Crypto Price Analysis 5-15: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, FILECOIN: FIL, RIPPLE: XRP, CHAINLINK: LINK, INTERNET COMPUTER: ICP

The crypto market registered a decline of nearly 2% in the past 24 hours as major cryptocurrencies lost momentum. Bitcoin’s (BTC) rally stalled this week after failing to cross $105,000, as it started the week with a bout of volatility. The flagship cryptocurrency reached an intraday high of $104,269 late Wednesday before slipping below $103,000 and dropping to its current level. 

BTC fell over 1% in the past 24 hours, trading around $102,500. Ethereum (ETH) also registered a notable decline, dropping almost 4% to slip below $$2,600 and trade around $2,573. Meanwhile, Ripple (XRP) dropped 3.38% to $2.50, and Solana (SOL) fell over 5% to $173. 

Dogecoin (DOGE) saw one of the biggest drops of the day, falling over 7%, while Cardano (ADA) fell over 5% to $0.786. Chainlink (LINK), Stellar (XLM), Hedera (HBAR), Toncoin (TON), Polkadot (DOT), and Litecoin (LTC) also registered significant declines. 

Bitpay Announces HODL Pay, Allowing Users To Borrow Stablecoins 

Bitpay has announced the launch of HODL Pay, allowing users to borrow stablecoins against crypto holdings for payments without liquidating their assets. Bitpay stated that users must collateralize crypto on Aave, a DeFi lending platform. Existing Aave users can spend borrowed stablecoins, while new users must first deploy eligible assets. The borrowed funds can be used to settle Bitpay invoices for retail purchases, travel bill payments, or gift cards. Users can generate a Bitpay invoice at checkout, connect a wallet via WalletConnect, and borrow stablecoins against their collateral. The loans can be managed using Aave’s dashboard, with the borrower controlling repayment terms. 

HODL Pay will automatically be supported by merchants accepting Bitpay. The new service aims to attract long-term crypto holders by allowing them to spend without selling their assets. Pending transactions can be settled using fiat, crypto, or a mix of both. HODL Pay is compatible with Ethereum, Arbitrum, Base, Polygon, and Optimism Networks. 

“With HODL Pay, Bitpay gives users an innovative way to spend confidently today without giving up their future growth. We are proud to bring the benefits of DeFi into everyday payments.”

CFTC Commissioner To Step Down And Assume Role At Blockchain Association 

Summer Mersinger, one of four commissioners at the Commodity Futures Trading Commission (CFTC), will step down to become the CEO of the Blockchain Association, a digital asset advocacy group. The Blockchain Association announced the departure of its current CEO on May 14, stating that an interim CEO will assume duties until Mersinger assumes the role on June 2. Mersinger’s term at the CFTC was expected to run until April 2028. Mersinger’s departure allows President Donald Trump to nominate another key member to the financial regulator. 

The CFTC, along with the SEC, is one of the most important financial regulators in the US, and its policies substantially impact digital currencies. The US Congress is working on legislation to create a market structure and define the roles each agency will play in regulating and overseeing the crypto ecosystem. 

Asia’s HNIs Shifting To Crypto And Gold 

A report by UBS Group has revealed that high-net-worth individuals in Asia are gradually moving away from US Dollar-based investments in favor of gold, crypto, and Chinese assets. According to Amy Lo, UBS Group’s co-head of wealth management for Asia, gold and crypto are gaining popularity with wealthy individuals. She highlighted rising geopolitical uncertainty and market volatility as the reason behind the shift. As a result, investors are looking for broader exposure across alternative asset classes like crypto. 

According to Lo, volatility is driving customers to perceived safe havens and seeking growth opportunities in new regions. China is also gaining traction among ultra-wealthy investors, with Lo pointing out that clients who were previously hesitant to enter the Chinese market are proactively seeking investment opportunities. 

VanEck Plans To Launch RWA Tokenization Fund 

Investment firm VanEck has announced plans to launch a tokenized real-world asset (RWA) fund that gives investors exposure to US Treasury Bills. The RWA fund has been developed in partnership with the tokenization platform Securitize. The partnership puts VanEck among a growing number of traditional finance firms entering the RWA tokenization space. The fund, called VBILL, requires a minimum subscription of $100,000 for investments on Avalanche, Solana, and BNB Chain. Meanwhile, the minimum subscription on Ethereum is $1 million. 

