- Cryptocurrency market capitalization settles at $3.06 trillion, down 3% with over $100 billion in outflows in the last 24 hours.
- On Monday, US President Donald Trump announced 100% tariffs on foreign-made movies.
- Bitcoin and top altcoins like XRP, ETH and SOL fall to weekly lows on Monday, as investors react to Trump’s latest protectionist rhetoric.
Cryptocurrency market capitalization settled at $3.1 trillion on Monday, dipping 3% with outflows exceeding $100 billion in the last 24 hours. The market dip coincides with US President Donald Trump's latest calls for 100% tariffs on foreign-made movies, which sparked investors' skepticism across global markets.
Bitcoin market updates:
Bitcoin price plunged as low as $93,400 on Monday, down 5% from last week’s local top of $98,200, recorded on Friday.
Strategy purchased 1,895 BTC between April 28 and May 4, the company disclosed in a regulatory filing on Monday.
The acquisition increases Strategy’s total Bitcoin holdings to 555,450 BTC, representing 2.6% of the current total supply.
The $180 million purchase was financed through recent stock sales, with Strategy selling 353,825 shares of its Class A common stock (MSTR) and 575,392 shares of its Series A preferred stock (STRK), according to the Securities and Exchange Commission (SEC) filing.
Chart of the Day: BTC derivatives volumes surge 74% as traders brace for volatile week ahead
After a subdued weekend trading, Bitcoin traders now appear to be gearing up for short-term activity on Monday.
According to Coinglass data, Bitcoin derivatives volume soared 74.97% to $78.25 billion in 24 hours amid the 3% price dip.
This signals rising speculative activity as traders position for heightened volatility.
Bitcoin derivative market analysis
Despite the surge in trade volume, total open interest dipped 0.59% to $63.51 billion, suggesting that traders are actively covering their short positions rather than closing them out.
Options markets saw even stronger activity, with volumes up 104.93% to $2.15 billion.
However, the Long/Short account ratios across Binance and OKX remain below 1.0, hinting at cautious sentiment.
Top trader positions lean bullish (1.24), pointing to increased institutional activity amid growing macro and regulatory uncertainty.
Altcoin market updates: SUI emerges lone gainer as Trump Hollywood tariffs spark short-term panic
The global cryptocurrency market cap slipped 3% to $3.03 trillion as risk appetite weakened following a fresh statement from Donald Trump imposing 100% tariffs on movies made outside America.
Top-ranked altcoins, including Ethereum (ETH), Solana (SOL) and Ripple (XRP), saw moderate pullbacks around 1%, and low-cap assets reflected sharper losses as traders rotated capital into more liquid pairs amid weak market volumes.
In contrast, SUI defied the market dip, rising 5.1% to $3.44 on strong network activity and investor accumulation. With $1.5 billion in trading volume, SUI outperformed, becoming the day’s top gainer among the top 10 ranked cryptocurrencies.
Cryptocurrency market performance | Source: Coingecko
Meanwhile, AI-themed tokens like AI Companions and PolitiFi tokens, including the Official Trump coin, also saw increased activity, albeit with mixed performance, as traders speculated on politically driven narratives.
The surge in meme-adjacent sectors like Pump.fun and VICE further reflects short-term sentiment-driven plays.
With Bitcoin derivatives volumes rising 74% and bearish sentiment re-emerging after Trump’s latest tariff comments, crypto market participants are bracing for a turbulent week ahead.
Crypto news updates:
OKX relaunches Web3 DEX aggregator with new security upgrades after Lazarus-linked shutdown
OKX has relaunched its decentralized exchange aggregator, OKX Web3, following a security pause caused by misuse linked to the North Korean hacking group Lazarus.
The platform had been temporarily taken offline after identifying suspicious activity tied to the group’s known wallet addresses.
The updated version includes a real-time abuse detection and blocking system, enhanced on-chain analysis features, and a live database for tracking suspicious wallets.
Security audits for the upgrade were conducted by CertiK, Hacken, and SlowMist, reinforcing OKX’s compliance and counter-fraud infrastructure.
Michael Saylor pays tribute to Warren Buffett amid retirement announcement
MicroStrategy Executive Chairman Michael Saylor described Berkshire Hathaway as the "Bitcoin of the 20th century" during the firm’s annual shareholder meeting on Saturday.
The remark coincided with Warren Buffett’s announcement that he would step down as CEO of Berkshire by the end of the year, ending a 60-year tenure.
Berkshire Hathaway is 20th Century Bitcoin.
— Michael Saylor (@saylor) May 3, 2025
Buffett confirmed that Vice Chairman Greg Abel will take over as CEO starting in 2026.
Despite retiring from the role, the 94-year-old billionaire stated he will retain his shares and remain involved in some company affairs, according to CNBC.
Under Buffett’s leadership, Berkshire Hathaway achieved a 20% compounded annual return from 1965 through 2024.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Is Ethereum's comeback real?
Ethereum price hovers above $2,500 on Friday after soaring nearly 100% since early April's bottom. The ETH Pectra upgrade has boosted over 11,000 EIP-7702 authorizations in a week, indicating healthy uptake by wallets and dApps. The growing stablecoin usage and tokenization, Layer 2 institutionalization and ETH short unwind support the price rally.
Bitcoin Weekly Forecast: BTC stabilizes near $103,000 amid trade optimism, rising institutional demand
Bitcoin price stabilizes around $103,000 on Friday after facing multiple rejections at the key $105,000 resistance level throughout the week. Risk-on sentiment prevails, driven by global trade deals, strong corporate accumulation, and spot ETF inflows.
EOS price climbs as sentiment improves following $3 million purchase by President Trump's World Liberty Financial
EOS price rebounds from short-term support at $0.75, boosting bullish sentiment amid broader market consolidation. President Donald Trump's World Liberty Financial purchases $3 million worth of EOS at an average price of $0.82.
FTX creditors set to receive over $5 billion in recovery plan payout handled by Kraken and BitGo
Defunct crypto exchange FTX will distribute $5 billion to holders of allowed claims starting May 30. Creditors with completed pre-distribution requirements will receive between 54% and 120% of their original claims.
Bitcoin: BTC stabilizes near $103,000 amid trade optimism, rising institutional demand
Bitcoin (BTC) price stabilizes at around $103,000 when writing on Friday, after facing multiple rejections at the key $105,000 resistance level throughout the week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.