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Yahoo
23-05-2025
- Business
- Yahoo
Crypto Daybook Americas: All Signs Point Up as Bitcoin Hits Record High
By Francisco Rodrigues (All times ET unless indicated otherwise) Bitcoin BTC surpassed Wednesday's record to reach an all-time high of $111,875 in the early hours of Thursday, according to the CoinDesk Bitcoin Price Index, as traditional financial markets contended with rising bond yields and renewed concerns over ballooning U.S. debt. The largest cryptocurrency has gained around 3.8% in the last 24 hours while the broader CoinDesk 20 CD20 index rose 4.74%, continuing a trend of strength driven by mounting institutional demand and growing interest in crypto exposure. The rally is unfolding against a backdrop of higher yields on U.S. and Japanese government bonds. The 10-year U.S. Treasury yield rose to 4.6%, while the 30-year topped 5%, driven by concerns over President Donald Trump's tax bill that analysts estimate could add as much as $5 trillion to the country's debt, according to Reuters. In Japan, yields on 30- and 40-year government bonds also hit record highs. The country's debt-to-GDP ratio stands at 234%, QCP Capital said, and growing scrutiny coupled with weak demand for long-dated JGBs sent yields soaring. That matters because higher yields — and thus higher returns — on investments that are considered relatively safe tend to lower the appeal of riskier assets like stocks, not to mention cryptocurrencies. While BTC, with its history of trading as a risky asset, hasn't shown much sign of ebbing demand, it raises the question of how long the rally can continue. Still, traders have been building large long positions in BTC options, with the most open interest now concentrated at the $110,000, $120,000 and even $300,000 calls for contracts expiring in late June in a sign of continuing bullish conviction. U.S.-traded spot bitcoin exchange-traded funds have also been seeing significant demand. Total net inflows hit $1.6 billion over the week, and $4.24 billion so far in May, SoSoValue data shows. The inflows, coupled with bitcoin's price rise, have seen the ETFs' total net assets hit a record $129 billion. There are, however, some muted signs of bearish activity. 'The largest block flow this week continues to be ETH December call spreads, while overnight BTC butterfly positions hint that some traders are positioning for consolidation around current levels,' Wintermute OTC trader Jake O. said. Note, he's talking about consolidation, not declines. And traditional participants may even be too bearish. While the U.S. endured a recent credit downgrade, markets are now pricing in a 6-level cut all the way down to BBB+. On top of that, per Jake O., a recent equities market sell-off may not be a result of repositioning given higher bond yields, but rather profit-taking after nine consecutive positive sessions. Stay alert! Crypto May 22: Bitcoin Pizza Day. May 22: Top 220 TRUMP token holders will attend a gala dinner hosted by the U.S. president at the Trump National Golf Club in Washington. May 30: The second round of FTX repayments starts. May 31 (TBC): Mezo mainnet launch. Macro Day 3 of 3: Canadian Finance Minister François-Philippe Champagne and Bank of Canada Governor Tiff Macklem will co-host the three-day meeting of G7 finance ministers and central bank governors in Banff, Alberta. May 22, 8 a.m.: Mexico's National Institute of Statistics and Geography releases (final) Q1 GDP growth data. GDP Growth Rate QoQ Est. 0.2% vs. Prev. -0.6% GDP Growth Rate YoY Est. 0.8% vs. Prev. 0.5% May 22, 8:30 a.m.: Statistics Canada releases April producer price inflation data. PPI MoM Est. -0.5% vs. Prev. 0.5%. PPI YoY Prev. 4.7%. May 22, 8:30 a.m.: The U.S. Department of Labor releases unemployment insurance data for the week ended May 17. Initial Jobless Claims Est. 230K vs. Prev. 229K May 23, 8:30 a.m.: Statistics Canada releases (Final) March retail sales data. Retail Sales MoM Est. 0.7% vs. Prev. -0.4% Retail Sales YoY Prev. 4.7% May 23, 10 a.m.: The U.S. Census Bureau releases April new single-family homes data. New Home Sales Est. 0.692M