VanEck joins other traditional financial firms like Franklin Templeton and BlackRock in launching RWA tokenized funds. In January, Apollo, an investment firm with $751 billion in assets under management, also launched a private credit tokenized fund. US Treasurys are one of the largest asset classes in tokenized funds, second only to private credit. 

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) slipped below $104,000 on Wednesday and has extended its losses during the ongoing session as investors wait for a fresh catalyst to drive prices higher. BTC’s latest rally was fueled by burgeoning optimism after softer-than-expected inflation numbers in US CPI data and a temporary thaw in US-China trade tensions. However, momentum has cooled as investors turn their attention to the upcoming US retail sales data. Alankar Saxena, co-founder and CTO of Mudrex, stated, 

“Bitcoin is trading range-bound between $102,500 and $104,000 as investors wait for a fresh catalyst. While institutional investors continue to buy, retail interest has been rising, with Google search trends for ‘Bitcoin’ reaching a 6-month high.” 

Analysts and market watchers believe BTC is showing signs of exhaustion after failing to cross the $105,000-$106,000 resistance level. The flagship cryptocurrency posted a stunning rally last week, which saw it surge past $100,000 on Thursday. However, momentum waned as BTC entered overbought territory and hit a wall of resistance at $105,000. However, the broader trend around BTC is still bullish, although a short-term consolidation or local pullback to $100,000 could be expected, given current technical indicators and on-chain metrics. 

According to K33 Research, BTC’s growth is driven by strong spot market demand rather than leveraged speculation. Meanwhile, CryptoQuant highlighted that investors are active despite BTC’s consolidation above $100,000. Analysts believe this is a sign of growing investor confidence and could act as a catalyst for the flagship cryptocurrency’s next price move. 

BTC ended the previous weekend on a bearish note, dropping 1.66% to $94,390. BTC recovered on Monday, registering a marginal increase and settling at $94,773. The price continued to push higher on Tuesday, rising over 2% to reclaim $96,000 and settle at $96,845. A marginal increase on Wednesday allowed BTC to claim $97,000 and settle at $97,013. Bullish sentiment intensified on Thursday after the US-UK trade deal. As a result, BTC rallied over 6%, surging past the $100,000 mark and settling at $103,096. However, it lost momentum on Friday, registering a marginal decline, slipping below $103,000 and settling at $102,851.

Source: TradingView

The price recovered on Saturday, rising nearly 2% to cross $104,000 and settle at $104,617. BTC was back in bearish territory on Sunday, dropping almost 1% to $103,804. It faced volatility on Monday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as BTC dropped 1.04% and settled at $102,729. BTC recovered on Tuesday despite selling pressure, rising 1.35% to reclaim $104,000 and settle at $104,120. Price action returned to bearish on Wednesday as BTC registered a marginal decline and settled at $103,569. The current session sees BTC down 1.19% as sellers look to drive the price to $100,000 after sellers lost momentum. Sellers will look to drive the price below $100,000, while buyers will attempt to regain momentum and drive toward $105,000.

Ethereum (ETH) Price Analysis

Ethereum (ETH) has registered a notable decline over the past two sessions, losing momentum after failing to overcome the resistance at $2,700. The world’s second-largest cryptocurrency registered a dramatic rally last week to cross $2,000 and $2,500 and reach $2,585 on Saturday. However, it has faced selling pressure since the weekend as buyer exhaustion set in and sellers attempted to overwhelm bullish sentiment. Despite the decline, ETH is still up over 35% in the past seven days.

ETH could continue its upward trajectory as the Ethereum Foundation takes steps to enhance Ethereum’s security architecture. The Foundation has announced the launch of the “Trillion Dollar Security” initiative to enhance Ethereum’s security architecture and support trillions in on-chain value. Ethereum is regarded as one of the most secure blockchains, powering thousands of decentralized applications. The initiative will identify weak spots across the Ethereum stack, including user experience, wallet security, smart contract bugs, and threats to the consensus layer of the blockchain. Analysts and investors hope the initiative can revive momentum and push ETH towards $3,000.

