Crypto Update for May 5, 2025

The cryptocurrency market has shown significant activity recently. Bitcoin's price is hovering around $95,400, reflecting a strong performance as it approaches key resistance levels near $98,000. In April, the iShares Bitcoin Trust ETF (NASDAQ: IBIT) rallied by 14.3%, mirroring Bitcoin's upward trend and attracting investor interest in traditional custodial entities for crypto investments[1].

In addition, $XRP continues to face bearish pressure with short sellers dominating the derivatives market. Current discussions indicate a potential decline below the $2.05 mark due to increased short positions[2]. Meanwhile, overall crypto funds have seen inflows of approximately $2 billion last week alone, contributing to a three-week total of $5.5 billion, with Bitcoin leading these gains[3].

Overall, the market remains volatile but shows signs of resilience as institutional interest grows.

Authoritative Sources

Shares of the Bitcoin-focused exchange traded fund iShares Bitcoin Trust ETF rallied 14.3% in April. [Yahoo Finance]↩

$XRP continues to face bearish pressure as short positions dominate the derivatives market. [Crypto News]↩

Crypto funds raked in $2B last week, pushing 3-week haul to $5.5B with Bitcoin leading gains. [Cointelegraph]↩

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