Crypto Price Analysis 5-7: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, DOGWIFHAT: WIF, INTERNET COMPUTER: ICP, CARDANO: ADA, POLKADOT: DOT

The cryptocurrency market rebounded after a sluggish start to the week, with its market cap registering an increase of 1.55% over the past 24 hours as Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies registered notable increases. BTC registered a rise of 2.29% in the past 24 hours to reclaim $96,000 and move to its current level of $96,620. 

Meanwhile, ETH reclaimed $1,800 after rising almost 2% and is currently trading at $1,830. Meanwhile, Ripple (XRP) is up over 1% and trading at $2.13, and Solana (SOL) is up nearly 1% and trading at $145. 

Cardano (ADA), Chainlink (LINK), Stellar (XLM), Hedera (HBAR), Litecoin (LTC), and Polkadot (DOT) also registered notable gains. However, Toncoin (TON) defied market trends, registering a marginal decline. 

Federal Reserve’s Federal Open Market Committee To Convene Shortly 

The Federal Reserve’s Federal Open Market Committee is set to convene with the crypto market at a crossroads as investors await signals that could influence digital asset valuations. Analysts believe the Federal Reserve will maintain its benchmark interest rates between the 4.25%-4.50% range amid rising concerns about inflation and economic stability. BTC displayed resilience ahead of the meeting, holding above the crucial $95,000 mark, with ETH and other altcoins also registering notable increases. 

Analysts and investors will wait for Fed Chair Jerome Powell’s statements to indicate the Federal Reserve’s policy. A dovish tone suggesting potential rate cuts or a slowdown in quantitative tightening could inject optimism into the markets and drive BTC toward $100,000. Meanwhile, a hawkish stance could indicate inflation concerns and lead to a tighter monetary policy, leading to a price drop, with BTC falling towards $90,000. 

Crypto Spending Will Continue To Grow 

Petr Kozyakov, CEO of crypto payments platform Mercuryo, believes the future of finance could be a blend of digital assets and fiat currency, with each being used where it makes the most sense. According to Kozyakov, while crypto payments are witnessing a substantial increase, they won’t replace fiat payments. The Mercuryo CEO believes both asset classes will co-exist, with people choosing the more convenient payment options. 

“We don’t think crypto will replace fiat. They will coexist, and people will turn to crypto when it’s the easier, more practical option, whether that’s for payroll, yield, or money transfers.”

Kozyakov also discussed the growth of crypto as a salary payment option as more companies settle employee salaries with crypto. 

“That is a growing trend. I see a lot of businesses that are starting to settle with their full-time employees and with their gig employees all over the world, in crypto.”

However, he believes this could result in several challenges as employees paid in crypto may ask what they can do with their funds. 

“You won’t invest everything and just wait. You need to use it for everyday purchases.”

Bhutan Partners With Binance Pay To Launch World’s First Crypto Tourism Payment System 

Bhutan has announced a partnership with Binance Pay to implement a national-level crypto payment system for its tourism industry. The country’s innovative mechanism allows travelers to use Binance Pay and experience truly cashless journeys. The initiative is a collaboration between Binance Pay and the fully digital DK Bank, allowing travelers using Binance Pay to experience a seamless, secure, flexible, and end-to-end payment experience. Over 100 merchants are live with DK Bank and Binance Pay, allowing users to book flights, make everyday purchases, and more, to enjoy the convenience and efficiency of digital payments while traveling to Bhutan. Richard Teng, CEO of Binance, stated, 

“We are excited to partner with Bhutan as we are not only advancing the use of cryptocurrencies in travel but also setting a precedent for how technology can bridge cultures and economies. This initiative exemplifies our commitment to innovation and our belief in a future where digital finance empowers global connectivity and enriches travel experiences.”

Damcho Rinzin, Director of the Department of Tourism, Bhutan, stated, 

“This is more than a payment solution — it's a commitment to innovation, inclusion, and convenience. It enables a seamless experience for travelers and empowers even small vendors in remote villages to participate in the tourism economy.”

The partnership marks the first time a tourism product has accepted crypto at a national level. It also addresses common barriers to digital payments, including high transaction fees and limited merchant acceptance. 

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) rallied on Tuesday and extended its gains during the ongoing session as the US-China trade deal talks progress. Treasury Secretary Scott Bessent is traveling to Switzerland to meet with Chinese representatives. Despite registering substantial gains on Tuesday, BTC faces considerable selling pressure at $97,000, a level it is struggling to overcome. The flagship cryptocurrency surged to an intraday high of $97,751 during the ongoing session before retreating. Despite the decline, BTC is up over 3% in the past 24 hours, as bulls eye the $100,000 mark. 

