Daily Crypto Signals: Bitcoin Breaks $97K While Solana Surges

Bitcoin price rose nearly to $97,000 on Monday, May 1, as Solana saw an impressive 8% daily gain to $152. Both cryptocurrencies displayed strong technical momentum and increased trading volume.

What Happened: Bitcoin is heating up again as it trades closer to the $100,000 mark, while Solana is showcasing strong resilience with a notable rebound.

These advancements highlight the increasing institutional adoption of digital assets, further indicated by Morgan Stanley’s alleged plans to list cryptocurrencies on its E*Trade investment platform by 2026.

Coinbase (NASDAQ:COIN) will be suspending trading for the Movement Network token (MOVE) after the token failed to meet the criteria for continued listing, the major cryptocurrency exchange announced on Monday. The ruling follows an ongoing third-party investigation into an agreement that was reportedly forged by Movement Labs and a market-making firm.

Meanwhile, Sam Altman, CEO of OpenAI, is launching his crypto-linked digital identity project World (formerly known as Worldcoin) in the U.S.

The initiative is expanding its presence with openings in major innovation hotspots throughout the Southeast and the West Coast. Among these locations are Atlanta, Austin, Los Angeles, Miami, Nashville, and San Francisco.

In another development, World is joining forces with Visa (NYSE:V) to introduce a card that will enable users to spend their WLD tokens at any establishment that accepts Visa. The startup is also distributing its crypto token to users in exchange for registering their iris scan to confirm their humanity.

Bitcoin Tested $97,000

Bitcoin (BTC) price surged by 3% in the 24 hours leading up to Monday, May 1, to nearly reach $97,000. It reached a high of $96,955, exceeding its level from February 22. The cryptocurrency’s price movements were accompanied by positive swings in U.S. markets, with Microsoft (NASDAQ:MSFT) shares rising by 10%.

If Bitcoin can recover its broken parabolic slope, veteran trader Peter Brandt has projected that it may reach a price of $125,000 to $150,000 by August or September 2025. From Bitcoin’s price chart, Brandt identified a parabolic arc pattern—a technical formation that usually signals rapid climbs followed by steep corrections.

From an on-chain perspective, Bitcoin expert Axel Adler Jr. stated that the “start” rally zone for Bitcoin is about to be reached. In an optimistic scenario, where some technical indicators cross critical levels, Adler estimated a price target of over $150,000.

With U.S. GDP figures showing a 0.3% decline in the first quarter—marking the first contraction since Q2 2022—the current price fluctuation aligns with the economic instability of the times. This increases the likelihood of the Federal Reserve keeping interest rates at 62.8% for the June 18 meeting, which would create an environment that benefits risk-on assets like Bitcoin.

According to data from Blockquant, over $137 million in short positions were liquidated within the past 24 hours, and analyst Joao Wedson highlighted that BTC’s price momentum is still indicating positive tendencies. However, a large volume cluster between $96,000 and $99,000 suggests that Bitcoin might be undergoing a period of consolidation before making a move to test the $100,000 barrier.

Solana Trading Volume Soared 35%

Solana (SOL) displayed strong resilience as it rebounded by 8% from its April 30 low of $140 to trade at around $152 on Monday. The cryptocurrency’s daily trading volume also surged by 35% over the past 24 hours, showcasing strong market interest in the token.