Global Crypto Market Cap Surges to $2.65 Trillion as Bitcoin Reclaims $80,000

The global crypto market saw significant movement, with the total market capitalization reaching $2.65 trillion. The key driver of this growth was Bitcoin, which reclaimed the $80,000 zone and saw spot ETFs record around $630 million in net inflows on May 1.

The return of institutional demand in Bitcoin ETFs is a positive signal for the market, but it's essential to note that Ethereum, XRP, and Solana ETF flows remained weaker on a weekly basis. This indicates that institutional demand is still concentrated in Bitcoin.

Other notable events include the improvement of the Crypto Fear & Greed Index to 48, which suggests a move closer to neutral risk sentiment. The market's attention is now focused on the next resistance level between $82,000 and $84,000 for Bitcoin.