vs. Prev. 0.724M New Home Sales MoM Prev. 7.4% Earnings (Estimates based on FactSet data) May 28: NVIDIA (NVDA), post-market, $0.88 Governance votes & calls Arbitrum DAO is voting on launching 'The Watchdog,' a 400,000-ARB bounty program to reward community sleuths for uncovering misuse of the hundreds of millions in grants, incentives and service budgets the DAO has deployed. Voting ends May 23. Lido DAO is voting on adopting Dual Governance (LIP-28), a protocol upgrade that inserts a dynamic timelock between DAO decisions and execution so stETH holders can escrow tokens to pause proposals at 1% of TVL or fully block and 'rage-quit' at 10%. Voting ends May 28. Arbitrum DAO is voting on a constitutional AIP to upgrade Arbitrum One and Arbitrum Nova to ArbOS 40 'Callisto,' bringing them in line with Ethereum's May 7 Pectra upgrade. The proposal schedules activation for June 17, and voting ends on May 29. May 22: Official Trump to announce its 'next Era' on the day of the dinner for its largest holders. June 10: to host an analyst call followed by a Q&A session. Unlocks May 31: Optimism (OP) to unlock 1.89% of its circulating supply worth $24.67 million. June 1: Sui (SUI) to unlock 1.32% of its circulating supply worth $182.58 million. June 1: ZetaChain (ZETA) to unlock 5.34% of its circulating supply worth $11.99 million. June 12: Ethena (ENA) to unlock 0.7% of its circulating supply worth $16.78 million. June 12: Aptos (APT) to unlock 1.79% of its circulating supply worth $61.86 million. Token Launches June 1: Staking rewards for staking ERC-20 OM on MANTRA Finance end. June 16: Advised deadline to unstake stMATIC as part of Lido on Polygon's sunsetting process ends. Day 3 of 7: Dutch Blockchain Week (Amsterdam) Day 3 of 3: Avalanche Summit London Day 3 of 3: Seamless Middle East Fintech 2025 (Dubai) Day 2 of 2: Crypto Expo Dubai Day 2 of 2: Cryptoverse Conference (Warsaw) May 27-29: Bitcoin 2025 (Las Vegas) May 27-30: Web Summit Vancouver May 29: Stablecon (New York) May 29-30: Litecoin Summit 2025 (Las Vegas) May 29-June 1: Balkans Crypto 2025 (Tirana, Albania) June 2-7: SXSW London June 15-17: G7 2025 Summit (Kananaskis, Alberta, Canada) June 19-21: BTC Prague 2025 By Shaurya Malwa The HYPE token is in focus after a billion-dollar bitcoin trade boosted Hyperliquid's fundamentals. Pseudonymous trader James Wynn opened a $1.1 billion long on BTC using 40x leverage via Hyperliquid in one of the largest on-chain DEX trades ever recorded. The position, tied to wallet "0x507," was entered when BTC was priced at $108K and now sits on over $40 million in unrealized profit. Wynn booked partial profits early Thursday by closing 540 BTC (~$60 million), to net $1.5 million. His prior exits were followed by BTC declines, so traders are watching closely, as reported. Hyperliquid runs on its custom L1, HyperEVM, using the HyperBFT consensus (200K+ TPS) with CEX-level features like real-time order books and deep liquidity — no KYC required. The platform's permissionless design and lightning-fast execution are increasingly drawing capital from centralized venues to DeFi , and this trade could set a precedent for whale activity. HYPE jumped 15% in the past 24 hours on renewed attention and usage-driven speculation. Analyzing the liquidations heatmap of the BTC-USDT pair on Binance, the largest liquidations cluster around $108.5K and $106.9K with liquidations worth $143 million and $112.5 million, respectively. Meanwhile, BTC the options market swells post-breakout, with open interest on Deribit climbing above $34 billion, just shy of the all-time high of $35.9 billion set in December. The bulk of this positioning is centered on the 30 May expiry, which now holds over $9 billion in notional value to become a key date for potential volatility. Bullish sentiment is clearly in control, with traders aggressively targeting upside via calls. Strikes at $100K, $120K and $150K have attracted particularly large open interest, reflecting growing conviction in a continued rally. Put/call ratios underscore this shift in sentiment — the 24-hour volume ratio has dropped to 0.49, while the open interest ratio sits at 