Crypto Market Update: ETH Rises, Bitcoin Eyes $100K as SUI Soars 12%

Ethereum leads cryptocurrency gains as Bitcoin nears $100K; SUI rallies 12%. Overall market sentiment remains optimistic post-FOMC meeting. BTC trading at $99.4K; experts predict potential rise to $109K by June 2025 amid macro influences. Global market cap reaches $3.09 trillion, reflecting a 3.01% daily increase.

The cryptocurrency market exhibited notable fluctuations today, particularly with Ethereum (ETH) leading the way, amidst growing whale activity and a general market optimism. Following a bullish reversal trend, Bitcoin has jumped to around $99,000, now poised to break through the $100K mark. Meanwhile, SUI has emerged as a top daily gainer, up over 12% in the last 24 hours.

Sentiment across the crypto market is cautiously optimistic. This was influenced by the latest Federal Open Market Committee (FOMC) meeting on May 7. The central bank opted to keep interest rates stable at 4.25% to 4.5%, with Fed Chair Jerome Powell noting a careful, data-driven approach in light of economic uncertainties from tariffs and the looming fears of inflation and unemployment rising.

Bitcoin, making yet another attempt to cross the $100,000 threshold, was trading at around $99,400 during our report. The recent uptick in Bitcoin’s price appears to be influenced mainly by macro-economic factors. Despite a 3.7% drop in the overall market, many experts remain optimistic, suggesting a potential rise to $109,000 by June 2025 as investor confidence appears to stabilize.

Ethereum (ETH) has surged as the leading altcoin today, jumping by over 7%. Other notable gainers include Solana (SOL), Dogecoin (DOGE), and Cardano (ADA), each notching gains close to 6%. In contrast, XRP has struggled, marking the lowest increase among major altcoins at just 3%.

Sui (SUI), noteworthy for its impressive 12% climb, has grabbed headlines as one of the day’s largest gainers. The trading volume for SUI also soared nearly 45%, reaching $2.17 billion in 24 hours, indicative of heightened trading activity.

Additional top performers today include PENGU boasting a 25% increase, while EOS, BRETT, VIRTUAL, ENA, and PEP also recorded notable gains, tracking up to 18%. Surprisingly, no major cryptocurrencies were severely impacted today, although FORM did see a mild drop of about 3%.

In the world of trending cryptos today, Bitcoin (BTC), Solana (SOL), Ethereum (ETH), Pi Coin (PI), and XRP (XRP) are the ones grabbing attention. On the horizon for losers today, FORM takes the lead down by 3%, while DEXE and both XAUt and PAXG drop by 2% and 1%, respectively.

Today, the global cryptocurrency market stands at approximately $3.09 trillion—up 3.01% from the previous day, as reported by CoinMarketCap.

For more insights, don’t miss our article on Binance, which leads the market with a 38% share according to a recent Coingecko CEX report.