Major tokens such as Dogecoin (Doge), Cardano (ADA) and Solana (soil) have slipped more than 5% in the last 24 hours while traders moved to lock certain profits after a solid weekly rally.
The wider market of cryptography jumped alongside risk assets last week, fueled by macroeconomic tail winds and a renewal of the optimism of investors, but signs emerge that certain overheated segments can be due for a break.
“Bitcoin oscillates around the level of $ 104,000 for the sixth day, having experienced increased rotation,” Alex Kuptsikevich from FXPro in Coindesk in an email. “It is a fully awaited behavior when approaching the summits of all time in December and January, which served as turns.”
“Ether is negotiating about $ 2,615, having failed to consolidate above the $ 2700 mark, around which the 200-day mobile average also passes. It is likely that after rallying 55% in the last seven days, the second largest capitalized cryptocurrency will stop or start to correct with a potential target at $ 2400.”
The feeling indicators also reflect an increasing exuberance, with the index for fear of cryptography and greed affecting 73, approaching levels generally associated with overheated conditions, as indicated on Tuesday.
Earlier in the week, risk appetite increased after a combination of positive American inflation data, high benefits from the Chinese technological sector and a Chinese business agreement in the United States increased the world’s stock markets. Crypto followed, Bitcoin briefly exceeding $ $ 104,000 and $ 2,700 ether – before meeting the resistance.
“The benefits of the Chinese technological sector increased following the announcement of the American-china trade agreement, leading investors to hope for increased investments and innovations like AI last year,” said Haiyang Ru, Co-PDG of the Hashkey Exchange Business Group, in a telegram message.
“In addition, a monthly report revealed that American inflation was lower than expected, adding more fuel for a continuous bull race on the markets,” said Ru.
However, institutional activity remains robust. Data on health earlier this week have shown that medium -sized bitcoin holders, or wallets with 10 to 10,000 BTC, had accumulated more than 83,000 BTC in the last month.
🐳🦈 The level of whale and bitcoin shark (holding 10-10K BTC) has now accumulated 83,105 BTC more in the last 30 days. Meanwhile, the smallest retail holders (holding <0.1 BTC) spilled 387 BTC in the same period.
For both levels, these are important movements compared to … pic.twitter.com/xg5fmf57gq
– Santiment (@santimentfeed) May 13, 2025
Meanwhile, the upcoming inclusion of Coinbase in the S&P 500 on May 19 is considered a short -term catalyst for the sector, certain analysts believing that the demand for passive funds for action could exceed $ 9 billion.
“We believe that there is more room for digital assets to rally, especially since the inclusion of Coinbase in the S&P 500 on May 19 is getting closer,” said QCP Capital, based in Singapore on Wednesday, in a telegram show on Wednesday.
“History tells us that the inclusion of the index tends to act as a short -term catalyst, because passive managers adjust their allowances to follow the reference more closely,” noted the fund.
