BTC and Chainlink Defy Gravity as Crypto Markets Eye Next Rally - May 1 Analysis

Bitcoin shrugs off regulatory FUD while Chainlink’s oracle network quietly eats Wall Street’s lunch. The entire crypto market cap flirts with $2.5T as traders pile into altcoins—because nothing screams ’rational investing’ like chasing 100x memecoins during a liquidity crunch.

Key levels to watch: BTC tests $65k resistance, LINK eyes $20 breakout. Meanwhile, traditional finance still can’t decide if crypto is dead or about to destroy civilization.

Bitcoin (BTC) is extending its consolidation streak to five consecutive days, trading around $95,000 on Wednesday, as investors await a decisive breakout. A K33 report highlights two key events to watch this week: MicroStrategy’s Q1 earnings release and the approaching deadline for the Strategic Bitcoin Reserve. 

Chainlink’s (LINK) price holds steady while trading at $14.55 at the time of writing on Wednesday, continuing the consolidation seen in recent days. The smart contracts oracle token showcases the potential to sustain the uptrend that started in mid-April within the confines of an ascending channel, if key on-chain metrics, such as the Supply outside of Exchanges, continue to surge. However, the declining network activity observed in the Active Addresses and New Addresses metrics signals that the uptrend may be losing momentum.