The global cryptocurrency market experienced a mixed day on May 5, with Bitcoin (BTC)$BTC falling below the key $95,000 level. At the time of writing, BTC was trading at $94,416.80, down by 1.63% over the last 24 hours, according to CoinMarketCap. In Indian markets, BTC stood at approximately ₹79.69 lakh.
Among altcoins, Ethereum (ETH)$ETH also declined, falling 2.10% to $1,805.31. Dogecoin (DOGE) dropped by 1.79% and is now priced at $0.1725. Litecoin (LTC) was one of the few top assets to post gains, rising 1.52% to $87.69.
Solana (SOL)$SOL held steady with a slight increase of 0.11%, reaching $146.42, while Ripple (xrp) saw a decline of 1.94% to $2.16. The overall crypto market capitalization dropped by 1.30%, currently standing at $2.94 trillion. The Fear & Greed Index remains neutral at 49.
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Top 5 Gainers (Last 24 Hours):
1. Core (CORE) – $0.7697 | +12.17%
2. Walrus (WAL) – $0.5901 | +11.01%
3. Flare (FLR) – $0.0201 | +7.85%
4. Pudgy Penguins (PENGU) – $0.01081 | +7.53%
5. Bonk (BONK) – $0.00001722 | +5.43%
Top 5 Losers (Last 24 Hours):
1. Ethereum Name Service (ENS) – $17.73 | -8.20%
2. Sonic (S) – $0.5216 | -4.04%
3. Kaia (KAIA) – $0.1127 | -3.72%
4. Artificial Superintelligence Alliance (FET) – $0.661 | -3.56%
5. BitTorrent (BTT) – $0.0000007112 | -3.50%
What Analysts Are Saying
Market participants are cautiously observing macroeconomic cues, especially ahead of the U.S. Federal Reserve’s interest rate decision. Alankar Saxena, CTO of Mudrex, noted that Bitcoin's on-chain activity remains strong, with over 925,000 active addresses recorded in a day — the highest in six months. Resistance is currently observed near $97,900, with support at $92,000.
According to Pi42’s Avinash Shekhar, Bitcoin's rejection near $98,000 highlights strong resistance at the $100K level. While long-term fundamentals remain intact, short-term volatility is expected.
CoinSwitch pointed to investor optimism driven by ongoing U.S.-China trade discussions and institutional demand, while Unocoin’s Sathvik Vishwanath attributed bullish pressure to post-halving momentum and low exchange supply.
Overall, the market appears to be in a consolidation phase, with a potential breakout depending on broader economic sentiment and institutional inflows.
