Bitcoin Surges 10% to $90K, Altcoins Follow as Institutional Demand Rises

The crypto market has shown signs of a bullish trend, with Bitcoin leading the charge and several altcoins gaining significant traction. Bitcoin's price has surged past $90,000 for the first time in weeks, reigniting market enthusiasm. This surge is driven by renewed institutional demand, steady ETF inflows, and favorable macro factors such as easing inflation concerns and a weakening U.S. dollar, which are helping Bitcoin decouple from traditional markets. This move positions Bitcoin for a potential retest of its all-time high and opens the door for further growth in altcoins.

Political and regulatory developments are also shaping the crypto narrative. Trump Media & Technology Group is reportedly working with Davis Polk to launch MAGA-themed crypto ETFs, further pushing crypto into mainstream discourse. Paul Atkins has been appointed as the new SEC Chairman, replacing Gary Gensler. Known for his more crypto-friendly stance, Atkins’ leadership could ease regulatory tension in the months ahead. Additionally, Celsius founder Alex Mashinsky is scheduled for sentencing on May 8, signaling progress in cleaning up bad actors in the space. These developments are helping shift investor perception toward a more regulated—but also more accepted—crypto environment.

In Argentina, President Javier Milei is under fire after the meme coin $LIBRA, which he openly supported, crashed and wiped out $250 million in market value. The backlash could impact global policy discussions around token endorsements. Meanwhile, Germany’s Deutsche Börse announced that its Clearstream division will begin offering Bitcoin and Ethereum custody services, opening the door for large-scale European institutional adoption.

Among the top-performing altcoins, SUI has seen an explosion in Total Value Locked (TVL), now surpassing $2 billion. Its rapid DeFi adoption and upcoming integrations across gaming and NFTs are attracting more users. Price projections suggest a target of $8.32 by May 2025, representing a 240% upside. The narrative of SUI as a scalable Ethereum alternative is gaining traction, especially in Asia.

SHIB, the meme coin, is also showing real momentum. Its ecosystem, including Shibarium and SHIB The Metaverse, continues to expand, with whale activity increasing again. A recent bullish engulfing candle on the weekly chart hints at the start of a larger uptrend. Analysts forecast a move toward $0.0000227, a 73% jump, in the near term. Community-driven momentum, combined with new exchange listings, is fueling the optimism.

Ethereum (ETH) is also eyeing a rebound from its recent underperformance. Down 60% from its early 2025 high of $3,900, ETH has lagged behind BTC and SUI due to investor concerns over gas fees and rollup congestion. However, if ETH breaks the $2,330 resistance, top analysts predict a strong bull rally toward the $3,000–$3,500 range. With ETF rumors for ETH heating up again and potential regulatory clarity, the fundamentals remain strong.

As Bitcoin regains strength above $90K, it’s becoming clear that the broader crypto market is entering a new bullish phase. SUI and SHIB are proving that utility and community hype can coexist, while ETH remains a heavyweight with major upside if technicals align. Regulatory tailwinds, ETF buzz, and increased institutional involvement continue to provide fuel for the next leg up.