Crypto markets lifted as altcoins rally and tariff sentiment softens
📈 Altcoins lead gains – Immutable (IMX) and Fantom (FTM) surge 13% and 8%, outpacing Bitcoin and Ethereum.
🟢 Bitcoin hits multi-month high – BTC briefly hit $97.4K, its highest level since February.
🇨🇳 Tariff softening talks – Reports of possible US–China negotiations help buoy risk markets.
🛠️ Ethereum upgrade on horizon – The Pectra upgrade, Ethereum’s biggest since 2022, is scheduled for 7 May.
CRYPTOCURRENCY markets have improved overnight with altcoins showing some pep.
Bitcoin (BTC) and Ethereum (ETH) rose modestly, up between 1–2%, while smaller-caps like Immutable (IMX) and Fantom (FTM) rallied sharply, gaining 13% and 8% respectively. Bitcoin briefly touched $97,400 yesterday, its highest price since February.
Market sentiment appears to be improving. The Crypto Fear and Greed Index is inching higher, and Relative Strength Index (RSI) readings point to renewed bullish momentum without yet approaching overheated levels.
Commentators note that the rally may in part be driven by reports that the US is reportedly open to negotiations with China on recently imposed tariffs. President Trump’s shifting stance on trade policy has roiled markets in recent months, and even tentative signs of de-escalation appear to be fueling risk appetite.
Looking ahead, markets face a loaded economic calendar. The Federal Reserve’s interest rate decision on 7 May 7 is one to watch, with investors hoping for clarity on monetary policy direction amid lingering inflation concerns.
That same day, Ethereum is set to undergo its Pectra upgrade, the network’s most significant update since the 2022 transition to proof-of-stake. The upgrade is expected to enhance scalability and efficiency, and could have a material impact on market sentiment toward ETH.
In the markets…
🌍 Total crypto market cap ⬆️
The global cryptocurrency market capitalization is approximately $3.01 trillion, reflecting a 1.5% increase over the last 24 hours.
🟠 Bitcoin (BTC) ⬆️
Price: Currently trading at around $96,634, marking a 1.86% increase in the last 24 hours.
Daily high: Approximately $97,341
Daily low: Approximately $94,817
📈 S&P 500 ⬆️
The S&P 500 index is up about 0.63% since yesterday.
🙂 Fear & Greed Index
The Crypto Fear & Greed Index currently stands at 55/100, indicating a slight Greed sentiment among investors.
📊 Bitcoin Relative Strength Index (RSI) (14)
The RSI for Bitcoin is approximately 56, with 70 and above indicating an overbought position, while 30 and below indicates that the asset is oversold.
Post Script…
Cautionary Notes
It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.
