Crypto Price Analysis 5-20: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, CELESTIA: TIA, ARBITRUM: ARB, BITTENSOR: TAO

The crypto market has rallied during early trading hours today as Bitcoin (BTC) surged past $105,000, sparking a $250 billion marketwide rally. The flagship cryptocurrency started the week in the doldrums, falling to an intraday low of $102,145 on Monday. However, it rebounded late during the day to recoup some losses and settle at $105,573. BTC briefly pushed above $106,000 during the ongoing session before declining to its current levels. Despite the drop during the ongoing session, BTC is up over 2% in the past 24 hours. Meanwhile, Ethereum (ETH) bounced back, registering an increase of nearly 7% to reclaim $2,500 and move to its current level of $2,551. Ripple (XRP) registered an increase of 1%, while Solana (SOL) is up nearly 2% and is on the verge of reclaiming $170. Dogecoin (DOGE) is up over 2%, and Cardano (ADA) is up nearly 2%, trading at $0.740. Chainlink (LINK) , Stellar (XLM) , Hedera (HBAR) , Toncoin (TON) , Litecoin (LTC) , and Polkadot (DOT) also registered notable increases. As a result, the crypto market cap increased by over 2% to $3.34 trillion. India’s Supreme Court Asks Why Crypto Trading Can’t Be Regulated The Supreme Court of India has questioned the government’s inaction in regulating cryptocurrencies in the country. The court stated that the absence of a clear legal framework creates a fertile ground for misuse. The remarks were made by a bench comprising Justices Surya Kant and N Kotiswar Singh while hearing a bail petition filed by Gujarat resident Shailesh Babulal Bhatt, accused of crypto-related fraud across multiple states. The bench expressed its concern over the lack of regulation in the crypto sector, stating, “Nobody is saying to stop it since you said earlier that cryptocurrency is not illegal and banning it will not be wise for the economy. Banning may be shutting your eyes to the ground reality. But what about regulating it.” Ripple Could Boost Crypto Adoption In The UAE Ripple has launched a blockchain-based cross-border payments system in the UAE. The payments system was launched in collaboration with Zand Bank and Mamo, a fintech company offering digital payment services. According to a May 19 announcement, Zand Bank and Mamo will use Ripple payments to facilitate cross-border transactions. The launch comes after Ripple secured a crypto payments license from the Dubai Financial Services Authority. The UAE is at the vanguard of crypto adoption, especially decentralized finance and stablecoins. UAE also plans to create a digital Dirham, a version of a central bank digital currency (CBDC). US Stocks Flat After US Ratings Downgrade US stocks traded flat on Monday as investors reacted to the US losing the last of its AAA credit rating. Additionally, US lawmakers advanced a tax bill expected to add to federal deficits significantly. The S&P 500 registered a marginal increase, while the Nasdaq Composite registered a 0.01% increase. The Dow Jones Industrial Average registered a 0.03% increase thanks largely to a rebound in UnitedHealth Group shares. Moody’s downgraded the US to AA1, citing persistent, large-scale deficits and significantly higher interest costs. The move came after the House Budget Committee approved a tax-and-spending plan from President Trump that would extend cuts and boost spending. SEC Playing Regulatory Jenga With Crypto: Crenshaw The Securities and Exchange Commission (SEC)’s sole Democratic commissioner has criticized the agency, accusing it of “playing a game of regulatory jenga” with its approach to crypto regulation under the Trump administration. Commissioner Crenshaw criticized the dismantling of discrete but interrelated rules on crypto and the broader market. She compared market stability to a Jenga tower, stating that the agency’s rules had been carefully developed over the years and could collapse if some rules were removed or changed. She also criticized the loss of SEC staff, adding that the agency used staff guidance to effectively reverse rules without proper analysis or public comments. “Our statements on these crypto-related issues are the equivalent of a wink and nod intended to convey that we do not plan to rigorously apply our laws in certain, specific situations.” Crenshaw also stated that the agency had abandoned enforcement action in the crypto market, creating what she describes as “regulation by non-enforcement.” Circle Considering Sale Amid IPO Circle is exploring the probability of a potential acquisition by Ripple or Coinbase while simultaneously preparing for its planned initial public offering. According to a report by Fortune, the company is reportedly seeking a $5 billion valuation either through public markets or acquisition. According to market watchers, Coinbase is the likeliest buyer. Both companies co-founded the Centre Consortium in 2018 to issue the USDC stablecoin and still share revenue from reserve interest. Ripple is also interested in acquiring Circle, and had reportedly made an offer between $4 billion and $5 billion, which was rejected. Ripple could leverage its XRP reserves to fund a deal. However, Coinbase, which holds $8 billion in cash and can raise more capital has emerged as the stronger candidate to complete an acquisition. Coinbase CEO Brian Armstrong has clarified that Circle’s IPO will not impact their commercial ties. However, he hinted the