Bitcoin’s strength pushes down altcoins just as gold corrects

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Last Updated on 3 May 2025 by CryptoTips.eu

Normally, altcoins tend to go higher whenever Bitcoin has a few bullish days in a row. During the weeks in which this happens, we usually swing between altcoin season and bitcoin season. But lately, Bitcoin’s dominance has been so strong that altcoins have no chance to grow. Meanwhile, May has also started, and that is usually not very good news for crypto.

Gold meanwhile is going through the motions of that promised ‘blow-off top’ period and has fallen by about 8% since the top of $3,500 per ounce.

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Sell in May

On the macro front, investors were particularly keen to seen US employment figures on Friday, which showed 177,000 new jobs added, compared to the 138,000 expected by market consensus. Inflation in the world’s largest economy appears to be easing, but fears of Trump’s tariffs and the Federal Reserve’s continued refusal to cut key interest rates are creating uncertainty for investors.

For Bitcoin, the technical picture actually looks quite good and the largest digital currency is clearly continuing its steady climb to $100,000. Unfortunately, we also have to keep an eye on the date, because the calendar is already set to the month of May.

And then the old market adage ‘sell in May and stay away’ tends to come in handy again. We can only guess what the coming weeks will bring, but the ultimate crypto coin is still doing better than most technology stock exchanges this year.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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