Crypto Markets Drops as Bitcoin Fails to Hold $5,300 Support, Stocks Hit All-Time Highs

Monday, April 29 - after seeing moderate gains yesterday, crypto markets have tumbled at press time, with most of the top 20 coins by market cap in the red.

Bitcoin cash, the fourth top crypto by market cap, has dipped as much as 7.1% over the day to trade at $242 at press time.

Over the past 7 days, the major currency is down 2.41%. Bitcoin's dominance on crypto markets is 54.9% at press time, slightly up from 54.5% at the beginning of the day.

Ethereum, the second cryptocurrency by market cap, is down 1.79% over the day, to trade at $155 at press time.

Ripple, the third top cryptocurrency by market cap, is down 1.35%, and trading at $0.293 at press time.

Total market capitalization is $168 billion at press time, while daily trade volume rose to $43 billion.

Earlier today, Intercontinental Exchange's institutional-grade crypto trading platform Bakkt announced an acquisition of a crypto custodian service Digital Asset Custody Company.

The United States Securities and Exchange Commission announced it has temporarily halted securities trading on the Bitcoin Generation crypto exchange "Due to concerns about the accuracy and adequacy of information in the marketplace."

At press time, SPX continues to grow to 2,947, while Nasdaq hit an all-time high of 8,164, up around 0.2%. Dow Jones Industrial Average gained 0.1% to 26,571.

At press time, OPEC basket is down 2.2%. Gold prices dropped today as equities rose after a report that U.S. consumer spending surged, with the markets anticipating the U.S. Federal Reserve's meeting for guidance on interest rates, according to CNBC. At press time, spot gold is down 0.5% to $1,279 per ounce, while June gold futures tumbled almost 0.6% to $1,281 per ounce.