BANGALURU: Despite uncertainty in global trade policies, the crypto market maintained its upward momentum in May 2025 as it gained 10.3% month-on-month, according to Binance Research, the research and analysis arm of Binance.
Bitcoin performed strongly as it surged 11.1% in May and reached an all-time high of $111,970 before experiencing a slide for the fourth day in a row on Friday.
Riya Sehgal, Research Analyst, Delta Exchange said Bitcoin’s breakdown below the $105K–$106K support zone and rejection at $110.5K confirm a short-term trend reversal. Price structure shows a clean lower high and lower low, with $103K under pressure. A failure here exposes $101.5K and $100K.
"Ethereum is showing relative weakness, retracing from $2,860 to $2,500, breaking below recent support at $2,640. Structure invalidated, with downside risk toward $2,460 and $2,360 if $2,500 fails to hold. The sell-off follows geopolitical escalation in the Middle East, triggering over $1.4B in liquidations, predominantly long positions. Crypto moved in tandem with broader risk-off sentiment, while oil surged over 7%. Despite near-term technical weakness, ETF flows remain constructive. BlackRock’s spot ETFs added 2,650 BTC and 36,640 ETH on June 12," he added.
On Friday, Bitcoin was trading below $1,05,000, down nearly 1% over the last 24 hours.
Binance Research also points out that Ethereum (ETH) rebounded sharply with a 43.9% gain in May, driven by the successful implementation of its Pectra upgrade.
"The upgrade improved scalability, security, and developer experience, instilling fresh investor confidence in Ethereum's long-term viability," it said.
Altcoins also participated in the rally. Dogecoin (DOGE) jumped 12.9% following 21Shares’ filing for a spot DOGE ETF, which helped drive a 528% increase in active addresses.
"Despite persistent global macroeconomic turmoil, the May insights underline crypto's growing resilience and maturity. We are seeing unprecedented levels of corporate participation, increased institutional demand, and greater integration of blockchain technology into financial and enterprise processes. This momentum is not only about growing prices, but also signals rising confidence in digital assets as a vital part of the global financial ecosystem," said Kushal Manupati, Regional Growth & Ops Lead of South Asia, Binance.
Meanwhile, the country's largest crypto exchange CoinDCX recorded a 32% increase in spot trading volumes, rising to $492 million in May, up from $374 million in April. The exchange attributed this recovery to the growing confidence among users.
CoinDCX holds a total of USDT 606.61 million in assets. Of this, USDT 448.99 million is held on blockchain.