Original | Odaily Planet Daily ( @OdailyChina )
Author: Wenser ( @wenser 2010 )
With the frequent favorable market policies, the crypto market has finally gradually recovered, and altcoins have also ushered in their second spring, among which Meme coins have performed particularly well: OKX market data shows that MOODENG, GOAT, WIF, BOME, and MEW have increased by 123.09%, 57.36%, 26.24%, 24.84%, and 22.64% in 24 hours, respectively. This wave of rises with BTC, ETH, and SOL has made many diamond hands shout back, all back; on the other hand, they are bleeding in their hearts as they watch their positions retreat a lot. As for the future market trend, Odaily Planet Daily will sort out and summarize the recent market growth drivers and representative industry views in this article for readers reference.
Direct macro benefits: China and the United States shake hands and make peace, and the Federal Reserve releases expectations of interest rate cuts
The most direct cause of the recent surge in the market is undoubtedly the tariff and business negotiations between China and the United States. In addition, thanks to a series of Trumps previous actions, the Federal Reserve no longer maintains its usual tough stance in the face of the potential for economic recession. With the loosening of its tone, expectations for interest rate cuts this year have increased sharply. The favorable policies have made the market turn bullish, and the buying force has quickly overwhelmed the selling force.
China and the United States reached substantial progress
This morning Beijing time, the White House announced that the United States announced a trade agreement with China in Geneva. U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Ambassador Jamieson said that the negotiations were held in Geneva, Switzerland for two days and made substantial progress. Both sides were satisfied with the results of the negotiations, believing that the differences were not as big as imagined and the agreement was reached quickly. U.S. officials expressed optimism about the agreement, believing that it would help solve the trade deficit problem. He Lifeng, the Chinese leader of Sino-U.S. economic and trade and vice premier of the State Council, also said at the press conference that the high-level Sino-U.S. economic and trade talks were candid, in-depth, and constructive, reaching important consensus and making substantial progress. Both sides agreed to establish a Sino-U.S. economic and trade consultation mechanism.
After the previous farce of 154% high tariff, China and the United States finally sat down again to negotiate calmly and reached a phased consensus, which undoubtedly gave a reassurance to the economies of the two countries and the cryptocurrency market.
The Fed is softening its tone and is expected to cut interest rates this year
On May 8, Fed Chairman Powell said that in some cases it would be appropriate to cut interest rates this year, and in some cases it would be inappropriate to cut interest rates, and I cannot confidently say that I know the appropriate interest rate path. At that time, based on futures prices, the probability of a rate cut by July was about 75% .
At the same time, Federal Reserve Board Governor Kugler previously stated that there are upside risks to both inflation and unemployment, and the economy may slow down in the short term. On the other hand, Federal Reserve mouthpiece Nick Timiraos analyzed and pointed out that Federal Reserve Chairman Powell downplayed expectations of alleviating economic weakness that may be caused by Trumps tariffs through interest rate cuts. The latter hinted that the Fed will only consider cutting interest rates, and possibly quickly, after seeing evidence of a significant slowdown in economic growth.
Overall, the possibility of the Federal Reserve cutting interest rates in the second half of this year has greatly increased, thereby further repairing the previously oversold market sentiment.
Institutions continue to buy BTC: listed companies become the main players in hoarding coins, and BlackRock is far ahead
As the most prominent BTC buying group in this cycle, listed companies have become one of the fastest growing groups in terms of the number of coins held in the crypto market; asset management institutions and ETF index funds are also in a rapid growth stage.
Metaplanet increased its holdings of 1,241 BTC today, worth about $182 million
Metaplanet, a Japanese listed company, increased its holdings by 1,241 BTC, worth about $182 million. As of now , the company holds a total of 6,796 BTC, worth about $704 million.
Strategy continues to buy, with annual returns exceeding 14%
Michael Saylor, founder of Strategy, released information about Bitcoin Tracker again last night. According to previous rules, Strategy always discloses information about increasing its holdings of Bitcoin the day after the relevant news is released.
On May 5, Strategy purchased 1,895 bitcoins at $95,167 between April 28 and May 4 (total: $180.3 million). At the same time, it said that as of 2025, the return on bitcoin has reached 14.0%. As of May 4, 2025, it holds 555,450 bitcoins BTC, with an average cost of $68,550 and a total value of $38.08 billion.
Indian listed company Jetking enters BTC market, aims to hold 18,000 coins by 2030
Harsh Bharwani, CEO of Indian listed company Jetking, previously stated that the company plans to gradually increase its holdings of BTC through a variety of financing tools, with the goal of holding 18,000 BTC by 2030. He revealed that the fundraising will be expanded to about 180 BTC in the next six months, and the goal will be 1,800 BTC in the next year, and the final holding plan will be completed by 2030.
