Crypto Price Analysis 5-30: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, CELESTIA: TIA, INTERNET COMPUTER: ICP, FILECOIN: FIL

The crypto market registered a substantial decline as Bitcoin (BTC) , Ethereum (ETH) , and other altcoins fell from key levels. BTC lost momentum late on Thursday and fell from $108,886 to a low of $104,802 before recovering to reclaim $105,000 and move to its current level. The flagship cryptocurrency is down over 1% in the past 24 hours, trading around $106,192. Meanwhile, ETH slipped below $2,700 after dropping over 3% in the past 24 hours. The world’s second-largest cryptocurrency is trading at around $2,638. Ripple (XRP) continued its bearish trajectory, with the price down almost 3%, while Solana (SOL) fell below $170 after a drop of nearly 4%, and is currently around $165. Dogecoin (DOGE) has registered a substantial decline, with the price down almost 8%. Cardano (ADA) , Chainlink (LINK) , Stellar (XLM) , Hedera (HBAR) , Litecoin (LTC) , and Polkadot (DOT) also registered significant declines. However, Toncoin (TON) bucked the bearish trend and is up over 1%. Proof-Of-Stake Does Not Constitute Securities Transactions The United States Securities and Exchange Commission (SEC) has said that certain blockchain staking activities do not involve the offering of securities. The SEC stated its view involves the staking of “covered crypto assets” on Proof-of-Stake networks, activities of third-party service providers like custodians and node operators, and ancillary services. “Accordingly, it is the Division’s view that participants in Protocol Staking Activities do not need to register with the Commission transactions under the Securities Act.” Specifically, ancillary services encompass self-storage, self-custodial staking with a third party, and custodial management, where custodians stake on behalf of asset owners. SEC Commissioner Hester Peirce welcomed the decision, stating, “Today’s statement provides welcome clarity for stakers and ‘staking-as-a-service’ providers in the United States.” China Imposes Fresh Ban On Crypto China has announced a sweeping new ban on crypto, prohibiting not just the trading and mining of cryptocurrencies but also the individual ownership of cryptocurrencies like BTC. The move is a significant escalation of China’s hardline approach to crypto, reiterating its commitment to centralizing financial control and promoting the use of the state-backed digital yuan. The announcement had an immediate impact on the crypto market, as BTC registered a sharp dip, and altcoins followed suit, exhibiting even greater volatility. The ban allows Beijing to tighten its grip on financial flows in the country and accelerate the adoption of the digital yuan. It could also prompt greater decentralization in crypto across Asia as users seek alternative jurisdictions with more favorable policies. US Markets Close Green Despite Tariff Uncertainty US stocks closed in positive territory, with the S&P 500 up 0.4% after Nvidia’s strong first-quarter earnings boosted investor sentiment. However, the gains were limited due to renewed uncertainty around President Donald Trump’s tariff policies following conflicting court decisions. The tech-heavy Nasdaq Composite climbed 0.39%, while the Dow Jones Industrial Average rose 127 points. Price action turned negative after a federal court reinstated tariffs on the European Union hours after the US Court of International Trade ruled them unlawful. Investors are wary of President Trump’s inconsistent stance on trade, particularly regarding the reciprocal tariff policy, which adds to concerns about persistent inflation. Several companies in the US have cited tariffs as key reasons behind the weaker forecasts. SEC Dismisses Lawsuit Against Binance The United States Securities and Exchange Commission (SEC) has dismissed its civil lawsuit against Binance, continuing its new approach to crypto since President Donald Trump assumed office. Lawyers for the SEC, Binance, and Binance founder Changpeng Zhao signed a joint stipulation of dismissal filed in the Washington DC federal court. The SEC stated that dismissing the enforcement case was appropriate in the exercise of its discretion and as a policy matter. However, it added that the action did not reflect its view on other cryptocurrency litigation. The dismissal with prejudice means the SEC cannot pursue the case again. A Binance spokesperson called the dismissal a landmark moment, stating, “We’re deeply grateful to (SEC) Chairman Paul Atkins and the Trump administration for recognizing that innovation can’t thrive under regulation by enforcement.” Binance was accused of artificially inflating trading volumes, diverting customer funds, and misleading investors about its surveillance tools. The exchange has also been accused of unlawfully facilitating the trading of several crypto tokens that the SEC leadership under the previous administration had classified as securities. Bitcoin (BTC) Price Analysis Bitcoin (BTC) dipped below $106,000 on Thursday as selling pressure intensified, with the price dropping over 2% to a low of $105,417 before registering a marginal recovery. Despite the substantial pullback, analysts believe sentiment around BTC will remain positive as long as the flagship