Spotlight

Bitcoin hit $107,000, nearing its all-time high, while Ethereum and Solana are consolidating in preparation for the next rally. Ethereum fell 4.5% last week to around $2,400. Futures continue to signal bullish momentum, although a healthy and predictable consolidation and market easing would be more sustainable for further trend formations. Bitcoin is thus starting to slightly outperform altcoins again.

Digital Asset News

Geopolitical catalysts:
The withdrawal of tariffs between the US and China and the peace talks between Russia and Ukraine are lifting market sentiment and supporting the rise of Bitcoin and the consolidation of altcoins. However, the downgrading of the US by rating agencies casts a slightly negative light on the markets.

Bitcoin’s deflationary strength:
Institutional buying — with companies now holding the equivalent of around $65 billion in Bitcoin — is strengthening Bitcoin’s deflationary appeal.

Regulatory momentum:
BlackRock’s SEC discussions on staking and tokenization could enable staking in digital asset ETPs, potentially benefiting Ethereum and Solana. Coinbase’s inclusion in the S&P 500 increases the visibility of digital assets.

M&A activity:
Robinhood’s acquisition of WonderFi, which has 1.7 million Canadian users, and Anchorage’s purchase of Mountain Protocol, which enables stablecoin issuance, are in line with Ethena’s USDe growth on Solana and signal market expansion. In addition, Coinbase acquired Deribit — an exchange primarily known for options trading — further underscoring the sector’s impressive growth.

GameFi resurgence:
The launch of MapleStory Avalanche, with 180 million users and $3 billion in revenue, highlights the resurgence of GameFi, which may leverage the Ethereum and Solana ecosystems for a rally.

Digital Asset Market

Market review and outlook

Bitcoin, approaching its all-time high of around $109,000, briefly reached $107,000 — driven by geopolitical optimism, ETF inflows, and institutional buying, with $3.1 billion in net ETF inflows over five days. Ethereum’s decline to $2,406 (May 12–19) reflects a healthy consolidation following the rally, according to CoinMarketCap. Around 324,000 ETH were withdrawn from exchanges and over 180,000 were staked, signaling growing holder confidence. Solana fell to approximately $160 after consolidating around $180–$185 in early trading on Monday, May 19. However, $6.83 billion in open futures interest and 69.7% net long positions on Binance suggest strong upward momentum.
Previously surging coins and tokens (e.g., DOGE, SHIB, PEPE) dropped 10–20% this week after strong gains last week and are now consolidating as Bitcoin’s dominance increases. Altcoins are consolidating and appear poised for a cycle in which Bitcoin’s gains could first support fundamentals, and then the broader market.

Chart technology

Bitcoin’s uptrend established a new cyclical high at around $107,000, with strong support at $100,000. Failure to hold these levels may result in a breakdown of consolidation, with the next support at $95,000. Ethereum’s drop to around $2,400 followed a breakout at $2,500. The asset maintains a bullish 30-day trend despite a bearish 7-day moving average, supported by the Pectra hype. Support lies at $2,145 (50% Fibonacci level), with resistance at $2,550.

Bitcoin Upside Targets: $110,000, $113,500, $117,000
Bitcoin Downside Targets: $100,000, $95,000, $92,500
Ethereum Support Zone: $2,145
Ethereum Resistance Zone: $2,550

Trading idea

If the global financial markets experience slight declines, strong support zones could be targeted. Possible entries with a risk-optimized approach appear to represent the best opportunities for entries.