Crypto Weekly (06/05 – 12/05): Market Enters Dull Phase

The crypto market last week witnessed Bitcoin trading sideways, currently in a breath-holding phase awaiting news. Alongside this, Altcoins also demonstrated their boredom by either trading sideways or experiencing declines.

Crypto Weekly 0605 Azc

Crypto Market Recap Last Week

In the second week of May, the crypto market experienced a relatively quiet period. Bitcoin, the king of cryptocurrencies, fluctuated within the range of ($60,000 – $65,500 USD) with no significant movements. Notably, this is the fourth consecutive week Bitcoin has traded in this price range, creating a sense of boredom for many investors.

It’s worth mentioning that former U.S. President Donald Trump voiced his support for the crypto market last week. However, this statement seems to have had little impact as trading volumes continued to languish in anticipation of fresh news.

Chart Btc Crypto

BTC Chart

With Bitcoin in a sideways phase, the majority of other cryptocurrencies (Altcoins) also followed the footsteps of the “crypto king” and moved within narrow ranges. However, some Altcoins with inflated valuations relative to their actual utility began to experience liquidity pressures and witnessed sharp price declines.

Top 10 Strongest Performing Coins Last Week

Pump

Source: Coinmarketcap

Top 10 Biggest Losers Last Week

Dump

Source: Coinmarketcap

Key News Last Week

Macro News This Week

This week, there are two important economic events that investors should pay attention to:

Firstly, at 12:30 (UTC) on May 15, 2024, the U.S. Consumer Price Index (CPI) will be released. This is a key indicator reflecting the level of inflation in the world’s largest economy. Typically, if the CPI figure exceeds expectations, it will be seen as a positive signal for the U.S. dollar, and vice versa.

Secondly, at the same time of 12:30 (UTC) on May 16, 2024, the Initial Jobless Claims data will be released by the U.S. Department of Labor. Traditionally, if this figure is higher than forecasted, the market will view it as a negative signal for the U.S. dollar, and vice versa.

Don’t forget to follow us for the latest updates on the crypto market!

Love

0.0/5

Love

Latest

The Whale Who Made $192 Million Shorting The Crypto Crash Is At It Again

News | Altcoin | Editor Choice

The Whale Who Made $192 Million Shorting the Crypto Crash Is at It Again

A notorious whale on Hyperliquid — who previously made $192 million by perfectly timing last week’s crash — is back with another massive short, sparking fears that Bitcoin could be on the verge of another steep decline.

Binance Spends $283 Million To Clean Up Weekend Market Chaos

News | Editor Choice | Policy & Regulations

Binance Spends $283 Million to Clean Up Weekend Market Chaos

The world’s largest cryptocurrency exchange, Binance, has announced a total compensation of $283 million for users affected by collateral asset depegging during the sharp market crash on October 10.

Bitcoin And Ethereum Rebound After The Largest Single Day Wipeout In Crypto History

News | Bitcoin | Editor Choice

Bitcoin and Ethereum Rebound After “The Largest Single-Day Wipeout in Crypto History”

The cryptocurrency market is staging a recovery after a tariff shock triggered one of the biggest liquidation events in its history.

Whales Dump Xrp As $50 Million Floods Out Daily

News | Altcoin | Editor Choice

Whales Dump XRP as $50 Million Floods Out Daily

The relentless sell-off of XRP by crypto whales is shaking the market, with $50 million worth of tokens dumped daily, dragging prices lower and sparking fears of a deeper bearish cycle ahead.

Luxembourg Becomes First Eurozone Nation To Invest In Bitcoin

News | Bitcoin | Editor Choice

Luxembourg Becomes First Eurozone Nation to Invest in Bitcoin

Luxembourg’s sovereign wealth fund has allocated 1% of its portfolio—around USD 8 million—into a Bitcoin ETF, making it the first Eurozone country to officially invest in the digital asset.

Screenshot 2025 09 10 100533