Crypto Price Analysis 5-26: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, BITTENSOR: TAO, FILECOIN: FIL, POLKADOT: DOT

The crypto market bounced back late Sunday/early Monday as Bitcoin (BTC) and other cryptocurrencies rebounded. The flagship cryptocurrency registered an increase of over 1% to reclaim $109,000 and move to its current level of $109,620. Ethereum (ETH) had dipped below $2,500 over the weekend, registered an increase of over 2%, and moved to $2,575. Meanwhile, Ripple (XRP) rose over 1% to $2.34, while Solana (SOL) rose over 2% to move closer to $180. 

Dogecoin (DOGE), Cardano (ADA), Chainlink (LINK), Stellar (XLM), Hedera (HBAR), Litecoin (LTC), and Polkadot (DOT) also registered notable increases. However, Toncoin (TON) bucked the bullish trend and registered a decline of nearly 1%. The crypto market cap registered a rise of 1.36% over the past 24 hours and currently sits at $109,659. 

President Trump’s Proximity To Crypto Raises Ethical Concerns 

President Donald Trump’s push to ease crypto oversight while his family expands their crypto empire has raised ethical and legal concerns. Congressional Democrats, watchdog groups, and even some Republicans have criticized the President for peddling his own meme coin, TRUMP, by personally hosting a dinner at his Virginia golf club. The attendees included the biggest holders of the meme coin. Trump held a separate private reception for the 25 biggest buyers of the token. Attendees spent $148 million to attend the event, which will benefit Trump and his associates, according to crypto firm Inca Digital. 

The Trump family crypto venture, World Liberty Financial, has also been tapped to play a key role in a $2 billion investment deal by an Abu Dhabi financial fund in Binance. Binance had pleaded guilty to US money laundering and other violations. The deal was announced at an Abu Dhabi crypto conference two weeks before Trump visited the UAE. Trump’s pursuit of crypto fortunes was highlighted in a report by the State Democracy Defenders Fund, which estimated the value of his crypto ventures to be $2.9 billion, a significant sum considering the business ventures are only a year old. Democrats and watchdogs believe Trump is exploiting his office for personal gain in unprecedented and dangerous ways. Richard Painter, a former White House ethics advisor, stated, 

“There is the appearance, if not the reality of corruption in the upcoming dinner with Trump on the 22nd at his Virginia golf club for the 220 biggest Trump meme coin buyers and the private reception he’s promised for the top 25 buyers, plus the separate $2bn deal between World Liberty Financial and the Abu Dhabi investment vehicle.”

Other legal and ethical experts also voiced concerns, with Columbia Law Professor and expert on government ethics Richard Briffault stating, 

“Trump is marketing access to himself as a way to profit his memecoin. People are paying to meet Trump, and he’s the regulator in chief. It’s doubly corrupt. This is unprecedented. I don’t think there’s been anything like this in American history.”

Michael Saylor Hints At Imminent Bitcoin Purchase 

Strategy co-founder and executive chairman Michael Saylor has hinted at an imminent Bitcoin (BTC) purchase by posting the BTC chart typically posted before big purchases. Saylor’s posts on Sunday generally indicate the company will purchase BTC when the traditional markets open the following day. 

“I only buy Bitcoin with money I can't afford to lose.”

According to data from SaylorTracker, Strategy holds 576,230 BTC, valued at over $62.5 billion at current prices. The firm is up over 55% on its investment, with unrealized gains of over $22 billion at the time of writing. Investors closely watch the company as a proxy for BTC and a barometer for institutional adoption of the asset. 

Crypto ETFs Will Not Lose Importance Despite Wallet Adoption 

Ark Invest CEO Cathie Wood believes crypto ETFs will maintain their place in the economy despite the growing adoption of crypto wallets. According to Wood, ETFs are an important stepping stone in the crypto economy and will attract investors due to the complexity of crypto wallets. Speaking at the Solana Accelerate event in New York, Wood stated, 

“I think ETFs are an important stepping stone because, you know, wallets seem so complicated, so much friction for consumers, they just wanna push a button. So ETFs for those who want the convenience, I don’t think, will lose a lot of their luster. But they will be a stepping stone into wallet-based.”

Data from Bitbo revealed there are over 200 million active Bitcoin wallets worldwide. Meanwhile, spot Bitcoin ETFs registered $2.75 billion inflows for the week ending May 23. 

