, hovering around $95,000. Investors are waiting for a clear breakout, while analysts from K33 point to two factors that could trigger a breakout: MicroStrategy's Q1 financial report and the deadline for the Strategic Bitcoin Fund set by the Trump administration.
In addition, inflows from US spot ETFs remained positive, with $172.78 million inflows on Tuesday, extending a net buying trend that has been in place since mid-April.
Dogecoin (DOGE) fell to $0.1745, down nearly 2.7% in the past 24 hours. Trading volume also dropped sharply, reflecting investor caution. However, Dogecoin is still up more than 4% over the past 7 days.
Shiba Inu (SHIB) also recorded a similar trend, falling 3.55% on the day to $0.00001334. Despite the decline in trading volume, SHIB still gained nearly 3% over the past week, indicating a weak recovery momentum and lack of fresh buying interest.
Ethereum (ETH) dipped slightly to $1,795.90, down more than 1.4% in 24 hours. However, ETH maintained a slight gain for the week and surpassed a monthly high of $1,837 on Tuesday on the back of large short position closing activity.
Some investors are betting that ETH could move towards the $2,000 mark, especially if it continues to be supported by positive market sentiment and institutional inflows.
Ripple (XRP) fell to $2.23, down more than 2.4% from yesterday. It is now trading below its April high of $2.36. Weakening flows and trading volumes suggest investors are temporarily exiting the market. However, expectations of an XRP ETF approval could support sentiment in the short term.
The entire cryptocurrency market is still in an accumulation phase, with total capitalization hovering around $3 trillion, about 0.5% lower than the previous day.
The market has been trading in a narrow range for the past five days and has yet to break above its 200-day moving average. A positive macro boost could be key to pushing the market towards the $3.5 trillion mark.
