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Cryptocurrency Price on May 2: Bitcoin slides below $58,000 after Fed decides to keep rates steady

Bitcoin declined on Thursday after the US Federal Reserve decided to maintain interest rates unchanged and its indication that rate cuts might be delayed. Additionally, Bitcoin’s downward movement was influenced by a mixed launch of investment products tracking the world’s top cryptocurrency and rival ether in Hong Kong.

At 12.02 pm IST, Bitcoin was down 3.3% at $57,629, while Ethereum dropped by 1.5% to $2,920.

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Fed Chair Jerome Powell late on Wednesday said a rate hike was unlikely, but reiterated that a rate cut would be considered only if inflation in the economy eased further.Edul Patel, CEO of Mudrex, said, “Bitcoin trades at $57,000 mark in the past 24 hours following the US Federal Reserve’s decision to maintain its benchmark interest rate between 5.25% and 5.50%. Since late February, Bitcoin has experienced a downward trend, largely influenced by macroeconomic conditions and geopolitical uncertainties. The next support level lies at the $56,600 level and the resistance is at $58,800 level.Meanwhile, Vikram Subburaj, CEO of Giottus Crypto Platform, said, “Bitcoin registered a significant decline, dropping 4% today in response to macro and ecosystem developments. The move comes as Binance founder CZ received a 4-month prison sentence in the US, while the launch of spot ETFs in Hong Kong failed to excite investors.”The global cryptocurrency market cap declined by 2.4% to around $2.16 trillion in the last 24 hours.Other major crypto tokens such as BNB (-3.2%), Dogecoin (-3%), Toncoin (-4%), Shiba Inu (-0.2%), NEAR Protocol (-2.2%), and Uniswap (-0.5%) also fell. On the other hand, Solana, XRP, Cardano, and Polkadot surged up to 5%.

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The volume of all stablecoins is now $98.61 billion, which is 92.67% of the total crypto market 24-hour volume, as per data available on CoinMarketCap.

In the last 24 hours, the market cap of Bitcoin, the world’s largest cryptocurrency, fell to $1.132 trillion. Bitcoin’s dominance is currently 52.53%, according to CoinMarketCap. BTC volume in the last 24 hours rose 29.5% to $49.6 billion.

“Technically, BTC is now more than 20% down from its all-time high. It’s currently testing support at $57,000, and a drop below that could lead to a further decline to the $52,000-$53,000 range, with no significant support in between. Similarly, ETH needs to hold above $2,900; otherwise, it may drop to the $2,700 level,” said CoinDCX Research Team.

Despite the downturn, the ETH/BTC pair remains strong, indicating relative strength in some altcoins, with a few even showing gains amidst BTC’s decline, although most are in the red, CoinDCX said.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Cryptocurrency Exchanges Brace for Japan’s New Regulations

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Cryptocurrency Exchanges Brace for Japan’s New Regulations

Circle Internet Group Inc. stocks have been trading up by 11.22 percent driven by anticipated strategic partnership announcements.

Key Takeaways

  • Japan’s financial watchdog aims to enforce new regulations requiring cryptocurrency exchanges, including Circle Internet, to set aside reserves against liabilities.
  • Circle Internet (CRCL) will disclose its earnings report soon; the anticipated earnings consensus is 18 cents per share.
  • These developments come amid turbulent times in the crypto and tech spheres, with CRCL amongst companies preparing for potential impacts.

Live Update At 12:14:02 EST: On Friday, November 28, 2025 Circle Internet Group Inc. stock [NYSE: CRCL] is trending up by 11.22%! Discover the key drivers behind this movement as well as our expert analysis in the detailed breakdown below.

Quick Financial Overview

Circle Internet, represented by the ticker CRCL, is gearing up for its upcoming earnings announcement. Historically, the company’s financial landscape is marked with ups and downs; notable profit margins are missing, casting uncertainties. Nonetheless, a fresh earnings report might bring rays of hope.

