Bitcoin Opens May Above $78K Amid Key Price Range Test
Bitcoin opened May above $78K as the monthly candle tested a key price range. On May 1, 2026, Bitcoin traded at $78,450, up roughly 2.4% over the prior 24 hours.
The daily volume reached $33.8B, with a total market cap of $1.565 trillion. This kept Bitcoin as the largest asset on CoinGecko by a significant margin.
Traders are closely watching the monthly open as it establishes the reference price for the rest of the month. A close above $78,280 at month-end would confirm a second consecutive positive monthly candle, while a close below would mark a failed breakout from the April range.
The Federal Reserve's May meeting is scheduled for the first week of the month, adding a macro variable to Bitcoin's near-term price trajectory. In comparison to other listed tokens, Bitcoin's 2.4% gain is modest, with Unibase gaining 56%, SkyAI gaining 21%, and Monad gaining 7.3%.