On May 21, Bitcoin price increased past the $107,500 mark, coming within just 2% of its all-time high. Recent bullish sentiment and strong institutional inflows mainly drove this increase, powering the market upward. With spot ETFs showing consistent gains, all indicators point toward a significant price increase for BTC. Potentially, the entire crypto market could also benefit from this.
As of late Wednesday morning, Bitcoin was trading at $107,647, up 1.3% on the day. The Ethereum price was also near $2,589, with a 0.9% gain. The total crypto market cap stood at $3.4 trillion, reflecting a 1% daily increase. Market watchers are now bracing for what many expect to be the final push that could see Bitcoin break above its previous all-time high.
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A key driver of this momentum has been institutional participation. Bitcoin futures open interest jumped over 10% to $74.35 billion, the highest since January, with Binance alone accounting for more than $12 billion. On the spot side, US Bitcoin ETFs saw net inflows of $41.7 million on Tuesday, extending their winning streak to five consecutive days.
Policy Changes in the US – GENIUS Act
Policy changes are also among the recent developments in the crypto market. On Monday night, the US Senate voted 66-22 to advance the much-anticipated GENIUS Act. This bill aims to introduce regulatory clarity for crypto, especially stablecoins.
The GENIUS Act has drawn support from all sides of the US Senate. The Act will help create guidelines for issuing and backing stablecoins, requiring issuers to maintain equivalent reserves for underlying assets. Nevertheless, the bill faces criticism for lacking stringent safeguards, especially with President Trump appearing to back it.
However, others see it as a breakthrough moment. Some, like MIT’s Christian Catalini, say it could finally allow crypto to go mainstream. “This sets the stage for these assets to go mainstream,” Catalini said in a statement to ABC News.
What Are BTC Technical Indicators Saying?
Momentum indicators suggest BTC will likely continue growing. The 14-day Relative Strength Index is at 70.70, suggesting that Bitcoin might be nearing an overbought state. However, the good news is that it is not at levels associated with huge reversals.
At the same time, the Fear and Greed Index, at 70, indicates how optimistic investors are. Meanwhile, the 50-day Simple Moving Average, at $92,688, and the 200-day SMA, at $86,293, are below the price. This is a clear indication of continued long-term growth. Even the current price movements remain manageable. This is because BTC’s volatility rating is at 5.10% and is well within historical norms.
The combination of price strength, regulatory clarity, and institutional participation will create momentum for the price of Bitcoin to reach an all-time high. Subsequently, as BTC eyes a new high, investors’ attention is shifting towards better opportunities in the market.
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Top Crypto to Buy Now
Bitcoin Pepe (BPEP) is a new meme coin project that is attracting a lot of investors’ interest, and for a good reason. It is the first meme ICO on the Bitcoin layer, introducing the PEP-20 standard. It combines the vitality of meme culture in the crypto market with the solid backing of the Bitcoin blockchain. The ecosystem of Bitcoin Pepe is designed to integrate Solana-like speed with the DeFi utility of Bitcoin capital.
The platform currently has more than 10 partnerships. Some of these include BETV for NFT content and CATAMOTO for fair launches. A partnership with GETE allows cross-chain games and Crypto Hunters for AR and AI experiences. Plena Finance provides support to its dApps and smart contracts, establishing a meme-centric decentralized exchange and NFT market.
Staking rewards are now sold out. The presale will end shortly, on May 31, 2025, placing Bitcoin Pepe as an emerging project picking up traction. As it prepares for its CEX listing, BPEP and its partnerships reinforce its mission to bring a Solana-style meme economy to the Bitcoin network.
PepeX (PEPX)
PepeX is an AI-powered launchpad that lets anyone create crypto tokens without coding skills. It automates key tasks like smart contract audits, liquidity locking, and social media campaigns, making launching tokens easier and more transparent for beginners.
PepeX has raised over $2 million. It operates on Ethereum, Solana, and BNB Chain. Its AI tools help prevent scams with anti-sniping features and deployer wallet tracking. Token holders earn revenue shares from platform fees, rewarding early investors.
With a clear roadmap to expand AI tools and cross-chain support, PepeX aims to lead AI-powered meme token launches. The presale price rises 5% at each stage, encouraging early participation before it ends in Q2 2025. This makes PepeX a strong contender for growth in today’s crypto market.
CartelFi (CARTFI)
CartelFi (CARTFI) is a DeFi protocol that turns idle meme coins into yield-generating assets without losing growth potential. It offers single-asset staking pools with flexible lockups, including a six-month pool with up to 1000% APY. This suits investors seeking passive income from popular meme coins like Dogecoin and Shiba Inu.
Tokenomics allocate 25% to presale, 25% to liquidity and farming, and 10% to staking rewards. CartelFi plans to launch meme-centric liquidity pools and expand partnerships to boost adoption.
By combining DeFi and meme culture, CartelFi offers unique staking and yield farming options. Its growing community and strong roadmap make it a promising project in this year’s crypto market.
