The altcoin market is experiencing a surge in bullish sentiment, with SUI edging closer to forming a new all-time high (ATH). Traders’ renewed confidence is fueling this momentum, as fresh capital injections pour into the asset, signaling strong market enthusiasm.
SUI Traders Are Bullish
The momentum surrounding SUI has been substantial, as evidenced by the doubling of its Open Interest (OI) in just nine days. Rising from $679 million to $1.26 billion, the surge highlights a growing belief among traders that SUI is on the brink of breaking its ATH. This increase in OI suggests a robust interest from traders who are anticipating significant returns, further solidifying the bullish outlook for the altcoin.
With traders confidently backing the asset, there is a strong foundation for sustained bullish momentum. As SUI nears its ATH, the increased capital inflows and optimism surrounding the asset set the stage for potential price growth.
Technical Indicators Show Strong Bullish Sentiment
Technical analysis also supports the optimism surrounding SUI. The Relative Strength Index (RSI) has remained above the neutral threshold of 50.0, signaling that buyers are maintaining control over the market. This sustained bullish momentum indicates that SUI could continue to benefit from favorable market conditions, attracting more traders and investors in the process.
SUI Price Prediction: A New High Within Reach
Currently, SUI is less than 6% away from its ATH of $5.36. The altcoin has demonstrated resilience by bouncing off the support level of $4.79, suggesting that the uptrend may continue if bullish conditions hold. If the asset successfully breaches its ATH, it could chart new price levels, rewarding its investors with substantial gains.
However, broader market sentiment will play a pivotal role in determining the sustainability of this rally. Should market conditions shift, SUI could experience a pullback, especially if it falls below the $4.79 support level, potentially triggering a decline to $4.05.
The GENIUS Act, a bill of proposed new stablecoin regulations for the US, is up for a Senate vote today. Still, its chances of success remain uncertain, as Democratic opposition remains high.
Democrats on the Senate Banking Committee released harsh criticism of the bill, and their staffers also circulated a scathing letter co-signed by 46 advocacy groups. This blowback took place despite recent bipartisan amendments.
However, this vote failed, and the Act currently faces a make-or-break chance to win again or start over:
“IMO, If the GENIUS Act doesn’t pass the Senate, there will be no meaningful legislation involving crypto before the midterms and, unfortunately, midterms historically go against the party in power. If they can’t get this passed, a more complex Market Structures Bill is highly unlikely… not to mention crypto-related tax legislation or consumer protections,” claimed crypto advocate John Deaton.
Reports claim that the GENIUS Act’s next chance will take place today as part of Senate proceedings that will begin at 3 PM EST.
The crypto industry is strongly in favor of these regulations, with advocacy groups and business leaders both saluting the bill. However, it may not be that easy for one clear reason: stiff Democratic opposition.
Despite some initial support, Congressional Democrats turned on the GENIUS Act due to concerns of legalized corruption and unfair business practices.
Last week, legislators proposed a few bipartisan amendments that would severely handcuff the bill with Big Tech exclusions and new enforcement mechanisms. It’s looking like that may not be enough.
According to several reports, the Senate Banking Committee’s Democrats released a scathing review of the GENIUS Act, and staffers also circulated a hostile letter co-signed by 46 different advocacy groups. These measures don’t necessarily reflect the bill’s chances of success, but they do highlight real opposition.
Democratic staff on the Senate Banking Committee sent around a letter this AM signed by several dozen advocacy orgs opposing the GENIUS Act.
Includes ACRE, AFR, Center for Responsible Lending, Our Revolution, Public Citizen, Tech Oversight Project… pic.twitter.com/pragFvzSKB
— Brendan Pedersen (@BrendanPedersen) May 19, 2025
These criticisms focused on a few key deficiencies. First of all, the GENIUS Act’s amendments would prevent publicly traded Big Tech companies from issuing stablecoins.
However, they wouldn’t stop private firms, notably including Elon Musk’s X. This is one of several alleged loopholes that could eventually lead to blurred lines between banking and commerce.
The letters also address consumer protection in the event of an issuer’s collapse. Considering that Tether and most other prominent stablecoin issuers aren’t US-based, critics worry that the GENIUS Act won’t guarantee users’ assets.
Most of the other concerns were adjacent to these major topics, worrying that the Act is wholly insufficient.
To be clear, it might still pass despite this opposition. The Senate Banking Committee and its allies clearly hate the GENIUS Act, but other Democrats might have a more favorable view. At the moment, we can only wait and see how the vote turns out.
According to Bitfinex, Bitcoin’s (BTC) key indicators suggest that the current bull cycle may not have peaked yet, implying a potential continuation of the market rally. However, this optimistic outlook hinges on the stabilization of broader macroeconomic conditions.
The report also noted that short-term dips remain a possibility. Despite this, the broader trend appears positive, especially if Bitcoin can maintain its price above critical technical levels like $95,000.
Will Bitcoin’s Price Rally Continue?
In its latest report, Bitfinex pointed out that Bitcoin’s performance in April exceeded the average return. In April 2025, BTC posted a monthly gain of 14.08%. This was higher than its historical average of 13% and the median return of 7.3%.
“While April has traditionally been a strong seasonal month for BTC, recent years have seen more muted results, making this yearʼs performance stand out more distinctly,” the report read.
Notably, the beginning of the month was challenging for Bitcoin. President Trump’s tariff announcements triggered a sharp downturn in the price, which dropped as low as $74,501.