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) bounced back after a brief weekend dip, which saw the price drop to an intraday low of $106,726 on Sunday. The flagship cryptocurrency surged to a new all-time high on Thursday as it shattered the $110,000 level and raced to $111,970. However, it lost momentum after hitting a wall of resistance around $112,000. President Trump’s renewed tariff threats also dampened investor sentiment, driving the price down nearly 4% on Friday to $106,816. BTC has shown signs of weakness following Friday’s decline. However, bulls have not ceded ground to the bears, with the price maintaining its position above $105,000. 

The price has rebounded despite President Trump’s latest tariff threat. However, analysts believe overall sentiment around the asset is positive, with BTC reclaiming the $110,000 level at the time of writing. An increasingly fragile global macroeconomic environment driven by concerns about inflation and fiscal stability has seen investors question the US Treasury’s role as a safe-haven asset and pivot to crypto. Bond yields have surged while global growth has stalled, leading to consumer confidence in the US dipping to historic lows. The US 5-year to 30-year bond spread rose to 1%, indicating the markets are pricing in stronger growth, persistent inflation, and a “higher-for-longer” rate environment. 

BTC entered the previous weekend on a bearish note, registering a marginal decline on Friday (May 16) and Saturday and settling at $103,235. Despite the bearish sentiment, the price rebounded on Sunday, rising over 3% to cross $106,000 and settle at $106,489. BTC plunged to an intraday low of $102,135 on Monday as it started the week in the red. However, the price recovered from this level to reclaim $105,000 and settle at $105,572, ultimately registering a decline of nearly 1%. BTC was back in positive territory on Tuesday, registering an increase of 1.21% and settling at $106,854.

Source: TradingView

Bullish sentiment intensified on Wednesday as the price registered an increase of 2.57% to cross $109,000 and settle at $109,603. BTC raced to a new all-time high on Thursday, surging past $110,000 and reaching an intraday high of $111,970 before settling at $111,582. Price action turned bearish on Friday thanks to President Trump’s renewed tariff threats. As a result, BTC fell nearly 4% to $107,356. The price recovered over the weekend, rising 0.46% on Saturday and 1.15% on Saturday to settle at $109,095. The flagship cryptocurrency has reclaimed $110,000 during the ongoing session and is up just over 1%, trading around $110,220. If BTC crosses $112,000, a move to $115,000 can be expected. A break above this level could see the price surge to $120,000.

Ethereum (ETH) Price Analysis

Ethereum (ETH) found support around the $2,500 mark after registering a substantial dip on Friday, keeping its prospects of reclaiming $2,700 alive. The world’s second-largest cryptocurrency faced rejection around the $2,730 mark on Friday triggering a decline of over 5% to a low of $2,505. ETH traded in positive territory over the weekend despite facing selling pressure. ETH faces significant selling pressure at around $2,700 and $2,800. It could begin a surge to $3,000 if it crosses these levels.

ETH faced considerable selling pressure and volatility over the previous weekend, starting with a marginal drop on Friday. Selling pressure intensified on Saturday as the price fell 2.44% to $2,475. ETH faced volatility and selling pressure on Sunday, dropping to a low of $2,326 and reaching an intraday high of $2,585 before ultimately registering an increase of 0.915 and settling at $2,498. The price plunged to an intraday low of $2,349 on Monday as selling pressure intensified. However, it recovered from this level to register an increase of 1.18%, reclaim $2,500 and settle at $2,527. ETH registered a marginal decline on Tuesday before rebounding on Wednesday and settling at $2,552.

Source: TradingView

Bullish sentiment intensified on Thursday as ETH rose over 4% to reclaim $2,600 and settle at $2,664. The price reached an intraday high of $2,731 on Friday but lost momentum after encountering selling pressure. As a result, ETH fell over 5% and settled at $2,525. The price recovered over the weekend, registering a marginal increase on Saturday and nearly 1% on Sunday to settle at $2,551. The current session sees ETH up almost 1%, trading near $2,570. However, a bearish MACD indicates growing selling pressure, suggesting a decline is imminent.

Solana (SOL) Price Analysis

Solana’s (SOL) push toward $200 stalled on Friday after it hit a wall of resistance around $185. SOL registered a dramatic price jump last week, prompting speculations the Ethereum killer could retake $200 for the first time since February. Despite stubborn upper-level resistance, SOL remains up by around $82% from its lowest levels. Solana’s transactions and active addresses have continued rising, increasing 7.3% over the past 7 days to $462.5 million, a figure higher than BNB Chain, Tron, Base, and NEAR Protocol combined.

