All top 10 cryptocurrencies and 99 of the top 100 by market capitalization have experienced price increases since yesterday. Analysts attribute this rally to a combination of institutional adoption, favorable regulatory developments, and positive macroeconomic conditions. Despite these gains, the overall cryptocurrency market capitalization has remained stable at approximately $3.58 trillion, while total trading volume has dipped to $95 billion, marking the lowest level seen in several days.
Here are the highlights:
- Bitcoin (BTC) reached an intraday high but has since decreased by 1.6% from its all-time peak;
- Analysts are exploring whether cryptocurrencies are detaching from stock market trends;
- Bitcoin continues to defy significant macroeconomic challenges;
- There are optimistic predictions for Bitcoin to hit $150,000, while Ethereum (ETH) is also expected to rebound;
- U.S. Spot Bitcoin ETFs saw one of the year’s largest inflows last Friday;
- The current crypto rally appears to be sustainable.
Crypto Winners & Losers
As of now, all cryptocurrencies within the top 10 category by market cap have posted gains over the past 24 hours. Bitcoin (BTC) has risen by 2.3%, trading at $110,080, after registering an all-time high of $111,814 on May 22, a decline of 1.6% since that peak.
Ethereum (ETH) has seen an increase of 3.6% with a trading price of $2,581, reaching a daily high of $2,585.
For the sixth consecutive day, Cardano (ADA) has emerged as the top performer, appreciating by 5.1% to $0.7736. Anticipation surrounds Cardano’s upcoming Ouroboros Leios upgrade, scheduled for release next year, which aims to enhance the chain’s scalability and enable it to process tens of thousands of transactions each second.
The Cardano community is also eager to expand its ecosystem, with advocates expressing their commitment to increasing visibility and engagement within the region.
“Let’s build together! More exciting updates to come.” — Kavinda Kariyapperuma (@OfficialKavinda), May 23, 2025.
Of the top 100 coins, only one is displaying negative movement today. Tokenize Xchange (TKX) has fallen by 2.2%, currently priced at $32.77.
Conversely, Hyperliquid (HYPE) leads in gains, climbing by 11.7% to reach $38.88.
This volatility in the crypto market is still heavily influenced by macroeconomic factors, particularly those stemming from U.S. policies. Recently, President Donald Trump postponed the implementation of 50% tariffs on EU imports until July 9, alleviating fears of an impending trade war and facilitating capital movement toward riskier assets.
“A concrete deadline is reassuring. A deal sealed by July 9 would provide companies with clear guidelines on tariffs and tech trade, paving the way for increased investment on both sides of the Atlantic,” commented ForceField (@ForceFieldX), May 26, 2025.
Bitcoin is on the Path to $150,000
Ruslan Lienkha, chief of markets at YouHodler, asserts that Bitcoin has the necessary internal elements to potentially reach the $150,000 threshold. Key factors supporting this prediction include post-halving supply constraints, ongoing institutional adoption, and increased inflows into Bitcoin ETFs.
“With these fundamentals, even a stable macroeconomic backdrop could encourage Bitcoin to ascend towards $150K,” Lienkha remarked.
He highlighted that a significant portion of Bitcoin’s supply is held in retail wallets, indicating that retail investors continue to play a dominant role in market dynamics. Nevertheless, Lienkha noted a growing trend of institutions allocating Bitcoin as a strategic asset within diversified portfolios, reflecting its recognition as a legitimate asset class and a potential long-term store of value.
Last Friday, U.S. Spot Bitcoin ETFs reported one of the largest net inflows of the year, with 7,869 BTC, marking the most substantial daily inflow since April 29. The seven-day moving average is trending upward, suggesting a consistent increase in institutional demand.
Lienkha also warned that Bitcoin’s ongoing bullish momentum is contingent upon broader financial market sentiment, particularly the performance of U.S. equities. As long as the stock market remains steady, Bitcoin is expected to continue on its upward trajectory.
Eyeing potential risks, he pointed to the bond market, suggesting that a widespread sell-off could negatively impact the crypto space.
In contrast, Alice Liu, Head of Research at CoinMarketCap, argues that cryptocurrencies are becoming increasingly independent from traditional markets. Despite encountering significant macroeconomic challenges, including a U.S. credit downgrade and the lowest Treasury demand in two decades, Bitcoin still reached an all-time high, highlighting its emerging role as an alternative refuge during sovereign debt issues.
Nonetheless, Lienkha acknowledged Bitcoin’s maturation as an asset class while asserting that it must undergo a more extended evolution before being fully recognized as a hedge against inflation and economic instability. He emphasized that achieving genuine safe-haven status necessitates consistent performance through various market cycles and crises, which Bitcoin has yet to fully demonstrate.
Levels & Events to Watch Next
Following its peak of $111,814 last Thursday, Bitcoin experienced a slight pullback to $110,594, though it remains above a daily low of $106,815. Overall, it has gained around 6.6% over the past week. Key resistance levels are identified at $112,000, $115,000, and a critical $120,000 threshold. Support levels to monitor include $107,000 and $100,000, with potential declines possibly reaching $92,000.
Ethereum also shows signs of a potential resurgence, as noted by Liu. The recent Pectra upgrade significantly raised validator capacities, reduced layer-2 settlement costs, and enhanced overall usability, contributing to Ethereum’s 42.3% rise over the last month.
Interestingly, the Fear and Greed Index has fallen from 76 to 69, hinting at an increasingly bullish market sentiment. Investors are actively buying, anticipating further price increases.
Source: CoinMarketCap
Moreover, spot Bitcoin ETFs have recorded another day of inflows, totaling $211.74 million, while spot Ethereum ETFs have seen net inflows of $58.63 million.
In South Korea, lawmakers linked to presidential candidate Lee Jae-myung are advocating for an accelerated rollout of a KRW stablecoin. Min Byoung Dug, a Democratic Party lawmaker, emphasized that as an internet powerhouse, South Korea must lead in institutionalizing stablecoins to compete against U.S. dollar-based alternatives. Candidate Lee has also promised measures to stimulate stock market growth and economic recovery.
However, in the United States, Coinbase is facing a class action lawsuit from shareholders, alleging failure to disclose a data breach and regulatory violations that allegedly impacted the company’s stock valuation. The repercussions of these legal issues could ripple through the broader cryptocurrency market.
Quick FAQ
Why did crypto move against stocks today?
The stock market is experiencing another downturn, with the S&P 500 down 0.67%, the Nasdaq-100 down by 0.93%, and the Dow Jones Industrial Average falling by 0.61%. Concerns regarding Trump’s recent tariff threats have heightened anxiety among investors regarding escalating global trade tensions. However, his sudden reversal on a tariff decision may influence today’s stock market performance. Chief market analyst Kate Leaman at AvaTrade indicated that whether the tariffs are enacted or not, the market is already factoring in these risks.
Is this rally sustainable?
Current factors influencing the market remain favorable alongside an overall positive sentiment. The rally appears to be sustainable for now, although profit-taking could occur after significant gains, possibly leading to short-term corrections.
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