Today is another strong day for the crypto market. While Bitcoin holds steady just below its recent all-time high, several other major tokens show noticeable gains. Ethereum broke through a key resistance level, KAIA continues its rapid climb, and Hyperliquid set another record.
At the same time, two key macroeconomic developments helped support a broadly positive market mood: new U.S. inflation data came in softer than expected, and the latest round of U.S.-China trade talks concluded with signs of progress.
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Bitcoin Holds Steady Near All-Time High
Bitcoin traded in a tight range between $109,000 and $110,000, showing low volatility throughout the day. The price remains very close to its all-time high, but no breakout has occurred.
On-chain metrics continue to show declining activity, with the number of active addresses and transaction volume both at multi-month lows. Long-term holders have been increasing their positions, and whale inflows to exchanges remain subdued.
Ethereum Pushes Past $2800
Ethereum is up around 4% today and breaks through the $2800 resistance level, trading near $2850. This move follows a rally yesterday and is supported by increased activity in the futures market.
Open interest in Ethereum futures reaches an all-time high of nearly 7.2 million ETH. Retail futures activity is also above its 12-month average, suggesting renewed speculative interest. Spot activity remains moderate, but the breakout marks one of the more decisive moves among top assets today.
Solana Rises Again Amid ETF Optimism
Solana gains more than 5% as it continues its upward trend. The move follows ongoing speculation about a potential Solana ETF, which may be closer to regulatory review. While no official approval is announced, investor interest remains strong following earlier reports suggesting a decision could be near.
Read also: Solana ETF Approval Odds Surge Following SEC Developments
KAIA Continues Rally With 28% Daily Gain
KAIA is the day’s top-performing major asset so far, climbing nearly 28%. The token is now up over 55% in the past seven days, continuing a rally driven by recent policy changes in South Korea. Trading volume remains high, and today’s price action shows consistent buying throughout the session. This marks another day in a row KAIA records a double-digit gain.
Read also: Kaia Blockchain Surges After South Korean Policy Shift on Stablecoins
Hyperliquid Sets Another All-Time High
Hyperliquid (HYPE) hit another all-time high today, just under $44. The recent rally is sustained by steady inflows and Binance listing. We cover more behind Hyperliquid’s movements in this article.
CPI and Trade Developments Support Market Mood
Macroeconomic conditions help support today’s performance. The May U.S. Consumer Price Index (CPI) report shows softer-than-expected inflation. Core CPI rises 2.8% year-over-year, in line with April but below the 2.9% forecast. On a monthly basis, core prices rise 0.1%, compared to expectations of 0.3%. The data increases the likelihood of a potential rate cut from the Federal Reserve later in the year.
Separately, trade talks between the U.S. and China wrap up with an announced framework aimed at easing tariff-related tensions. The agreement includes provisional steps around rare earth exports and educational visas. While the deal lacks some details, the tone of the outcome is viewed as constructive by investors and contributes to the improved risk sentiment seen across markets.
