The cryptocurrency market experienced a downward trend over the weekend, with nearly all assets in the top 100 showing declines today. As of the latest update, the total cryptocurrency market capitalization has fallen by 3.3% in the last 24 hours, bringing it to $3.36 trillion. The overall trading volume across the crypto market has reached $141 billion.
TLDR:
The market is experiencing declines caused by liquidations, despite some ETF inflows providing upward pressure;
BTC briefly reached a weekly peak of $106,518 before retreating to $103,011;
Predictions suggest Bitcoin could eventually rise to $136,000;
Spot ETFs continue to draw investor interest, generating weekly net inflows of $608.4 million;
Analysts anticipate a short-term pullback influenced by liquidations;
While the current dip appears unsustainable, adverse news or regulatory changes may extend it.
Crypto Declines on May 19, 2025: Winners and Losers
Today, none of the top 10 cryptocurrencies by market capitalization experienced price increases. Ethereum (ETH) faced the most significant drop, declining 4.8% to $2,386.
Bitcoin (BTC) recorded the smallest decrease among the leading coins, down 0.9% and trading at $103,011, marking a substantial retreat from its earlier daily high of $106,518, which also represented its peak for the week.
Only four out of the top 100 cryptocurrencies managed to post price increases during this period. Virtuals Protocol (VIRTUAL) emerged as the day’s top performer, gaining 4.5% to reach a price of $1.82.
Conversely, Bittensor (TAO) suffered the largest loss, plunging 7.1% to $399, followed closely by Ethena (ENA), which fell 6.1% to $0.3569.
Virtuals Protocol is designed for tokenized AI agents on Coinbase’s Ethereum layer-2 Base, which recently announced an increase in traffic to the network.
Better discovery. Deeper analysis. @arbusai is now live on Virtuals Protocol. https://t.co/tTRSmx0Wl5 pic.twitter.com/W3bTjBiXh9
— Virtuals Protocol (@virtuals_io) May 18, 2025
In conjunction, it was revealed that the Arbus Token, from the AI market intelligence platform Arbus, has been launched on Virtuals.
The pullback observed today seems chiefly influenced by liquidations, amounting to $669.12 million over the past 24 hours.
Source: Coinglass
Bitcoin Could Reach $136,000 Soon
John Glover, the Chief Investment Officer at crypto lending platform Ledn and a former Barclays managing director, projects a brief correction for Bitcoin before it aims for a new target of $136,000.
“The BTC price action is tracking the projected line nicely,” Glover commented, anticipating a minor correction that could see prices dip into the mid-$80,000 range to complete Wave (ii) of Wave 5.
According to Glover, following this correction, the subsequent upward movement could push Bitcoin towards $120,000, with the ultimate goal of reaching $136,000 later this year or early next year “to complete Wave 5 (orange line) of the bull run.”
He added that while wave (i) could be entirely retraced by wave (ii), revisiting the $74,500 low of Wave IV cannot be ruled out. Nonetheless, Glover remains optimistic about a rally to between $133,000 and $136,000 by the end of this year or the beginning of next.
Source: John Glover, Ledn
In a related sentiment, Adam Back, the CEO of the blockchain technology firm Blockstream, has stated that Bitcoin is significantly undervalued and could potentially reach $1 million per coin in this market cycle.
Back noted that the four-year pricing cycle for Bitcoin is currently elongated, suggesting that we are still in the early stages. “I believe this cycle could reach impressive heights […] $500,000 to $1 million, because there’s a lot going on,” he said, citing recent developments like the US approval of spot Bitcoin ETFs and a supportive political climate towards crypto.
BULLISH: Adam Back asserts “$100,000 is way too cheap” and foresees Bitcoin hitting between “$500,000 and $1 Million during this cycle.” pic.twitter.com/7oy5haOTbn
— Simply Bitcoin (@SimplyBitcoinTV) April 24, 2025
What to Watch Next
Bitcoin reached its previous weekly high in December 2024, exceeding $104,400. Currently trading around $103,000, the coin indicates short-term weakness. A significant drop below the psychological threshold of $100,000 and the technical level of $98,000 might signal further declines.
A recent report from Glassnode highlights a notable accumulation zone between $93,000 and $95,000, which is expected to act as a robust support level in light of potential short-term market pullbacks. This range is likely to be viewed by investors as a value opportunity.
Source: Glassnode
Additionally, the Fear and Greed Index has stagnated at 71 for several days, hinting at rising optimism and buying momentum, but it may also reflect overconfidence and potential overvaluation.
Despite the current drop, prices remain buoyed by consistent inflows into spot ETFs and broader macroeconomic factors. Issues such as inflation and tariff agreements are drawing investor attention towards safe assets, with digital assets among the preferred choices.
For the week ending May 16, US-listed spot Bitcoin ETFs registered net inflows of $608.4 million, spearheaded by BlackRock’s iShares Bitcoin Trust (IBIT).
Furthermore, Metaplanet has added 1,004 BTC to its holdings, cementing its position as Asia’s largest corporate Bitcoin holder, which now totals 7,800 BTC as part of its accumulation strategy. This acquisition follows the company’s announcement of record earnings in the first quarter of 2025.
*Metaplanet Acquires Additional 1,004 $BTC* pic.twitter.com/r86rLc7ngh
— Metaplanet Inc. (@Metaplanet_JP) May 19, 2025
Quick FAQ
Why did crypto diverge from stocks today?
The broader cryptocurrency market encountered significant volatility and downward pressure today, attributed to high leverage and widespread liquidations. Conversely, US stock markets experienced gains spurred by increased investor and macro optimism, with the S&P 500 up 0.7%, the Nasdaq-100 rising by 0.43%, and the Dow Jones Industrial Average gaining 0.78%.
Is this dip sustainable?
This current sell-off appears potentially unsustainable due to continuous institutional interest. The decline seems to be a pullback catalyzed by liquidations across various positions. Nevertheless, adverse news or regulatory developments, coupled with market volatility, could trigger further corrections.
The post Why Is Crypto Down Today – May 19, 2025? appeared first on Finance Newso.
