Bitcoin (BTC) kicked off the week with robust momentum, maintaining a position well above the $64,000 mark and reaching a high of $64,496. The total market capitalization for cryptocurrencies has surged to $2.36 trillion, reflecting a 1.19% increase within 24 hours. This rise is partly due to investor responses to softer US NFP data, which has heightened expectations for a Federal Reserve rate cut in September, enhancing Bitcoin’s appeal.

In today’s crypto market update, Bitcoin (BTC/USD) demonstrates resilience with its current trading price of $64,265. Over the past 24 hours, Bitcoin has seen an increase of 1.20%, accompanied by a trading volume of $18.59 billion.

Bitcoin’s price shows a robust ascent, now trading at approximately $63,200, with recent highs of $64,446. This activity is part of a wider trend that has seen the global crypto market cap increase to $2.36 trillion, up over 7% over the last day.

On Saturday morning, Bitcoin continued to command attention, with a recent price uptick to $63,375. This week, the foremost digital currency has shown resilience, registering a modest 0.22% rise. Currently positioned above a critical pivot point of $61,650, Bitcoin’s trajectory seems poised for further exploration towards $70,000.

An unknown trader lost $68 million worth of Wrapped Bitcoin (WBTC) in a single transaction in an address-poisoning scam on May 3, according to security firm Cyvers.

Arthur Hayes, co-founder and former CEO of BitMEX crypto exchange, shared his optimistic outlook on the future of Bitcoin’s price on May 3. He predicted a stabilization around $60,000, followed by fluctuations within the $60,000 to $70,000 range until August 2024.

With the U.S. government targeting crypto mixers, Edward Snowden, the famed whistleblower and vocal supporter of cryptocurrencies, took to X on Thursday to urge Bitcoin developers to prioritize privacy. He stresses that time is running out to implement privacy solutions at the protocol level.

While many market segments panic-sold their Bitcoin (BTC) this week, the digital currency’s largest whales seem to have bought the dip with size.

Bitcoin investors are facing a tough challenge as they try to recover from a two-month price low for BTC.

The Bitcoin (BTC) price has powered back into the mid-$61,000s in wake of a softer-than-expected US labor market report which has boosted hopes that the Fed cuts interest rates more than once before the end of 2024.

As the market shows tentative signs of revival ahead of US nonfarm payroll, the Bitcoin price recently halted its downward trend and surged past the $59,000 mark, reaching an intraday high of nearly $59,992. This movement comes amidst a broader uptick in the cryptocurrency market, where peers like Ethereum, Dogecoin, Ripple, Solana, and Litecoin also experienced gains.

US Senator and highly vocal crypto critic, Elizabeth Warren, has claimed that Iranian crypto miners have terrorist ties including Hamas.

Analysts at cryptocurrency exchange Bitfinex predict the price of Bitcoin could consolidate for up to two months post-halving.

As the meme coin market shows signs of revival, Bitcoin also displayed robust market activity, trading at approximately $59,140 with a 24-hour trading volume of about $35 billion.  The cryptocurrency has increased by around 3.25% in the last day, mirroring the gains seen in the recovering meme coin market.

During the Asian session, Bitcoin (BTC/USD) trades at $57,520, reflecting a 1.25% decrease. This movement is positioned below the pivotal $59,328 mark and suggests a cautious, bearish outlook for the cryptocurrency. This price prediction hinges on key resistance and support levels that could dictate Bitcoin price prediction.

The Bitcoin (BTC) price is consolidating in the mid-$57,000s, down roughly 5% on the day, though up around 1.5% or $1,000 from earlier session lows as traders weigh the outlook for Fed rate cuts this year in wake of the latest policy announcement from the US central bank.