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#Here’s the latest Binance and crypto market news as of May 8, 2025, along with visual resources to keep you updated:
📈 Market Highlights
Bitcoin Surges Past $98K Bitcoin (BTC) has climbed above $98,000, marking a 0.79% increase in the past 24 hours. This upward momentum follows the Federal Reserve's decision to keep interest rates steady on May 7, fueling optimism among traders.
Analysts Predict Potential Rally Despite the Fed's unchanged rates, macroeconomic factors and increased liquidity injections are contributing to bullish sentiments, with projections suggesting Bitcoin could approach the $100,000 mark.
Critical Support Level Identified Bitfinex analysts emphasize the importance of Bitcoin maintaining support above $95,000 to avoid a short-term correction, indicating this level as pivotal for continued upward movement. #MarketHighlights #Market_Update
Market Overview The global crypto market cap is $2.99T, showing a 2.47% increase over the last day. The top cryptocurrencies by market cap are: - *Bitcoin (BTC)*: $97,000.45, up 2.97% in the last 24 hours - *Ethereum (ETH)*: $1,823.47, up 3.32% in the last 24 hours - *Tether (USDT)*: $1.00, stable
Top Gainers Some of the top gainers in the crypto market include ¹: - *Solana (SOL)*: $145.93, up 2.52% in the last 24 hours - *Binance Coin (BNB)*: $602.42, up 0.86% in the last 24 hours - *Cardano (ADA)*: $0.6687, up 3.15% in the last 24 hours.
The cryptocurrency market is experiencing a strong downturn today, with the global market capitalization shrinking to $3.26 trillion after a 3.76% drop in the past 24 hours. Trading volume, however, has increased by 3.72%, reflecting growing market activity amid selling pressure. The Fear & Greed Index has dropped to 35, signaling a shift towards fear-driven sentiment as traders react to the downturn.