The crypto market registered a slump as Bitcoin (BTC), Ethereum (ETH), and other altcoins traded in the red. As a result, the crypto market cap dropped over 1% and fell to $3.95 trillion. BTC traded above $95,500 for most of the weekend, dropping to a low of $93,612 early on Monday before rebounding to reclaim $94,000 and moving to its current level of $94,650.
Meanwhile, ETH declined over 1%, struggling to stay above $1,800. Ripple (XRP) is down nearly 2% and trading around $2.17, while Solana (SOL) registered a marginal increase as it looks to reclaim $150.
Dogecoin (DOGE) declined 1.50% over the past 24 hours, and Cardano (ADA) is down over 2%, trading around $0.686. Chainlink (LINK), Stellar (XLM), Toncoin (TON), Hedera (HBAR), and Polkadot (DOT) also registered notable declines. However, Litecoin (LTC) defied market trends to register an increase of 1.50%.
Maldives Building $9 Billion Crypto Hub
The government of Maldives has signed an agreement with MBS Global Investments to develop a $9 billion crypto and blockchain hub in Male. According to reports, the agreement was signed on May 4 and hopes to reduce the country’s reliance on tourism and fisheries by attracting foreign direct investment into blockchain and Web3 technologies. The project envisions the creation of the Maldives International Financial Center, an 830,000-square-meter facility that will reportedly employ over 16,000 people. The project will take five years to complete, with the capital requirements of over $7 billion in annual GDP of the island nation.
The planned crypto hub highlights the growing importance of the crypto industry worldwide. However, Maldives must compete with other established jurisdictions like Dubai, Singapore, and Hong Kong to become a global center for financial technology.
Binance Partners With Kyrgyzstan To Introduce Crypto Payments And Blockchain Education
Binance has signed a memorandum of understanding (MoU) with Kyrgyzstan’s National Agency for Investments to bring crypto payment infrastructure and blockchain education to the Central Asian nation. The MoU was announced during a meeting of the newly formed Council for the Development of Digital Assets, chaired by Kyrgyz President Sadyr Japarov. The MoU allows Binance to launch Binance Pay in Kyrgyzstan, enabling crypto-based transactions for locals and tourists. The MoU is part of Binance’s strategy to partner with governments to develop crypto infrastructure and assets globally.
Indonesia Suspends World Network, WorldID Operations
Indonesia has suspended World Network’s local operating license and WorldID services amid complaints about suspicious activities related to the platform. The country’s digital ministry stated it will summon PT. Terang Bulan Abadi and PT. Sandina Abadi Nusantara, two local entities linked to World Network and WorldID operations in Indonesia. According to preliminary investigations, PT. Terang Bulan Abadi is not officially registered to run digital services. It was also discovered that Worldcoin was using a registration belonging to a different company.
Alexander Sabar, Director General of Digital Space Oversight, noted that non-compliance with registration obligations and the use of another legal entity to operate a digital service are serious violations. He also urged the public to remain cautious and alert to unauthorized digital services and immediately report suspected violations through official complaint channels.
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) faltered at upper levels as it faced rejection from a key resistance level on Friday. As a result, the flagship cryptocurrency lost momentum over the weekend and dropped below $95,000. Markets were optimistic as BTC claimed $97,000 and hit an intraday high of $97,996 but failed to capitalize on momentum as selling pressure returned. According to Piyush Walke, Derivatives Research Analyst at Delta Exchange, BTC is falling back into its consolidation range, forming a “flag and pole” pattern, suggesting its uptrend could continue after a period of consolidation. Walke stated,
“A strong breakout above the flag structure, particularly with rising volume, would confirm this pattern and signal renewed bullish momentum, potentially pushing Bitcoin toward new highs.”
Despite the decline over the weekend, likely due to profit-booking, Alankar Saxena, co-founder and CTO of Mudrex, highlighted that network activity is surging, with Bitcoin registering the highest number of active addresses in six months. According to Saxena, heightened participation indicates growing investor engagement and market interest. Saxena stated,
“A dovish stance from the US Fed could lead to a fresh rally toward the $100,000 milestone, triggering over $3 billion in liquidations that could further fuel upward momentum.”
Institutional interest in BTC is highlighted by the fact that spot Bitcoin ETFs bought nearly six times the number of Bitcoin produced by miners last week. Market data shows the ETFs purchased over 18,644 Bitcoin over the past week, while only 3,150 BTC were mined. According to data from Farside Investors, the ETFs accumulated around $1.8 billion in total inflows over the past five days. The accumulation came as BTC surged past $97,000, reaching an intraday high of $97,996 on Friday.
BTC surged past $90,000 on April 22 and reached an intraday high of $95,865 before settling at $94,776 on Friday (April 25). However, it lost momentum over the weekend, registering a marginal decline on Saturday and then dropping 0.99% on Sunday to settle at $93,802. BTC started the previous week positively, rising 1.29% to cross $95,000 and settling at $95,010. However, the flagship cryptocurrency lost momentum on Tuesday, dropping 0.70%, slipping below $95,000 and settling at $94,341. BTC encountered volatility on Wednesday as buyers and sellers attempted to establish control. Sellers ultimately gained the upper hand as BTC registered a marginal decline and settled at $94,160.
