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Why Are the Crypto Markets Rising Today?
The crypto asset market increased by 0.66% to $2.63 trillion due to institutional ETF inflows and risk-on momentum from Project Freedom extending the rally into early May. The total crypto market capitalization added $17.14 billion since yesterday's close, with Bitcoin
BTCUSD
holding at $80,405 within the upward channel.
Toncoin (TON) leads the top gainer altcoins in the top 100 with approximately 30% gains after Pavel Durov announced transaction fee cuts of up to six times.
Today's Main News:-
Western Union launches USDPT stablecoin on Solana through Anchorage Digital Bank, connecting a global network of 500,000 agents in 200 countries to crypto infrastructure. This creates a large-scale off-ramp for cash that Tether and Circle do not have.
Adam Back highlights Bitcoin’s 200-week moving average surpassing $60,000 as a structural bull market sign, where this line has historically served as the price floor in every bottom cycle since 2015.
Chainalysis projects that the adjusted stablecoin volume will reach $719 trillion by 2035 through organic growth alone, and macroeconomic catalysts could push this figure to $1.5 quadrillion. Stablecoin payment volume is expected to match Visa and Mastercard between 2031 and 2039.
Crypto Market Capitalization Remains Stable, ETF Inflows Extend Rally
Total crypto market capitalization rose 0.66% to $2.63 trillion, increasing by $17.14 billion since Sunday’s close. The market has been climbing since hitting a low of $2.48 trillion on April 29, with $2.64 trillion now serving as the nearest resistance.
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Early May was marked by strong institutional inflows. The US spot Bitcoin ETF absorbed $573.28 million on May 1, the largest daily inflow since January and setting a new monthly record.
This reinforces the risk-on signal from Project Freedom earlier. Trump’s statement about escorting ships through the Strait of Hormuz on May 4 eased oil supply pressures, and institutional capital is flowing back into crypto assets without disruption.
Currently, daily closes above $2.64 trillion target $2.69 trillion and $2.73 trillion. The zone between $2.64 trillion and $2.58 trillion is a key defense. If it drops below $2.58 trillion, the market could weaken again toward $2.48 trillion.
Closing above $2.64 trillion will confirm a breakout and open further upside potential. But if rejected here, the market could revert to the previous channel.
Bitcoin
BTCUSD
Remains in Channel, CMF Confirms Institutional Buying
Bitcoin
BTCUSD
is trading at $80,405, up 0.69% this session, remaining within the upward channel that has lifted prices since late March. The Chaikin Money Flow (CMF), which indicates institutional buying or selling pressure by combining price and volume data, is at 0.11 and rising.
This CMF reading supports macroeconomic outlook. Institutional fund flows driving ETF BTC purchases to record monthly highs are also visible on on-chain data. Buying support is emerging from the bottom, not just driven by news euphoria.
A breakout above $82,139 opens the way to $83,846 and $86,277, with $89,372 as the upper limit of the channel. Below this range, $80,432 is the nearest resistance, $78,320 is the first support, and $74,906 is the lowest support.
A daily close above $82,139 nearly confirms a channel breakout and targets $86,277. But if it fails to break $80,432, BTC will remain in the consolidation channel.
Toncoin (TON) Surges After Telegram Validator Announcement
The chart confirms a breakout. TON is trading in a cup and handle pattern, which is typically bullish. Consolidation in the handle deepened after April 12, then a breakout on April 29 amid broad market recovery, finally passing the cup’s neckline on May 4 with high volume.
Volume reinforces confidence in this breakout. The breakout candle appears with volume significantly higher than previous consolidation phases.
However, TON still needs to break above $1.79 for the rally to continue toward the projected target around $1.94. Buying volume has started to decline since May 4, opening the door for profit-taking. If it fails to break $1.79, the next supports are at $1.59 and $1.52.
Closing above $1.79 with volume targets the $1.94 area. Conversely, rejection at this level could cause the breakout to fade toward $1.52 or even lower.