company was open to future deals. Bitcoin (BTC) Price Analysis Bitcoin (BTC) has had an eventful start to the week, rising over 3% on Sunday before collapsing to a low of $102,145 on Monday. However, it rebounded from this level to settle at $105,573 after briefly climbing to an intraday high of $017,111. The flagship cryptocurrency briefly rose above $106,000 during the ongoing session before experiencing another pullback. BTC still faces resistance around $106,000 but remains in a strong position overall, having posted significant gains during previous sessions, which helped it reclaim $100,000 on May 8. BTC has been consolidating above $103,000 since the previous weekend, briefly rising above $105,000 on Monday. According to analysts, BTC’s brief jump above $106,000 highlights strong fundamentals and a bullish tilt despite selling pressure at higher levels. Riya Sehgal, Research Analyst at Delta Exchange, stated, “The break above key support levels and targeting the resistance zone near $107,500 suggest a strong potential for a new all-time high, driven by healthier market dynamics rather than speculative excess. Institutional interest remains a key catalyst, as evidenced by JPMorgan’s recent announcement to offer Bitcoin access via spot ETFs, a significant endorsement from a major traditional finance player following Morgan Stanley’s similar moves.” CryptoQuant analyst Avocado Onchain highlighted a shift in BTC’s behavior around key price milestones. The analyst noted that BTC’s price surges were accompanied by steep rises in Binance’s market buy volumes and funding rates, which signaled overheated conditions. Such conditions resulted in short-term corrections as traders locked in profits. However, the current rebound is different, with funding rates on Binance stable while market buy volumes are trending downwards. BTC’s price action was muted most of last week after the May 8 rally. The price registered a marginal decline on Friday before rising nearly 2% on Saturday to reclaim $104,000 and settle at $104,617. However, it was back in the red on Sunday, dropping almost 1% and ending the weekend at $103,802. BTC encountered volatility on Monday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as the price registered a drop of 1.04% and settled at $102,728. BTC rebounded on Tuesday, rising 1.36% to reclaim $104,000 and settle at $104,123, but fell back on Wednesday, registering a marginal decline and settling at $103,568. Source: TradingView BTC plunged to an intraday low of $101,459 on Thursday as selling pressure intensified. However, it rebounded from this level to register a marginal increase and settle at $103,816. Price action turned bearish on Friday and Saturday as the price registered marginal declines and settled at $103,235. Price action turned bullish on Sunday as BTC rallied over 3% to cross $106,000 and settle at $106,479. However, it lost momentum on Monday and fell to a low of $102,145 before rebounding to reclaim $105,000 and settle at $105,573. The current session sees BTC down nearly 1% as it faces selling pressure at higher levels. Ethereum (ETH) Price Analysis Ethereum (ETH) has experienced considerable volatility since Sunday as buyers and sellers struggle to gain the upper hand. Despite the volatility, the price has reclaimed the $2,500 level despite dropping to lows under $2,400 on Sunday and Monday. Santiment data has revealed that ETH exchange supply has plummeted to 4.9%, its lowest ever, indicating a shift towards long-term holding and decentralized storage. Over the last 30 days, over 1 million ETH have been moved off centralized exchanges. Analysts believe this could reduce selling pressure and set ETH up for a substantial price jump. ETH has registered a staggering increase of nearly 60% over the past month. ETH started the previous weekend on a bullish note, rising to an intraday high of $2,489 on Friday before settling at $2,345. Buyers retained control on Saturday as the price registered an increase of over 10% to cross $2,500 and settle at $2,585. However, it lost momentum on Sunday, dropping nearly 3% to settle at $2,514. ETH encountered selling pressure and volatility on Monday, falling to an intraday low of $2,408 and rising to an intraday high of $2,623 before ultimately settling at $2,496 after a marginal decline. The price rebounded on Tuesday, rising over 7%, surging past $2,600 and settling at $2,681. Source: TradingView However, ETH lost momentum after reaching this level, dropping nearly 3% on Wednesday and settling at $2,610. Bearish sentiment persisted on Thursday as the price fell 2.38%, slipping below $2,600 and settling at $2,548. ETH attempted a recovery on Friday, reaching an intraday high of $2,648. However, it lost momentum after reaching this level and ultimately settled at $2,537 after a marginal decline. Sellers retained control on Saturday as the price fell 2.44%, slipping below $2,500 and settling at $2,475. ETH encountered volatility on Sunday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as the price registered an increase of nearly 1% and settled at $2,498. The price plunged to an intraday low of $2,349 on Monday as selling pressure intensified. However, it rebounded from this level to register an increase of 1.19% to reclaim $2,500 and settle at $2,527. The current session sees ETH marginally up, trading around $2,534. Solana (SOL) Price Analysis Solana (SOL) is attempting to regain momentum after plunging to