$BTC The cryptocurrency market on May 17, 2025, recorded many mixed fluctuations. The overall market capitalization saw slight growth, indicating a positive sentiment in the air. The Fear and Greed Index is at 'greed', however, the Altcoin Season Index shows Bitcoin's dominance in the market.
Bitcoin (BTC), the largest cryptocurrency in the world, continues to maintain growth momentum as it surpasses the 104,000 USDT mark and is consolidating around this price level, recording modest gains in the past 24 hours. Technical analysts are closely monitoring the critical resistance level at 105,000 USD, warning of the potential for significant price fluctuations if this level is breached or holds steady. Margin trading with high leverage is also increasing, reflecting expectations of strong market volatility in the near future.
However, the altcoin picture has many different shades. Many large altcoins have mixed performance. While some smaller market cap altcoins have recorded impressive growth, such as SYRUP, ACM, and VOXEL, indicating that capital is shifting and concentrating on specific projects deemed to have potential.
Notably, Pi Network, a cryptocurrency project that has attracted the interest of many users in Vietnam, witnessed a sharp price drop of 27.6% in just one day, despite information about the launch of a $100 million support fund. This development has raised many concerns for the Pi Network community and sparked speculation about instability and potential price manipulation.
In addition, the market is also paying attention to XRP after this currency's futures contracts were listed on CME and speculation about the launch of related ETF funds. Alongside this, interest is also directed towards emerging Layer 1 projects such as Kaanch Network, which is expected to provide attractive investment opportunities as the market seeks projects with breakthrough technology and applications.
