Are We Entering the Next Bull Run?

May 23, 2025

Happy Friday!

The crypto market has seen some strong bullish movement over the past week, with Bitcoin taking charge.

The flagship cryptocurrency has managed to break above the $110,000 mark, even touching $112,000 sometime during the week before coming down to a current price of around $108,500.

This impressive performance has been one of the major reasons for optimism among traders and investors so far, with analysts generally holding bullish predictions for the future.

The altcoin market has also mostly been in positive territory and has been tracking Bitcoin's strength.

One of the biggest engines of this rally has been Ethereum, which is currently trading around $2,575.

Other major altcoins are tracking this price movement, with BNB, Solana, Dogecoin, and XRP showing strength.

Crypto Market Summary

Bitcoin has broken above $110,000 and has hit a fresh all-time high of $112,000. It is attempting to flip the $109,000 zone into support.
Market sentiment has improved further, with the Crypto Fear and Greed Index now showing a "Greed" reading of 76/100, up from last week's 69/100.
Bitcoin's market dominance remains strong at 63.75%, while Ethereum's dominance has climbed slightly to 9.2%.

Several altcoins are showing strong momentum, with Ethereum trading around $2,675 and Solana near $186.
U.S.-listed Bitcoin ETFs have seen encouraging net inflows, with $1.6 billion in the past week alone.

General Market Overview

The total crypto market cap has jumped to $3.64 trillion before settling down at its current reading of $3.41 trillion.

The previous week had several major developments for crypto, with BlackRock's IBIT becoming the second-largest Bitcoin holder after Satoshi Nakamoto himself.

There are also reports of the XRP ledger getting ready to launch three new international stablecoins sometime over the coming weeks.

In terms of market sentiment, the Altcoin Season Index is currently showing a reading of 26/100, which shows that while altcoins are performing well, the market is still leaning more towards Bitcoin.

This is a slight deviation from last week's Altcoin Season Index reading of 41/100 in a show of Bitcoin's current dominance.

Overall, the market seems greener than it was last week, and if the inflows continue, the following week is expected to deliver just the same results.

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Market Watch

Crypto Whale Bets $1.1B on Bitcoin – Is a Price Explosion Incoming?

An anonymous trader, "James Wynn," opened a $1.1 billion Bitcoin long position on Hyperliquid using 40x leverage.
This highly leveraged trade has been the largest of its kind on the Hyperliquid platform.
Despite the volatility of Bitcoin in the last few days, James Wynn's position has remained above its liquidation price of $103,800.
Wynn has a history of successful degen trades on Hyperliquid, including massive profits from altcoins like Fartcoin and Official Trump.

Judge Tosses SEC-Ripple Settlement: Court Battle to Continue

Ripple Labs and the Securities and Exchange Commission filed a joint motion to dismiss the ongoing legal battle from 2020.
However, US district judge Analisa Torres has thrown the case out based on “Procedural missteps” from both parties.
According to pro-Ripple lawyer Stuart Alderoty, this doesn’t necessarily mean that the case will drag on for longer.
The case is merely stuck on technical difficulties, and Judge Torres expects both parties to file proper motions before dismissal.

After $106K Rejection and $685M in Liquidations, Can BTC Bounce Back?

Bitcoin briefly hit $106,000 on Sunday before crashing $2,000 within minutes.
Over $280 million in liquidations were recorded in 24 hours and affected over 90,000 traders from either side.
A $300 million long position opened by a whale on HyperLiquid may have been the cause of this price somersault.
ETH longs were the most affected in the liquidation charts, with a single $8.2 million position wiped out.

Top Crypto News

Altcoin ETFs to Fail? SEC Extends Review on Ether Staking Yet Again

The U.S. SEC has again postponed decisions on several crypto ETFs, including Bitwise's Ether staking ETF and Grayscale's XRP ETF.
Among altcoins, Litecoin is believed by some analysts to have a higher likelihood of receiving ETF approval earlier than others.
The SEC is following its due process by asking for public opinion on these delayed ETF proposals.
Industry analysts maintain that early approvals for most altcoin ETFs are unlikely.

SafeMoon Scandal Explodes: CEO Karony Convicted in $9M Crypto Fraud

Braden John Karony, former SafeMoon CEO, has been convicted on all charges of conspiracy to commit securities fraud, wire fraud, and money laundering.
The conviction carries a possible prison sentence of up to 45 years.
Karony and his co-conspirators allegedly diverted "locked" liquidity pool funds for personal gain.
Co-conspirator Thomas Smith cooperated with prosecutors and testified against Karony, while Kyle Nagy remains a fugitive in Russia.

Will Stablecoins Finally Face US Regulation? GENIUS Act Clears Senate Hurdle

The GENIUS Act has just advanced towards final passage after spending weeks in limbo.
This bill was designed to create clearer rules in the US over the issuance of stablecoins.
Legislation cleared the 60-vote requirement in a 66 versus 32 vote.
Senators like Elizabeth Warren have claimed that while the bill is strong, it might not be strong enough to prevent corruption.