ETH’s price action remained muted until Thursday. The price registered a marginal increase on Monday but fell back in the red on Tuesday, dropping to $1,816 after a marginal decline. Price action remained bearish on Wednesday as ETH fell 0.26% to $1,812. However, the price rallied on Thursday, rising almost 22% to surge past $2,000 and settle at $2,206. ETH continued to push higher on Friday, reaching an intraday high of $2,489 before settling at $2,345, ultimately registering an increase of 6.30%. Buyers retained control on Saturday as the price rose over 10% to cross $2,500 and settle at $2,585. However, the rally lost momentum on Sunday, dropping almost 3% and settling at $2,514.

Source: TradingView

ETH started the week facing selling pressure and volatility as buyers and sellers struggled for control. Sellers ultimately gained the upper hand as the price registered a drop of nearly 1% to slip below $2,500 and settle at $2,496. Bullish sentiment returned on Tuesday as ETH rose 7%, surging past $2,600 and settling at $2,681. However, ETH was back in the red on Wednesday, dropping almost 3% and settling at $2,610. The current session sees ETH down over 3% as sellers look to drive the price below $2,500. Analysts expected a decline in the short term after the RSI went into overbought territory, as indicated in the chart.

Solana (SOL) Price Analysis

Solana (SOL) has extended its losses in the ongoing session, with the price struggling to stay above $170. SOL had surged to an intraday high of $184 on Tuesday as it started the week on a bullish note. However, it lost momentum after failing to cross $185-$190 as buyer exhaustion set in.

SOL registered a notable decline on Sunday (May 4), dropping almost 2% to $144. However, the price recovered on Monday, rising 1.78% and settling at $146. Price action remained muted on Tuesday and Wednesday as SOL registered marginal increases to stay above the 20-day moving average and settle at $147. Bullish sentiment intensified on Thursday as the price registered an increase of almost 12% to surge past $160 and settle at $164. Buyers retained control on Friday as SOL rose over 5% to cross $170 and settle at $172. SOL continued to push higher on Saturday, rising nearly 3% and settling at $177.

Source: TradingView

Despite the positive sentiment, SOL lost momentum on Sunday, dropping nearly 3% and settling at $173. The price encountered volatility on Monday as buyers and sellers struggled to establish control. Buyers ultimately gained the upper hand as SOL rose 0.61% to $174, but not before reaching an intraday high of $181. The price fell to an intraday low of $165 on Tuesday as selling pressure intensified. However, SOL rebounded from this level to register an increase of 5.50% to cross $180 and settle at $183. Price action turned bearish on Wednesday as SOL dropped nearly 4%, slipping below the 200-day SMA and $180 and settling at $176. The current session sees SOL down 3.77% and trading around $170 as sellers look to drive the price lower.

Filecoin (FIL) Price Analysis

Filecoin (FIL) started the previous week in the red, dropping almost 1% on Monday (May 5) and settling at $2.60. The price plunged to an intraday low of $2.48 on Tuesday as selling pressure intensified. However, it rebounded from this level to settle at $2.58, ultimately registering a drop of almost 1%. Despite the overwhelming selling pressure, FIL registered a marginal increase on Wednesday and settled at $2.59. Bullish sentiment intensified on Thursday as FIL rose nearly 13%, crossing the 20 and 50-day SMAs and settling at $2.92. The price continued to push higher on Friday, rising 3.66% to cross $3 and settle at $3.02. Buyers retained control on Saturday as FIL registered an increase of over 7% and settled at $3.24.

Source: TradingView

Despite the positive sentiment, FIL lost momentum on Sunday, dropping over 3% to $3.13. The week began with FOL facing volatility as buyers and sellers struggled to establish control. As a result, FIL fell to an intraday low of $2.99, reaching an intraday high of $3.13 before settling at $3.13. The price plunged to an intraday low of $2.94 on Tuesday as selling pressure intensified. However, it rebounded from this level to register an increase of almost 3% and settled at $3.22. Price action turned bearish on Wednesday as FIL plunged over 5% and settled at $3.04. The current session sees FIL down nearly 5%, slipping below $3 and trading at $2.89.

