Ethereum (ETH) Leads the Charge as Bitcoin (BTC) Eyes $100K Resistance

The cryptocurrency market showcased dynamic movements today, with Ethereum (ETH) leading the charge, following increased whale activity and market optimism.

The cryptocurrency market is showing dynamic movements today, with Ethereum (ETH) leading the charge, following increased whale activity and market optimism. In the bullish reversal, Bitcoin surged to $99K and it is now eying to break $100K price mark while SUI leading top daily gainers with soaring over 10% in the past 24 hours.

Currently, the overall crypto market sentiment carries a cautiously optimistic tone, shaped by fundamental developments and the recent Federal Open Market Committee (FOMC) meeting of May 7, 2025. The FOMC decided to hold interest rates steady at 4.25%–4.5%, with Fed Chair Jerome Powell emphasizing a data-dependent approach amid tariff-driven economic uncertainty and rising risks of higher unemployment and inflation.

In the renewed rally, Bitcoin is eyeing to break the $100,000 barrier once again, which is trading near $99,400 at the time of writing. Given that the current spikes in Bitcoin price are solely driven by macro-economic impacts, several experts are remaining bullish, with some predicting a rebound to $109,000 by June 2025. Despite a 3.7% market-wide drop in the last 24 hours, Bitcoin’s resilience suggests a potential upward trajectory as investor sentiment stabilizes.

Among leading altcoins, Ethereum (ETH) is on the top with its price spiking over 7% today while Solana (SOL), Dogecoin (DOGE) and Cardano (ADA) are following with their near-to 6% gains. XRP has been seen lagging today as it only manages to rise 3%, the lowest among all major altcoins.

Sui (SUI), one of the largest gaining altcoin today, has made headlines with a 12% price pump, outperforming the broader market. SUI’s trading volume has also risen nearly 45% to $2.17 billion in the last 24 hours, reflecting intensified trading.

Other top gainers include PENGU–which have seen spikes of over 25%–while EOS, BRETT, VIRTUAL, ENA and PEP are having up to 18% surge in the past 24 hours. On the losing side, none of any major crypto have seen a notable drop today but FORM has declined 3% in the past 24 hours.

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The global cryptocurrency market capitalization today stands at approximately $3.09 trillion, reflecting a 3.01% increase over the past 24 hours–according to data from CoinMarketCap.