Market Roars Back on May 8th, 2025
The cryptocurrency market witnessed a significant resurgence on May 8th, 2025, with Bitcoin breaking past the $100,000 mark for the first time since February. This rally, fueled by renewed investor confidence and a broader "risk-on" sentiment in global markets, saw Bitcoin reach highs of $104,000 before settling around $102,700.
Ethereum also experienced a substantial surge, jumping over 22% to surpass $2,200. This impressive gain was attributed to a major technical breakout and positive network fundamentals, including a significant rise in Total Value Locked (TVL) and the recent Pectra update.
Other major cryptocurrencies, including XRP, Binance Coin (BNB), Solana (SOL), and Dogecoin (DOGE), followed suit, posting notable gains. The overall market capitalization saw a significant increase, reflecting a strong recovery and renewed bullish momentum across the crypto space. Analysts point to factors such as easing trade tensions and increasing institutional adoption as drivers for this comeback.
