Key Highlights
- Bitcoin reclaimed the $80,000 zone as the global crypto market cap rose to $2.65 trillion and market sentiment improved to neutral.
- Spot Bitcoin ETFs saw $630 million in net inflows on May 1, led by BlackRock’s IBIT and Fidelity’s FBTC.
- Ethereum, XRP and Solana ETF flows remained weaker on a weekly basis, showing that institutional demand is still concentrated in Bitcoin.
The cryptocurrency market saw gains on Monday, with its total value increasing to $2.65 trillion – a rise of almost 1.5% to 1.6% in the last day. Trading activity increased to over $167 billion. Bitcoin continues to be the dominant cryptocurrency, accounting for about 60.7% of the market, while Ethereum holds around 10.7%. This indicates that most investment is still focused on the largest cryptocurrencies like Bitcoin and Ethereum, rather than smaller, alternative coins.
The Crypto Fear & Greed Index is showing improvement, reaching 48 and moving towards a neutral position after a period of increased caution last week. Bitcoin is currently trading above $80,000, while other major cryptocurrencies are also performing well: Ethereum is near $2,356, BNB around $625, Solana near $84.5, and XRP around $1.40, according to CoinMarketCap.
Right now, the biggest story in the market is Bitcoin climbing back above $80,000, combined with renewed investment into Bitcoin ETFs and increasing pressure on those betting against it. However, this positive movement isn’t widespread enough yet to confidently say the market is fully recovering and ready for a major surge.
Price data: Top 5 crypto assets
| Rank | Token | Price | 24H Change | Market Cap | 24H Volume | Key Level |
| 1 | Bitcoin | $80,244–$80,310 | +1.9% to +2.0% | $1.61T | $52B–$53B | $80,000 support / $82,000 resistance |
| 2 | Ethereum | $2,356 | +1.1% | $284.5B | $25.7B | $2,320 support / $2,400 resistance |
| 3 | XRP | $1.40 | +0.4% to +0.5% | $86.6B | $2.52B | $1.37 support / $1.45 resistance |
| 4 | BNB | $625.79 | +1.0% | $84.36B | $2.26B | $610 support / $640 resistance |
| 5 | Solana | $84.53 | +0.4% | $48.74B | $5.32B | $80 support / $90 resistance |
Bitcoin breaking past $80,000 is a strong indicator in the current market. It’s now trading above the previous week’s high of $78,000, and traders are now looking at a potential price range between $82,000 and $84,000.
Ethereum’s price also increased, but it’s recovering at a slower pace than Bitcoin. It’s currently trading below $2,400, and breaking through that level could signal a more significant price increase.
While XRP, BNB, and Solana are showing gains, they aren’t driving the market’s overall increase today. Bitcoin is the main force behind the current rally, rather than other cryptocurrencies.
Top gainers and losers
Top gainers
| Token | Price | 24H Gain | Reason |
| SKYAI | $0.711 | +79.79% | Bitget listing, AI-meme rotation, whale activity |
| Dash | $48.54 | +24.95% | Privacy/older proof-of-work rotation |
| Siren | $0.7871 | +12.18% | Speculative low-cap momentum |
| Ondo | $0.3108 | +11.86% | RWA narrative and Binance momentum |
| Terra Classic | $0.00009415 | +10.78% | Speculative retail flows |
According to CoinMarketCap, SKYAI saw the biggest gains among the top 100 cryptocurrencies, jumping almost 80%. Dash, Siren, Ondo, and Terra Classic also performed well, following closely behind.
Top losers
| Token | Price | 24H Loss | Reason |
| MemeCore | $2.68 | -10.63% | Profit booking after recent strength |
| Bittensor | $279.11 | -3.46% | AI-token cooling |
| Midnight | $0.031 | -2.78% | Flow-driven reversal |
| JUST | $0.08265 | -2.76% | Rotation away from prior movers |
| PAX Gold | $4,514.74 | -2.21% | Gold-linked token pullback |
The underperforming investments tended to focus on protecting against losses rather than seeking growth, and significant declines usually happened to specific companies or situations, not the overall market.
Leverage data
| Asset | Funding / Positioning Signal | Bias | Reading |
| BTC | Positive momentum after $80K reclaim | Longs building, shorts pressured | Breakout-driven leverage |
| ETH | Mild positive positioning | Cautious long | Still lagging BTC |
| SOL | Mixed | Neutral to mild long | Waiting for $90 reclaim |
| XRP | Mixed | Rangebound | ETF flows softened |
| DOGE | High speculative activity | Long momentum | Breakout above $0.10 driving attention |
Funding rates are still significant because they determine who pays whom – when rates are positive, those betting on price increases (longs) pay those betting on price decreases (shorts), and vice versa when rates are negative. Consistently high rates might suggest too many traders are on the same side of the trade, increasing the chance of a sudden price swing in the opposite direction.