SOL registered a notable decline on Friday (May 16), dropping nearly 1% to $167. The price continued declining on Saturday, falling 0.89% to $165. Despite the bearish sentiment, SOL recovered on Sunday, rising over 4% to cross $170 and settling at $173. The price plunged to an intraday low of $159, beginning the week in the red. However, it recovered to reclaim $160 and settle at $166, ultimately registering a decline of nearly 4%. SOL recovered on Tuesday, rising 1.05% and settling at $168. Buyers retained control on Wednesday as the price registered an increase of nearly 3% to reclaim $170 and settle at $173.

Source: TradingView

SOL pushed higher on Thursday, rising 3.52% and settling at $179. The price raced to an intraday high of $187 on Friday as buyers attempted a move towards $200. However, it lost momentum after reaching this level, ultimately dropping over 3% to $183. Despite the overwhelming selling pressure, SOL recovered on Saturday, rising 1.09% to $175. However, it was back in the red on Sunday, registering a marginal decline after dropping to an intraday low of $169. The current session sees SOL up over 1% and trading around $177 as it looks to build momentum and reclaim $180 for the first time since February.

Bittensor (TAO) Price Analysis

Bittensor (TAO) registered a substantial decline on Friday (May 16), starting the previous weekend in the red. Price action remained bearish on Saturday as TAO registered a marginal drop to $423. TAO recovered on Sunday despite volatility and selling pressure, registering a marginal increase and settling at $425. The price fell to an intraday low of $387 as selling pressure intensified. However, it recovered from this level to reclaim $400 and settle at $411, ultimately registering a decline of $411. Despite the selling pressure, TAO recovered on Tuesday, registering a marginal increase and settling at $413.

Source: TradingView

Bullish sentiment intensified on Wednesday as TAO surged nearly 9% and settled at $449. Buyers retained control on Thursday as the price registered an increase of almost 4% and settled at $466. Despite the positive sentiment, TAO lost momentum on Friday, dropping over 10%, slipping below the 20-day SMA and settling at $419. The price recovered on Saturday, registering an increase of 2.50% and settling at $430. TAO fell to an intraday low of $409 on Sunday as selling pressure intensified. However, it rebounded to register a marginal increase and settle at $431. TAO has recovered during the ongoing session, with the price up over 4%, trading above the 20-day SMA at $450.

Filecoin (FIL) Price Analysis

Filecoin (FIL) plunged to an intraday low of $2.73 on Saturday, as it started the previous week firmly in the red. Despite the overwhelming selling pressure, FIL recovered on Sunday, rising nearly 5%, crossing the 20-day SMA and settling at $2.91. However, it was back in the red on Monday, dropping to an intraday low of $2.73 before settling at $2.86, ultimately registering a decline of almost 2%. Price action remained bearish on Tuesday as FIL registered a marginal decline. The price recovered on Wednesday, rising over 3% to cross the 20-day SMA and settle at $2.95.

Source: TradingView

FIL pushed higher on Thursday, rising almost 5% to cross $3 and settle at $3.09. However, it lost momentum on Friday and plunged over 8%, slipping below $3 and the 20-day SMA and settling at $2.83. Price action remained bearish over the weekend as FIL dropped 0.42% on Saturday and 0.47% on Sunday to settle at $2.80. FIL has recovered during the current session, with the price up nearly 1%, trading around $2.83.

Polkadot (DOT) Price Analysis

Polkadot (DOT) registered a sharp decline on Saturday (May 17), falling nearly 3% and settling at $4.61. Despite the bearish sentiment, DOT recovered on Sunday, rising over 4% and settling at $4.80. DOT was back in the red on Monday, falling 4.37% and settling at $4.59, but not before dropping to an intraday low of $4.42. The price recovered on Tuesday, rising over 2% to $4.69. Buyers retained control on Wednesday as DOT registered an increase of 1.28% and settled at $4.75.

Source: TradingView

DOT surged over 4% and settled at $4.95 on Thursday. However, it lost momentum after reaching this level and plunged nearly 8% on Friday, slipping below the 20-day SMA and settling at $4.56. Price action remained bearish over the weekend as DOT fell 0.22% on Saturday and nearly 1% on Sunday to end the weekend at $4.52. However, DOT has recovered during the ongoing session, with the price up almost 1%, trading around $4.56.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.