Guys, the cryptocurrency market today (5/2/2026) is blazing red! BTC is plummeting uncontrollably, and others are being dragged down severely. Quick summary for you to catch up:
BTC: Current price around 70k – 71k USD (down another 6-8% today, from the old peak of 126k down to less than 60% of the old price).
Main reason: Macro pressure: Fed remains hawkish, bond yields skyrocketing, geopolitical tensions.
Liquidating long: Billions of dollars in long positions have been wiped out, open interest reset low.
Sentiment: Fear & Greed Index is only ~11-15 (Extreme Fear – extreme fear).
Positive signs: RSI daily oversold (below 30) → may bounce slightly or consolidation short around 70k-75k. But if it breaks support at 68k-70k, the risk of dumping to 60k is real.
What about altcoins?:
XRP : Price ~1.43-1.50 USD (down 8-11% today). Still weak, the lowest since Trump's election. Dependent on regulatory news + ETF, currently sideway or testing 1 USD.
ETH : ~2,100-2,130 USD (down 6-7%). Undervalued compared to ATH, but macro pressures are heavy. If Fed pivots, ETH may rebound easier than other alts.
Market overview:
Total market cap below 2.5T USD.
Altseason Index low (~40-43) → not yet time to pump broadly, only selective (only coins with good catalysts will survive).
BTC dominance ~59% → altcoins still dragged down by BTC.
Strategy for you all:
Hold long-term: DCA gradually in this range if you believe 2026 will be bullish.
Trade short: Be careful with leverage, tight stop-losses to avoid account burn.
DYOR & NFA, guys! Trade safely, don't FOMO/FUD.
What do you all think?
$BTC will there be a bounce back to 75k or continue to dump?
Comment below to share! 📈 #BTC #XRP #ETH #BinanceSquareWithYou