The rebound indicates a resurgence in investor interest as the US and China confirmed that top-level officials will meet for trade talks in Switzerland. The announcement led to growing optimism about a de-escalation between the world’s largest economies. However, markets remained jittery after President Trump said on Tuesday that he does not plan to sign any trade deals soon. The US and China have shown little interest in de-escalation after slapping tariffs of over 100% on each other. Price action has also picked up ahead of the upcoming FOMC meeting. Alankar Saxena, co-founder and CTO of Mudrex, stated, 

“While a rate cut remains unlikely, any move toward quantitative easing could inject fresh liquidity into the market, further supporting risk assets like crypto. If BTC breaks the resistance at $97,900, a decisive move above the $100,000 mark is possible, with support standing at $93,700.”

BTC traded in the red over the previous weekend, registering a marginal decline on Saturday and dropping almost 1% on Sunday to settle at $93,803. The price recovered on Monday, rising 1.28% to reclaim $95,000 and settle at $95,010. Despite the positive start, BTC lost momentum on Tuesday, dropping nearly 1%, slipping below $95,000 and settling at $94,342. The price faced volatility on Wednesday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as BTC registered a marginal decline and settled at $94,155.

Source: TradingView

Bullish sentiment returned on Thursday as markets rallied. As a result, BTC rose over 2% to surge past $96,000 and settle at $96,458. The price surged to an intraday high of $98,000 on Friday as bullish sentiment intensified and settled at $96,939, ultimately registering an increase of 0.50%. However, BTC lost momentum over the weekend, dropping nearly 1% on Saturday and 1,66% on Sunday to slip below $95,000 and settle at $94,390. The price fell to an intraday low of $94,582 on Monday. However, it rebounded from this level to register an increase of 0.41% and settle at $94,773. Bullish sentiment intensified on Tuesday as BTC rose over 2% to reclaim $96,000 and settle at $96,845. The current session sees BTC marginally up as it attempts to overcome selling pressure at $97,000. A break above this level could see BTC surge to $100,000. 

Ethereum (ETH) Price Analysis 

Ethereum (ETH) has registered a notable increase of over 1% during the ongoing session. The world’s second-largest cryptocurrency also registered an increase in daily trading volume. However, it remains confined within a narrow trading range as it struggles to overcome the overhead resistance at $1,860. 

“Ethereum is also holding above $1,800, reflecting renewed strength in altcoins.”

ETH crossed the 50-day SMA on Saturday (April 26), rising to $1,821. However, it lost momentum on Sunday, dropping nearly 2%, slipping below the 50-day SMA and $1,800 and settling at $1,792. The price registered a marginal increase on Monday, rising 0.43% to $1,799. ETH could not push higher and fell back in the red on Tuesday, registering a marginal decline. Sellers retained control on Wednesday as the price dropped to an intraday low of $1,736 before settling at $1,794. Bullish sentiment returned on Thursday as ETH registered an increase of 2.42% to reclaim $1,800 and settle at $1,838.

Source: TradingView

Buyers retained control on Friday as the price registered a marginal increase and moved to $1,842. Bearish sentiment returned over the weekend as the price fell 0.39% on Saturday and 1.34% on Sunday to settle at $1,810. The current week began positively as ETH registered an increase of 0.57% and settled at $1,821. ETH plunged to an intraday low of $1,753 on Tuesday as selling pressure intensified. However, the price rebounded from this level to settle at $1,817, ultimately registering a marginal decline. The current session sees ETH up 1.52% as it attempts to cross $1,860. A break above this level could see ETH surge to $2,000.

Solana (SOL) Price Analysis

Solana (SOL) has registered a notable uptick this week despite facing volatility. SOL stabilized around $145 and increased on Monday as institutional interest returned. Bulls will attempt to regain build momentum and retest the $155 resistance after being rejected from the level on May 1. The Solana ecosystem also reported a steady increase in stablecoin supply, highlighting the growing strength of the Solana ecosystem.

SOL registered a substantial drop last Friday (April 25), falling to $150. Price action remained bearish over the weekend as SOL fell 1.08% on Saturday and 0.84% on Sunday and settled at $148. SOL encountered volatility on Monday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as SOL registered a marginal decline and settled at $147. Sellers retained control on Tuesday as the price fell 0.97% to $146. SOL plunged to an intraday low of $140 on Wednesday as bearish sentiment intensified. However, it rebounded from this level to register an increase of nearly 1% and settle at $147. SOL continued to push higher on Thursday, rising 2.20% and settling at $150.

Source: TradingView

However, selling pressure returned on Friday as the price fell nearly 2%, slipping below $150 and settling at $148. SOL declined over the weekend, dropping 0.83% on Saturday and almost 2% on Sunday to settle at $144. The current week started positively as SOL registered an increase of nearly 2% and moved to $146. The price experienced significant selling pressure on Tuesday, plunging to an intraday low of $141. However, it recovered from this level to register a marginal increase and remained at $146. The current session sees SOL up nearly 1% as it attempts to reclaim $150. Buyers will look to build momentum and push SOL above the resistance at $155.

