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Crypto prices today show mixed sentiment as Bitcoin trades nears the $105,000 resistance. The global crypto market cap reached $3.34 trillion in market cap, with Ethereum holding at $2,500. Altcoins like DOGE and Pi are surging, hinting at an early-stage altcoin season. However, overbought RSI levels and increasing speculative memecoin launches demand cautious optimism.
The crypto market today, on May 12, 202,5, as of 11.06 AM, shows cautious optimism. The total market capitalization surged to $3.34 trillion over the weekend, with ETH jumping 8%. Bitcoin price is hovering around $103K as Ethereum price reaches $2,500 levels. Altcoins also witnessed double-digit gains, with DOGE and Cardano among the top movers. Optimistic macroeconomic cues, including the US-China trade reset and record ETF inflows fuel the market. However, investors are urged to remain alert as technical indicators hint at short-term corrections ahead.
Let’s explore what’s driving crypto prices today across the top ten tokens:
Bitcoin (BTC) price is down by 0.14% to $103,958 in 24 hours. The largest cryptocurrency now has a market cap of $2.06 trillion and a trading volume of $46.64 billion. BTC ETFs recorded $1 billion in inflows last week. However, a short-term correction or consolidation could be on the horizon with the Relative Strength Index (RSI) entering overbought territory.”
Alankar Saxena, CTO and co-founder, Mudrex said, “With the RSI holding above 70, the asset is showing strong bullish momentum at current levels. Additionally, on-chain data reveals that nearly 350,000 new BTC wallets are created daily, indicating rising retail interest and fresh liquidity. Bitcoin now faces resistance at $105,100 with support at 102,200.”
Ethereum (ETH) price reached $2,513, buoyed by whale accumulation and broader altcoin enthusiasm. ETH’s market cap stands at $308.32 billion, with a daily volume of $25.06 billion.“Ethereum holds strong above $2500 after a strong rally, as Whale activity increases in the asset, helping build buying pressure,” noted Alankar Saxena of Mudrex.
Meanwhile, Avinash Shekhar of Pi42 added, “The recent resurgence in Ethereum and altcoins signals a definitive shift in market sentiment, hinting at the early stages of an altcoin season. With Ethereum gaining nearly 40% weekly, driven by macro tailwinds, the Pectra upgrade, and DOGE leading the charge among large-cap alts, investor appetite is broadening beyond Bitcoin.”
The majority of altcoins among the top ten tokens showed minor corrections today, having surged massively over the weekend:
BNB, Solana, Tron, and XRP dipped slightly. BNB was down by 1.52%, XRP by 0.45%, Solana dipped 0.73,% and Tron by just 0.33%. Cardano and DOGE, on the other hand, rose to 0.37% and 0.57%, respectively.
CoinDCX Research states, “The crypto markets remained under bullish influence during the past weekend, which offered enough momentum to the other altcoins. Pi's price surged by over 50% to become the top gainer for the day, followed by dogwifhat, Four, and Pepe by 15%, 12%, and 10%.”
Pi: +50.91% at $96.34
dogwifhat (WIF): +15.44% at $3.29
Four: +12.82% at $0.052
Pepe: +10.03% at $0.0000141
The positive developments surrounding the trade talks between the US and China have improved market sentiment, boosting buying interest in risk assets like cryptocurrencies. If the trade deal leads to reduced tariffs and improved global trade, increased corporate profits and overall liquidity in the financial markets could spill over into the cryptocurrency market. Bitcoin witnessed its best performance since January by surging near the $104,000 mark, pushing the overall crypto market higher.
Crypto prices today reflect growing optimism in digital assets fueled by macroeconomic factors such as trade diplomacy, institutional inflows, and on-chain data signaling increased adoption. Bitcoin trading near $104K and Ethereum's consistent strength over $2,500 show sustained bullishness. While altcoins like DOGE and ADA ride the momentum, technical indicators suggest caution. Market observers must remain aware of speculative behavior, especially in memecoins, while embracing the signs of a broader altcoin season.
