Crypto Price Analysis 5-9: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, CARDANO: ADA, STELLAR: XLM, CHAINLINK: LINK. ARBITRUM: ARB

The crypto market surged as Bitcoin (BTC) and other cryptocurrencies registered significant increases after global trade deals fueled another historic rally. BTC shattered the $100,000 barrier after President Trump announced a comprehensive trade deal between the US and the UK. The flagship cryptocurrency is up nearly 4% over the past 24 hours, trading around $102,708 after reaching an intraday high of $103,756. Meanwhile, Ethereum (ETH) surged past $2,000, registering a staggering jump of nearly 17% and moving to its current level of $2,217. Ripple (XRP) also broke out of its trading range, registering an increase of over 5% to $2.29. Meanwhile, Solana (SOL) surged past $155 and $160, rising over 8% in the past 25 hours and settling at $162. Dogecoin (DOGE) , Cardano (ADA) , Chainlink (LINK) , Stellar (XLM) , Hedera (HBAR) , Toncoin (TON) , Polkadot (DOT) , and Litecoin (LTC) also registered significant price increases. Crypto Market Rallies The crypto market cap surged as Bitcoin (BTC) shattered the $100,000 resistance and moved to its current level of $102,993. BTC breached this level after spending weeks in a narrow trading range between $90,000 and $96,000. The crypto market’s rally comes amid significant developments, as President Donald Trump announced a major trade deal with the UK. The deal signaled a potential de-escalation of global trade tensions, improving market sentiment and investor risk appetite. Treasury Secretary Scott Bessent’s trip to Switzerland to meet with officials from the Chinese Ministry of Commerce has sparked further optimism. Bessent stated during an interaction with press officials, “The current tariffs and trade barriers are unsustainable, but we don’t want to decouple.” BTC’s rally led to significant losses for bearish traders, who paid heavily for their bets against Bitcoin. According to Coinglass data, over $118 million in short positions were liquidated over the past 24 hours. US Senate Votes Against GENIUS Act The United States Senate voted against advancing the GENIUS Act after last-minute pushback from Senate Democrats derailed momentum. The bill’s rejection is viewed as a substantial setback for the crypto industry’s push for regulatory clarity. The setback comes after months of bipartisan negotiations and a win in the Senate Banking Committee. Lawmakers raised concerns about insufficient safeguards against illicit finance and foreign stablecoin issuers. Senate Democrats also highlighted President Trump’s crypto dealings, including his meme coins and fundraising dinners. Treasury Secretary Scott Bessent criticized the vote, stating, “For stablecoins and other digital assets to thrive globally, the world needs American leadership. The Senate missed an opportunity to provide that leadership today by failing to advance the GENIUS Act. This bill represents a once-in-a-generation opportunity to expand dollar dominance and US influence in financial innovation. Without it, stablecoins will be subject to a patchwork of state regulations instead of a streamlined federal framework that is more conducive to growth and competitiveness.” The procedural vote ended 48-49, falling short of the 60 votes needed to begin a formal debate. Bitwise Announces Partnership with Icapital Crypto asset manager Bitwise Asset Management has announced a new partnership with fintech investment platform Icapital to expand access to institutional-grade crypto investment opportunities. The collaboration adds Bitwise’s suite of actively managed crypto strategies to the Icapital Marketplace. Speaking about the partnership, Bitwise CEO Hunter Horseley stated, “Crypto is rapidly emerging as a new alternative asset class, with unique drivers that can make it a compelling diversifier in portfolios for investment professionals.” The integration of Bitwise’s crypto strategies allows Icapital users to access crypto strategies to harness opportunities for alpha in digital asset markets. iCapital noted in a briefing, “Users of Icapital Marketplace are now able to access Bitwise’s active crypto strategies that seek to capitalize on the alpha opportunities in the crypto space.” Bitwise’s offerings include a multi-strategy framework encompassing non-directional, tactically directional, long bias, and special situation approaches. Each offering delivers optimized, risk-adjusted returns with a low correlation to conventional assets. The strategies are managed by a team with expertise in portfolio management, derivatives, and crypto market risk analysis. Bitcoin (BTC) Price Analysis Bitcoin (BTC) shattered the $100,000 barrier after a stunning Thursday rally, which saw the price surge to an intraday high of $103,963. The flagship cryptocurrency reclaimed $100,000 for the first time since February. BTC lost momentum in February after President Trump introduced trade tariffs. The latest rally sets the stage for BTC to retest its all-time high and potentially move beyond it. The primary reason behind the rally was the announcement of a comprehensive trade deal between the US and the UK. The breakthrough deal is the first since Trump triggered a draining trade war, imposing tariffs on long-time trade partners, including Mexico, Canada, and China. Antoni Trenchev, co-founder of digital asset trading platform Nexo, stated, “The retaking of $100,000 must go down as one of Bitcoin’s more formidable feats and is a reminder that buying peak fear – just last month bitcoin was languishing around $74,000 – can be exceptionally lucrative. The speed of the rebound to $100,000 amid a resumption of risk appetite sends a signal that $109,000 and above are in its sights, as buying from long-term holders — those holding for at least 155 days — more than offsets selling by short-term holders.” Institutional investors are bullish about BTC’s prospects, with Standard Chartered analyst Geoff Kendrick stating he believes the flagship cryptocurrency could reach $120,00 by the end of the second quarter. Standard Chartered’s long-term outlook suggests BTC could reach $500,000 by 2028. Meanwhile, VanEck predicts BTC could peak at $180,000 in 2025 and anticipates a surge past $400,000 in the next bull cycle. Ryan Lee, Chief Analyst at Bitget Research, stated, “Bitcoin’s surge to $100K is primarily macro-driven, fueled by expectations of Fed rate cuts and Trump’s vocal push for lower interest rates, which bolsters risk assets. However, the Fed’s focus on unemployment and inflation creates uncertainty around actual rate cuts, with Trump’s influence adding political but not definitive weight. Strong institutional inflows, ETF demand, and whale accumulation provide solid support for a sustained move higher.” Let’s look at BTC’s price action. BTC dropped to an intraday low of $92,948 on Wednesday (April 30) before settling at $94,155. However, it recovered on Thursday, rising 2.45% to surge past $96,000 and settle at $96,458. The price surged to an intraday high of $98,000 on Friday as bullish sentiment intensified. However, it could not stay at this level and settled at $96,939, ultimately registering an increase of 0.50%. BTC lost momentum over the weekend as selling pressure returned. As a result, BTC fell 0.98% on Saturday and 1.66% on Sunday, slipping below $95,000 and settling at $94,390. Source: TradingView BTC started the current week in positive territory, rising 0.41% to $94,773. Bullish sentiment intensified on Tuesday as markets rallied, driving the price up over 2% to $96,845. BTC registered a marginal increase Wednesday to claim $97,000 and settle at $97,013. BTC and the crypto markets rallied Thursday after President Trump announced a comprehensive trade deal with the UK. The flagship cryptocurrency surged over 6%, shattering the $100,000 mark, and settled at $103,096, but not before reaching an intraday high of $103,963. The current session sees BTC marginally up as buyers look to force a move past $105,000. However, BTC faces selling pressure and profit-taking, leading to waning momentum. If buyers can regain momentum, a push toward $109,000 could occur. Ethereum (ETH) Price Analysis Ethereum (ETH) has registered a stunning rally over the past two sessions, buoyed by the Pectra upgrade and the US-UK trade deal. The world’s second-largest cryptocurrency surged past the $1,860 resistance on Thursday after trading in a narrow range since April 24. ETH’s Thursday rally allowed it to shatter the $2,000 level, continue its trajectory, and cross $2,000. The Pectra upgrade has also rekindled institutional interest in ETH. Meanwhile, the Ethereum Foundation has allocated over $32 million in grants to enhance the Ethereum ecosystem. ETH’s 22% jump is the biggest single-day increase since May 2021. Min Jung, a research analyst at Presto Research, stated, “The recent Pectra upgrade has regained confidence in Ethereum. ETH/BTC is down by almost 40% this year, so it’s not a wonder that buyers are coming in at these levels.” The Pectra upgrade went live on Thursday, improving staking efficiency, validator operations, and scalability for Layer2 solutions. ETH’s recent surge is also driven by general market optimism thanks to US-China trade talks and the US-UK trade deal, which has boosted market sentiment. “Investors are altering their perception on crypto as altcoins are gaining buying momentum.” As seen in the price chart, ETH had been struggling to build momentum, having been pinned below $1,860. The price registered a notable increase on Thursday (May 1), rising 2.42% to $1,838. Despite the positive sentiment, ETH could only register a marginal rise on Friday before selling pressure overwhelmed buyers over the weekend. As a result, ETH dropped 0.40% on Saturday and 1.34% on Sunday to settle at $1,810. Source: TradingView ETH started the current week positively, rising 0.58% to $1,820. Despite the positive start, ETH lost momentum on Tuesday, registering a marginal decline and settling at $1,816. Price action remained bearish on Wednesday as ETH dropped 0.26% to $1,812. However, price action turned bullish as markets rallied thanks to the US-UK trade deal. As a result, ETG soared almost 22%, surging past $2,000 and settling at $2,206. ETH extended its gains during the ongoing session, surging to an intraday high of $2,490. However, it lost momentum after reaching this level thanks to buyer exhaustion, and the price fell to its current level of $2,345. Analysts believe if ETH can stay above $2,200, it could build momentum and push toward $2,500. Solana (SOL) Price Analysis Solana (SOL) surged past the resistance at $155 on Thursday as the crypto market came to life following the announcement of a trade deal between the US and the UK. The altcoin surged over 11% on Thursday, crossing $160 and settling at $164, and has extended gains during the ongoing session as buyers eye a push toward $200. However, it is experiencing volatility during the ongoing session thanks to selling pressure and profit-taking. SOL’s price action was relatively muted as it struggled to surpass $155. It registered a notable increase on Thursday (May 1) to settle at $150. However, it lost momentum on Friday, dropping 1.88%, slipping below $150 and settling at $148. Price action remained