BlackRock recently increased its holdings by 5,613 BTC, and its total Bitcoin holdings have exceeded 620,000
According to Lookonchain, on May 6, BlackRock increased its holdings by 5,613 BTC, worth $529.5 million. The total Bitcoin holdings have now exceeded 620,000, reaching 620,252 BTC, worth $58.51 billion. Since April 21, BlackRock has bought a total of 47,064 BTC.
On May 7 , BlackRocks Spot Bitcoin ETF (IBIT) still ranked sixth in the U.S. ETF funding list with a net inflow of US$6.96 billion, surpassing the worlds largest gold ETF (GLD) of US$6.5 billion.
New additions: Futu opens BTC, ETH, and USDT deposit functions, and traditional financial applications are connected to the encryption system
In addition to the above-mentioned buying power, the most eye-catching new variable in the recent crypto market is undoubtedly the Futu APP, a traditional financial application, has opened BTC, ETH, and USDT recharge functions.
Futu launches BTC, ETH, and USDT deposit functions
Last week, Futu Securities International (Hong Kong) Co., Ltd. announced that it has officially launched Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) recharge services. After qualified investors complete recharges and trade cryptocurrencies (Crypto) through the one-stop trading platform Futu Niu Niu to obtain funds, they can invest in more asset categories or withdraw cash safely. Investors can play with Crypto+TradFi assets (traditional financial assets, including Hong Kong, US and Japanese stocks, options, ETFs, funds, bonds and other diversified assets) through an App, and quickly switch between virtual and traditional asset markets.
Copycat Season or Copycat G? The market is divided and still in the oversold recovery stage
As BTC, ETH, and SOL experienced a small fluctuation and decline after the recent sharp rise, the crypto markets enthusiasm for the altcoin season has been rekindled. As for whether we are about to enter the altcoin season, the opinions of industry representatives are quite different. Some people believe that altcoins will continue to attract the overflow liquidity of mainstream coins such as BTC and ETH as in the past, and then usher in an increase; but some analysts believe that altcoins have fallen by 80%-90% compared with the highs in January this year and before, and the performance in recent days is only a dead cat bounce rebound.
Bullish: Trader Eugene expects a strong rebound in altcoins
Last Saturday, trader Eugene Ng Ah Sio wrote that although he correctly judged the rising direction this time, he was stopped out of losses in advance, and the actual return was not good. Looking ahead, the rise to $100,000 confirmed the previous support reversal of $90,000. Now the market is likely to hit a new record high again, which was not originally expected, but funds from micro-strategies and ETFs seem to be endless.
In contrast, until yesterday, most of the old players in the cryptocurrency circle were still waiting and watching (or even shorting). As the expectations of historical highs have rekindled the markets enthusiasm, the total market value of altcoins is expected to rebound strongly.
Bullish: Analysts say the mainstream market is short-term traders, and the altcoin season has arrived
Analyst 2 Lambroz believes that the peak season for altcoins may have arrived, but he said that market dynamics have changed. People want to buy, but lack confidence in any strong narrative. He pointed out that unlike 2021, there are no signs of retail investors entering the market. Traders are turning over funds more quickly and have little incentive to hold long-term positions. Technical trader Moustache is more optimistic. He shared a chart showing that altcoins have repeatedly experienced accumulation phases, followed by explosive growth. According to his analysis, the current structure is similar to that in 2016 and 2020. The 2025 altcoin season has officially begun.
Neutral: The founder of CryptoQuant said that the previous judgment was wrong and that we should pay attention to the incremental funds from institutions
Ki Young Ju, founder of CryptoQuant, said in a post that his judgment two months ago that the BTC bull market was over was wrong. Current on-chain data shows that BTC selling pressure is easing, and at the same time, large-scale inflows of institutional funds such as ETFs are driving changes in the market structure. He pointed out that in the past, the Bitcoin market was mainly composed of old whales, miners and retail investors, and the top of the cycle was easier to judge; but now with the participation of ETFs, MicroStrategy, institutions and government entities, the traditional logic of whale shipments triggering the top is failing. Ki emphasized that in the new environment, more attention should be paid to the incremental institutional funds flowing in, rather than the old selling pressure signals.
Bears: Altcoins are down 90%, it’s too early for the golden age
Meanwhile, skeptics remain. Commentator Rekt Fencer noted that most altcoins are down 90% since December. This week’s modest 10% rebound has sparked excessive optimism, prompting him to scoff at the rally. “This is the golden age of altcoins we’ve been waiting for.”
Summary: A small rebound in Meme coins does not mean the arrival of the alt season
According to Coingecko data , BTCs current market share remains at nearly 60%. Overall, it is still difficult to say that we have entered the alt season. Instead, the previous description of Altcoin G is more appropriate. Currently, most of the currencies with good growth are also showing local bull market.
As Arthur Hayes said in early May, The question I get asked most these days is, when does copycat season start? And the answer is that sometimes its right before your eyes. HYPE.
