Cardano

Bitcoin

Chainlink

Spot

Crypto Market Analysis: The leading cryptocurrency Bitcoin currently trades at $67261 with a 24-hour gain of 1.48%. The rising <a href="https://coingape.com/price-predictions/bitcoin-btc-price-prediction/" rel="noopener noreferrer nofollow">BTC price</a> projecting no signs of oversupply indicates the buyers could drive a higher rally. Similarly, the altcoin market is riding this momentum, indicating that the post-halving rally is gradually gaining strength.
The latest data from <a rel="noopener noreferrer nofollow" href="https://x.com/santimentfeed/status/1791506842784526623?t=BhHr9HoEHihHeIiQUZcGvg&amp;s=35">Santiment</a>, a leading crypto analytics firm, reveals a significant shift in market sentiment towards Bitcoin (BTC) and Chainlink (LINK). According to Santiment’s recent analysis, the crowd’s sentiment has turned bullish for Bitcoin following its unexpected rise above $66,000 on Wednesday, with the price now exceeding $67,200.&nbsp;
Furthermore, Chainlink has also seen a remarkable increase in positive sentiment. Santiment reports that LINK’s bullish sentiment has reached its highest level in over a year, driven by a 17% price jump within 24 hours. This surge has sparked renewed interest and optimism among traders and investors alike.
Also Read: <a href="https://coingape.com/spot-bitcoin-etfs-net-1-3b-in-may-reversing-aprils-344m-outflows/" rel="noopener noreferrer nofollow">Spot Bitcoin ETFs Net $1.3B in May, Reversing April’s $344M Outflows</a>
<h2 id="1-crypto-market-analysis-bitcoin-btc">1) Crypto Market Analysis- Bitcoin (BTC)</h2>
Launched in 2009, Bitcoin operates on a decentralized peer-to-peer network, allowing users to transact directly without intermediaries. In the past three weeks, the BTC showcased a renewed recovery trend with price jumping from $56000 to $67322 registering a 19% growth.&nbsp;
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/c/CA1Yr8D9.png" alt="BITSTAMP:BTCUSD Chart " width="1946" height="937">
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 Bitcoin (BTC)| Tradingview
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The rally backed by a surge in trading volume and the development of a higher low formation indicates the market sentiment is shifting toward buying dips. <a href="https://coingape.com/bitcoin-supply-on-exchanges-falls-as-bullish-pressure-mounts/" rel="noopener noreferrer nofollow">Bitcoin</a> currently holds a market cap of $1.32 Trillion, while the trading volume plunged 21% to hit $24.6 Billion.&nbsp;
Amid the recent price surge, the BTC price gave a decisive breakout from the wedge pattern which carried the last correction. The asset rising for two convective days indicates a suitable follow-up to the recent breakout signaling the potential rally to $73800.&nbsp;
Also Read: <a href="https://coingape.com/bitcoin-supply-on-exchanges-falls-as-bullish-pressure-mounts/" rel="noopener noreferrer nofollow">Bitcoin Supply on Exchanges Falls as Bullish Pressure Mounts</a>
<h2 id="span-style-font-weight-400-2-cardano-ada-span">2) Cardano (ADA)</h2>
<a href="https://coingape.com/markets/cardano-price-prediction-how-high-can-ada-go-after-recent-surge-in-defi-tvl/" rel="noopener noreferrer nofollow">Cardano</a> is a third-generation blockchain platform that aims to provide a more secure and scalable infrastructure for the development of decentralized applications (dApps) and smart contracts.
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/f/F8KlvG0I.png" alt="BINANCE:ADAUSDT Chart " width="1946" height="937">
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 Cardano (ADA)| Tradingview
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The <a href="https://coingape.com/price/cardano/" rel="noopener noreferrer nofollow">ADA price</a> rising for four consecutive days showcases a price rally from $0.426 to $0.48 which accounts for 13.5% growth. This recovery past the last swing high resistance of $0.476 indicates a change in market dynamic and provides buyers with suitable support to lead a higher rally.
By the press time, the Cardano coin was worth $17.6 Billion, while maintaining the position of tenth largest cryptocurrency.
If the breakout sustains, the buyers could drive a rally to $0.52, followed by $0.56.
Also Read: <a href="https://coingape.com/cardano-news-addresses-with-2-7b-ada-hit-break-even-after-ada-btc-bottoms-out/" rel="noopener noreferrer nofollow">Cardano Addresses With $2.7B ADA Hit Break Even As ADA/BTC Bottoms Out</a>
<h2 id="b-3-chainlink-link-b">3) Chainlink (LINK)</h2>
<a href="https://coingape.com/blog/what-will-be-my-portfolio-if-chainlink-price-hits-50/" rel="noopener noreferrer nofollow">Chainlink</a> is a decentralized oracle network that connects smart contracts with real-world data, APIs, and payment systems, enabling smart contracts to interact with external data sources in a secure and reliable manner.
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/7/7VHs0Tmc.png" alt="BINANCE:LINKUSDT Chart " width="1946" height="937">
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 Chainlink (LINK)| Tradingview
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The Chainlink coin outperforms several major altcoins this week with its notable recovery from $12.8 to $16.14 and active whale accumulation. With a weekly growth of 20%, the <a href="https://coingape.com/price-predictions/chainlink-link-price-prediction/" rel="noopener noreferrer nofollow">LINK price</a> gave a decisive breakout from the $16 registering offering buyers the next stepping stone to prolong recovery.
The 0.27% drop today, will also validate sustainability above the breached resistance which could pave an asset recovery to $20.7, followed by $22.8.&nbsp;
Also Read: <a href="https://coingape.com/markets/chainlink-price-analysis-whale-accumulation-for-20/" rel="noopener noreferrer nofollow">Chainlink Price Analysis: Whale Accumulation Positions LINK for $20 Breakout</a>
<h2 id="span-style-font-weight-400-key-takeaway-span">Key Takeaway</h2>
The cryptocurrency market is gradually returning to a recovery sentiment, led by Bitcoin’s recent surge past the $67,200 mark. Renewed buying interest in Bitcoin ETFs significantly contributed to this recovery rally, with $222 million recorded on May 17th. While the post-halving rally has yet to begin, potential investors can seize this opportunity to acquire their favorite digital assets.
The post <a href="https://coingape.com/markets/crypto-market-analysis-18-5-will-bitcoin-regain-70000-this-weekend/" rel="noopener noreferrer nofollow">Crypto Market Analysis 18/5: Will Bitcoin Regain $70000 this Weekend?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Crypto Market Analysis 18/5: Will Bitcoin Regain $70000 this Weekend?

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