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Home News Crypto

Dogecoin, Cardano, and Solana Drop Over 5% as Crypto Market Sees Profit-Taking After Rally

by Team Lumida
May 15, 2025
in Crypto
Reading Time: 4 mins read
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Bitcoin Plunges to $64K Amid U.S. Tech Stock Turmoil

"Nobody gets me Bitcoins!" by zcopley is licensed under CC BY-SA 2.0

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Key Takeaways:

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  • Major cryptocurrencies like Dogecoin (DOGE), Cardano (ADA), and Solana (SOL) fell over 5% in the past 24 hours as traders locked in profits following a week-long rally.
  • Bitcoin and Ether faced resistance at $104,000 and $2,700, respectively, with analysts predicting potential corrections.
  • Institutional investors continue to accumulate Bitcoin, with mid-sized wallets adding over 83,000 BTC in the past month.
  • Coinbase’s upcoming inclusion in the S&P 500 on May 19 is expected to act as a short-term catalyst for the crypto sector, with passive fund demand estimated at $9 billion.

What Happened?

After a strong rally fueled by macroeconomic tailwinds, including lower-than-expected U.S. inflation data and a breakthrough U.S.-China trade agreement, the crypto market is experiencing a pullback. Dogecoin, Cardano, and Solana dropped over 5% as traders took profits, while Bitcoin and Ether faced resistance at key price levels.

Bitcoin has hovered around $104,000 for six days, with analysts warning of a potential correction as it approaches previous all-time highs. Ether, which rallied 55% over the past week, failed to consolidate above $2,700 and may target $2,400 in a correction.

Sentiment indicators, such as the Crypto Fear & Greed Index, reached 73, signaling overheated market conditions. Despite the pullback, institutional activity remains strong, with mid-sized Bitcoin holders accumulating over 83,000 BTC in the past month.


Why It Matters?

The recent rally and subsequent profit-taking highlight the volatility of the crypto market, even as institutional interest remains robust. The pullback may provide an opportunity for long-term investors to accumulate assets, particularly as macroeconomic conditions and regulatory developments continue to shape the market.

Coinbase’s upcoming inclusion in the S&P 500 is a significant milestone for the crypto sector, signaling growing mainstream acceptance. Analysts expect the inclusion to drive short-term demand for Coinbase stock, potentially boosting sentiment across the broader crypto market.


What’s Next?

Investors should monitor key price levels for Bitcoin and Ether, as well as sentiment indicators, to gauge the likelihood of further corrections or a resumption of the rally. The impact of Coinbase’s S&P 500 inclusion on May 19 will also be a critical factor, with potential spillover effects on the broader crypto market.

Additionally, macroeconomic developments, such as U.S. inflation data and global trade agreements, will continue to influence risk appetite and market dynamics. Institutional accumulation trends, particularly among Bitcoin holders, will remain a key indicator of long-term market confidence.

Source
Tags: Bitcoin
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Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

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Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
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