Key Takeaways
Crypto market today rises 0.08% to $3.32T as BTC stays above $103K amid market recovery.
ETH, XRP, DOGE, ADA decline as BNB and TRON rise, indicating altcoin rebound.
Japan’s economy shrinks 0.7% while Trump-led WLF and Pakistan crypto deal faces scrutiny.
Crypto prices today, May 16, reflect a mixed sentiment as the market recovers after recent lows. The total global crypto market capitalization is up by 0.08% to $3.32 trillion. Bitcoin led with modest gains, while altcoins like Dogecoin and Cardano dipped. It indicates selective buying and profit-taking. The broader market mood remains cautious as traders monitor macroeconomic signals and geopolitical developments.
Let’s explore the movements in top ten tokens to understand what to expect from the market in coming days.
Bitcoin (BTC) was trading at $103,916, up 1% in the last 24 hours. BTC seems to be recovering from earlier losses. It is maintaining its trading range above the $103,000 mark. Bitcoin’s current market cap is over $2.06 trillion, with daily trading volume exceeding $51 billion.
According to Edul Patel, CEO of Mudrex, “Bitcoin is gaining momentum, trading above $104,200 amid strong institutional inflows. Spot ETFs saw nearly $320 million in net inflows, and JPMorgan's bullish forecast has further buoyed sentiment.” Patel noted that BTC could soon test the $105,600 resistance level, while support lies at $102,000.
CoinSwitch Markets Desk added that BTC has been trading between $101,700 and $104,800. It has been staying above the $100K mark for seven consecutive days. The Bitcoin price resilience is surprising given that ETF outflows totaled $295 million.
Ethereum (ETH), the second-largest cryptocurrency, showed faster growth compared to Bitcoin. It was priced at $2,573, posting a 0.81% dip in the past 24 hours. Daily trading volume stood at $25.76 billion, with a total market cap of $310.57 billion.
Despite ongoing network improvements, ETH has struggled to attract strong buyer interest. The $2,600 resistance level remains a crucial hurdle. A clear breakout could bring renewed bullish momentum, but a rejection may drag ETH back toward the $2,500 zone.
The altcoin segment continued to face significant volatility. Notably:
Dogecoin (DOGE) fell sharply by 3.58% to $0.2254. The memecoin has seen heightened volatility, raising risk concerns for holders.
Cardano (ADA) declined 2.28% to $0.7771, with a market cap at $27.45 billion. Lack of fresh institutional interest remains a hurdle.
XRP dipped by 4.69% to $2.40, impacted by legal uncertainty. A key court ruling on May 15 saw Judge Analisa Torres reject both the SEC and Ripple’s joint motion. The motion aimed to lift the sales injunction and reduce the $125 million penalty. XRP earlier dropped to $2.3551 in response.
Ripple’s Chief Legal Officer Stuart Alderoty clarified that this was a procedural issue. He elaborated that the rejection doesn’t affect previous wins like the non-security classification of XRP. Legal experts believe the case is moving toward resolution but may face delays.
Despite weakness in several altcoins, some managed to end in green:
BNB gained 0.77%, trading at $656.79. Its resilience comes from consistent ecosystem upgrades and exchange utility.
TRON (TRX) rose by 1.15% to $0.2761, backed by steady user activity and developer traction.
These altcoins remain supported by network fundamentals and user demand.
Stablecoins continued to offer a safe haven in the volatile environment:
Tether (USDT) held steady at $1.00.
USD Coin (USDC) traded close to peg at $0.9998
Together, they recorded over $103.7 billion in daily trading volume. Thus, highlighting their increasing role in managing volatility and capital flow in DeFi and trading platforms.
Also Read: Crypto Market Today: Tether Blacklist Delay, Bitcoin Outlook, Coinbase Phishing Attack
One major development drawing global attention is the Pakistani crypto deal signed between the nation’s Crypto Council and US-based World Liberty Financial (WLF). The agreement enables blockchain integration across Pakistan’s financial systems. It includes stablecoin creation, asset tokenisation, and regulatory sandboxes.
The deal aims to improve “financial inclusion and digital transformation” in Pakistan. Controversy started after revelations about the involvement of Pakistan Army Chief Asim Munir and members of US President Donald Trump’s family, who reportedly hold a stake in WLF.
Amid scrutiny following the Pahalgam terror attack, WLF issued a statement denying political motives. The US White House has remained silent. However, analysts in New Delhi, cited by Firstpost, labeled the agreement an “opaque financial alliance,” raising regional security concerns.
The agreement was signed by a US delegation including Zachary Folkman, Chase Herro, and Zachary Witkoff, the son of Trump’s special envoy Steve Witkoff. This development may impact investor sentiment in Asia. Institutional crypto flows in and out of South Asia may be affected, given potential regulatory responses from India and global watchdogs.
Adding to macro pressures, Japan's economy shrank by 0.7% in Q1 2025.Thus, exceeding analyst expectations of a 0.3% contraction. This was the first quarterly drop in a year. The yen fell 0.5% to 155.20 against the US dollar, while Japan’s Nikkei 225 dropped 1.2% to 38,720.47.
Given Japan’s critical role in institutional crypto investment, this economic slump may have spillover effects. Comapnies like Metaplanet, which heavily invest in Bitcoin, could face capital constraint pressures. This may add to the cautious mood in global crypto markets.
The crypto market today reflects a crossroads moment. Bitcoin’s firm stance above $103K and solid ETF inflows suggest underlying strength. However, the underperformance of Ethereum and declines in altcoins like DOGE and XRP signal caution.
The newly signed crypto deal in Pakistan adds a complex geopolitical layer that may influence regional crypto regulations. Additionally, Japan’s economic setback introduces further market risk.
Analysts remain watchful of macro indicators and regulatory developments. For now, Bitcoin must hold above $103,600 to maintain market optimism, with $105,600 as the next resistance. Altcoins may stay under pressure until broader confidence returns.
Also Read:Trump's Bold Claim: US Leads China in Crypto, What's Next?