Cryptocurrency market review

2026. 5. 8. 오후 1:39:38

This week, under the influence of conflicting geopolitical signals, the leading cryptocurrency assets strengthened, but then lost their positions. Now, BTC is trading around 79200.00 (+0.4%), ETH is near 2265.00 (–2.6%), USDT is around 0.9997 (–0.01%), BNB, which returned to the fourth position, is at 635.00 (+2.6%), and XRP is at 1.3800 (–0.9%). The total market capitalization amounted to 2.64T dollars, while Bitcoin’s dominance rose to 60.2%, with Bitcoin ETF balances increasing by 777.3M dollars and Ethereum ETFs by 66.7M dollars.

Earlier, the likelihood of renewed open hostilities in the Middle East region increased due to Iran’s attack on the oil production infrastructure of the United Arab Emirates and Washington’s intentions to unblock the Strait of Hormuz by force. However, Operation Project Freedom was halted as substantial progress was achieved in diplomatic settlement negotiations, according to US President Donald Trump. Such a development put pressure on the dollar, supporting alternative assets, including digital ones. Nevertheless, the sector has now returned to a decline as the parties exchanged new attacks in the waters, resulting in damage to the Islamic Republic’s port complexes and American vessels. Trump has already commented on the continuation of the truce, but investors prefer to remain cautious.

Additionally, today’s negative dynamics could be intensified by the April US labor market data, scheduled for 14:30 (GMT+2). According to forecasts, unemployment will remain at 4.3%, while nonfarm payrolls will reach 73.0K, supporting advocates for maintaining monetary policy within the US Fed. Note that although most policymakers are not inclined to adjust the interest rate. Experts believe that due to rising inflation and economic stabilization, the regulator will keep the interest rate until the end of the year. It would support the national currency in the medium term.

Michael Saylor, founder of the analytical company Strategy Inc., the world’s largest public BTC holder, announced the possibility of selling part of the tokens to cover dividend obligations. Earlier, he had repeatedly stated that the corporation would not dispose of the world’s first cryptocurrency under any circumstances. These reports alarmed traders and soured overall market sentiment. As a result, the Fear and Greed index, which had risen to 47 and nearly entered neutral territory, retreated to 38 in the fear zone. Furthermore, on Thursday, investors withdrew 268.5M dollars from Bitcoin ETFs and 103.6M dollars from Ethereum ETFs.

On a positive note, representatives of the banking and cryptocurrency industries reached an agreement regarding the Digital Market Transparency Act (CLARITY Act). Now, stablecoin issuers will only be able to receive rewards for conducting transactions with coins. Income based solely on holding them will be prohibited, as such programs closely resemble traditional bank deposits and could cause an outflow from the traditional financial system. Thus, business representatives will have to shift from a buy-and-hold principle to a buy-and-use one. Ripple CEO Brad Garlinghouse praised the innovation, noting that legal clarity is essential for the industry’s development. Experts suggest the bill will come into force as early as June.

Overall, the situation in the sector remains complex and subject to incoming geopolitical signals. Under these conditions, most key digital assets may resume moderate growth or move into consolidation next week.

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