Daily Market Dispatch – May 9, 2025. Overview.

09 May 2025, 15:01

Daily Market Dispatch – May 9, 2025 Overview Crypto markets led assets higher on Thursday, with Bitcoin breaking above $100,000 and total crypto market capitalization surging to $3.27 trillion, its highest since February. The rally marked one of the strongest sessions for digital assets this year, fueled by improving sentiment around global trade and macro stability. U.S. equities also gained, lifted by a new U.S.-U.K. trade framework and optimism ahead of this weekend’s U.S.-China talks in Switzerland. But sentiment faded late Thursday after President Trump posted a cryptic comment suggesting an “80% tariff on China,” trimming gains in S&P 500 futures. With the White House now signaling a possible reduction in tariffs as part of broader negotiations, markets head into the weekend cautiously optimistic, anchored by crypto strength, stable Fed policy, and evolving trade diplomacy. Bitcoin Bitcoin extended its breakout, hitting $104,000 before consolidating around $103,000 – its highest level since February. The percentage of addresses in profit has climbed above 98%, while open interest remains elevated above $30 billion, reflecting strong institutional participation. ETF inflows cooled from their April surge but remained steady. $260 million flowed into U.S. spot Bitcoin ETFs over May 7–8. BlackRock’s IBIT slowed to a quarter of its usual pace, while Fidelity’s FBTC gained share, suggesting a shift in fund-level positioning. Futures activity picked up sharply, with open interest rising 5–10% across major tokens. The question now: can $100K flip from resistance to support? Weekend trade talks and next week’s macro data may prove decisive for whether Bitcoin pushes toward new all-time highs. Ethereum & Altcoins Ethereum (ETH) jumped over 20% to above $2,200 on Thursday – its largest single-day rally since May 2021 – following the successful launch of the Pectra upgrade, which boosted staking, validator performance, and Layer 2 functionality. Sentiment flipped more constructive as ETH/BTC rebounded. Altcoins broadly rallied. Solana, Cardano, and Dogecoin posted double-digit gains, while XRP and BNB rose more modestly. In institutional news, Wellgistics Health said it would use XRP for real-time payments and treasury operations – one of the first public firms to make such a move. Macro & Institutional Markets opened Friday steady, with eyes on the upcoming U.S.-China trade talks. Thursday’s U.S.-U.K. trade deal – including lower British tariffs and a $10 billion Boeing order – sparked optimism, though the 10% U.S. tariff on British goods remains. This weekend’s talks with China, currently facing 145% U.S. duties, could bring a shift. Early reports suggest Washington may propose reducing tariffs below 60%, though Trump’s vague “80% tariff” post added to the confusion. Beijing, for its part, continues to push back, but has agreed to meet in Switzerland. Meanwhile, Nvidia is preparing a downgraded China-focused AI chip to comply with U.S. export rules – another signal of ongoing geopolitical strain affecting tech and capital flows. Looking Ahead This weekend’s U.S.-China trade talks may shift the tone heading into next week’s packed macro calendar: U.S. CPI on Tuesday, followed by Eurozone GDP, U.S. PPI, jobless claims, and a Powell speech on Thursday. Retail sales will round out the week. With Bitcoin holding six figures and altcoins regaining momentum, risk assets appear well-positioned – but vulnerable. QT remains a headwind, and macro data must align with expectations to keep the rally going. With that, Bitcoin’s allure as a global economic hedge has strengthened with this latest surge. Sustaining that status will depend on whether flows and fundamentals continue to align. Markets have moved from reactive repricing to cautious positioning – now they need validation. – Iliya Kalchev, Nexo Dispatch analyst For informational purposes only; not financial or investment advice.

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