Bitcoin's $97K Flirtation, Ethereum's Volatility Surge, and May's Market-Moving Moments | Crypto Willy's Weekly Roundup

Cryptocurrency News Today: Market Updates & Analysis podcast.

Hey there, crypto comrades! Crypto Willy here with your weekly dose of blockchain buzz and digital asset drama!

What a week it's been in cryptoland! Bitcoin has been on a rollercoaster ride that would make Six Flags jealous. As of today, May 13th, the king of crypto has been flirting with some serious price action. Just last week, BTC was trading around $94,770, but recent surges pushed it above the $97K mark ahead of the Federal Reserve's FOMC meeting on May 7th.

Speaking of price predictions, BitMEX co-founder Arthur Hayes dropped a bombshell last month, suggesting Bitcoin could rocket to a mind-blowing $250,000 in 2025 if the U.S. Federal Reserve pivots to quantitative easing. While that might seem like moonboy talk, the data shows some interesting possibilities.

According to Nick Forster from Derive, futures traders are currently pricing in a 40% chance for Bitcoin to break $105,000 by May 30th—up significantly from 16% last week. There's even a 20% chance we could see Bitcoin smashing through $110,000 by month's end. Not too shabby!

Ethereum isn't sitting on the sidelines either. The same data indicates a 17% chance of ETH climbing above $2,800 by the end of May, with a 9% shot at breaking $3,000. Volatility has been the name of the game, with Bitcoin's volatility increasing from 36% to 40%, while Ethereum's has been even more dramatic, soaring from 52% last week to a peak of 87%.

Looking ahead, May is packed with potential market movers. Today's release of the U.S. Consumer Price Index (CPI) data could significantly impact market sentiment. The Producer Price Index (PPI) follows on May 15th, which could further influence how traders position themselves.

On the technical side, Ethereum's Pectra upgrade is scheduled for this month, which could affect both performance and price action. Several major tokens also have unlocks coming up, potentially introducing new supply dynamics to watch.

Bitcoin dominance reached an impressive 64.9% on May 2nd—the highest level we've seen in quite some time—signaling that despite the growth in altcoins, investors still view BTC as the safest bet during uncertain times.

The regulatory landscape continues to evolve, with several key decisions expected this month that could shape the future of crypto adoption and integration into traditional financial systems.

That's all for this week's roundup! Remember, we're still early in this crypto revolution, and volatility is just part of the journey. Stay curious, stay cautious, and I'll catch you next week with more crypto insights. This is Crypto Willy, signing off!

Get the best deals https://amzn.to/3ODvOta