In the recent market, highlights showcase a price range progression with notable volatility—opening at $75.31 and climbing to an admirable $81.48 before settling around $80.8. This showcases the company’s resilience amidst challenges but also hints at possible fluctuations ahead.

Analyzing the financial statements shows that CRCL has key concerns in its profitability ratios. For instance, the company has negative figures in its pre-tax profit and operating margins, revealing the fiscal adversities it grapples with. The gross margin, however, remains robust at 79.4%, signaling efficient production. Despite this upside, its quick liquidity ratios, like the current ratio being 1, indicate limited room to maneuver in crises, necessitating strategic agility in the face of unpredictable economic climates.

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Regulatory Changes and Market Dynamics

Japan’s decision to compel cryptocurrency exchanges to hold reserves as a safeguard has undeniably put a spotlight on Circle Internet. This proactive move highlights regulatory bodies recognizing potential risks within the burgeoning world of cryptocurrencies. It is a move that aims to preempt vulnerabilities in the sector, ensuring investor protection and curbing unforeseen financial fallouts, especially in hack-prone digital worlds.

For Circle Internet and other affected companies, this is a time for strategic readjustments and protective measures. The market, already sensitive to any regulatory changes, might oscillate between optimism and caution as this unfolds. CRCL stocks need a careful watch as investor sentiment may shift dramatically based on compliance costs and operational changes that might arise post this regulation.

Discussing the speculative impact of this move requires understanding the swimming tides in financial reservoirs in CRCL’s favor or against it. As news spreads, investor trust in CRCL’s crisis management and innovation capabilities will prove critical.

The Road Ahead

Navigating these new waters, CRCL stands at a critical juncture where trader confidence lies heavily tethered to regulatory compliances and earnings outcomes. As the threads connecting cryptocurrency operations to broader financial safety tighten, adopting proactive strategies and mitigating transactional risks while aligning with regulatory standards becomes indispensable. As Tim Bohen, lead trainer with StocksToTrade says, “I never chase price. The best opportunities allow me to enter on my terms, not when I’m feeling pressured.” This sentiment resonates with the current climate where strategic patience is invaluable.

Circle Internet’s forthcoming earnings announcement is poised either as a reassurance or an escalation point dependent on performance metrics vis-à-vis expectations. News on recent financial commitments will unveil glimpses into upcoming strategic expansions or contractions, bearing a profound influence on market dynamics.

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In conclusion, CRCL’s journey ahead is layered with complexities. The aggregation of regulatory actions and corporate disclosures during this defining window will unfurl a robust picture, constraints, and opportunities alike. How Circle Internet maneuvers these nuances will certainly delineate its trajectory and its stakeholder’s fortunes related to it.

This is stock news, not investment advice. StocksToTrade News delivers real-time stock market updates tailored to highlight the key catalysts driving short-term price movements. Our coverage is designed for active traders and investors who thrive in fast-moving markets, with a focus on volatile sectors like penny stocks, AI stocks, Robinhood stocks and other momentum plays. From earnings reports and FDA approvals to mergers, new contracts, and unusual trading volume, we break down the events that can spark significant price action.

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Blackrock’s Bitcoin ETF Nears Breakthrough as SEC Weighs Expansive 1M Options Limit

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Blackrock’s Bitcoin ETF Nears Breakthrough as SEC Weighs Expansive 1M Options Limit
Blackrock’s bitcoin ETF enters a pivotal moment as Nasdaq seeks SEC approval for a 1M-contract IBIT options cap, signaling stronger liquidity, deeper institutional activity, and enhanced transparency across the regulated crypto-linked derivatives market.
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Be cautious of cryptocurrency ATMs – Enterprise Media

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Cryptocurrency ATMs (sometimes known as crypto ATMs or Bitcoin ATMs) are playing a bigger role in scams than ever before. Data from the Federal Trade Commission shows consumers reported over $100 million in losses per year, and there are no signs that it is slowing down. Scammers are capitalizing on the accessibility of these machines, and they are employing tried-and-true […]

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