0.60, indicating a meaningful tilt toward bullish exposure following BTC's move above $110K. Near-term options activity is also picking up, with weekly and monthly contracts seeing notable inflows. Traders appear to be positioning for further momentum or short-term price swings in the wake of the breakout. BTC is up 1.19% from 4 p.m. ET Wednesday at $110,690.36 (24hrs: +4.05%) ETH is up 6.19% at $2,662.72 (24hrs: +5.23%) CoinDesk 20 is up 3.64% at 3,348.63 (24hrs: +4.88%) Ether CESR Composite Staking Rate is unchanged at 3.03% BTC funding rate is at 0.03% (10.95% annualized) on Binance DXY is up 0.25% at 99.81 Gold is down 0.26% at $3,305.6/oz Silver is down 0.83% at $33.17/oz Nikkei 225 closed -0.84% at 36,985.87 Hang Seng closed -1.19% at 23,544.31 FTSE is down 0.68% at 8,726.62 Euro Stoxx 50 is down 0.96% at 5,402.31 DJIA closed on Wednesday -0.91% at 41,860.44 S&P 500 closed -1.61% at 5,844.61 Nasdaq closed -1.41% at 18,872.64 S&P/TSX Composite Index closed -0.83% at 25,839.17 S&P 40 Latin America closed -1.31% at 2,597.38 U.S. 10-year Treasury rate is down 2 bps at 4.58% E-mini S&P 500 futures are unchanged at 5,865.50 E-mini Nasdaq-100 futures are up 0.15% at 21,188.50 E-mini Dow Jones Industrial Average Index futures are down 0.17% at 41,875.00 BTC Dominance: 63.90 (-0.62%) Ethereum to bitcoin ratio: 0.02409 (3.52%) Hashrate (seven-day moving average): 875 EH/s Hashprice (spot): $58.24 Total Fees: 7.89 BTC / $847,124 CME Futures Open Interest: 160,740 BTC BTC priced in gold: 33.4 oz BTC vs gold market cap: 9.47% Bitcoin reached a new all-time high of $111,875 this morning, breaking decisively above the previous peak just above $109,000 set in January. With a confirmed close above that level and no sign of a swing failure pattern, the bias remains firmly tilted toward continued upside. In the near term, BTC may encounter resistance around the $112,000–$113,000 range, aligning with a trendline drawn from the prior highs in December and January. However, last week's consolidation above $100,000 — and the successful reclaim of the previous all-time high — suggest this area is now acting as short-term support. A pullback below $100,000, especially into the weekly order block, would likely represent a healthy correction within the broader uptrend and could offer a compelling reentry opportunity if further downside is seen. Strategy (MSTR): closed on Wednesday at $402.69 (-3.41%), up 1.73% at $409.67 in pre-market Coinbase Global (COIN): closed at $258.99 (-0.91%), up 2.78% at $266.20 Galaxy Digital Holdings (GLXY): closed at C$31 (+1.57%) MARA Holdings (MARA): closed at $15.84 (-2.16%), up 4.42% at $16.54 Riot Platforms (RIOT): closed at $8.84 (-1.01%), up 3.39% at $9.14 Core Scientific (CORZ): closed at $10.78 (-1.28%), up 1.48% at $10.94 CleanSpark (CLSK): closed at $10.11 (+4.23%), up 4.65% at $10.58 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $17.75 (-1.33%) Semler Scientific (SMLR): closed at $44.89 (+7.19%), up 6.01% at $47.59 Exodus Movement (EXOD): closed at $32.76 (-5.07%), unchanged in pre-market Spot BTC ETFs: Daily net flow: $607.1 million Cumulative net flows: $43.35 billion Total BTC holdings ~ 1.19 million Spot ETH ETFs Daily net flow: $0.6 million Cumulative net flows: $2.61 billion Total ETH holdings ~ 3.49 million Source: Farside Investors The chart shows bitcoin open interest has hit a new all-time high. Most OI is concentrated on major centralized exchanges, with Hyperliquid showing solid growth. Bitcoin Smashes Past $111K, Setting New Record Highs, on Institutional Fervor (CoinDesk): Bitcoin hit an all-time high above $111,800 Thursday, surpassing Wednesday's record. Bitcoin's Rally to Record Highs Puts Focus on $115K Where an 'Invisible Hand' May Slow Bull Run (CoinDesk): The rally may face resistance near $115,000 as options dealers with positive gamma exposure hedge by selling into price strength, creating contrarian flows that could limit further upside. King Dollar Falls, Bitcoin Marches Toward Sound Money Highs (CoinDesk): Despite soaring 50% from April lows and outperforming tech stocks and Treasuries, bitcoin has yet to reclaim its all-time highs against