Crypto Price Analysis 5-29: BITCOIN: BTC, ETHEREUM: ETH, SOLANA: SOL, CHAINLINK: LINK, HEDERA: HBAR, APTOS: APT

The crypto markets registered a marginal decline over the past 24 hours as price action remained mixed. Bitcoin (BTC) is struggling to regain momentum and has slipped below $108,000 over the past 24 hours. The flagship cryptocurrency is down nearly 1% over the past 24 hours, trading around $107,900. Meanwhile, Ethereum (ETH) reclaimed $2,700, up almost 4% over the past 24 hours, as buyers look to build momentum and push towards $3,000. 

Ripple (XRP) continued trading in the red, with the price registering a marginal decline and falling to $2.28. Solana (SOL) is struggling to stay above $170, with the price down nearly 1%, while Dogecoin (DOGE) is up 0.50%, trading around $0.224. Cardano (ADA), Toncoin (TON), Hedera (HBAR), Polkadot (DOT), and Litecoin (LTC) registered notable price increases. However, Chainlink (LINK) and Stellar (XLM) registered notable declines. 

US Federal Court Blocks Trump Tariffs 

Futures surged early Thursday after a federal court pushed back President Donald Trump’s reciprocal tariffs. The US Court of International Trade ruled that President Trump overstepped his authority when he imposed reciprocal tariffs and ordered the challenged tariff orders be vacated. Trump’s ever-changing approach towards tariffs and trade policies and concerns about inflation have spooked markets, with companies dialing back forecasts and traders adopting a wait-and-watch approach. 

Meanwhile, Nvidia shares jumped almost 5% during after-hours trading after the chipmaker exceeded expectations on its top and bottom lines for the first quarter, as its data center business registered a year-over-year growth of 73%. James Demmert, Chief Investment Officer of Main Street Research, stated, 

“Wednesday’s Nvidia earnings report is pivotal not just for Nvidia but for the entire stock market, as it can rejuvenate investor optimism across the board and help investors to focus on the power of AI and less on headlines out of Washington on tariffs and taxes.”

Dow Registers Drop As Fed Minutes Rattle Markets 

US stocks closed lower Wednesday after the US Federal Reserve released minutes from its May policy meeting. The Dow Jones Industrial Average dropped nearly 1%, while the S&P 500 and Nasdaq Composite Indices fell 0.56% and 0.51%. The Fed indicated a cautious approach to monetary policy and warned of “difficult tradeoffs” if inflation persisted. 

“Participants agreed that uncertainty about the economic outlook had increased further, making it appropriate to take a cautious approach until the net economic effects of the array of changes to government policies become clearer. Participants noted that the Committee might face difficult tradeoffs if inflation proves to be more persistent while the outlooks for growth and employment weaken.”

Circle Freezes USDC Linked To LIBRA Scandal 

Circle has frozen nearly $58 million in USDC connected with the LIBRA memecoin scandal. Blockchain analysts from Arkham noted that Circle had frozen two Solana wallets linked with the LIBRA deployer and project team. Both wallets held a combined $57 million in USDC. Circle’s multisig freeze authority conducted the freeze. 

“ALERT: $57M OF USDC ASSOCIATED WITH LIBRA FROZEN BY CIRCLE Two Libra accounts have just been frozen by Circle, including the Libra deployer wallet. These accounts contained a combined $57M in USDC, which is now immobile.”

The freeze is part of a class-action lawsuit filed in March in the Southern District of New York, with LIBRA investors suing Kelsier Ventures and its founders, Gideon, Thomas, and Hayden Davis. Benjamin Chow, a co-founder of Meteora, Julian Peh of KIP Protocol, and organizations that helped in the development and marketing of the LIBRA token are among the other defendants. 

Crypto Mining Stocks Plummet 

US crypto mining stocks dropped after minutes published by the Federal Reserve indicated growing uncertainty about the economy’s outlook. According to the minutes, the Fed may face a difficult tradeoff if inflation persists and the outlook for growth and employment weakens. The Fed has kept interest rates steady between 4.25% and 4.50% due to growing uncertainty about the economic outlook and an increase in the risk of higher unemployment and higher inflation. Riot Platforms closed the May 28 trading day down over 8%, while CleanSpark (CLSDK) fell 7.61%, and MARA Holdings dropped almost 10%. Crypto exchange Coinbase (COIN) also fell 4.55%, while Michael Saylor’s Strategy extended its downtrend, dropping over 2%. 

