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Cryptocurrency News Articles
Bitcoin fell about 2% to roughly $102400 Tuesday, erasing most of Monday's late surge and dragging the broader crypto market lower.
May 13, 2025 at 04:41 pm
According to CryptoSlate data, Ethereum also declined 38% to near $2450 while Solana slipped 36% to $171.
Bitcoin price fell about 2% on Tuesday, erasing most of Monday’s late surge and dragging the broader crypto market lower.
According to CryptoSlate data, Ethereum also declined 3.8% to trade near $2,450 while Solana slipped 3.6% to $171.
Why is Bitcoin falling again?
The moves arrived hours ahead of the U.S. Bureau of Labor Statistics’ April consumer price index at 8:30 A.M. ET. Traders cut risk across markets on anticipation that a stronger-than-forecast print could lift Treasury yields and the dollar, conditions that tend to pressure crypto valuations.
Profit-taking followed a Monday rebound that pushed Bitcoin above $105,000, seemingly reigniting the run that briefly carried the coin to an all-time high near $109,300 in January.
Open-interest readings on major derivatives venues show a modest contraction of about 11% this week from January peaks, signaling reduced speculative leverage even as long-term holders accumulated.
Corporate demand remains robust. Strategy added 13,390 BTC for roughly $1.34 billion between May 5 and May 11, lifting its treasury to 568,840 BTC, about 2.7% of the circulating supply.
The buy, detailed in the company’s May 8 filing with the Securities and Exchange Commission, was funded through the closing tranche of a $2.1 billion at-the-market equity program.
Altcoins also fall except XRP
Ethereum’s weakness followed last week’s Pectra hard fork, which activated 11 improvement proposals designed to streamline execution and reduce fees.
Early transaction-cost readings show modest relief, yet Ethereum’s share of total value locked has continued to slide as competing Layer-1 networks court developers with lower base costs.
Solana remained the market’s high-beta proxy. The token rallied from $105 to nearly $180 through April’s tariff-driven volatility. A DEX volume of $35.6 billion and activity on the network continue to bolster bullish sentiment amid the broader market selloff.
Breaking the trend, XRP settled around 3% up to trade at roughly $2.50, and sits around 5% higher for 2025, even as Bitcoin and Ethereum are flat to lower.
The token’s relative strength follows Ripple’s March settlement with the U.S. Securities and Exchange Commission, which cut the civil fine to $50 million, and anticipation of CME’s cash-settled XRP futures debut on May 19.
Looking ahead for Bitcoin and broader market
Derivatives desks now point to Bitcoin’s psychological $100,000 level as first-line support. A cooler-than-expected consumer price index could rekindle bullish momentum; a hotter figure risks deeper rotation into cash and short-dated Treasury bills.
The options market is pricing a one-day implied move of approximately 2.5% for Bitcoin, indicating traders anticipate a $2,500 fluctuation in either direction.
Market depth remains thin relative to January’s record-setting flows, a function of widening bid-ask spreads as market makers await clarity on Federal Reserve policy. Three rate-setting meetings remain this year, with the next scheduled for June 11-12.
With the April CPI reading imminent and derivatives positioning light, market participants will soon learn whether Bitcoin’s next defense of six-figure territory after the halving can hold.
Disclaimer:info@kdj.com
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