Bhutan has partnered with Binance Pay and local digital bank DK Bank to launch the world’s first national cryptocurrency-based tourism payment system. This new system lets travelers using Binance Pay pay for almost every part of their trip, from hotels to restaurants, using crypto. It’s a bold move that positions Bhutan as a leader in digital finance innovation, making travel more seamless for tech-savvy tourists while boosting the nation’s appeal as a forward-thinking destination.
The crypto market rallied today, May 9, continuing a trend that has been going on in the past few days. This surge happened as the crypto fear and greed index turned green and as the macroeconomic risks on trade subsided. This article explains why the cryptocurrency market is going up and then provides price predictions for some of the top gainers like Uniswap (UNI), Floki (FLOKI), and Fartcoin (FARTCOIN).
Why the Crypto Market is Going Up
The crypto market is going up, with Bitcoin hovering above $102,000, and Ethereum soaring above $2,400 for the first time in months. Consequently, the market cap of all coins has jumped by 5.25% in the last 24 hours to $3.25 trillion. This surge happened for three key reasons:
Falling macro risks as trade talks start.
Increased crypto accumulation.
Coinbase and Deribit deal.
The main reason why the cryptocurrency market is going up is the falling macro risks as trade talks start. The US has already reached a trade deal with the UK, and talks with China will start on Saturday. As such, there is rising optimism that GDP risks will subside, clearing a path for the Federal Reserve to start cutting rates.
Third-party data show that investors are accumulating Bitcoin, hoping that the coin will keep surging. Inflows to Bitcoin ETFs have soared to over $40.8 billion this year, and have risen in the last two consecutive months. Spot Ethereum ETFs have also started seeing more inflows this week.
Further, crypto-related deals are rising this year. Coinbase acquired Deribit on Thursday, while Ripple Labs recently bought Hidden Road and made a bid for Circle, the second-biggest stablecoin issuer. Kraken has also acquired NinjaTrader, while Robinhood bought BitStamp last year. These actions have led to optimism that the crypto market is on a strong growth path.
Top Crypto Price Predictions: Uniswap, Floki, and Fartcoin
This section provides price predictions for some of the top-performing coins in the crypto market like Uniswap, Floki, and Fartcoin.
Uniswap Price Forecast: Giant Double-Bottom Forms
The daily chart shows that Uniswap price bottomed at $4.673 this month. It formed a small double-bottom pattern whose neckline was at $6, where it has moved above. Looking back, the coin has formed a giant double-bottom at $4.63, where it has failed to move below since August last year. The neckline of this pattern is at $19.47.
Therefore, the most likely Uniswap price forecast is bullish, with the first target being at $12. This target is the 50% Fibonacci Retracement level and the highest level on June 16, which is 91% above the current level. A drop below the support at $4.6 will invalidate the bullish outlook.
Uniswap price
Fartcoin Price Technical Analysis: Rising Wedge and Falling ADX is a Risk
Fartcoin has been one of the top performers in the crypto market as it jumped by almost 500% from its March lows. It has continued rising and is now nearing the 50% retracement level.
The risk, however, is that the rally is losing momentum as the Average Directional Index (ADX) has tilted downwards. Also, the token has formed a rising wedge pattern, a reversal sign.
Therefore, there is a risk that it may pull back and possibly move below $1 in the next few days. A clear break above the upper side of the wedge will invalidate the bearish Fartcoin forecast.
Fartcoin price
Floki Price Analysis: Flips Key Resistance
The daily chart shows that the Floki price formed a big falling wedge pattern in the first quarter. After this, the coin formed an inverse head and shoulders pattern. It has now moved above the key resistance level at $0.0000962, the highest swing on April 30, and where it was forming a small double-top pattern.
The most likely Floki forecast is bullish, with the next point to watch being at $0.00011, the lowest swing on November 3.
Floki price chart
Will the Cryptocurrency Market Rally Continue?
