Bitcoin Opens May with 2.4% Gain at $78,450

Bitcoin opened May at $78,450, marking a 2.4% gain over the prior 24 hours.

The daily volume reached $33.8 billion, with a total market cap of $1.565 trillion, keeping Bitcoin as the largest asset on CoinGecko.

Traders are closely watching the monthly open, which sets the reference price for the rest of the month and can influence buying or selling pressure near month-end.

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.