Bitcoin May Open Strength Fades Above $78K

Bitcoin began May by trading at $78,450 on the first day of the month, marking a gain of roughly 2.4% over the prior 24 hours.

The daily volume reached $33.8 billion, with a total market cap of $1.565 trillion, solidifying Bitcoin's position as the largest asset on CoinGecko by a significant margin.

Market watchers are closely monitoring the first-day-of-month candle, which is often used as a structural reference point for traders.

A clean break above $80,000 would represent the first time Bitcoin has traded above that level since January 2025, and its psychological significance cannot be overstated.