Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Cardano – Asian Wrap 22 May
|Bitcoin punches new all-time high above $111,800 following brief shock from weak 20-year bond auction
Bitcoin (BTC) hit a new all-time high above $111,800 on Thursday, rebounding from a brief dip to $106,000. The surge followed weak demand in the US Treasury’s 20-year bond auction, which pushed yields above 5%, potentially shifting investor interest toward alternative assets like Bitcoin.
Ethereum Price Forecast: ETH sees rising buying pressure as it recovers the $2,500 mark
Ethereum (ETH) saw a 2% gain in the early Asian session on Thursday, recovering the $2,500 key level after whales stepped on the gas with their buying pressure. Ethereum's supply on exchanges extended its decline to 18.73 million ETH on Wednesday, indicating sustained spot market buying pressure. Since the metric began a downtrend on April 24, more than 1 million ETH have left exchanges to private wallets for potential long-term holding. As a result, ETH's supply on exchanges has reached its lowest level since August 2024.
Cardano holds bullish structure as stablecoin market cap surpasses $30 million with USDA launch
Cardano’s (ADA) price upholds strong bullish sentiment, trading at around $0.78 on Wednesday as cryptocurrencies broadly reach for higher highs. The smart contract token’s bullish outlook follows major milestones achieved in the first quarter, including enacting a new constitution, remarkable growth in its stablecoin market capitalization and diversity in the Decentralised Finance (DeFi) ecosystem.
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