traditional safe havens such as gold and silver. GOP Leaders Make Last-Minute Changes to Trump Tax Bill (The Wall Street Journal): Republicans aim to extend and expand Trump's 2017 tax cuts while covering only part of the cost, raising concerns over delayed spending curbs and worsening budget deficits. Japan's Possible Response to Rise in Super-Long Bond Yields (Reuters): Yields on these bonds are spiking amid concerns about large tax cuts and increased government spending. The central bank is likely to consider technical tweaks while avoiding broader intervention. Russia's Struggling War Economy Might Be What Finally Drives Moscow to the Negotiating Table (CNBC): Mounting pressure from inflation, falling oil revenues and depleted military reserves may eventually force Moscow into real peace talks. Sign in to access your portfolio
Yahoo
15-05-2025
- Business
- Yahoo
Crypto Daybook Americas: Retail Shift to Riskier Tokens Jolts Bitcoin, Ether
By Francisco Rodrigues (All times ET unless indicated otherwise) The cryptocurrency market pulled back over the last 24 hours, led by declines in major coins as retail investors switched out of large-cap tokens and into smaller, more speculative assets. Both bitcoin BTC and ether ETH dropped around 2% and the CoinDesk 20 Index (CD20), a measure of the broad market, fell 2.7%. "We've observed a significant week-on-week increase in retail participation, reinforcing the broader narrative of rising optimism," said Jake O., an over-the-counter trader at Wintermute. 'The shift down the risk curve is most evident in retail screen flows.' Institutional investors, for their part, have been more conservative. They're still stocking up on bitcoin, ether and XRP, while easing off positions in solana SOL which has faced 'sustained pressures.' 'Some are viewing SOLETH underperformance as an opportunity to position for Solana topside,' Jake noted, pointing to steady buying in $200 Solana call options ahead of June and July. Other options activity suggests traders are hedging for volatility ahead. Call spreads on ether were unwound and some traders moved into collar structures — strategies often used to protect against price swings — signaling caution after recent gains. The growing hedging activity adds a note of caution to retail's swing to speculation. Economic uncertainty, lingering inflation pressures and U.S. tariff policy are all weighing on risk appetite in crypto as well as traditional markets. Global asset managers, in fact, currently have their largest underweight position in the U.S. dollar in 19 years. Even though President Donald Trump secured a major investment deal with Qatar and a temporary reduction in U.S.-China tariffs, these outcomes may lead to further downside: Spanish bank Bankinter said in a note that the market has shown fatigue over the last trading session. 'We still think the damage is done: both EPS and prices should feel the strain, with rising inflationary pressures preventing the Fed from cutting rates as much as the market expects,' the bank's analysts wrote. Market participants are set to now focus on producer price inflation and retail sales data, as well as on Fed Chair Jerome Powell's speech later today. For the crypto market, a re-test of the all-time high isn't out of the picture. 'Looking ahead, we believe there is further room for digital assets to rally, especially as Coinbase's inclusion into the S&P 500 on 19 May draws closer,' Singapore-based QCP Capital wrote. Stay alert! Crypto: May 16, 9:30 a.m.: Galaxy Digital Class A shares to begin trading on the Nasdaq under the ticker symbol GLXY. May 19: CME Group is expected to launch its cash-settled XRP futures. May 19: Coinbase Global (COIN) will replace Discover Financial Services (DFS) in the S&P 500, effective before the opening of trading. Macro May 15, 8 a.m.: The Brazilian Institute of Geography and Statistics releases March retail sales data. Retail Sales MoM Est. 1% vs. Prev. 0.5% Retail Sales YoY Est. -0.5% vs. Prev. 1.5% May 15, 8:30 a.m.: The U.S. Bureau of Labor Statistics releases April producer price inflation data. Core PPI MoM Est. 0.3% vs. Prev. -0.1% Core