Bitcoin Surges Past $107,500, Nears All-Time High; Ethereum Remains Steady at $2,550

Economic Times – May 21, 2025
Bitcoin has recently surged past the $107,500 mark, coming within a striking 2% of its all-time high. This remarkable uptrend is attributed to bullish market sentiment and an influx of institutional investments, alongside increased trading activity in Bitcoin futures. In addition, Ethereum has shown resilience, trading at approximately $2,550. ### Market Highlights

As of 11:07 AM IST, Bitcoin was trading at $107,647, marking a 1.3% increase. Meanwhile, Ethereum gained 0.9%, rising to $2,589. In a notable shift, the global cryptocurrency market capitalization increased by 1%, reaching $3.4 trillion. As reported by CoinSwitch, the rise in Bitcoin’s value represents its highest level since January, buoyed by a substantial 10.65% increase in Bitcoin futures open interest, which now totals $74.35 billion. Notably, Binance accounted for $12.28 billion of this interest.

The U.S. spot Bitcoin exchange-traded funds (ETFs) also recorded impressive net inflows of $41.7 million on Tuesday, extending a positive streak that has lasted five consecutive days.

Expert Commentary

Sathvik Vishwanath, Co-Founder and CEO of Unocoin, remarked on Bitcoin’s current trading range, indicating strong support around $98,000 and key resistance at $109,500. He noted that if Bitcoin can breach the latter, the next target could extend to $112,000. Vishwanath also highlighted on-chain data reflecting consistent accumulation by major holders, while favorable funding rates suggest a cautious long bias among traders.

Ethereum has been performing exceptionally well over the last month, up nearly 60%. Riya Sehgal, a Research Analyst at Delta Exchange, pointed out that Ethereum is approaching a crucial psychological resistance at $2,500. She acknowledged that while structural indicators remain bullish, recent profit-taking activities and heightened trading volumes may pave the way for short-term consolidation.

Altcoin Performance

Alongside Bitcoin and Ethereum’s performance, other altcoins have seen positive movements. BNB recorded a 1.4% gain, while Solana rose 0.8%, and Dogecoin saw an increase of 2.4%. Other notable performers included Cardano with a 2% rise, as well as Avalanche, Stellar, and Shiba Inu, each gaining around 1%.

Despite the notable price increases for major cryptocurrencies, daily trading volumes experienced a decline of 10%, settling at $51.19 billion. This decrease indicates a potential cooling in trading activity, following the recent price surges.

Conclusion

The current dynamics in the cryptocurrency market are reflective of a cautiously optimistic sentiment among traders and investors. With Bitcoin nearing its all-time high and Ethereum demonstrating strong performance, market participants will be closely watching these developments in the days to come.

For the latest updates in the cryptocurrency space, stay tuned to ETMarkets.

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