cryptocurrency holds its position above $100,000. BTC has maintained its position above this level despite volatility and selling pressure. BTC had jumped to an intraday high of $108,944 early on Thursday as buyers thronged the market before losing momentum. Analysts are divided over BTC’s next course of action, with some calling it a healthy pause and others expressing concerns about growing selling pressure and a drop to $100,000. Some analysts anticipate a sideways move thanks to uncertainty about tariffs, but this cannot be interpreted as a bearish signal. “While the recent surge to over $111,000 was notable, the current price action suggests a phase of consolidation rather than an imminent breakout.” Analysts believe a consolidation phase could be healthy before BTC begins another significant upward move, with a pause in the rally giving the market time to gear up for the next phase of the bull run. Market watchers believe that BTC’s peak is still some way away and that Q3, historically a weak quarter for BTC, could surprise markets in 2025. However, some conservative analysts have expressed concerns about BTC’s immediate outlook, highlighting the emergence of an elevated market risk signal through the “Standardized 60-Day Realized Cap Volatility (RCV)” metric. The indicator is used to assess risk levels and recently crossed a critical historical threshold. However, if BTC can maintain its position above $105,000 and reclaim $110,000, it could become a robust base for another rally if momentum holds. BTC started the previous week in the red, falling to an intraday low of $102,135 before rebounding to reclaim $105,000 and settle at $105,572. The price recovered on Tuesday, rising 1.21% to $106,854. Bullish sentiment intensified on Wednesday as BTC rose nearly 3% to cross $109,000 and settle at $109,603. BTC raced to a new all-time high on Thursday, reaching $111,970 before registering a marginal decline and settling at $111,589. However, markets turned bearish on Friday, and BTC plunged almost 4% and settled at $107,356. Source: TradingView BTC recovered over the weekend, registering a marginal increase on Saturday and rising 1.16% on Sunday to reclaim $109,000 and settle at $109,103. The price registered a marginal rise on Monday but fell back in the red on Tuesday after facing selling pressure and volatility and settling at $108,954. Sellers retained control on Wednesday, with the price dropping 1.03% to $107,834. Bearish sentiment intensified on Thursday as BTC fell over 2%, slipping below the 20-day SMA and settling at $105,662. The current session sees BTC marginally down, trading around $105,000. If BTC dips below this level, it could drop to $100,000. On the other hand, if momentum returns, the flagship cryptocurrency could return above $110,000. Ethereum (ETH) Price Analysis Ethereum (ETH) extended its losses during the ongoing session, with the price marginally down after registering a drop of nearly 2% on Thursday after being rejected from $2,800 again. ETH is at a crucial point, with over $2.4 billion in ETH options set to expire on May 30 if the price holds above $2,600. This could support ETH’s attempt to reclaim $2,700 for the first time in nearly 3 months and break above the $2,800 level. ETH bulls will be highly motivated to keep the price above $2,600. However, limited network activity suggests the upside potential could be limited. Analysts believe ETH’s subdued performance is due to growing competition among blockchains focusing on decentralized applications. However, ETH holds a key advantage: It is the only altcoin with a spot ETF offering in the US. Ethereum ETFs attracted $287 million in net inflows between May 19 and May 27, indicating growing interest from institutional investors. ETH registered a significant drop on Monday (May 19) as it plunged to a low of $2,349. The price recovered from this level to register an increase of 1.18% and settle at $2,527. It registered a marginal decline on Tuesday but recovered on Wednesday, rising 1.10% to $2,550 despite volatility and selling pressure. Bullish sentiment intensified on Thursday as ETH rose over 4% to cross $2,600 and settle at $2,664. The price reached an intraday high of $2,731 on Friday as buyers attempted a move to $2,800. However, it lost momentum after reaching this level and fell over 5% to $2,527. Source: TradingView ETH recovered over the weekend, registering a marginal increase on Saturday before rising almost 1% on Sunday to settle at $2,551. The current week started positively, with the price increasing 0.49% to $2,564. Bullish sentiment intensified on Tuesday as ETH rose nearly 4% and settled at $2,662. The price continued to push higher on Wednesday, increasing almost 1% and settling at $2,683. ETH raced to an intraday high of $2,791 on Thursday but lost momentum after reaching this level and fell nearly 2% to $2,633. The current session sees ETH marginally down as sellers look to lower the price. ETH bulls will attempt to keep the price above $2,600 and build momentum to move towards $2,700. Solana (SOL) Price Analysis Solana (SOL) continued to descend as it slipped below $170 on Thursday and extended its losses during the ongoing session, falling to a low of $160 before rebounding to current levels. SOL faces renewed