Source: TradingView
Sentiment changed to bullish on Thursday as BTC rallied, rising over 2% to surge past $96,000 and settle at $96,452. Buyers retained control on Friday as the price continued to push higher, reaching an intraday high of $97,996 before declining to settle at $96,939, ultimately registering an increase of 0.50%. However, buyers lost momentum over the weekend as BTC faced rejection at a key level. As a result, BTC fell nearly 1% on Saturday and settled at $95,988. Price action remained bearish on Sunday, dropping almost 2%, slipping below $95,000 and settling at $94,387. The current session sees BTC marginally up as buyers and sellers struggle to establish control.
Ethereum (ETH) Price Analysis
Ethereum (ETH) failed to surpass $1,860 yet again, registering a notable decline over the weekend, with the correction threatening to spiral into a deeper decline if the price slips below the 50-day SMA. ETH reached an intraday high of $1,870 on Friday but pulled back over the weekend. Despite the fall, ETH has traded above $1,800, with strong support between $1,772 and $1,824, where over 4.5 million addresses have purchased 6.36 million ETH. Price action has remained muted since April 22-23, when it rallied to cross $1,800, claiming key resistance levels. While ETH has been unable to cross $1,860, bulls have not ceded ground to the bears. As a result, ETH has maintained its position above $1,800, trading in a narrow range.
ETH registered a marginal increase on Friday, rising nearly 1% to $1,786. Buyers retained control on Saturday as the price rose almost 2%, crossing $1,800 and the 50-day SMA and settling at $1,821. However, selling pressure returned on Sunday as ETH fell 1.60%, slipping below the 50-day SMA and $1,800 to $1,792. ETH started the previous week facing volatility as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as ETH registered a marginal increase and settled at $1,799. However, it was back in the red on Tuesday and Wednesday, registering marginal declines and settling at $1,794.
Source: TradingView
Bullish sentiment returned on Thursday as ETH rose 2.42% to reclaim $1,800 and settle at $1,838. Buyers retained control on Friday as the price registered a marginal increase and settled at $1,842. However, buyers lost momentum over the weekend as the price fell 0.39% on Saturday and 1.34% on Sunday to settle at $1,810. The current session sees ETH up nearly 1% as it looks to break past $1,860. A move past this key level could see the price surge to $2,000.
Solana (SOL) Price Analysis
Solana (SOL) is struggling to reclaim $150, losing momentum on Friday (April 25) after reaching an intraday high of $156. SOL witnessed a dramatic rally on April 22, surging to $148 on April 22. However, with sellers active around $150, SOL struggled to push higher and fell into the red over the previous weekend, dropping 1.08% on Saturday and 0.84% on Sunday to slip below $150 and settle at $148. SOL started the previous week facing volatility as buyers and sellers struggled to establish control. As a result, SOL surged to an intraday high of $153 before losing momentum and dropping to $147, ultimately registering a marginal decline. Sellers retained control on Tuesday as SOL dropped almost 1% to $146.
Source: TradingView
SOL plunged to an intraday low of $140 on Wednesday as selling pressure intensified. However, the price rebounded from this level to register a marginal increase and settle at $147. Buyers retained control on Thursday as SOL rose 2.20% and settled at $150. SOL lost momentum on Friday, dropping nearly 2%, slipping below $150 and settling at $148. Price action remained bearish over the weekend as SOL fell 0.83% on Saturday and almost 2% on Sunday, slipping below a key support level and settling at $144. The current session sees SOL up 1.63% as it plots a move to reclaim $150.
Dogecoin (DOGE) Price Analysis
Dogecoin (DOGE) plunged to an intraday low of $0.170 last Thursday (April 24) before rebounding to settle at $1,824, ultimately registering an increase of 2.59%. DOGE faced volatility on Friday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as the price registered a marginal decline and settled at $0.181. DOGE surged to an intraday high of $0.192 as buyers attempted a move to $0.20. However, DOGE could not stay at this level and dropped to $0.181, ultimately registering a marginal decline. Bearish sentiment intensified on Sunday as DOGE fell 1.43% to end the weekend at $0.179. The price continued to decline on Monday, registering a marginal decline and settling at $0.178. Bearish sentiment intensified on Tuesday as DOGE fell over 2% to $0.174.
Source: TradingView
Price action remained bearish on Wednesday, dropping 1.20% to $0.172. However, sentiment changed on Thursday as DOGE surged nearly 5% to $0.180. Buyers retained control on Friday, but the price registered only a marginal increase and settled at $0.181. Price action turned bearish yet again as DOGE fell 3.09% on Saturday and 2.62% on Sunday to end the weekend at $0.170. The current session saw the price increase by almost 2% and trading at $0.174.
Uniswap (UNI) Price Analysis
Uniswap (UNI) has registered a substantial decline over the past few sessions, slipping below key support levels and moving averages. The price registered a marginal drop on Saturday (April 26) before dropping over 5% on Sunday and settling at $5.50. Price action remained bearish on Monday and Tuesday, falling 1.25% and 2.98% to slip below the 20-day SMA and settle at $5.27. UNI encountered volatility on Wednesday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as UNI registered a marginal decline and settled at $5.26.
Source: TradingView
The price recovered on Thursday, rising almost 1% and settling at $5.31. However, it was back in the red on Friday, dropping 1.26% and settling at $5.24. Bearish sentiment intensified on Saturday as UNI plunged nearly 3%, slipping below a key support level and settling at $5.09. Sellers retained control on Sunday as the price fell 1.93%, falling below $5 and ending the weekend at $4.99. The current session sees UNI marginally up and trading at $5.02.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://cryptodaily.co.uk/2025/05/crypto-price-analysis-5-5-bitcoin-btc-ethereum-eth-solana-sol-dogecoin-doge-uniswap-uni