This Week in the Crypto Market: May 5-10, 2025

Good news for cryptocurrency traders! The bull’s fire has been lit in the crypto market this week. You didn’t hear wrong, the bullish cycle has officially started. Of course, it remains unclear how long the cycle will last, but positive signals continue to come. Signals that the Fed will cut interest rates in June and statements made by US President Donald Trump helped the Bitcoin price exceed $100,000. On the other hand, Ethereum, the pioneer of altcoins, also recorded its best daily performance since 2021, rising over 20 percent in one day. What is behind these rises? Trump’s announcement that tariffs will be reduced in the ongoing trade war with China and trade agreements with the United Kingdom were the most important factors behind the rises. Of course, positive developments also triggered the rises.

Here’s what happened in the crypto market last week…

Bitcoin Finally Rising

Bitcoin, the leading cryptocurrency, has been on the rise due to US President Donald Trump’s positive statements on tariffs and the Fed’s close to cutting interest rates. This week, Bitcoin rose dramatically from $93,800 to the $104,000 region. The nearly 10 percent rise also led to activity in the altcoin market. Crypto expert Arthur Hayes stated that Bitcoin is taking firm steps towards the $ 150,000 target and that the rally will gain strength as the US will soon go to monetary easing. Meanwhile, everyone was happy to see Bitcoin above $100,000. With the effect of this rise, altcoin investors have increased their risk appetite.

Ethereum has started: No Stopping!

Ethereum, the pioneer of altcoins, made a big rise this week. Ethereum, which has been at the center of criticism for a long time, left its mark on the week of May 5-10. ETH price rose nearly 40 percent in the past week. While ETH was traded at $ 1,797 on the first trading day of the week, it reached $ 2,490 on May 9. ETH’s 22 percent rise on May 8 was recorded. This rise was ETH’s best daily performance since 2021. The pioneer of altcoins has raised hopes that a major altcoin rally could begin. On the other hand, Ethereum released the Pectra update last week. With this update, the Ethereum blockchain became more active. Ethereum, which has recently attracted interest from institutions, may maintain its positive momentum in the coming weeks.

US President Trump to Host Dinner for Coin Holders

US President Donald Trump will organize a special dinner for the holders of the TRUMP coin he launched on the Solana blockchain. Those who will be invited to the dinner organization will be determined from the wallet holders who hold the most TRUMP coins. The top 25 TRUMP coin holders will receive a tour of the White House and a VIP reception. The May 22 event was announced this week at a dinner closed to the press. The fact that a special dinner will be organized for TRUMP coin holders has sparked controversy in the US. Many politicians claimed that Trump violated ethical rules. At the event, 220 people who own the most TRUMP coins will be invited. The 25 people selected among these 220 people will receive special service. The president of a country that rules the world with the dollar is organizing an event for the Solana memecoin. This will be the most different crypto event ever seen.

Another ETF Application: Step Taken for NEAR

US digital asset manager Bitwise has filed an application to list a mutual fund with the US Securities and Exchange Commission (SEC). The mutual fund in question is NEAR, the once famous altcoin. According to Bitwise’s registration statement filed on May 6, the ETF will track the price movements of the NEAR token through a traditional brokerage firm. Bitwise has moved to initiate the approval process required for the SEC to review and rule on the NEAR mutual fund. The investment firm will file a 19b-4 application for NEAR, which must be preceded by a registration statement.

Bitcoin Move by South Korean Presidential Candidate

Bitcoin’s recognition and power in financial markets is increasing day by day. US President Donald Trump’s use of Bitcoin in his election campaign and the US’s move towards Bitcoin reserves have inspired many countries. Bitcoin voices have also started to rise in South Korea. Lee Jae-myung, South Korea’s presidential candidate, announced that if elected next month, Bitcoin ETFs will be launched in South Korea. The presidential candidate stated that he will do his best to make South Korea a crypto-friendly country. The pro-crypto candidate’s messages resonated globally. Many investors think that crypto adoption in South Korea will spread to other countries. Polls in South Korea show Lee Jae-myung as the favorite for the presidential election. If he wins, it will be a big step towards Bitcoin and other cryptocurrencies in Asia.

US’s First State Bitcoin Reserve Enacted

The US state of New Hampshire has become the first US state to allow a government-held reserve of Bitcoin and digital assets. State governor Kelly Ayotte officially signed Bill 302, which will enable the state to create a digital asset reserve. According to the law in question, 5 percent of the treasury of the state of New Hampshire will be reserved for Bitcoin. The law is expected to take effect within 60 days and be implemented within the state. The new law allows New Hampshire to invest in digital assets with a market capitalization exceeding $500 billion and use them as reserves. For now, only Bitcoin meets the criteria in this law. Experts predict that Ethereum will also be considered under the law in the near future.

“Bitcoin Will Reach 120 Thousand Dollars in the Second Quarter”

Banking giant Standard Chartered made a striking prediction for Bitcoin. The bank stated that net money inflows to spot Bitcoin ETFs in the last three weeks signaled a big rise. Referring to over $4 billion in institutional inflows, Standard Chartered predicted that Bitcoin will reach higher levels through institutional adoption. The banking giant stated that the target set for the second quarter is $ 120,000, and even this target may remain very low. Standard Chartered stated that the Bitcoin price target by the end of 2025 is $ 200,000.