selling pressure, which could drag it below $160. SOL is facing immediate resistance around $170, a level it must reclaim to realize a move towards $180. SOL faced selling pressure on Monday (May 19), falling nearly 4% and settling at $166 after dropping to a low of $159. The price recovered on Tuesday, rising 1.05% to $168. Buyers retained control on Wednesday as SOL reclaimed $170 and settled at $173. Bullish sentiment intensified on Thursday as the price rose 3.52% and settled at $179. SOL raced to an intraday high of $187 on Friday but lost momentum after reaching this level. As a result, it dropped over 3% and settled at $173. Source: TradingView SOL rebounded on Saturday, rising 1.09% to settle at $175. However, it was back in the red on Sunday, registering a marginal decline and settling at $175. SOL remained bearish on Monday and settled at $174, but rebounded on Tuesday and moved to $176 after an increase of 1.03%. Selling pressure returned on Wednesday as the price fell 2.55%, slipping below the 20-day SMA and settling at $172. Sellers retained control on Thursday as SOL fell over 3% to $166. SOL fell to a low of $160 during the ongoing session but has rebounded to trade around $163, down nearly 2%. Celestia (TIA) Price Analysis Celestia (TIA) has registered high volatility and selling pressure after losing the $3 level on May 15. It started the previous week in the red, dropping 2.64% to a low of $2.51 before settling at $2.64. The price recovered on Tuesday, rising 1.51% to $2.68. However, TIA was back in the red Wednesday, dropping 1.04% after facing selling pressure and volatility. Despite the negative sentiment, TIA rebounded on Thursday, rising almost 7% to cross the 20 and 50-day SMAs and settle at $2.83. TIA raced to an intraday high of $3.07 on Friday. However, it lost momentum after reaching this level and plunged over 12%, slipping below the 20 and 50-day SMAs and settling at $2.48. Source: TradingView Despite the overwhelming selling pressure, TIA recovered over the weekend, rising 1.64% on Saturday and 1.29% on Sunday to settle at $2.56. Buyers retained control on Monday as the price reached an intraday high of $2.69 before settling at $2.59, ultimately registering an increase of 1.16%. TIA faced volatility and selling pressure on Tuesday but registered an increase of nearly 2% to $2.63. However, the price was back in the red on Wednesday, falling 1.21% to $2.60. Bearish sentiment intensified on Thursday as TIA fell over 4% despite rising to an intraday high of $2.70, ultimately settling at $2.50. The current session sees TIA down over 6%, trading around $2.34 as sellers look to drive the price below key support levels. Internet Computer (ICP) Price Analysis Internet Computer (ICP) registered a sharp drop on Monday (May 19) but made a strong recovery the following day, rising nearly 1% despite facing selling pressure and volatility and settling at $5.26. Buyers retained control on Wednesday as the price registered an increase of almost 2% and settled at $5.35. Bullish sentiment intensified on Thursday as ICP surged over 6% and settled at $5.69. However, it lost momentum on Friday, plunging over 8%, slipping below the 20-day SMA and settling at $5.22. Source: TradingView Price action remained bearish on Saturday as ICP fell 0.57% to $5.19. The price dropped to an intraday low of $5.01 on Sunday before rebounding to register an increase of 1.35% and settle at $5.26. ICP started the current week in the red, dropping 0.76% on Monday. However, it recovered on Tuesday, rising over 2% to $5.33. The price fell to an intraday low of $5.19 on Wednesday before rebounding to register an increase of 2.06% and settling at $5.44. The price lost momentum on Thursday, falling 3.31% to 5.26. Bearish sentiment has intensified during the ongoing session, with the price down over 3%, trading below the 50-day SMA at $5.08. Filecoin (FIL) Price Analysis Filecoin (FIL) has seen considerable selling pressure over the past few sessions, with the price dipping below key support levels and moving averages. FIL plunged to an intraday low of $2.73 on Monday (May 19) and settled at $2.86. The price faced volatility on Tuesday before ultimately registering a marginal decline. Despite selling pressure and volatility, FIL recovered on Wednesday, rising over 3% to cross the 20-day SMA and settle at $2.95. Bullish sentiment persisted on Thursday as FIL registered an increase of nearly 5% to cross $3 and settle at $3.09. However, it lost momentum on Friday as selling pressure returned and dropped over 8%, slipping below $3 and the 20-day SMA and settling at $2.83. Source: TradingView Price action remained bearish over the weekend as FIL dropped 0.42% on Saturday and 0.47% on Sunday to settle at $2.80. FIL started the current week in the red, dropping almost 1% to $2.79. The price rebounded on Tuesday, rising 3.20% to $2.87. However, it lost momentum on Wednesday, falling to a low of $2.76 before settling at $2.85, ultimately registering a marginal drop of 0.79%. Selling pressure intensified on Thursday as the price fell over 3% to $2.76. Price action remains bearish in the ongoing session, with FIL down 4.42%, trading around $2.64 after recovering from an intraday low of $2.56. 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