Key Highlights
- Utya led CoinGecko’s 24-hour gainer board with a 99.4% rally, ahead of Dogs (+78.4%) and LAB (+62.9%).
- Bitcoin reclaimed $81,457 with a third straight day of US spot ETF inflows totalling $532.19M on May 4.
- Toncoin surged 26.9% on the day; Zcash extended its 7-day rally to 29.4% as the privacy narrative held firm.
On May 5th, the cryptocurrency market experienced a rebound, with Bitcoin climbing back over $81,000 and most major coins seeing price increases. Smaller, more volatile altcoins also saw significant gains, with Utya leading the way with a nearly 100% increase to $0.04145. Dogs, LAB, Small Thing, and wojak also performed well, rising by 78.4%, 62.9%, 43.4%, and 38.4% respectively.
We’ve seen a lot of changes in leading cryptocurrencies this past week. AIOT and SkyAI were strong performers on May 3rd and 4th, but TAGGER, which saw an 88.1% increase on May 2nd, is now down 13.7%. Today, newer, smaller cryptocurrencies are gaining the most attention. Overall, the crypto market is up 2.6% over the last 24 hours, reaching a total value of $2.77 trillion with $104 billion in trades. Bitcoin currently accounts for 58.8% of the market, while Ethereum makes up 10.4%.
| Top gainers | Price | 24h volume | 24h move |
| Utya | $0.04145 | $4.67M | +99.4% |
| Dogs | $0.00006189 | $346.72M | +78.4% |
| LAB | $2.67 | $102.30M | +62.9% |
| Small Thing | $0.002594 | $57.45K | +43.4% |
| wojak | $0.0000001302 | $11.30M | +38.4% |
Toncoin and large-cap altcoins join the move
Today’s top-performing cryptocurrencies include Toncoin, which surged 26.9% to $1.83 with $281.17 million in trades, along with MemeCore, up 27.3%, and Morpho, which rose 13.0%. These coins are now among the top 100 largest by market capitalization, a significant change from the previous session where leadership came from smaller, lesser-known coins.
Hyperliquid (HYPE) increased by 6.8% to $43.89, while Pudgy Penguins saw a 16.4% jump to $0.01163. Dash continued its upward trend, rising 3.8% daily and 30.4% over the past week. What’s different about the price increases on May 5th is that gains aren’t limited to just very small, lesser-known cryptocurrencies – the market is seeing broader growth.
Bitcoin reclaims $81K as ETF inflows extend streak
As a crypto investor, I was happy to see some strong gains today, May 5th! Bitcoin hit $81,457, which is its highest price since late January – up over 3% in the last 24 hours and almost 7% for the week. It wasn’t just Bitcoin though; Ether also did well, climbing to $2,391.89, a nearly 2.3% increase. I also saw gains in XRP, BNB, and Solana – they went up by 1.3%, 1.3%, and 1.8% respectively. Overall, a really positive day for the portfolio!
| Asset | Price | 24h move | 7d move |
| Bitcoin | $81,457.28 | +3.2% | +6.7% |
| Ethereum | $2,391.89 | +2.3% | +5.2% |
| XRP | $1.41 | +1.3% | +2.5% |
| BNB | $631.89 | +1.3% | +1.7% |
| Solana | $85.67 | +1.8% | +2.8% |
While global risks like tensions between the U.S. and Iran, and high oil prices, haven’t lessened, Bitcoin is becoming less connected to those concerns. Traders who recently bet on a Bitcoin price increase are now likely to profit from even a slow and steady climb, and indicators suggest a sustained price above $80,000 would be a positive sign not seen since January.
Privacy-focused cryptocurrencies are currently performing very well, especially among the larger market cap coins. Zcash increased by 4.1% to $431.57, with gains of 29.4% over the past week and 77.1% over the last month. Monero also saw a 5.1% increase, reaching $412.42, and is up 26.2% over the last 30 days. These two are leading the way as investors move money into privacy coins, boosted by Bitcoin’s recent recovery.
Top losers show the rotation cuts both ways
While some tokens saw gains, there were also significant losses, even among those that had performed well recently. Block Street plummeted 30.9%, Precious Metals USD lost 26.3%, Rosa Inu decreased 18.9%, and LoveBit fell 17.2%. Notably, TAGGER, which was the top gainer on May 2 with an 88.1% increase, experienced a 13.7% drop, falling to $0.001372.
| Top losers | Price | 24h volume | 24h move |
| Block Street (BSB) | $0.6131 | $55.51M | -30.9% |
| Precious Metals USD | $0.5191 | $2.82M | -26.3% |
| Rosa Inu | $0.0004425 | $7.22M | -18.9% |
| LoveBit | $0.000001904 | $89.34K | -17.2% |
| TAGGER | $0.001372 | $41.14M | -13.7% |
TAGGER’s price swing – jumping 88.1% on May 2nd, then falling to a 13.7% loss by May 5th – perfectly shows how quickly money is moving between cryptocurrencies. This token went from being one of the biggest gainers to near the middle of the losing list in just three days, highlighting that investors are quickly cashing in on profits when high-risk altcoins lose steam.
