Daily Market Report May 29

Daily Market Report – May 29, 2025

Markets diverged on Wednesday as Ethereum (ETH) surged 3.41% to $2,713.95, outperforming Bitcoin (BTC), which slipped 0.55% to $108,034.90. Futures liquidation totaled $118.18 million, and the Fear & Greed Index dipped slightly to 65, still signaling bullish sentiment. Derivatives positioning continues to show equilibrium, with both BTC and ETH long/short ratios nearly even, indicating traders remain cautious amid recent macro uncertainty.

Top gainers included OCEAN/USDT, which skyrocketed +2,737.66%, MTC/USDT up +14.24%, and NIL/USDT rising +12.94%, with lower-cap tokens once again drawing speculative inflows.

Daily Market Report May 29 401(k) Crypto Ban

On the macro front, the U.S. Court of International Trade ruled that Trump’s tariff order was invalid, adding to regulatory shake-ups. Meanwhile, Fed meeting minutes revealed rising concerns around inflation and unemployment, though option pricing suggests 1–2 rate cuts may still be on the table for 2025.

Crypto policy also saw a positive turn: the U.S. Department of Labor officially withdrew its previous guidance restricting cryptocurrency exposure in 401(k) retirement plans. In the institutional space, new analysis highlighted an increase in ETH-focused derivative activity, showing funds may be pivoting from Bitcoin to Ethereum amid broader optimism.

Elsewhere, VivoPower announced a $121 million XRP treasury initiative, while Pakistan floated a Bitcoin strategic reserve plan with a long-term holding mandate. Elon Musk publicly denied rumors of a formal xAI partnership with Telegram, and James Wynn reportedly gave back most of his profits on HyperliquidX, underscoring the volatility in altcoin and DeFi markets.

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Michael Crag