bearish over the weekend, and SOL dropped 0.83% on Saturday to settle at $146. The price declined on Sunday, falling nearly 2% to $144. Source: TradingView SOL recovered on Monday thanks to lower-level support. As a result, it rebounded almost 2% to $146. The price fell to an intraday low of $141 as selling pressure intensified. However, SOL rebounded from this level to register a marginal increase. Price action remained positive on Wednesday as SOL rose 0.35% to $147. Bullish sentiment intensified on Thursday as markets rallied, with SOL surging nearly 12% to cross $160 and settle at $164. The current session sees SOL up over 2% and trading at $168 as buyers look to push the price higher. Cardano (ADA) Price Analysis Cardano (ADA) registered a substantial decline on Wednesday (April 30) as sellers attempted to drive the price below the 20-day SMA. However, it rebounded from this level on Thursday, rising over 3% to cross $0.70 and settling at $0.704. The price pushed higher on Friday, reaching an intraday high of $0.726. However, it lost momentum after reaching this level and fell 0.85%, ultimately settling at $0.698. The price raced to an intraday high of $0.730 on Saturday but lost momentum again, ultimately settling at $0.70 after a marginal increase. Price action turned bearish on Sunday as ADA dropped over 3% to end the weekend at $0.677. Source: TradingView ADA continued to decline on Monday, falling over 2%, slipping below the 20 and 50-day SMAs and settling at $0.663. The price plummeted to an intraday low of $0.678 on Tuesday as selling pressure intensified. However, ADA rebounded from this level to cross the moving averages and settle at $0.678, ultimately registering an increase of 2.26%. Price action turned bearish on Wednesday as ADA fell almost 1%, slipping below the 20-day SMA to $0.672. ADA surged on Thursday as markets rallied, soaring over 14% to $0.769. The price raced to an intraday high of $0.817 during the ongoing session but lost momentum, dropping to its current level of $0.787. Buyers will look to retain momentum and drive the price above the 200-day SMA to $0.80. Stellar (XLM) Price Analysis Stellar (XLM) had been trading downwards before Thursday as sentiment around the asset turned bearish after it failed to cross $0.30. XLM registered a substantial decline on Wednesday (April 30), falling 2.81% to $0.270. The price recovered on Thursday, rising 1.35% to $0.274. Buyers retained control on Friday as XLM registered a marginal increase and settled at $0.275. However, selling pressure returned over the weekend as the price dropped over 2% on Saturday and settled at $0.269. Sellers retained control on Sunday as the price fell 1.07%, ending the weekend in the red at $0.266. Source: TradingView Selling pressure intensified on Monday as XLM fell 2.92%, slipping below the 20 and 50-day SMAs and settling at $0.258. The price fell to an intraday low of $0.252 on Tuesday as sellers attempted to overwhelm support levels. However, XLM rebounded from this level to register an increase of 1.38% and settle at $0.262. The price fell back on Wednesday, dropping nearly 1% to $0.260. Bullish sentiment intensified on Thursday, and XLM rallied almost 12%, surging past the 20 and 50-day SMAs and settling at $0.291. The current session sees the price up nearly 4%, having crossed $0.30 and trading around $0.301. Chainlink (LINK) Price Analysis Chainlink (LINK) saw bearish sentiment dominate towards the end of the previous week and weekend as it plunged to an intraday low of $13.21. LINK registered a substantial increase of 3.22% on Thursday (May 1) and settled at $14.75. However, it lost momentum on Friday and fell 0.56% to $14.67. Bearish sentiment intensified over the weekend as LINK fell 2.85% on Saturday and 2.63% on Sunday to slip below the 20-day SMA and settle at $13.88. Source: TradingView Sellers retained control on Monday as the price fell to $13.64 after a drop of almost 2%. LINK plunged to an intraday low of $13.21 on Tuesday as selling pressure intensified. However, the price rebounded from this level to register an increase of 1.32% and settle at $13.82. LINK encountered volatility on Wednesday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as the price registered a marginal decline. LINK surged over 15% on Thursday as markets rallied, surging past the 50-day SMA and $15 and settling at $15.89. The current session sees the price up over 2%, trading at $16.20. Arbitrum (ARB) Price Analysis Arbitrum (ARB) registered a substantial increase on Thursday (May 1), rising over 4%, crossing the 50-day SMA, and settling at $0.339. It lost momentum on Friday, registering a marginal decline. Bearish sentiment intensified over the weekend as ARB plunged almost 6% on Saturday, slipping below the 50-day SMA and settling at $0.319. ARB continued to drop on Sunday, falling nearly 3%, slipping below the 20-day SMA and settling at $0.310. Source: TradingView ARB encountered volatility on Monday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as ARB registered a marginal increase. Bearish sentiment returned on Tuesday as the price fell to an intraday low of $0.294. However, it rebounded from this level to settle at $0.308, ultimately registering a decline of 0.87%. ARB recovered on Wednesday, registering a marginal increase and moving to $0.310. Bullish sentiment intensified on Thursday as markets rallied. As a result, ARB surged almost 17%, racing past the 20 and 50-day SMAs and settling at $0.362. The current session sees ARB up nearly 5% and trading around $0.379 after reaching an intraday high of $0.393. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: Crypto Daily