Dogwifhat (WIF) Price Analysis

Dogwifhat (WIF) surged to an intraday high of $0.719 on Saturday (April 26) before losing momentum and settling at $0.652, ultimately registering an increase of over 2%. Despite the positive sentiment, WIF was back in the red on Sunday, dropping nearly 6% to $0.614. The price encountered substantial volatility on Monday, surging to an intraday high of $0.669. However, it could not stay at this level and dropped to $0.618, ultimately registering a marginal increase. Sellers returned to the market on Tuesday as the price fell 2.58% to $0.602. WIF plunged to an intraday low of %0.561 on Wednesday as selling pressure intensified. However, it rebounded from this level to register an increase of over 5% and settle at $0.633.

Source: TradingView

WIF was back in the red Thursday, falling nearly 3% to $0.615. Buyers returned to the market on Friday as WIF rose 4.68% and settled at $0.644. However, price action turned bearish over the weekend as the price plunged nearly 12% on Saturday, slipping below $0,60 and settling at $0.567. WIF continued to drop on Sunday, falling over 3% to $0.549. WIF registered a marginal decline on Monday before rising 2.51% on Tuesday and settling at $0.561. The current session sees WIF marginally up and trading at $0.565.

Internet Computer (ICP) Price Analysis

Internet Computer (ICP) ended the previous weekend on a bearish note, dropping over 4% on Sunday (April 27) and settling at $5.05. The price recovered on Monday, rising almost 1% to $5.09, but fell back on Tuesday, falling nearly 4%, slipping below the 20-day SMA, and settling at $4.89. Despite the bearish sentiment, ICP recovered on Wednesday, rising almost 1% to $4.92. Buyers retained control on Thursday as the price rose 0.41% to $4.94. A marginal increase of 0.81% on Friday took ICP past the 20-day SMA to $4.98.

Source: TradingView

However, ICP lost momentum over the weekend after failing to reclaim $5. As a result, the price fell over 5% on Saturday and settled at $4.73. Selling pressure persisted on Sunday as ICP fell 2.96% to $4.59. The current week started with a marginal increase before ICP plunged to an intraday low of $4.44 on Tuesday. However, it rebounded from this level to register a marginal increase and settle at $4.63. The current session sees ICP up 0.50% and trading at $4.65. 

Cardano (ADA) Price Analysis

Cardano (ADA) has seen significant volatility in recent sessions as it struggles to push above $0.75. The price faced volatility on Monday (April 28) as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand and prevented a substantial price drop. However, the price was back in bearish territory on Tuesday, dropping 1.28% to $0.696. Bearish sentiment intensified on Wednesday as the price fell over 2% to $0.681. ADA recovered on Thursday, rising 3.38% to reclaim $0.70 and settle at $0.704. The price surged to an intraday high of $0.726 on Friday but lost momentum after reaching this level. As a result, ADA fell almost 1% to $0.698.

Source: TradingView

ADA raced to an intraday high of $0.730 on Saturday as buyers attempted a push towards $0.75. However, it could not stay at this level and dropped to $0.70, ultimately registering a marginal decline. Bearish sentiment intensified on Sunday as the price fell over 3% to $0.677. ADA continued to drop on Monday, falling over 2%, slipping below the 20 and 50-day SMAs and settling at $0.663.The price plunged to an intraday low of $0.643 on Tuesday as selling pressure intensified. However, it rebounded from this level to register an increase of over 2% and settled at $0.678. The current session sees ADA up almost 1% and trading at $0.683.

Polkadot (DOT) Price Analysis

Polkadot (DOT) started the previous week on a bullish note, rising nearly 4% to $4.25. However, it lost momentum on Tuesday and fell 2.35% to $4.15. Selling pressure persisted on Wednesday as the price fell over 2% and settled at $4.06. Despite the bearish sentiment, DOT rebounded on Thursday, rising nearly 3% and settling at $4.17. The price raced to an intraday high of $4.29 on Friday as buyers attempted a move higher. However, DOT lost momentum after reaching this level and dropped 0.48% to $4.15.

Source: TradingView

Bearish sentiment persisted over the weekend as DOT fell nearly 3% on Saturday and 2.48% on Sunday, slipping below the 20 and 50-day SMAs and $4 to settle at $3.93. Buyers made an unsuccessful attempt to reclaim $4 on Monday but lost momentum, ultimately registering a marginal decline and settling at $3.92. The price recovered on Tuesday, registering an increase of 1.28% and settling at $3.97. The current session sees the price marginally up as buyers attempt to reclaim $4.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.