Market Overview
On May 29, the global cryptocurrency market saw a slight pullback, with total market capitalization dipping by 0.26% to $3.42 trillion.
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Bitcoin (BTC) slid 0.3% to $108,588, as profit-taking weighed on sentiment after recent all-time highs.
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Ethereum (ETH) bucked the trend, surging 3.4% to $2,732, driven by robust DeFi activity and institutional inflows.
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XRP, Solana (SOL) and other major altcoins traded mixed, with most seeing less than a 1% move.
Crypto Market Sentiment
As of May 30, 2025, the cryptocurrency market sentiment remains in the Greed zone, with the Crypto Fear & Greed Index registering a score of 61. Despite this optimistic sentiment, the market experienced a notable downturn today.
Key Developments
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SEC Dismisses Lawsuit Against Binance
The U.S. Securities and Exchange Commission voluntarily dropped its long-running 2023 case against Binance and founder Changpeng Zhao, dismissing the suit with prejudice. This landmark move underscores a regulatory thaw under the new administration and is being hailed as a win for crypto innovation.
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Record Inflows into Spot ETH ETFs
Institutional appetite for Ethereum reached new heights, with spot ETH exchange-traded funds logging record inflows. Analysts link this surge to growing confidence in Ethereum’s role in DeFi and upcoming network upgrades. -
Corporate Treasury Accumulation
Major publicly traded companies—including GameStop and Trump Media—announced fresh Bitcoin acquisitions, mirroring MicroStrategy’s continued strategy of using BTC as a treasury hedge against inflation.
Outlook
Despite yesterday’s mild pullback, the digital currency industry remains underpinned by strong institutional demand, evolving regulatory clarity, and resilient market sentiment. Traders and investors should monitor sentiment indicators and regulatory announcements closely as potential catalysts for the next market move.
