Bitcoin and Ethereum ended the week mixed but resilient, as improving risk appetite, strong institutional inflows and easing geopolitical concerns supported the broader crypto market from May 4 to May 8.
Bitcoin briefly surged above the US$80,000 mark on May 4 for the first time in three months, driven by renewed investor optimism and robust inflows into spot Bitcoin exchange-traded funds (ETFs). The world’s largest cryptocurrency climbed as high as US$80,526 during the week before easing back amid profit-taking activity.
By May 8, Bitcoin hovered around US$79,700 to US$80,000 as traders turned cautious over renewed Middle East tensions, although analysts said institutional demand continued to underpin prices.
Ethereum also posted a volatile week, rising above US$2,370 midweek before retreating below US$2,300 by May 8 as investors locked in gains. Despite the pullback, sentiment around Ethereum remained constructive amid improving ETF inflows and expectations of stronger institutional participation.
Market sentiment was further supported by expectations that major central banks could pivot towards easier monetary policy later this year, boosting appetite for risk assets including cryptocurrencies.