Bitcoin’s price recently jumped back above $80,000, and while things aren’t currently risky, traders using leverage are probably increasing their positions. This makes $80,000 a key price point. If Bitcoin stays above it, it could trigger more gains as losing traders are forced to close positions. However, if the price falls below $80,000, those who recently bought Bitcoin expecting further increases might face losses.
Liquidation data
| Metric | Data |
| Total 24H liquidations | $245.71 million |
| Traders liquidated | 83,587 |
| Main signal | Short pressure after Bitcoin reclaimed $80K |
| Market reading | Breakout volatility, not panic deleveraging |
Over the last 24 hours, crypto traders experienced $245.71 million in liquidations, impacting more than 83,000 traders, according to data from CoinGlass.
Today’s market is looking healthier than it did last week, when a large number of leveraged positions were closed due to falling prices. Bitcoin’s price increase means that traders betting on a price decrease could face losses if Bitcoin stays above $80,000. However, the current number of liquidations isn’t high enough to indicate a significant ‘short squeeze’ is happening just yet.
ETF data: Bitcoin, Ethereum, XRP, Solana
Headline ETF flows
| Asset | Latest Flow Window | Net Flow | Key Signal |
| Bitcoin | May 1 | +$630M | Strong institutional return |
| Ethereum | May 1 | +$101.18M | Daily rebound, but weekly flow still negative |
| XRP | Week ending May 1 | -$35,210 | 3-week green run ended |
| Solana | Week ending May 1 | -$1.24M | Nearly flat, GSOL drove outflow |
Bitcoin ETFs: Inflows return sharply
Bitcoin ETFs saw roughly $630 million in new investments on May 1st. BlackRock’s IBIT led the way with $284 million, followed by Fidelity’s FBTC with $213 million. These ETFs now hold a total of about $103.78 billion in assets, and have received a combined $58.71 billion in investments since their launch.
The most encouraging sign in the market today is Bitcoin climbing back above $80,000. Last week, prices dipped due to investors selling off from ETFs and a general hesitancy to take risks. Now, that’s reversed – the return of investment from regulated sources is pushing the price up again.
Bitcoin ETF read
The significant amount of money flowing into the market on May 1st appears to have improved investor confidence. While weekly data requires further analysis, Bitcoin ETFs experienced a net inflow of $154 million for the week ending May 1st, with gains on Friday helping to counteract earlier declines.
From my analysis, the current signals are leaning positive – bullish, if you will – but there are still some caveats. We’re seeing renewed demand for Bitcoin ETFs, which is encouraging, however, that demand isn’t spread evenly; it’s largely coming from just a handful of issuers. This suggests the strength isn’t as widespread as we might hope.
Ethereum ETFs: Daily inflow, weekly weakness
Ethereum ETFs saw a net inflow of $101.18 million on May 1st. Fidelity’s FETH led the way with $49.39 million, while BlackRock’s ETHA contributed $43.16 million.
Overall, the market for Ethereum exchange-traded funds (ETFs) showed a decline last week. Investors pulled out a net total of $82.47 million between April 25th and May 1st, reversing three weeks of previous gains. The majority of these outflows, around $71.45 million, came from BlackRock’s ETHA ETF, and Fidelity’s FETH ETF also experienced redemptions.
Ethereum’s price is going up, but not as quickly as Bitcoin’s. While today’s increase is a good sign, we haven’t seen strong, consistent buying from larger institutional investors yet.
XRP ETFs: Bright spot fades
XRP ETFs had a good run in April, but recent numbers suggest that interest is slowing down. For the week ending May 1st, these ETFs experienced a slight outflow of about $35,210, which breaks a three-week pattern of gaining money.
The amount isn’t cause for alarm, but it’s noteworthy because XRP was one of the few cryptocurrencies consistently attracting purchases from institutions even when the market was down.
XRP ETFs had a positive April, seeing their best monthly inflows of 2026. However, the current market conditions aren’t as favorable as they were just last week.
Solana ETFs: Flat-to-negative tape
As an analyst, I’ve been tracking the recent performance of Solana spot ETFs, and I’ve observed $1.24 million in net outflows for the week of April 27th to May 1st. Interestingly, almost all of this outflow came from the Grayscale SOL Trust (GSOL). The other seven ETFs tracking Solana didn’t appear to experience any significant capital movement during that period.
Solana’s ETF isn’t currently providing a strong positive signal. While SOL’s price is increasing along with the rest of the market, this isn’t being driven by demand for an ETF.
Reading the ETF flows
The ETF market is giving a split signal:
- Bitcoin: strong inflow, clear institutional bid.
- Ethereum: daily rebound, but weekly outflow still matters.
