Americas Crypto Market Update: SUI and STX Lead Gains as Investors Prepare for Potential Price Increases

By Omkar Godbole (All times are in Eastern Time unless specified otherwise) Following a brief pause near $94,000 after dropping to $92,000 over the past two days, Bitcoin (BTC) is currently valued at $85,241.86. Earlier this week, the cryptocurrency achieved a bullish breakout above a key resistance level, shifting focus towards the $100,000 mark and leaving major altcoins such as XRP, ETH, SOL, ADA, and DOGE behind. However, smaller coins like STX, SUI, ONDO, and GRT have seen double-digit gains over the past 24 hours, outperforming both BTC and the broader market: The CoinDesk 20 Index (CD20) has seen a 3% increase. The $20,000 surge in BTC since April 7 has been driven by increased on-chain accumulation by whales and significant inflows through spot ETFs. According to Farside Investors, the 11 U.S.-listed funds have accumulated nearly $1.5 billion in net inflows over the past three days. Market gains have been supported by recent policy developments in the U.S. On Thursday, the Federal Reserve lifted its restrictive crypto guidance, stating that state member banks no longer need to provide advance notice before engaging in crypto-related activities. "Current market internals suggest a consolidation phase — our base case predicts accumulation between $90,000 and $95,000, with potential pullbacks to $87,000, ahead of a possible breakout towards $100,000 or more in the coming weeks," said Valentin Fournier, lead research analyst at BRN. QCP Capital echoed this sentiment, noting that a decisive catalyst is needed to push prices above $100,000. Later today, the University of Michigan will release its final survey-based inflation expectations report for April. Given President Donald Trump's trade war, which has fueled Main Street inflation concerns, the report is likely to show an increase. However, the market may have already priced in these fears earlier this month and is likely focusing on next week's U.S. jobs data. "The next significant chapter will be whether this volatility has impacted real-world decisions, particularly in the U.S. jobs market. With plenty of U.S. jobs data scheduled for release next week, any deterioration could trigger another round of dollar losses — albeit a more benign dollar decline, given the view that the Federal Reserve would intervene after all," according to ING. "In terms of Fed pricing, the market now appears comfortable with pricing the first cut in July — potentially once it is clear whether the 90-day pause in Liberation Day tariffs is temporary or longer-lasting," it said. Remain alert. Key Events to Watch Token Events Upcoming Conferences: CoinDesk's Consensus will take place in Toronto on May 14-16. Use the code DAYBOOK to save 15% on passes. Token Talk By Shaurya Malwa Derivatives Positioning Market Movements Bitcoin Statistics: Technical Analysis Crypto Equities ETF Flows Spot BTC ETFs: Spot ETH ETFs Source: Farside Investors Overnight Flows Chart of the Day While You Were Sleeping In the Ether