PPI YoY Est. 3.1% vs. Prev. 3.3% PPI MoM Est. 0.2% vs. Prev. -0.4% PPI YoY Est. 2.5% vs. Prev. 2.7% May 15, 8:30 a.m.: The U.S. Census Bureau releases April retail sales data. Retail Sales MoM Est. 0% vs. Prev. 1.5% Retail Sales YoY Prev. 4.9% May 15, 8:30 a.m.: The U.S. Department of Labor releases unemployment insurance data for the week ended May 10. Initial Jobless Claims Est. 229K vs. Prev. 228K May 15, 8:40 a.m.: Fed Chair Jerome H. Powell will deliver a speech ("Framework Review") in Washington. Livestream link. May 16, 10 a.m.: The University of Michigan releases (Preliminary) May U.S. consumer sentiment data. Michigan Consumer Sentiment Est. 53 vs. Prev. 52.2 Earnings (Estimates based on FactSet data) May 15: Bit Digital (BTBT), post-market, -$0.05 May 15: Bitdeer Technologies Group (BTDR), pre-market, -$0.42 May 15: Fold Holdings (FLD), post-market, N/A May 15: KULR Technology Group (KULR), post-market, N/A May 28: NVIDIA (NVDA), post-market, $0.88 Governance votes & calls Uniswap DAO is voting on a proposal to fund the integration of Uniswap V4 on Ethereum in Oku and add Unichain on Oku in a bid to enhance Uniswap's reach and liquidity migration to V4. Voting ends May 18. May 15, 11 a.m.: Yield Guild Games to host a Q1 2025 community update Ask Me Anything (AMA) session. May 15, 10 a.m.: Moca Network to host a Discord townhall session discussing network updates. May 21, 6 p.m.: Theta Network to host an Ask Me Anything session in a livestream. Unlocks May 15: Starknet (STRK) to unlock 4.09% of its circulating supply worth $23.53 million. May 15: Sei (SEI) to unlock 1.09% of its circulating supply worth $14.22 million. May 16: Immutable (IMX) to unlock 1.35% of its circulating supply worth $17.8 million. May 16: Arbitrum (ARB) to unlock 1.95% of its circulating supply worth $39.06 million. May 17: Avalanche (AVAX) to unlock 0.4% of its circulating supply worth $42.84 million. Token Launches May 15: RIZE (RIZE) to list on Kraken. May 16: Galxe (GAL), Litentry (LIT), Mines of Dalarnia (DAR), Orion Protocol (ORN), and PARSIQ (PRQ) to be delisted from Coinbase. CoinDesk's Consensus is taking place in Toronto on May 14-16. Use code DAYBOOK and save 15% on passes. Day 2 of 3: CoinDesk's Consensus 2025 (Toronto) May 19-25: Dutch Blockchain Week (Amsterdam, Netherlands) May 20-22: Avalanche Summit London May 20-22: Seamless Middle East Fintech 2025 (Dubai) May 21-22: Crypto Expo Dubai May 21-22: Cryptoverse Conference (Warsaw, Poland) May 27-29: Bitcoin 2025 (Las Vegas) May 27-30: Web Summit Vancouver May 29: Stablecon (New York) May 29-30: Litecoin Summit 2025 (Las Vegas) BTC and ETH perpetual futures open interest ticked up alongside an overnight spot price pullback, but funding rates remain positive. Perhaps traders are buying the dip. Open interest in XRP perpetual futures has dropped, signaling an unwinding of longs. Ether futures open interest on the CME has increased from roughly 685K ETH to 955K ETH in a week, reaching the highest since March 11. BTC CME futures have yet to see a similar uptick. On Deribit, ETH risk reversals at the front-end have flipped negative to show bias for puts, or downside protection. BTC calls continue to trade at a premium. OTC tech platform Paradigm noted mixed flows, with OTM BTC put spreads both bought and sold, while ETH OTM call spreads continued to be lifted. BTC is down 1.49% from 4 p.m. ET Wednesday at $101,906.02 (24hrs: -1.52%) ETH is down 2.54% at $2,540.80 (24hrs: -2.58%) CoinDesk 20 is down 2.79% at 3,204.04 (24hrs: -3.66%) Ether CESR Composite Staking Rate is down 1 bps at 3.11% BTC funding rate is at 0.0045% (4.8968% annualized) on Binance DXY is down 0.29% at 100.75 Gold is down 0.59% at $3,168.30/oz Silver is down 0.85% at $32/oz Nikkei 225 closed -0.98% at 37,755.51 Hang Seng closed -0.79% at 23,453.16 FTSE is up 0.14% at 8,596.60 Euro Stoxx 50 is down 0.54% at 5,374.02 DJIA closed on Wednesday -0.21% at 42,051.06 S&P 500 closed +0.1% at 5,892.58 Nasdaq closed +0.72% at 19,146.81 S&P/TSX Composite Index closed +0.3% at 25,692.45 S&P 40 Latin America closed +0.18% at 2,645.42 U.S. 10-year Treasury rate is down 3 bps at 4.51% E-mini S&P 