Here’s a comprehensive overview of today’s key developments in the cryptocurrency market (May 8, 2025):
1. Bitcoin Nears $100K Amid Fed Rate DecisionBitcoin Price Surge: BTC briefly surpassed $97,500 and is hovering around $96,500–98,600, driven by the U.S. Federal Reserve’s decision to maintain interest rates at 4.25–4.5% for the third consecutive meeting. Analysts suggest the Fed’s cautious stance on inflation and potential rate cuts later in 2025 are fueling bullish sentiment .
Whale Activity: A prominent whale purchased 100 BTC (~$9.78 million)at $97,800, signaling renewed confidence after months of dormancy. This accumulation aligns with Bitcoin’s 5.2% 24-hour rally and hints at bullish momentum .
ETF Inflows: U.S. Bitcoin ETFs saw $105 million inflowsnpost-Fed announcement, reversing Tuesday’s outflows .
2. Altcoins Rally on Staking and Macro Trends
Staking Tokens Gain Traction: Solana (SOL), SUI, and Alpaca Finance led the charge as investors shifted toward staking protocols amid low yields on traditional USD assets. SUI’s 24-hour trading volume hit $1.7 billion surpassing Dogecoin and Cardano .
Top Performers
MOG+38% to $0.068965.
EOS: +18% to $0.8213.
KAITO: +26% to $1.42 .
Ethereum’s Pectra Upgrade: The network activated its largest upgrade since the Merge, enhancing Layer-2 scalability, smart wallet support, and validator efficiency. ETH traded at $1,815–1,84, up ~1%
3. Macroeconomic and Regulatory Developments
Fed’s Inflation Concerns: Chair Jerome Powell acknowledged risks from Trump’s tariffs, which could slow growth and complicate rate decisions. Markets now price in potential rate cuts by Q2 2025
Crypto.com Expands in U.S.The exchange announced a new Washington, D.C., office to strengthen regulatory engagement, reflecting the industry’s focus on compliance .
4. Market Sentiment and Liquidity Trend
Stablecoin Accumulation: A global trading engine rapidly acquired USDT and USDC, signaling potential large-scale market moves. Stablecoin trading volumes rose 12% to $60 billion, hinting at increased
