A turbulent beginning to the week was experienced by the crypto market on Monday, following a significant weekend rally that had been driven by improved U.S.-China tariff policies, which were seen as a boost to investor sentiment.
At the time of reporting, a 2% decline over the past 24 hours had been recorded by Bitcoin (BTC), which was being traded at $102,271. Ethereum (ETH) had fallen by 1.3% to $2,472, while Solana (SOL) was observed to be stable at $172. XRP emerged as the leading performer, with a 7% surge bringing its value to $2.53.
According to CoinGecko, a 3.1% decrease in total cryptocurrency market capitalization was recorded for the day, bringing it to roughly $3.41 trillion. Data from CoinGlass revealed that leveraged liquidations over the past 24 hours reached $714 million across 213,337 traders. Approximately $202 million of that amount was attributed to BTC, with ETH contributing around $167 million. Altcoins, meanwhile, were responsible for nearly $94 million of the total liquidations.
The pullback has been attributed by analysts to broader macroeconomic uncertainty, although sentiment has been significantly uplifted by the Trump administration’s announcement over the weekend of a 90-day suspension on tariffs for Chinese imports.
According to Charles Wayn, co-founder of the web3 growth platform Galxe, the temporary suspension of U.S./China trade tariffs has been seen as a signal of improving macro sentiment, which is expected to uplift all markets—particularly the cryptocurrency sector.
It was observed by Wayn that as BTC nears the $105,000 mark, speculation is already being made by investors that a new all-time high for Bitcoin could be reached.
Inflow Trends in Spot ETFs
According to data from SoSoValue, inflows of roughly $335 million were recorded by spot Bitcoin exchange-traded funds (ETFs) on May 9, while spot Ethereum ETFs saw inflows of approximately $18 million.
Meanwhile, renewed momentum was observed in digital asset investment products last week, with inflows totaling $882 million. This marked the fourth straight week of net positive flows, bringing the total year-to-date inflows to $6.7 billion, as reported by CoinShares.
Bitcoin was the primary contributor, with $867 million in inflows, as U.S.-listed ETFs were reported to have reached a new milestone of $62.9 billion in total net inflows since their launch in January 2024.
Despite a price increase of over 30% for Ethereum during the past week, only $1.5 million in inflows were recorded. In contrast, Sui attracted $11.7 million in the same period, allowing it to surpass Solana in year-to-date inflows, with $84 million compared to Solana’s $76 million.