Ripple (XRP) Price Analysis

Ripple (XRP) failed to cross $2.60 this week as its rally ran out of steam after encountering selling pressure between $2.60 and $2.70. XRP slipped below the 20 and 50-day SMAs last Monday, dropping 1.25% to $2.13. The price plunged to an intraday low of $2.08 on Tuesday as selling pressure intensified. However, it rebounded from this level to register an increase of over 1% and settle at $2.15. XRP was back in the red on Wednesday, dropping 1.31% and settling at $2.12. Bullish sentiment returned on Thursday as markets rallied. As a result, XRP rallied over 9%, surging past the 20 and 50-day SMAs and settling at $2.32. The price continued to push higher on Friday, rising 0.70% and settling at $2.34 after reaching an intraday high of $2.42.

Source: TradingView

Buyers retained control on Saturday as XRP rose 5.44% and settled at $2.47. Despite the positive sentiment, XRP was back in the red on Sunday, dropping 4.23% and ending the weekend at $2.36. Bullish sentiment returned on Monday as XRP surged to an intraday high of $2.65. However, it could not stay at this level and settled at $2.54, ultimately registering an increase of over 7%. The price fell to an intraday low of $2.42 on Tuesday as selling pressure intensified. However, it rebounded, registering an increase of 1.54% and settling at $2.58. Despite the positive sentiment, XRP was back in the red on Wednesday, dropping 1.22% to $2.55. The current session sees the price down nearly 4%, trading around $2.46.

Chainlink (LINK) Price Analysis

Chainlink (LINK) dropped nearly 2% on Monday (May 5), slipping below the 50-day SMA and settling at $13.64. However, it recovered on Tuesday, rising 1.32% to cross the 50-day SMA and settle at $13.82. The price faced volatility on Wednesday as buyers and sellers struggled to establish control. Sellers ultimately gained the upper hand as LINK registered a marginal decline and settled at $13.81. Bullish sentiment intensified on Thursday as LINK soared 15%, surging past the 20-day SMA and $15 and settling at $15.89. The price reached an intraday high of $16.70 on Friday but could not stay at this level and settled at $16.01, ultimately registering an increase of nearly 1%.

Source: TradingView

Buyers retained control on Saturday as LINK registered an increase of over 8% to cross $17 and settle at $17.33. However, buyers lost momentum on Sunday, allowing sellers to take control. As a result, LINK plunged to an intraday low of $16.31 before settling at $17.10, ultimately registering a decline of 1.31%. The price encountered volatility on Monday as buyers and sellers struggled to establish control. Sellers gained the upper hand as LINK dropped over 2%, slipping below $17 and settling at $16.73. LINK recovered on Tuesday, rising 4.04% to reclaim $17 and settled at $17.41. Price action was back in bearish territory on Wednesday as LINK fell 2.27% to $17.02. The current session sees LINK down over 4% and trading at $16.30.

Internet Computer (ICP) Price Analysis

Internet Computer (ICP) registered a marginal increase on Monday, rising 0.44% to $4.61. Price action remained positive on Tuesday and Wednesday as ICP registered marginal increases and moved to $4.65. Bullish sentiment intensified on Thursday as ICP rose over 12%, surging past $5 and the 20 and 50-day SMAs and settling at $5.21. Price action remained bullish on Friday as ICP rose 4.61% and settled at $5.45. Bullish sentiment intensified on Saturday as ICP registered an increase of over 7% and settled at $5.84. However, it fell back in the red on Sunday, dropping 1.37% and settling at $5.76.

Source: TradingView

ICP faced volatility on Monday as buyers and sellers struggled to establish control. Sellers gained the upper hand as the price registered a marginal decline and settled at $5.74. ICP plunged to an intraday low of $5.45 on Tuesday as selling pressure intensified. However, it rebounded from this level to register an increase of 2.79% and settle at $5.90. Price action was back in bearish territory on Wednesday as ICP dropped over 4% and settled at $5.64. The current session sees the price down over 3%, trading around $5.46.

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.