500 futures are down 0.51% at 5,878.25 E-mini Nasdaq-100 futures are down 0.72% at 21,239.50 E-mini Dow Jones Industrial Average Index futures are down 0.32% at 41,982.00 BTC Dominance: 62.77 (+0.31%) Ethereum to bitcoin ratio: 0.02490 (-1.23%) Hashrate (seven-day moving average): 861 EH/s Hashprice (spot): $54.63 Total Fees: 7.21 BTC / $747,357.79 CME Futures Open Interest: 149,720 BTC BTC priced in gold: 31.9 oz BTC vs gold market cap: 9.04% While BTC has pulled back from the recent high of $105,700 to under $102,000, it's broader upward trajectory remains intact. A break below $100,000 would invalidate the trend channel from April 9 lows, potentially leading to a deeper pullback. Strategy (MSTR): closed on Wednesday at $416.75 (-1.15%), down 2.35% at $406.95 in pre-market Coinbase Global (COIN): closed at $263.41 (+2.53%), down 3.39% at $254.48 Galaxy Digital Holdings (GLXY): closed at $31.96 (+8.74%) MARA Holdings (MARA): closed at $15.87 (-3.05%), down 2.52% at $15.47 Riot Platforms (RIOT): closed at $8.91 (-1.66%), down 2.24% at $8.71 Core Scientific (CORZ): closed at $10.32 (+0.78%), down 1.55% at $10.16 CleanSpark (CLSK): closed at $9.61 (-3.9%), down 2.29% at $9.39 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $16.95 (-1.45%), down 1.71% at $16.66 Semler Scientific (SMLR): closed at $32.54 (-11.34%), down 1.72% at $31.98 Exodus Movement (EXOD): closed at $34.88 (-17.03%), unchanged in pre-market Spot BTC ETFs: Daily net flow: $319.5 million Cumulative net flows: $41.37 billion Total BTC holdings ~ 1.17 million Spot ETH ETFs Daily net flow: $63.5 million Cumulative net flows: $2.55 billion Total ETH holdings ~ 3.44 million Source: Farside Investors The chart shows a sharp rise in the number of open ETH futures bets on the Chicago Mercantile Exchange. The surge indicates growing institutional participation in the second-largest cryptocurrency. CFTC's Pham Said to Plot Exit, Agency May Be Left Without a Party Majority (CoinDesk): If Brian Quintenz is confirmed as CFTC chair, he would replace a departing Democrat, while two Republicans also plan to leave, potentially reducing the five-member agency to just two commissioners. Altcoin Season Could Heat Up in June and Drain Part of Bitcoin's $2T Market Cap, Analyst Says (CoinDesk): Bitcoin's dominance rate fell from 65% to 62% in a week, signaling a shift toward altcoins. Analyst Joao Wedson says dominance will drop further. Trump Says U.S. Close to a Nuclear Deal With Iran (Reuters): Talks remain complicated by sharp disagreements and Tehran's continued uranium enrichment. Group of 21 Economies — Including U.S. and China — Warns of Growth Slowdown Over Trade Tensions (CNBC): The Asia Pacific Economic Cooperation (APEC) forecasts growth will slow to 2.6% this year from 3.6% in 2024, citing tariffs and non-tariff barriers as factors undermining business confidence. ARK Invest Bought $9.4M Worth of eToro Shares on Trading Platform's Debut (CoinDesk): Cathie Wood's firm bought 140,000 ETOR shares as the stock jumped 29% from its $52 open on stronger-than-expected demand. U.K. Economy Raced at Start of Year but Slowdown Looms (The Wall Street Journal): Despite outpacing the U.S. and eurozone with 0.7% first-quarter growth, rising employer taxes and wage costs have dented business confidence, pointing to weaker performance later this year and in 2026. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
07-05-2025
- Business
- Yahoo
Crypto Daybook Americas: Powell Will Set the Tone While Markets Eye Asia Battles, Trade
By Francisco Rodrigues (All times ET unless indicated otherwise) It's Federal Open Market Committee day in the U.S., and while there's little expectation of a change in interest rates, the market's attention will be focused on Federal Reserve Chair Jerome Powell's comments at the FOMC's press conference. The CME's FedWatch tool is pointing to a 97.6% chance of rates remaining unchanged and Polymarket traders are weighing a 98.3% chance, so it's the outlook that will take center stage. Spanish bank Bankinter said in a note that a potential rally attempt for risk assets would for now be 'naive,' pointing to indicators showing main U.S. ports are seeing a reduction in containers from China, while Powell is 'likely to strike a chilly tone on both future cuts and the inflation cycle.' 