There is a likelihood that the crypto market rally will continue as risks ease and Bitcoin demand surges. However, there may be volatility if US and China talks don’t end well.
U.S.-based crypto exchange Coinbase has announced plans to launch crypto perpetual futures for American traders. The exchange stated that the product will comply with CFTC regulations, as perpetual futures grow in popularity. Coinbase Plans Crypto Perpetual Futures For US Traders Coinbase has made several announcements recently, the latest being its proposal to introduce crypto perpetual
Bitcoin (BTC) surged to a local high of $95,400 on Tuesday April 29, as BlackRock’s iShares Bitcoin Trust (IBIT) recorded a historic $1 billion in daily net inflows. This marks the largest single-day inflow since the ETF’s January launch and reflects unprecedented demand from institutional investors.
Bitcoin price action | Coingecko
According to data from Coingecko, BTC’s current market capitalization stands just under $1.9 trillion, with many analysts forecasting a breakout past the $2 trillion mark in Q2 if momentum persists.
Bitcoin price action | Coingecko
The inflow into IBIT signals growing investor confidence in Bitcoin’s long-term role as a macro hedge and alternative asset.
Notably, Geoff Kendrick of Standard Chartered reiterated also his $120,000 BTC forecast by Q2 2025, citing expanding institutional adoption and macroeconomic fragility as key drivers. In the long term, he sees the $140,000 mark as attainable if liquidity conditions improve.
BlackRock’s outsized role in institutional onboarding has helped BTC become a core portfolio component across global asset managers. As fund inflows build, market watchers expect more upward pressure on prices heading into the summer.
BTC institutional demand coincides with weak labor data
The crypto market’s bullish tilt aligns with deteriorating macro indicators that could open the door for a potential Fed rate cut. On April 29, the U.S. Labor Department reported that March job openings fell to 7.2 million—well below the expected 7.5 million. This marks one of the lowest readings since 2021.
United States Job Openings (JOLTs) data, April 29 2025 | Source: TradingEconomics
Simultaneously, the Conference Board’s consumer confidence index dropped for the fifth straight month, hitting its lowest level since January 2021. Historically, such weak US labor data often triggers Fed to intervene with expansionary monetary policies, which tend to favor risk-on assets like Bitcoin.
This pattern could repeat the increased money supply could propel Bitcoin price towards $120,000 as Standard Chartered analyst Geoff Kendrick predicts.
Looking ahead: What’s next for Bitcoin price in Q2 2025
BlackRock’s $1 billion IBIT inflow on Monday may be the clearest signal yet that Bitcoin is maturing into a global institutional asset.
Coupled with weakening U.S. macro data, BTC price could be on the verge a breakout towards the $2 trillion market cap milestone.
With BTC price already trading above $94,000, it needs only a modest 5–6% push to reach the $2 trillion market cap milestone.
Should corporate invest continue pouring capital into Bitcoin ETFs in anticipation of dovish Fed, Bitcoin price is likely to cross the $2 trillion market cap in the coming weeks.
While regulatory risks, and trade policy shocks still remain active, the unusual corporate inflows suggest’s Bitcoin next all-time high breakout could already be underway.
Bitcoin price is consolidating near $94,200 at press time after testing weekly highs at $95,500 following BlackRock’s $1 billion ETF inflow.
Technical indicators on the Bitcoin price forecast shows the upper Bollinger Band at $98,554, acting as short-term resistance.
With BTC price holding well above the midline ($88,979), it reinforces a bullish narrative.
Bitcoin price forecast | Source: TradingView
Beyond that, the Relative Strength Index (RSI) at 65.59 suggests bullish momentum without veering into overbought territory, giving BTC room to push higher. A
decisive close above $95,000 could propel price toward $98,500 in the coming sessions, particularly if institutional inflows persist. Conversely, a break below the midline of the Bollinger Band could open a reversion toward $79,400, the lower band.
