Daily Cryptocurrency Market Summary – May 4, 2025

The first weekend of May 2025 finds the cryptocurrency market in a state of high anticipation and bullish momentum. Bitcoin is once again the headline act, inching ever closer to the symbolic $100,000 mark, while altcoins and the broader digital asset sector ride a wave of optimism powered by institutional inflows, regulatory developments, and a calendar packed with pivotal events.

Market Overview: Bullish Surge Continues

The crypto market has added roughly $300 billion in market capitalization over the past two weeks, with Bitcoin leading the charge. As of this morning, BTC is trading above $96,500, having briefly surpassed Google’s market cap to become the world’s fifth most valuable financial asset. This rally is not isolated: Ethereum holds steady above $1,800, and Solana is maintaining support above $150, both benefiting from renewed investor confidence and robust buying activity.

Technical indicators for Bitcoin remain positive. The price sits comfortably above major moving averages, including the 200-day, and the Relative Strength Index (RSI) is in a healthy range, suggesting there is room for further gains. The critical resistance zone for BTC is now $95,000–$95,500. If bulls can push through, analysts believe a surge to $100,000 and beyond is possible, especially as futures funding rates remain neutral or slightly negative, indicating the rally is not overly leveraged.

Key Trends and Developments

Institutional Inflows & ETF Momentum: The ongoing surge in Bitcoin ETF inflows has been a major catalyst this week. Institutional adoption continues to rise, with more funds and asset managers allocating to BTC and ETH, reinforcing the narrative of crypto as a mainstream asset class.
Macroeconomic Tailwinds: Recent economic data from the US, including a contraction in GDP and weaker job numbers, have increased expectations for a Federal Reserve rate cut in June. This dovish outlook is fueling risk-on sentiment, benefiting digital assets.
Regulatory Shifts: The crypto industry is closely watching both US and Canadian regulatory developments. President Trump’s pro-crypto stance, expected to be reiterated in his upcoming 100-day address, is boosting hopes for more favorable US policy. Meanwhile, Canada’s evolving regulatory landscape is also under the spotlight, with potential implications for North American crypto markets.
Altcoin Activity: Several altcoins are outperforming, with New XAI Gork (GORK) up over 140% in the past 24 hours, and projects like Vanar Chain (VANRY), Virtuals Protocol (VIRTUAL), and Sui (SUI) also trending. Solana-based NFTs, especially Bitcoin-inspired digital art, are seeing a surge in popularity and trading volume.

Notable Events on the Calendar for May 4, 2025

Today is relatively quiet compared to the flurry of activity earlier in the week, but the broader context remains highly eventful:

Token Unlocks: The market is still digesting the impact of major token unlocks from SUI and ENA earlier this week, which have added to volatility and liquidity in DeFi markets.
Sui Foundation’s Basecamp 2025: The Sui Foundation is wrapping up its Basecamp 2025 conference in Dubai, where developers and investors are discussing the future of the Sui ecosystem and broader blockchain innovation.
Solana NFT Growth: Solana’s NFT ecosystem is experiencing a fresh wave of activity, with new collections and Bitcoin-themed digital art gaining traction.
Macro Events: Investors are watching for follow-up commentary from central banks after the Bank of Japan’s rate decision and the US Federal Reserve’s balance sheet update earlier this week, both of which continue to influence global risk appetite.

What to Watch for Today

Market Reaction to Recent Data: With the US jobs report and nonfarm payrolls released on May 2, today’s trading will reveal how much these macro signals continue to shape crypto sentiment.
Altcoin Volatility: Watch for continued volatility in trending tokens like GORK, VANRY, and VIRTUAL, as speculative activity remains high.
Community Events: The Sui Basecamp conference in Dubai may yield partnership announcements or technical updates worth monitoring.
NFT Drops: Keep an eye on Solana and Ethereum NFT marketplaces for new launches and trending collections.

Looking Ahead: The Rest of May

May is shaping up to be a pivotal month for crypto, with several high-stakes events on the horizon:

Ethereum’s anticipated Pectra upgrade is expected later this month, potentially impacting DeFi and Layer 2 activity.
Major token unlocks from APT, LAYER, and ENA could add market pressure.
Key earnings calls from Microsoft and Google, and a crucial SEC hearing, will intersect with crypto narratives and regulatory sentiment.

Conclusion

The crypto market enters May 4, 2025, with bullish momentum, driven by institutional inflows, macroeconomic shifts, and a calendar full of consequential events. Bitcoin’s approach to $100,000 is capturing headlines, but the action is broad-based, with altcoins, NFTs, and DeFi all contributing to a vibrant, high-volatility environment. Investors should remain alert to both market-moving news and the potential for sudden shifts as the month unfolds.