'We are entering a phase of unclear direction, probably sideways but with a weakening bias that may last for several weeks,' Bankinter analysts wrote. Adding to the cautionary tone is the military flare-up between India and Pakistan. India's 'Operation Sindoor' kicked off during Asian hours with strikes in parts of Pakistan, which has vowed to retaliate. Still, spot gold retreated more than 1.7% as traders took an optimistic stance on a U.S.-China trade deal and cryptocurrency prices are rising after New Hampshire became the first state to allow the investment of public funds into crypto. Bitcoin (BTC) has added 3% in the past 24 hours and the broader crypto market, as measured via the CoinDesk 20 (CD20) index, rose 2.57%. That's in contrast with equity markets, which fell Tuesday. It's still too early to say whether markets will focus more on the need for safe havens as international belligerence ramps up, or on the desire to lock in a bit more volatility as trade tensions ease. One possible signal: The largest bitcoin ETF, BlackRock's IBIT has attracted greater net inflows than the largest gold ETF, SPDR Gold Trust (GLD), since the start of the year. Ethereum's Pectra upgrade went live, the network's biggest upgrade since 2022. The upgrade includes 11 major improvement proposals (EIPs), but whether it can reverse ETH's decline against BTC remains to be seen. Year-to-date, ether has lost around 47% of its value to the leading cryptocurrency, with the ETH/BTC ratio now sitting at 0.019. Stay alert! What to Watch
Yahoo
02-05-2025
- Business
- Yahoo
Crypto Daybook Americas: All Eyes on Jobs, Fed as Bitcoin Prepares for Breakout Rally
By Francisco Rodrigues (All times ET unless indicated otherwise) Markets seem bullish ahead of the jobs report due later Friday, with bitcoin (BTC) rising toward $97,000 after stocks rose for an eighth straight day on Thursday. That gave the S&P 500 its longest rally since August as investors grew more confident that trade tensions between Washington and Beijing are cooling. Still, the CoinDesk 20 (CD20) index is little changed over the last 24 hours with the drop in first-quarter GDP pointing to economic strain from the trade war. While traders are now betting the Federal Reserve could cut interest-rates four times this year — one more than they'd priced in before the reciprocal tariffs were announced — personal consumption expenditures (PCE), the Fed's preferred measure of inflation came in above forecasts, which limits the central bank's room for easing, said James Butterfill, the head of research at CoinShares. Today's payrolls data remains a 'critical piece of the puzzle,' he said. 'When the Fed eventually decides to cut rates, it is likely to do so in a knee-jerk and forceful manner — reacting to a significant deterioration in economic conditions rather than being proactive. Such a dramatic policy shift could act as a catalyst for a significant breakout rally in bitcoin, as investors seek alternative stores of value amid aggressive monetary easing,' Butterfill said. That policy shift could align with bitcoin's historical performance. Since 2013, the cryptocurrency has seen an average gain of 7.52% in May, according to CoinGlass data. And it's not alone: ether (ETH), which has been significantly underperforming BTC, has posted an average gain of 27.3% in May since 2016, the best-performing month for the Ethereum blockchain's token. 