- XRP: April strength cooled into a small weekly outflow.
- Solana: almost no broad ETF activity.
The most likely explanation for today’s price increase is that it’s being driven by Bitcoin, rather than a broad investment shift into all types of cryptocurrencies.
Stablecoin and liquidity data
There’s still a lot of stablecoin liquidity in the market, with USDT at around $189.56 billion and USDC near $77.64 billion. Total cryptocurrency trading volume over the last 24 hours exceeded $167 billion, indicating that liquidity has improved now that Bitcoin has surpassed $80,000.
Despite some recovery, most investment is still flowing into Bitcoin and a few other major cryptocurrencies. With Bitcoin accounting for over 60% of the market, new money is primarily going into BTC before spreading to smaller altcoins.
This is why the market looks stronger, but not euphoric.
Spot vs derivatives volume
In the last 24 hours, Bitcoin saw over $52 billion in trading volume, with Ethereum close behind at nearly $25.7 billion. Solana’s trading volume reached around $5.32 billion, and XRP traded approximately $2.52 billion.
Recent price increases are being driven by both immediate purchases and more complex trading activity. Bitcoin breaking above $80,000 probably caused traders who were betting against it to buy back in, and while some altcoins are benefiting from speculative interest, the gains are more focused on specific coins.
Dogecoin is a good example of this. According to CoinMarketCap, its price increased after it surpassed $0.10, and trading activity with leverage—around 15.36 billion DOGE—likely made the price change even more significant.
On-chain and market signals
The market is showing three important signals:
Bitcoin’s price rising back above $80,000 shows that buyers successfully protected the price after the dip in late April.
Second, ETF demand has returned, but the demand is heavily tilted toward Bitcoin.
Also, while a few altcoins like SKYAI, Dash, Ondo, and Terra Classic are showing positive movement, most altcoins haven’t started to recover broadly yet.
CoinMarketCap’s Altcoin Season Index is currently at 37 out of 100, meaning the market is still leaning more towards a Bitcoin-dominated season than an altcoin season.
Macro and traditional market setup
The overall positive trend in financial markets also boosted cryptocurrency prices. Bitcoin briefly surpassed $80,000, and stocks of companies involved in crypto also increased in value. This was partly due to progress on the CLARITY Act and strong investment into Bitcoin ETFs. According to Investor’s Business Daily, companies like Circle, Iren, and Coinbase saw their stock prices rise as Bitcoin broke through the $80,000 mark.
This matters because the market is not only reacting to price. It is reacting to a combination of:
- ETF inflows returning
- U.S. crypto legislation optimism
- risk appetite improving
- Bitcoin reclaiming a major psychological level
Still, the move needs confirmation. A daily close above $80,000 is stronger than an intraday spike.
Key levels to watch
| Asset | Support | Resistance | Breakout Level | Breakdown Level |
| BTC | $80,000 | $82,000 | $84,000 | $78,000 |
| ETH | $2,320 | $2,400 | $2,500 | $2,250 |
| SOL | $80 | $90 | $95 | $76 |
| XRP | $1.37 | $1.45 | $1.50 | $1.32 |
| DOGE | $0.10 | $0.115 | $0.12 | $0.095 |
Bitcoin needs to stay above $80,000 to confirm today’s price increase. If it can break past $82,000, it could reach $84,000. However, falling below $78,000 would suggest the recent gains might not last.
Ethereum needs to rise above $2,400 to create momentum for a further increase to $2,500. For now, despite some price gains today, Ethereum is still underperforming compared to other major cryptocurrencies.
Solana is looking for a price of $90 to solidify its upward trend. XRP needs to surpass $1.45 to resume its price increase, potentially driven by excitement around ETFs.
Market outlook
The cryptocurrency market is showing improvement compared to last week, although gains aren’t consistent across the board. Bitcoin has risen back above $80,000, the overall market value is now $2.65 trillion, and investors are once again putting money into Bitcoin ETFs. This gives those optimistic about the market a good reason to believe prices will continue to rise.
Despite some recent gains, the cryptocurrency rally is limited. Ethereum ETFs are still experiencing net outflows weekly, XRP’s brief period of ETF inflows has stopped, and demand for Solana ETFs is nearly unchanged. While some altcoins are rising in price, these increases are driven by specific, individual projects like SKYAI, Dash, Ondo, and Terra Classic, rather than a widespread shift in investor interest across the entire market.
The current Bitcoin trading outlook is straightforward: it needs to stay above $80,000. If it does, prices could then rise to between $82,000 and $84,000. However, if it drops below $80,000, there’s a risk of a sharp price drop, especially as more traders are using borrowed funds after the recent price increase.
For now, the tape is cautiously bullish — but still Bitcoin-led.
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2026-05-04 20:56