Crypto Update for May 5, 2025

The cryptocurrency market has shown significant activity recently. $BTC Bitcoin's price is hovering around $95,400, reflecting a strong performance as it approaches key resistance levels near $98,000. In April, the iShares Bitcoin Trust ETF (NASDAQ: IBIT) rallied by 14.3%, mirroring Bitcoin's upward trend and attracting investor interest in traditional custodial entities for crypto investments[1].

In addition, $XRP continues to face bearish pressure with short sellers dominating the derivatives market. Current discussions indicate a potential decline below the $2.05 mark due to increased short positions[2]. Meanwhile, overall crypto funds have seen inflows of approximately $2 billion last week alone, contributing to a three-week total of $5.5 billion, with Bitcoin leading these gains[3].

Overall, the market remains volatile but shows signs of resilience as institutional interest grows#BitcoinReserveDeadline $BTC