The cryptocurrency market had a volatile start to the week

The cryptocurrency market had a volatile start to the week on Monday, following a strong rally over the weekend

The cryptocurrency market experienced a volatile start to the week on Monday, following a strong rally over the weekend.

According to CoinGecko, the total cryptocurrency market capitalization dropped 3.1% on the day, reaching approximately $3.41 trillion.

According to CoinGlass, leveraged liquidations in the past 24 hours amounted to $714 million across 213,337 traders. BTC accounted for roughly $202 million and ETH for around $167 million. Meanwhile, altcoins contributed around $94 million.

U.S.-China tariff policies came into focus as the Trump administration announced a 90-day pause on tariffs for Chinese imports, beginning on May 1. This move, which had been anticipated by traders, brought some optimism to the market.

However, analysts noted that the slight pullback in BTC signals broader macro uncertainty.

“The US/China trade tariff hiatus signals a shift toward improved macro sentiment that will float all boats – especially crypto,” said Charles Wayn, co-founder of web3 growth platform Galxe.

Pointing to BTC’s approach to $105,000, Wayn noted that this could push Bitcoin to a new all-time high.

“Over the weekend, we also saw a huge rally in the altcoin sector, with ETH surging more than 30% in a much-needed recovery,” Wayn added. “This momentum, in tandem with Bitcoin’s rally, is a strong signal for the altcoin market and could spark a broader resurgence across web3.”

Bitcoin ETF Inflows Hit $335M

Spot Bitcoin exchange-traded funds (ETFs) recorded around $335 million in inflows on May 9, while spot Ethereum ETFs attracted approximately $18 million in inflows, according to SoSoValue data.

This follows renewed momentum in digital asset investment products last week, with eight products recording inflows totaling $882 million.

CoinShares noted that this marks the fourth consecutive week of net gains, bringing year-to-date inflows to $6.7 billion.

Bitcoin led the way with $867 million, as U.S.-listed ETFs hit a new record of $62.9 billion in cumulative net inflows since launching in January 2024.

​​Despite Ethereum’s price rally of more than 30% over the past week, it attracted just $1.5 million in inflows. Sui, however, recorded $11.7 million last week, overtaking Solana in year-to-date flows with $84 million versus Solana’s $76 million.

News data source: kdj.com

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