Bitcoin surged past the US$81,000 mark on May 6, extending a multi-day rally and anchoring fresh momentum in the crypto market, while Ethereum posted modest gains amid leveraged buying, together signalling renewed but cautious investor optimism.
The world’s largest cryptocurrency climbed as much as 1.5% in the past 24 hours and is now up roughly 17% over the past month, buoyed by improving sentiment around regulatory clarity in the US.
Meanwhile, Ethereum rose about 1% to hover in the mid-US$2,300 range, supported by short squeezes and increased trading activity, indicating strengthening demand despite lingering resistance levels.
The broader crypto market, however, remains fragile. Despite the rally, analysts warn that macroeconomic and geopolitical uncertainties, including Middle East tensions and interest rate concerns, continue to cap upside momentum.
Adding to the mixed picture, cryptocurrencies showed slight declines alongside global markets earlier in the day as investors reacted to shifting geopolitical developments and risk sentiment.
Still, the rebound above the US$80,000 threshold marks a key turning point for Bitcoin, with a six-day winning streak highlighting renewed institutional and retail interest.
For now, the market narrative is clear: Momentum is back but conviction remains tentative.