Bitcoin (BTC) Price Analysis 

Bitcoin (BTC) registered a notable decline on Wednesday, falling over 1% as it briefly dipped below $107,000 to an intraday low of $106,856 before reclaiming $107,000 and settling at $107,834. The flagship cryptocurrency’s price action has been subdued after last week’s rally, thanks to buyer exhaustion and profit-taking at higher levels. Despite BTC’s subdued price action this week, it is up nearly 15% over the past month. Additionally, analysts believe the overall sentiment around BTC remains positive despite a pullback to $107,000. CryptoQuant contributor Burak Kesmeci highlighted Bitcoin’s Market Value to Realized Value (MVRV) ratio and the importance of the 365-day Simple Moving Average as a benchmark for the MVRV metric. Historically, when the MVRV crosses and maintains weekly closes above the SMA365, it indicates sustained upward momentum. 

Meanwhile, long-term BTC holders have transferred $4.02 billion in BTC, the largest spending volume from the 1-to-5-year cohorts since February 2025. The surge is driven by the 3-to-5-year cohort ($2.16 billion), the fifth-largest this cycle. The 2-to-3-year and 1-to-2-year cohorts contributed $1.41 billion and $450 million, respectively. BTC has traded in a narrow range between $105,000 and $110,000 since Friday as it consolidates close to its all-time high. However, its trend into price discovery remains intact, with analysts pointing out that the price is consolidating above previous highs. 

BTC ended the previous week in positive territory, rising over 3% and settling at $106,489. The price plunged to an intraday low of $102,135 on Monday as selling pressure intensified. However, it rebounded from this level to reclaim $105,000 and settle at $105,572. BTC recovered on Tuesday, rising 1.21% to $106,854. Buyers retained control on Wednesday as the price rose 2.57% to cross $109,000 and settle at $109,603. BTC surged to a new all-time high on Thursday, reaching an intraday high of $111,970 before registering a marginal decline and settling at $111,582. However, price action turned bearish on Friday, and BTC plunged nearly 4% to settle at $107,356.

Source: TradingView

Price action turned positive over the weekend as BTC 0.46% on Saturday and 1.15% on Sunday to cross $109,000 and settle at $109,095. The current week started positively as BTC registered a marginal increase and settled at $109,453. However, it was back in the red on Tuesday, registering a marginal decline and settling at $108,951. Selling pressure intensified on Wednesday as BTC fell over 1% to a low of $106,856 before settling at $107,834. The current session sees BTC up nearly 1% as buyers look to build momentum and push the price toward $110,000.

Ethereum (ETH) Price Analysis

Ethereum (ETH) reclaimed $2,700 after registering an increase of nearly 5% in the past 24 hours as institutional interest in the world’s second-largest cryptocurrency returned. The move past $2,700 sees ETH extend its impressive performance, with the price rising over 50% during the past month. ETH’s recovery comes after a difficult Q1, during which the asset’s price plummeted over 40%. Spot Ethereum ETFs have also attracted $402 million in inflows over the past month, according to data from SoSoValue. Industry leaders are pushing the United States Securities and Exchange Commission (SEC) to approve staking for Ethereum ETFs. If the SEC approves these requests, Ethereum ETFs could register even more inflows.

ETH’s recovery can also be credited to large-scale ETH purchases by institutions. Between May 7 and May 21, Abraxas Capital purchased over 350,000 ETH, worth around $837 million. The firm also transferred 185,000 ETH from centralized exchanges, indicating long-term conviction about the asset’s price. Trading firm DRW also made a $150 million investment in ETH in April, while online gambling firm SharpLink Gaming raised $425 million to establish an ETH treasury.

ETH ended the previous weekend facing volatility and selling pressure but registered an increase of nearly 1% and settled at $2,498. The price fell to an intraday low of $2,349 on Monday before rebounding to register a rise of 1.18% and settle at $2,527. ETH registered a marginal decline on Tuesday but rebounded on Wednesday to register an increase of 1.10% despite volatility and selling pressure. Bullish sentiment intensified on Thursday as ETH rose over 4% to cross $2,600 and settle at $2,664. The price reached an intraday high of $2,731 on Friday but lost momentum after reaching this level,  falling over 5% to $2,525.

Source: TradingView

Despite the overwhelming selling pressure, ETH rebounded over the weekend, registering a marginal increase on Saturday and then rising nearly 1% on Sunday to settle at $2,551. ETH started the current week positively, registering a marginal increase and moving to $2,564. Buying pressure increased on Tuesday as ETH rose almost 4% to reclaim $2,600 and settle at $2,662. Buyers retained control on Wednesday as ETH rose nearly 1% and settled at $2,683. ETH raced to an intraday high of $2,791 during the ongoing session before declining and moving to its current level of $2,720.

Solana (SOL) Price Analysis

Solana (SOL) faced rejection from the $180 level yet again, falling nearly 3% on Wednesday after reaching an intraday high of $179 a day prior. While SOL has been unsuccessful in establishing a sustained bullish position at this level, it has maintained a positive signal by crossing the 50-week exponential moving average for three consecutive weeks. SOL is still trading significantly lower than its all-time high. However, Coinglass data shows futures market activity remains robust, with SOL futures open interest at $7.5 billion, just 1 billion short of its $8.5 billion peak. High open interest indicates speculative interest, suggesting traders are positioning themselves for volatility.

