| Bitcoin Eyes $105K As Demand Surges Institutional interest in Bitcoin is showing no signs of slowing down. On May 9th, Coinbase recorded its highest single-day Bitcoin outflow of the year. According to André Dragosch, Head of European Research at Bitwise, Coinbase saw 9,739 BTC withdrawn on May 9th, equivalent to more than $1 billion at the time, as Bitcoin traded above the $103,600 mark. This massive movement represents the largest net Bitcoin outflow in 2025 thus far, underlining a notable shift in Bitcoin’s user base from retail investors to more long-term, institutional holders. The surge in Bitcoin withdrawals also closely followed a major geopolitical development: the White House’s announcement of a 90-day reduction in reciprocal tariffs between the U.S. and China.
Crypto Charts Signal Major Altcoin Rally Multiple technical indicators are hinting that an 'altseason', a period when altcoins substantially outperform Bitcoin, could soon be underway. Data from key market charts suggests that May 2025 might mark the beginning of a broader altcoin surge, driven by capital rotation and bullish price structures. The TOTAL2 chart, which tracks the total market capitalization of all cryptocurrencies excluding Bitcoin, has recently broken out above a long-standing downtrend line that’s been in place since January 2025. Put simply, this kind of technical breakout is usually accompanied by a bullish break of structure (BOS) on the daily timeframe, marked by a sequence of higher lows.
Dogecoin Records $4.7 Billion In Daily Trading Volume Dogecoin has shown exceptional strength in May, delivering its best monthly performance of the year with a 38% price increase. According to CoinGecko, DOGE recorded a staggering $4.7 billion in 24-hour trading volume, placing it fifth among the most traded cryptocurrencies (excluding stablecoins). The meme coin’s growing momentum is underpinned by robust on-chain data, technical patterns, and positive sentiment from both retail and long-term investors. DOGE’s 90-day spot taker cumulative volume delta (CVD) also entered a “taker buyer dominant” phase. This metric, which tracks the net buying and selling volume on spot markets, showed that aggressive buyers are currently outpacing sellers, a pattern reminiscent of the late 2024 rally when Dogecoin soared by 385% to $0.48.
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