The crypto market is holding steady. Its total value went up to $3.03 trillion, gaining 0.58% in the last 24 hours. This rise comes as investors hope that weaker US job data will lead the Federal Reserve to cut interest rates sooner than expected.
Bitcoin (BTC) also maintains its market share at up to 63.98%. At the same time, altcoins are getting more attention. Traders are moving to riskier assets, bringing in more money and boosting multiple tokens.
Bitcoin holds above $96K as ETF buying hits high
With $23.16 billion in daily trading, BTC stays strong above $96,000. A key reason is Blackrock’s IBIT ETF, which set a new record by pulling in almost $1 billion in one day. BTC ETFs have seen eight days of buying since April 14. This raises positive feelings, with some buyers using the Mine Island game to train themselves in a fast-moving market.
There are signs of caution, as some indicators show momentum slowing. Still, the simple moving average is helping keep the price steady. If the positive trend continues, BTC could reach $100K to $105K. Otherwise, it could fall to $90K. The price briefly dropped to $95,500 before facing resistance from heavy selling.
Ethereum and Cardano jump as altcoins gain strength
Ethereum (ETH) remains strong, trading above $1,800 with $10.33 billion daily. Even though its price has moved less than 2% in the past month, the strength index stays above neutral, showing steady demand. ETH is having trouble moving higher, but a rising trendline below is helping to keep it supported.
This creates a fight between buyers and sellers. If buyers return, ETH could test the $2,100 level. However, a sudden shock could push it down to $1,500. Along with ETH, Cardano (ADA) rose by 2%, beating BTC’s 0.6% rise. Meanwhile, Bitcoin Cash (BCH) jumped 6%, leading the gains among major altcoins.
XRP traders aim for $2.10, bets stay mixed
Ripple (XRP) has been rising, now trading near $2.20 after going up 7%. On Polymarket, most traders expect XRP to reach at least $2.10 by the end of May, with an 82% chance. Some are more hopeful, betting on a rise to $2.30. Meanwhile, a few are aiming for $2.80 to $3.50, though these bets have lower odds.
On the other hand, some are betting that XRP will drop to $1.50. This has a 10% chance but has over $38,000 in bets. Technically, XRP is showing mixed signals. While XRP looks strong in the short term, a key support level near $2.00 may help prevent big drops. If momentum keeps going, it could rise toward $2.50. However, if buying slows down, it might fall back to around $2.00.
Altcoins pick up speed
As BTC’s rally slows down, altcoins are stepping up and bringing in more money. Big buys from institutions, like Blackrock’s ETF investments, are sparking more interest in the crypto market. Some of that attention is spreading to altcoins. Major tokens like ETH and ADA are breaking through key resistance levels, driving new momentum.
Privacy coins like BCH are also going up, as traders shift away from Monero (XMR) after recent problems. Smaller projects are also growing. Hyperliquid (HYPE), a platform for real-world assets, jumped 18.4%. This shows that buyers are now more interested in tokens linked to the real world.
Circle grows stablecoin plans
Circle is also growing its stablecoin business after getting new approval in Abu Dhabi. This lets it offer more services across the Middle East and Africa. This green light builds on Circle’s earlier step to open in the Abu Dhabi Global Market (ADGM) and make stronger ties with tech groups like Hub71.
Meanwhile, the exchange 1inch is also growing. It launched its Fusion tool on Solana (SOL), allowing for zero gas fees. This update also brings safer swaps for over 1 million assets and opens the door for swaps between SOL and 10 other networks.
1inch hopes to lower price gaps and bring in more money, as it taps into Solana’s busy DeFi market. With these exciting updates, more buyers are getting into the crypto space. While the risks are there, the Mine Island game allows newcomers to sharpen their intuition in crypto trading.