Funding rates have also turned negative, indicating a pivot towards short positions. While this reflects bearish sentiment, it also opens the potential of a short squeeze.

SOL started the previous week in the red, dropping nearly 4% to $166. Despite the overwhelming selling pressure, SOL rebounded on Tuesday, rising 1.05% and settling at $168. The price continued pushing higher on Wednesday, rising almost 3% to cross $170 and settling at $173. Bullish sentiment intensified on Thursday as SOL registered an increase of nearly 4% and settled at $179. SOL raced to an intraday day high of $187 on Friday as buying pressure increased. However, it could not stay at this level, ultimately dropping over 3% to $173.

Source: TradingView

Price action was mixed over the weekend as SOL rose 1.09% on Saturday before registering a marginal decline on Sunday and settling at $175. SOl started the current week in the red, registering a marginal decline on Monday. However, it recovered on Tuesday, rising 1.03% and settling at $176. Selling pressure returned on Wednesday, and SOL fell almost 3%, slipping below the 20-day SMA and settling at $172. The current session sees SOL marginally up as buyers and sellers struggle to establish control.

Chainlink (LINK) Price Analysis

Chainlink (LINK) registered a steep decline on Monday (May 19), as it plunged to an intraday low of $14.85 before rebounding to settle at $15.78, ultimately registering a marginal decline. Bearish sentiment persisted on Tuesday as the price fell 0.58% to $15.69. Despite the bearish sentiment, LINK rebounded on Wednesday, rising almost 3% and settling at $16.12. Bullish sentiment intensified on Thursday as the price registered an increase of nearly 4% and settled at $16.74. LINK lost momentum after reaching this level and plunged over 7% on Friday, slipping below the 20-day SMA and settling at $15.54.

Source: TradingView

The price declined on Saturday, falling 1.28% to $15.34. However, it rebounded on Sunday after falling to a low of $14.87, rising 1.22% and settling at $15.53. LINK started the current week in the red, registering a marginal decline. The price rebounded on Tuesday, rising 2.54% and settling at $15.92. Despite the positive sentiment, LINK could not push higher and fell 1.50% on Wednesday to settle at $15.68. The current session sees LINK up over 1%, trading around $15.80, as buyers look to reclaim $16 and push the price higher.

Hedera (HBAR) Price Analysis

Hedera (HBAR) traded in the red at the beginning of the previous week, dropping 1.38% to $0.194. The price recovered on Tuesday, rising 0.58% to cross the 20-day SMA and settle at $0.195. Buyers retained control on Wednesday, and HBAR rose 1.59% and settled at $0.198. Bullish sentiment intensified on Thursday as the price registered an increase of almost 4% to cross $0.20 and settle at $0.205. However, it lost momentum on Friday, plunging nearly 8%, slipping below the 20-day SMA and settling at $0.189.

Source: TradingView

Price action remained bearish on Saturday, dropping over 1% to $0.187. Despite overwhelming selling pressure, HBAR registered a marginal increase on Sunday to end the weekend positively at $0.188. HBAR started the current week in the red, dropping almost 2% and settling at $0.184. The price recovered on Wednesday, rising 1.38%, but was back in the red on Wednesday, falling to an intraday low of $0.180 before settling at $0.186, ultimately registering a drop of 0.56%. The current session sees HBAR marginally down as sellers look to drive the price below the 50-day SMA. On the other hand, buyers will look to regain control and push HBAR back above the 20-day SMA.

Aptos (APT) Price Analysis

Aptos (APT) has faced significant volatility and selling pressure in recent sessions. The price plunged to an intraday low of $4.83 on Monday (May 19) before rebounding to settle at $5.21, ultimately registering a marginal increase. The price dropped over 1% on Tuesday before recovering on Wednesday to settle at $5.27 after rising 2.46%. Bullish sentiment intensified on Thursday as APT surged over 8%, crossing the 20-day SMA and settling at $5.70. It raced to an intraday high of $5.98 on Friday as buyers attempted to move past this level. However, APT lost momentum after reaching this level and plunged over 6%, slipping below the 20-day SMA and settling at $5.33.

Source: TradingView

Price action remained bearish over the weekend as APT registered a marginal decline on Saturday and fell to an intraday low of $5.01 before recovering to end Sunday at $5.27, down 0.53%. APT started the current week positively, registering a marginal increase on Monday. Bullish sentiment intensified on Tuesday as the price rose 1.58%, reaching an intraday high of $5.51 before settling at $5.37. The price registered a marginal increase on Wednesday but is marginally down during the ongoing session as buyers and sellers struggle to establish control.

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.