Spot Bitcoin ETFs extend inflow streak to third day
Bitcoin prices recovered, helped by strong demand for exchange-traded funds (ETFs). U.S. Bitcoin ETFs saw a net inflow of $532.19 million on May 4th, marking the third day in a row of positive flows. Total net inflows for all 13 ETFs now reach $59.3 billion. BlackRock’s IBIT led the way with $335.46 million, followed by Fidelity’s FBTC at $184.57 million and Morgan Stanley’s MSBT with $12.16 million. The other ten ETFs didn’t report any inflows or outflows.
Over the past three days, investments have increased by a total of $1.18 billion. This follows inflows of $629.7 million on May 1st and $14.8 million on April 30th.
Ethereum ETFs continued to see positive investment on May 4th, with a total net inflow of $61.3 million, according to data from Farside Investors. BlackRock’s ETHA ETF accounted for $54.8 million of that inflow, and Fidelity’s FETH ETF brought in another $6.5 million.
| ETF category | Latest flow date | Net flow |
| Bitcoin ETFs | May 4 | +$532.19M |
| Ethereum ETFs | May 4 | +$61.3M |
| BTC cumulative inflows | All-time | $59.3B |
Shorts pay the bill on the BTC reclaim
Data on derivative trading shows that the recent price increase surprised many who were betting against it. According to CoinGlass, over 97,000 traders were forced to close their positions on May 4th, resulting in $370 million in total crypto liquidations. A significant $301.93 million of these liquidations came from traders who had bet against the market (short positions), indicating a strong bearish sentiment before the price surged. These short positions were liquidated about four times more often than long positions.
Trading activity in Bitcoin futures increased significantly, reaching 763,350 BTC, up from 707,240 BTC at the beginning of May. Ethereum futures also saw a rise in trading, hitting 14.17 million ETH – a level not seen since April 18th. Both Bitcoin and Ethereum are currently attracting positive funding rates, indicating bullish sentiment.
| Leverage metric | Reading |
| 24h crypto liquidations | $370M |
| Traders liquidated | 97,235 |
| Short liquidations | $301.93M |
| BTC futures OI | 763.35K BTC |
| ETH futures OI | 14.17M ETH |
Levels to watch
Right now, the key price for Bitcoin is $80,000. If the price stays above this level at the end of the day, it confirms a breakout. However, if it falls back below $80,000, we could see the price drop back to around $77,000, where it was in late April. Bitcoin recently hit $81,457, so the next important thing to watch is whether traders will defend the $80,000 level leading up to the release of the jobs report on Friday.
Ethereum is currently facing strong resistance around $2,400. Trading data indicates a large number of sell orders between $2,350 and $2,500. Despite a 2.3% price increase today, the overall trend remains uncertain until Ethereum can consistently stay above $2,400.
When it comes to altcoins, recent price increases are a key indicator. The fact that both Toncoin and MemeCore have seen gains of over 25% in the last 24 hours – and that they’re both in the top 25 altcoins by market capitalization – is the first sign in weeks that larger altcoins, not just very small ones, are starting to rise in value. If this trend continues for several days, we could see a broader rally in the altcoin market.
Market outlook
The cryptocurrency market looks particularly promising on May 5th – it’s the strongest bullish signal we’ve seen in over a month. Bitcoin has climbed back above $81,000, and exchange-traded funds (ETFs) have seen consistent inflows for three days in a row. What’s encouraging is that gains are now spreading to larger, more established cryptocurrencies, not just smaller, riskier ones. Ethereum and XRP are also rising in value, and privacy-focused coins like Zcash and Monero are leading the way with particularly strong performance.
Currently, the biggest risk in the market is excessive leverage. Trading activity (open interest) is rapidly increasing for both Bitcoin and Ethereum, and traders are paying to hold long positions (positive funding rates). This combination could significantly exaggerate any price movement – a sustained price above $81,000 for Bitcoin could lead to further gains, but a drop from here would likely force many traders to quickly close their positions, resulting in losses. The upcoming U.S. jobs report on Friday is the next major economic event that could influence the market.
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2026-05-05 21:41