However, amid dollar depreciation and inflation concerns, Bitcoin found new ground. By the second half of the month, the price rallied again and recovered 32% from its previously low to local highs of $97,900.
This strong close underscored its resilience amid macroeconomic uncertainty and reflected renewed investor optimism in its future potential. On-chain data further reinforced this.
The stability in miner reserves, for instance, signaled confidence in the market. The reserves increased slightly from 1,808,315 BTC in December 2024 to 1,808,674 BTC as of May 5.
Furthermore, the Puell Multiple, an indicator measuring miner revenue relative to historical averages, remains below 2. This implied that miners do not believe the current price is a market peak.
Miners typically sell during market rallies or extremes, but their continued holding despite recent gains supports the idea that Bitcoin may have more room to grow.
“The fact that they are still holding into this recent 32 percent recovery from the April lows supports the idea that, despite recent volatility and macro uncertainty, we may not have seen the final leg of the current bull cycle,” the report stated.
While the long-term outlook remains bullish, Bitfinex underlined a critical short-term challenge for Bitcoin: reclaiming the $95,000 level.
“The $95,000 level—currently under consolidation—is a critical pivot point, acting as the lower boundary of a three-month range that defined market structure between November 2024 and February 2025,” Bitfinex noted.
According to their analysis, flipping the $95,000 level into strong support would indicate a shift in the market towards a bullish trend. Furthermore, it could set the stage for a potential test of its all-time high prices.
“As such, the next several days will likely determine whether the recent strength evolves into a sustained breakout or resolves into a retest of lower support zones,” the report added.
Bitfinex also evaluated the strength of the current Bitcoin rally using the Short-Term Holder (STH) cost basis. It represents the average acquisition price of coins held by recent investors. According to them, this has
“Historically acted as a dividing line between bullish and bearish market phases.”
This cost basis is currently at $93,340. Bitcoin has successfully broken above this threshold, signaling short-term momentum. However, maintaining this level will be crucial in determining if the rally continues or loses momentum.
BTCC, one of the world’s longest-serving cryptocurrency exchanges, today announces the appointment of Dan Liu as its new Chief Executive Officer. Liu, who previously served as Chief Research Officer at BTCC, brings extensive expertise in both traditional finance and cryptocurrency markets to his new role.
As BTCC approaches its 14th anniversary in June, Dan Liu’s appointment as CEO marks a new chapter for the exchange. Under his leadership, BTCC aims to build upon its legacy as the world’s most established crypto exchange while pursuing sustainable growth. This vision will carry BTCC confidently into the future, elevating the platform beyond traditional security to drive meaningful industry evolution.
From Research Visionary to CEO
Since joining BTCC in 2019, Liu has been instrumental in the exchange’s rapid growth and innovation in the cryptocurrency space. As a dynamic young leader, he previously served as Chief Research Officer at the exchange. With his strategic vision over the years, BTCC expanded its services to users from over 160 countries and significantly enhanced its product offerings in both futures and spot trading markets while maintaining high security standards.
Liu’s forward-thinking approach to market dynamics has made him a sought-after and respected voice in the cryptocurrency space, with regular features in prominent crypto media outlets including Cointelegraph, Markets Insider, and Japanese publication Monthly Digital Assets.
“I am deeply honored to lead BTCC Exchange at such a pivotal time for both our platform and the broader cryptocurrency ecosystem,” said Liu. “My crypto journey began back in 2013, and that early passion has only grown stronger over the years. As we celebrate our 14th anniversary this year, I’m excited to combine my background in traditional finance with my love for blockchain innovation. We remain committed to bridging these two worlds, continuing to build trust within the community while accelerating our global expansion.”
Building on Legacy, Focused on Future
Since joining BTCC in 2019, Liu has guided the exchange through various market conditions while driving innovation and growth. His leadership has positioned BTCC as an industry pioneer across multiple market cycles.
One of Liu’s most notable contributions was leading the launch of Tokenized Futures, an innovative financial product rarely seen in the industry. This bold step bridged the gap between traditional finance and blockchain technology and positioned BTCC as a forward-thinking exchange.
Additionally, under Liu’s strategic guidance, BTCC launched its highly successful Copy Trading feature, which has received exceptional user engagement and positive feedback. This feature provides an accessible entry point for those exploring cryptocurrency markets, aligning perfectly with BTCC’s mission of making digital asset trading more inclusive.
With his academic background in conventional markets, Liu brings valuable analytical skills to the evolving cryptocurrency space. His leadership represents a new approach where trust, transparency, and blockchain technology work together.
Looking ahead, Liu’s focus is on global expansion while navigating increasingly diverse regulatory standards across markets. “One of my most important missions is educating the general public about cryptocurrency and making trading accessible to everyday users,” Liu explains. To support this vision, he plans to deepen BTCC’s community connections by attending global industry events and creating direct dialogue with users and partners across different markets—insights that will help shape the platform’s future and inform regional strategies.
Under Liu’s leadership, BTCC Exchange is poised to continue its legacy as one of the most trusted, secure, and innovative cryptocurrency exchanges globally.
About BTCC
Founded in 2011, BTCC is one of the world’s longest-serving cryptocurrency exchanges, offering secure and user-friendly trading services to millions of users globally. With a commitment to security, innovation, and community building, BTCC continues to be a trusted platform in the evolving cryptocurrency landscape.
