The cryptocurrency market has experienced a minor pullback, indicating a potential shift towards consolidation. Out of the top 100 coins ranked by market capitalization, 80 have seen declines over the past 24 hours. The overall cryptocurrency market capitalization has decreased by 2.2%, now totaling approximately $3.55 trillion. Additionally, the total trading volume in crypto stands at $116 billion, a figure that aligns with typical levels.
TLDR:
The crypto market rally has stalled.
Bitcoin is hovering around the $109,000 mark.
Older Bitcoin coins are experiencing increased activity.
Major investors remain confident in Bitcoin’s long-term potential.
Investment products linked to digital assets continue to see considerable inflows.
While the dip was anticipated, upcoming events could influence market direction significantly.
Crypto Winners & Losers
At this moment, six of the ten largest coins by market capitalization have experienced declines, one has increased, and one remains stable.
Bitcoin (BTC) reached an intraday peak of $110,407 but dropped to $108,897 as of this writing, reflecting a decrease of 0.7% within the day. This follows its all-time high of $111,814 recorded on May 22, representing a 2.6% decline since then.
Ethereum (ETH) stands out as the only coin within this group to record a gain, rising by 0.5% to a trading price of $2,639.
Conversely, Dogecoin (DOGE) saw the most significant drop, falling by 2.5% to a price of $0.223.
Among the top 100 cryptocurrencies, around 20 have reported price increases, with Quant (QNT) being the highest gainer at 8.9%, bringing its price to $115.
In stark contrast, Monero (XMR) suffered the steepest decline in this bracket, experiencing a double-digit fall of 14.4% and now trading at $334.
Despite the volatility affecting traditional markets, many investors are increasingly viewing cryptocurrency as a safe haven. The current market drop appears to be a typical short-term pullback following a prior rally. However, positive developments, such as Circle’s impending IPO, have not led to upward price movement, suggesting a possible further decline.
Notably, Bitcoin 2025 has commenced, featuring several prominent figures, an event that investors are closely monitoring.
On the national front, El Salvador is facing scrutiny from the International Monetary Fund (IMF), which affirmed its commitment to ensuring that the government’s Bitcoin holdings remain stable.
Thank you Coach / @SenTuberville! The pleasure was entirely mine, and thank you for your continued advocacy of US derivative markets. https://t.co/FrHNbuRJDj
— Brian Quintenz (@BrianQuintenz) April 9, 2025
In the United States, Brian Quintenz, nominated by President Donald Trump to lead the Commodity Futures Trading Commission (CFTC), reported $3.4 million in assets linked to cryptocurrency endeavors.
However, the outgoing CFTC Commissioner, Christy Romero, cautioned that the recent trend of fluctuating regulation could hinder the success of U.S. financial markets.
‘Major Players Still Convinced of BTC’s Long-Term Value’
According to data from blockchain analytics firm Glassnode, there has been a noticeable uptick in spending from older BTC holders, indicating that older coins are becoming active once more. The aggregate transaction volume from one to five-year holders recently reached $4.02 billion, marking the highest level since February.
Here’s how the current spending of older $BTC stacks up against this cycle’s peaks:
Oct 2024: $9.25B (led by 1-2y cohort)
Mar 2024: $6.11B (led by 2-3y)
Feb 2025: $5.42B (led by 2-3y)
Nov 2024: $4.39B (led by 3-5y)
May 2025: $4.02B (led by 3-5y) pic.twitter.com/duhehwk6qp
— glassnode (@glassnode) May 28, 2025
Gadi Chait, Head of Investment at Xapo Bank, remarked that Bitcoin has been consolidating just below its all-time high, trading around $109,000 amid various market pressures.
Chait noted that the foundational support for Bitcoin’s current price appears stronger compared to previous cycles, driven by recent policy changes in the U.S., significant institutional investments in digital assets, and a shift in investor attitudes favoring alternatives.
“If this momentum continues, discussions of Bitcoin’s future may move beyond short-term volatility to focus on its role as a fundamental asset in the global economy,” Chait suggested.
Institutional investment in Bitcoin ETFs continues to trend upward, although geopolitical tensions and policy uncertainties are causing some investors to remain cautious. Nonetheless, aggressive buying during price dips is evident.
Additionally, analysts at Glassnode have observed that the BTC funding rate has recently turned negative.
$BTC funding rate just flipped negative. Shorts are quietly building across the top 10, with $BNB and $ADA both showing signs of pressure. Notably, #Solana now ranks as the 6th lowest funding rate among all assets you can track on Glassnode Studio: https://t.co/xqigM0dgzP pic.twitter.com/CRZvfiGVkZ
— glassnode (@glassnode) May 28, 2025
Levels & Events to Watch Next
Following a record high of $111,814 last Thursday, Bitcoin experienced a brief rise to $110,407, but has since settled at $108,897, hinting at a consolidation phase.
The key resistance levels are identified at $109,653 and $111,935 before any significant attempts toward the $113,000 range. The initial support level is at $108,731; if breached, it could lead to declines to $107,078 or $105,905. In the immediate term, there seems to be little risk of Bitcoin falling below $100,000.
Meanwhile, the Fear and Greed Index remains steady at 68, indicating positive market sentiment and sustained bullishness. This is a drop from last week’s extreme greed levels, suggesting reduced chances of overconfidence that could trigger major corrections.
Additionally, on May 27, U.S. Bitcoin spot exchange-traded funds (ETFs) recorded a net inflow of $384.85 million, primarily driven by BlackRock’s contribution of $409.26 million, bringing total net inflows to $44.91 billion. Ethereum spot ETFs in the U.S. saw $38.77 million in net inflows, with BlackRock’s contributing $32.48 million, raising cumulative inflows to $2.8 billion.
This consistent influx indicates strong support from institutional investors.
Digital asset firms are actively seeking funds for significant Bitcoin purchases, driven by the recent market uptick. Currently, 113 publicly traded companies have Bitcoin holdings, a rise from 89 in April, amassing over 800,000 BTC combined. “Favorable market conditions are attracting capital,” stated Aaron Chan of Flow Traders during an interview.
Trump Media is diving headfirst into crypto, raising $2.5 billion to build one of the biggest Bitcoin treasuries.#TrumpMedia #Bitcoin https://t.co/Fpfqth4KCA
— Finance Newso.com (@Finance Newso) May 27, 2025
Trump Media & Technology Group, controlled by former President Trump, is attempting to raise $2.5 billion to create one of the largest Bitcoin treasuries held by a public company. Given the associated ethical concerns, market participants are advised to monitor developments closely.
Finally, attention turns to the upcoming US Federal Reserve meeting minutes from May, with potential implications for the market.
Quick FAQ
Why did crypto move against stocks today?
The cryptocurrency market has experienced a slight decline as the stock market saw substantial gains. The S&P 500 rose by 2.05%, the Nasdaq-100 increased by 2.39%, and the Dow Jones Industrial Average climbed by 1.78%. Optimism surged on Wall Street following former President Trump’s comments about easing tariff threats against the European Union, contributing to a reduction in trade tensions.
Is this dip sustainable?
The market may currently be consolidating, with robust market capitalization and investor interest suggesting that significant bear action is unlikely in the short term. However, upcoming events could unsettle the market if negative regulatory or macroeconomic developments emerge.
The post Why Is Crypto Down Today? – May 28, 2025 appeared first on Finance Newso.
