Welcome to the Canadian Crypto Observer. Monetary journalist and writer Aditya Nain presents perspective on market-moving headlines to assist Canadian buyers navigate the cryptocurrency market.
May bitcoin proceed to rise?
On Could 22, bitcoin (BTC) reached a brand new all-time excessive of $111,681 (all figures in U.S. {dollars} except in any other case specified). This was seemingly pushed partly by the continued “promote U.S.” development, with uncertainty round Trump-led coverage pushing buyers in the direction of non-U.S. belongings, together with gold and bitcoin.
May it go larger? Or is the crypto occasion over for this market cycle? Right here’s some helpful perspective.
What’s the Worry and Greed Index telling us?
When BTC first neared the important thing psychological threshold of $100,000 in December 2024, two indicators steered that the market could possibly be overheated: the CMC Worry and Greed Index and Google search quantity for “bitcoin.” This time, those self same indicators give us purpose to consider that BTC might rise additional.
Under is the one-year chart of the CMC Worry and Greed Index (multi-coloured line), overlaid with the worth of BTC (gray line). You’ll discover that when BTC neared $100,000 in December, the index was at “excessive greed,” suggesting a market high. However now, with BTC at a brand new all-time excessive, the index continues to be in “greed” territory—which signifies that the market is probably not overheated but.
What can Google search tendencies inform us about BTC?
Information from search question device Google Developments suggests to me that BTC might rise additional. Sometimes, near or at new market highs, search curiosity in “bitcoin” on Google goes via the roof, because it did, for instance, in March 2021 and November 2024. Nevertheless, we’re not seeing that burst of search curiosity simply but. The search quantity for BTC—what number of instances “bitcoin” was looked for on Google and its related platforms like YouTube—is lower than half of what it was in December.
The chart under exhibits that curiosity in bitcoin peaked in December 2024 (coinciding with the market high at the moment). This peak is represented numerically by a rating of 100. In distinction, the curiosity in bitcoin as of Could 27 sits at a really low rating of 34.
To reiterate: I wouldn’t be stunned if BTC rose additional, as a result of the BTC market often tops out when it’s over-hyped, when it’s making common headlines, and greed is excessive. For now, we’re not seeing proof of that primarily based on the Worry and Greed Index or the Google search tendencies knowledge.
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Ethereum bounces again
Ethereum (ETH) has risen from the ashes—up 62%, from $1,416 to $2,700, in below two months in April–Could 2025. The second-largest cryptocurrency by market capitalization, ETH was starting to lose favour with buyers, having lagged behind BTC, Solana (SOL) and lots of different crypto belongings on this bull market. Nevertheless, as is usually the case in investing, simply while you assume an asset is doomed, it shoots up—and ETH did, shortly.
What’s behind ETH’s resurgence?
It could possibly be creator Vitalik Buterin’s strategic plan to stage up Ethereum’s technological infrastructure, in response to persistent underperformance and the emergence of a number of rivals akin to Solana. Nevertheless, in the event you’re bearish on ETH, it’s possible you’ll assume that the present run-up is only a contra play—that’s, buyers piling into ETH as a result of it was deeply undervalued.
I believe it’s secure to say the jury continues to be out on whether or not Ethereum survives and thrives or will get eaten up by newer, extra agile crypto rivals within the subsequent 5 to 10 years.
Regardless of the largely detrimental information surrounding Ethereum over the previous 12 months, there’s one main success story on the intersection of conventional finance (TradFi) and crypto. It’s referred to as BUIDL—a tokenized cash market fund by BlackRock that runs largely on the Ethereum blockchain. It’s a method to maintain U.S. Treasuries via a crypto token.
BlackRock’s BUIDL fund hits $2.88B, with 95% on Ethereum
As of Could 18, BlackRock’s tokenized fund BUIDL holds $2.88 billion in belongings, with $2.68 billion (95%) tokenized on Ethereum, in line with knowledge from https://t.co/hPAEaqWKKv. The remaining belongings are unfold throughout Aptos,…
— CoinNess World (@CoinnessGL) Could 19, 2025
As of Could 29, the BUIDL market cap stood at a powerful $2.92 billion—up over 600% from its launch in March 2025. May Ethereum be the popular blockchain for the tokenization of conventional and real-world monetary belongings?
Will stablecoin regulation within the U.S. increase crypto progress?
One thing taking place within the U.S. could possibly be massive for crypto. The federal authorities is making an attempt to control U.S.-dollar stablecoins—cryptocurrencies which are secure in worth as a result of they’re pegged to the U.S. greenback. For instance, one Tether (USDT, the most important stablecoin available on the market) is supposed to be equal to at least one U.S. greenback.
Via the bipartisan Guiding and Establishing Nationwide Innovation for U.S. Stablecoins (GENIUS) Act, regulators hope to impose necessities on stablecoin issuers, akin to how a lot U.S. foreign money they need to maintain in reserve to again up their coin, in the end making certain that regulated stablecoins will keep their worth. As of now, the Act is on the ground of the Senate. As soon as it’s handed by the Senate and the Home, it’ll want President Trump’s signature. Whereas it’s not but a achieved deal, some type of stablecoin regulation might seemingly be regulation as quickly as subsequent 12 months.
Stablecoins are a key a part of the crypto ecosystem as a result of they operate as on and off ramps for buyers. For instance, if you wish to purchase $1,000 of BTC however not suddenly, it’s possible you’ll purchase $1,000 of USDT and convert that incrementally to BTC. Whenever you need to promote your BTC, it’s possible you’ll convert it to USDT as an alternative of promoting it for U.S. {dollars}. Consider stablecoins because the “money” of the crypto ecosystem. They’re so essential that two of the ten largest cryptocurrencies by market cap are stablecoins: USDT (third-largest at $152 billion) and USDC (seventh-largest at $61 billion), as of Could 27, 2025. In reality, virtually unbelievably, in April 2025 stablecoins accounted for over 50% of on-chain transaction quantity, because the desk under exhibits.
For central banks and governments, an unregulated stablecoin ecosystem poses vital threat. If you happen to’re holding a crypto token that claims to be equal in worth to the U.S. greenback, then that token must be backed greater than adequately by U.S. {dollars}—in any other case, it’s simply an empty promise. A well-regulated stablecoin ecosystem would seemingly increase investor confidence in crypto, inviting extra folks into the market. For instance, if an investor knew that USDT functioned inside a well-regulated ecosystem, they’d be extra more likely to convert their BTC to USDT and again, primarily based on their outlook on the crypto market. An additional benefit could possibly be the potential to pay for real-world issues together with your stablecoin, thereby lowering the necessity to transfer out of the crypto ecosystem to make a purchase order.
Crypto value swings are widespread
Cryptocurrencies together with Bitcoin, Ethereum, Solana, XRP and others are speculative and extremely unstable belongings which are topic to vital value swings. Even stablecoins is probably not “secure” if not backed adequately by real-world belongings.
Investing in bitcoin and different crypto cash carries vital market, technological and regulatory dangers. Put money into crypto provided that it aligns together with your funding targets, time horizon and threat profile, and keep vigilant about crypto scams.
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Learn extra about crypto:
- Is now an excellent time to purchase bitcoin?
- Will bitcoin crash in 2025?
- Bitcoin tops USD$100,000 for the primary time
- Worth of bitcoin hits new excessive after Trump victory, and extra crypto information
- How you can shield your crypto from hacks
The publish Bitcoin soars to a brand new all-time excessive appeared first on MoneySense.