Main tokens such as Dogecoin (Doge), Cardano (ADA), and Solana (SOL) have slipped over 5% in the past 24 hours while entrepreneurs have moved to lock some revenues after a strong weekly rally.
The broader crypto market moved alongside the risk assets last week, which was —fuel through the macroeconomic tailwinds and that -renewed investor optimism, but the signs were emerging that some extremely hot segments may be due to a pause.
“Bitcoin is walking around $ 104,000 levels for the sixth day, experiencing an increase in spin,” Alex Kuptsevich of FXPRO told CoinDesk in an email. “This is a highly expected behavior as we approach all the time highs of December and January, which serves as turning points.”
“Ether traded around $ 2615, which failed to combine above the $ 2700 mark, around which the 200-day transfer of average also passed. Probably after ralling 55% over the past seven days, the second largest capitalized cryptocurrency could pause or start a correction with a potential target in $ 2400,” Kuptsikvich’s target. “
Sentiment indicators also reflect the growing excessive enlargement, along with the Crypto Fear & Greed Index that touches 73, approaching levels commonly associated with excessive heat conditions, As mentioned Tuesday.
Earlier on Sunday, the appetite appeared after a combination of positive US inflation data, strong income from the China Tech sector, and a breakthrough in the US -China trade has strengthened global equity markets. Crypto followed, along with Bitcoin at a brief top of $ 104,000 and Ether up to $ 2,700 – before the same resistance was running.
“China’s tech sector revenues have climbed the announcement of the US-China trade deal, leading investors to hope for increasing investments and innovations such as AI last year,” Hiyang Ru, co-Co of the Hashkey Exchange Business Group, said in a telegram message.
“In addition, a monthly report revealed that US inflation is lower than expected, increasing more fuel for a continuous bull running in the markets,” Ru said.
However, institutional activity remains stable. Santiment data from earlier this week showed mid-sized Bitcoin holders, or dompets with 10 to 10,000 BTCs, accumulated more than 83,000 BTC last month.
🐳🦈 Bitcoin’s Key Whale & Shark Tier (holding 10-10k BTC) has now accumulated 83,105 more BTC in the past 30 days. Meanwhile, the smallest retail holder (holding <0.1 BTC) threw 387 BTC over the same period of time.
For both tiers, these are significant movements associated with… pic.twitter.com/xg5FMF57GQ
– SANTIMENT (@santimentfeed) May 13, 2025
Meanwhile, Coinbase’s upcoming inclusion in the S&P 500 on May 19 was viewed as a short -term catalyst for the sector, with some analysts estimating the demand passive fund for stock could raise $ 9 billion.
“We believe that there is an additional room for digital properties to rally, especially as Coinbase’s joint in the S&P 500 on 19 may be closer,” Singapore-based QCP Capital said at a Telegram broadcast on Wednesday.
“History tells us that index integrations tend to act as a short -term catalyst, as passive managers adjust their allocations to monitor the benchmark closer,” the fund mentioned.
