The crypto market kicks off May 2025 with cautious optimism. Despite some short-term pullbacks in various cryptocurrencies, investor interest is on the rise.
Bitcoin (BTC): Sideways Action with Bullish Potential
Bitcoin is trading around **$94,230**, slightly down by 1.5% over the past 24 hours. Despite the dip, analysts believe BTC could rise toward **$105,000** this month. Strategy™ (formerly MicroStrategy) has boosted its BTC reserves to over **555,000 coins**, reinforcing long-term confidence in Bitcoin's value proposition.
Ethereum (ETH): Gas Fees Drop, Activity Rises
Ethereum is holding steady near **$1,813**, with a minor dip of around 1%. However, the most significant news is the drastic decline in gas fees. With average gas costs around **0.563 gwei**, Ethereum transactions are now more affordable than ever, following the successful **Dencun upgrade** enhancing scalability and lowering Layer-1 congestion.
XRP (XRP) and Cardano (ADA): Recovery Prospects
XRP is trading at **$2.14**, showing a 1.8% decrease, but the trend may soon shift. Technical analysts point to an approaching price recovery, with targets around **$2.35**. Cardano has slipped to **$0.66**, down nearly 4%, but forecasts for a rebound toward **$0.75** remain optimistic.
May could mark a critical point for the crypto market, potentially signaling a successful second quarter. With improving fundamentals and clearer regulation, the crypto market may be gearing up for its next upward leg.
