As of May 7, 2025, Bitcoin has risen to $97,048, with altcoins like ETH and XRP also seeing significant gains. The overall cryptocurrency market sentiment is buoyed by speculation around an upcoming FOMC meeting. While major cryptocurrencies are performing well, some smaller coins like VIRTUAL and FARTCOIN have suffered declines. The crypto market capitalization has crossed $3 trillion again, indicating robust trading activity.
The cryptocurrency market experienced a significant upswing today, May 7, 2025, with Bitcoin (BTC) reclaiming the impressive $97,000 level. Key altcoins, including Ethereum (ETH), XRP, and Solana (SOL), also posted substantial gains over the past day, contributing to an overall bullish sentiment. This rally is largely driven by speculation surrounding the upcoming Federal Open Market Committee (FOMC) meeting.
As it stands, Bitcoin is trading at $97,048—a 3.49% increase in the last 24 hours. There’s a keen buzz among traders regarding a possible breakout towards the $100,000 milestone, which many have been predicting for some time now. In line with this, Ethereum has jumped 4% to $1,835, fuelled by news of the Pectra Upgrade. Trading volume for ETH reached $15.76 billion, showcasing solid market activity.
XRP has also seen a notable rise, climbing to $2.14, primarily due to excitement surrounding a prospective XRP Exchange-Traded Fund (ETF). Meanwhile, other significant altcoins like Solana (SOL), Cardano (ADA), and Dogecoin (DOGE) each recorded approximately 4% increases as well, further energising the market.
Among the top gainers, Stacks (STX) has excelled with a 16% surge, now trading at about $0.864. Following closely, Litecoin (LTC) has risen 12%, reaching $91.39 in the same timeframe. Other movers today include Quant (QNT), IOTA, and HYPE, which have also seen positive momentum.
On the downside, not every asset enjoyed today’s rally. Virtuals Protocol (VIRTUAL) saw a drop of 8%, landing at $1.37, while Fartcoin (FARTCOIN) fell by 7% to $0.9856, after soaring 48.33% back in January—a clear case of market correction there.
Today’s trending cryptocurrencies include Litecoin, Alpaca Finance (ALPACA), Bitcoin, Kaito, and Ethereum. Interestingly, among the day’s top losers are Virtuals Protocol and Fartcoin. Others like Optimism and UNUS SED LEO (LEO) have faced slight declines as well, showing that market fluctuations can vary significantly even over short periods.
In a broader context, the global cryptocurrency market capitalization has once again surpassed the $3 trillion mark, reaching a whopping 24-hour trading volume of $81.61 billion—representing an increase of 24%. Bitcoin’s dominance sits at around 64.3%, highlighting its substantial influence in the marketplace while altcoins continue to assert their presence.
