Crypto Market Update – May 5, 2025
The cryptocurrency market continues to show strong momentum. $BTC is trading around $95,400, nearing critical resistance at $98,000, signaling a potential breakout. Supporting this bullish sentiment, the iShares Bitcoin Trust ETF (NASDAQ: IBIT) rose 14.3% in April, reflecting growing investor confidence in institutional crypto exposure.
On the flip side, $XRP is under pressure. Bearish sentiment dominates its derivatives market, with a rising number of short positions pushing the token toward a possible drop below $2.05.
Despite the mixed signals, institutional activity is heating up — crypto funds attracted $2 billion in inflows just last week, bringing the three-week total to $5.5 billion, with Bitcoin leading the charge.
The market remains volatile, but resilience is clear as institutional capital continues to flow in.