a low of $159 on Monday. However, it faces resistance around $175 as buyers struggle to build momentum. SOL’s price action was mixed last weekend as it registered an increase of over 5% on Friday to cross $170 and settle at $172. Buyers retained control on Saturday, and SOL moved to $177 before losing momentum on Sunday and dropping to $173. The price faced volatility on Monday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as SOL rose 0.60% and settled at $174. Bullish sentiment intensified on Tuesday as the price rose 5.50%, crossing $180 and settling at $183. Source: TradingView Despite the positive sentiment, SOL lost momentum on Wednesday, dropping nearly 4%, slipping below $180 and the 200-day SMA and settling at $176. Bearish sentiment persisted on Thursday as the price dropped over 4%, slipping below $170 and settling at $169. Price action remained bearish on Friday and Saturday, falling 0.98% and 0.89% to settle at $165. Despite overwhelming selling pressure, SOL rebounded on Sunday, rising 4.45% to reclaim $170 and settle at $173. However, the price plunged to an intraday low of $159 on Monday as selling pressure increased. It rebounded from this level to reclaim $160 and settle at $166, ultimately registering a drop of 3.77%. SOL is marginally up during the ongoing session, dropping from an intraday high of $173 to its current level of $167. A bearish MACD suggests sellers have the upper hand. If sellers regain control, the price could slip below $160. Celestia (TIA) Price Analysis Celestia (TIA) registered a significant decline last week, plunging below $3 and the 50-day SMA as selling pressure peaked. TIA started the previous weekend on a bullish note, surging over 11% on Friday and nearly 10% on Saturday to cross $3 and settle at $3.34. The price lost momentum on Sunday, dropping over 4% and settling at $3.20, but not before dropping to an intraday low of $3.20. TIA encountered volatility on Monday, rising to an intraday high of $3.36 and falling to an intraday low of $3.01 before settling at $3.16, ultimately registering a drop of 1.16%. The price fell to $2.96 on Tuesday as selling pressure intensified. However, it rebounded from this level, rising nearly 5% to settle at $3.31. Source: TradingView TIA lost momentum on Wednesday, allowing sellers to take over. As a result, the price dropped nearly 8% and settled at $3.05. Selling pressure intensified on Thursday as TIA plunged almost 10%, slipping below $3 and the 20-day SMA and settling at $2.76. Sellers retained control on Friday as the price fell 3.27%, falling below the 50-day SMA and settling at $2.66. TIA continued to decline on Saturday, dropping 3.41% and settling at $2.57. Despite the overwhelming bearish sentiment, the price rebounded on Sunday, rising over 5%, crossing the 50-day SMA and settling at $2.71. TIA started the week on a bearish note, plunging to an intraday low of $2.51 before rebounding and settling at $2.64. The current session sees the price down nearly 2%, trading at $2.59. Arbitrum (ARB) Price Analysis Arbitrum (ARB) registered a stunning increase of nearly 28% on Saturday, surging to $0.484. However, it lost momentum after reaching this level, fell almost 7%, and settled at $0.451. The price attempted a recovery on Monday but lost momentum, dropping 4.57% and settling at $0,430. ARB plunged to an intraday low of $0.406 on Tuesday as selling pressure intensified. It rebounded from this level to register an increase of 6.18% and settle at $0.457. Source: TradingView Sellers regained control on Wednesday as the price plunged nearly 7% and settled at $0.426. The price continued to drop on Thursday, falling 6.66%, slipping below $0.40, and settling at $0.398. Price action remained bearish on Friday and Saturday as ARB registered a drop of 2.11% and 3.51% to settle at $0.376. Despite the overwhelming selling pressure, ARB rebounded on Monday, rising over 5% and settling at $0.393. ARB plunged to an intraday low of $0.362 on Monday as selling pressure intensified. However, it rebounded from this level to settle at $0.392, ultimately registering a marginal decline. The current session saw ARB down by over 1% and trading at around $0.386. Bittensor (TAO) Price Analysis Bittensor (TAO) rose nearly 8% on Saturday and settled at $464 as buyers attempted a move toward $500. However, price action turned bearish on Sunday as TAO fell to an intraday low of $439 before settling at $458. TAO faced volatility on Monday as buyers and sellers attempted to establish control. Sellers ultimately gained the upper hand as the price registered a marginal drop and settled at $456. TAO rebounded on Tuesday, rising 1.26% to $462, but fell back in the red on Wednesday, dropping 1.37% and settling at $455. Source: TradingView Bearish sentiment intensified on Thursday as TAO plunged to an intraday low of $418 before settling at $435, ultimately registering a drop of 4.42%. Sellers retained control on Friday as the price fell over 2% and settled at $425. TAO registered a marginal decline on Saturday but encountered volatility on Sunday, rising to an intraday high of $440 and falling to an intraday low of $397 before settling at $425, ultimately registering a marginal increase. TAO started the week on a bearish note, dropping to a low of $387 before recovering to reclaim $400 and settle at $411. The current session sees the price up 1.34% and trading around $417. 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