'Investor confidence is gradually returning to crypto markets following a volatile start to the year, with April seeing a rebound across majors as tariff-driven macro fears eased,' said Vijay Chetty, CEO of Eclipse. Growing regulatory clarity is an 'underappreciated catalyst that will set the stage for broader institutional use cases,' Chetty added. Stay alert! Crypto: May 5, 3 a.m.: IOTA's Rebased network upgrade starts. Rebased moves IOTA to a new network, boosting capacity to as many as 50,000 transactions per second, offering staking rewards of 10%-15% a year and adding support for MoveVM smart contracts. May 5, 11 a.m.: The Crescendo network upgrade goes live on the Kaspa (KAS) mainnet. This upgrade boosts the network's performance by increasing the block production rate to 10 blocks per second from 1 block per second. May 6: Casper Network (CSPR) launches its 2.0 mainnet upgrade, introducing faster transactions, enhanced smart contracts, and improved staking features to boost enterprise adoption. May 7, 6:05 a.m.: The Pectra hard fork network upgrade will get activated on the Ethereum (ETH) mainnet at epoch 364032. Pectra combines two major components: the Prague execution layer hard fork and the Electra consensus layer upgrade. Macro May 2, 8:30 a.m.: The U.S. Bureau of Labor Statistics releases April employment data. Nonfarm Payrolls Est. 130K vs. Prev. 228K Unemployment Rate Est. 4.2% vs. Prev. 4.2% May 2, 9 a.m.: S&P Global releases Brazil April purchasing managers' index (PMI) data. Manufacturing PMI Prev. 51.8 May 2, 11 a.m.: S&P Global releases Mexico April purchasing managers' index (PMI) data. Manufacturing PMI Prev. 46.5 May 5, 9:45 a.m.: S&P Global releases (Final) U.S. April purchasing managers' index (PMI) data. Composite PMI Est. 51.2 vs. Prev. 53.5 Services PMI Est. 51.4 vs. Prev. 54.4 May 5, 10:00 a.m.: Institute for Supply Management (ISM) releases U.S. April economic activity data. Services PMI Est. 50.6 vs. Prev. 50.8 Earnings (Estimates based on FactSet data) May 6: Cipher Mining (CIFR), pre-market, $-0.07 May 8: Coinbase Global (COIN), post-market, $2.08 May 8: Hut 8 (HUT), pre-market May 8: MARA Holdings (MARA), post-market Governance votes & calls Compound DAO is voting on moving 35,200 COMP (~$1.5 m) into a multisig safe to test selling covered calls on COMP for USDC, lend that USDC in Compound for extra yield, then use the returns to buy back COMP and repeat—targeting roughly 15 % annual gain. Voting ends May 2. May 5, 4 p.m.: Livepeer (LPT) to host a Treasury Talk session on Discord. Unlocks May 2: Ethena (ENA) to unlock 3.10% of its circulating supply worth $53.44 million. May 7: Kaspa (KAS) to unlock 0.56% of its circulating supply worth $13.84 million. May 9: Movement (MOVA) to unlock 2.04% of its circulating supply worth $9.85 million. May 11: Solayer (LAYER) to unlock 12.87% of its circulating supply worth $79.71 million. May 12: Aptos (APT) to unlock 1.82% of its circulating supply worth $62.09 million. Token Launches May 2: Binance to delist Alpaca Finance (ALPACA), PlayDapp (PDA), Viberate (VIB), and Wing Finance (WING). May 5: Sonic (S) to be listed on Kraken. CoinDesk's Consensus is taking place in Toronto on May 14-16. Use code DAYBOOK and save 15% on passes. May 6-7: Financial Times Digital Assets Summit (London) May 11-17: Canada Crypto Week (Toronto) May 12-13: Dubai FinTech Summit May 12-13: Filecoin (FIL) Developer Summit (Toronto) May 12-13: Latest in DeFi Research (TLDR) Conference (New York) May 12-14: ACI's 9th Annual Legal, Regulatory, and Compliance Forum on Fintech & Emerging Payment Systems (New York) May 13: Blockchain Futurist Conference (Toronto) May 13: ETHWomen (Toronto) May 14-16: CoinDesk's Consensus 2025 (Toronto) By Shaurya Malwa Memecoin discussions are rising, while interest in layer-1 and layer-2 tokens is declining, signaling a shift toward speculative trading behavior, according to a Santiment report on Thursday. Retail investors are embracing hype-driven buying, favoring short-term gains over fundamentals. Market timing may be off, as historically the best altcoin entry points occur when crowd sentiment is low — not when terms like "altseason" and "bull cycle" are trending, the report said. Mentions of 'buying crypto' have spiked, especially on dips, suggesting widespread eagerness and potentially premature confidence. Overconfident markets often face sharp corrections, especially when traders expect nonstop gains. As May begins, it remains to be seen if this altcoin surge is sustainable or simply another hype-driven blip. BTC's current ascent appears structurally fragile, with a -$30 million liquidity delta across the 1% order book despite a 2.7% price rise since the start of the month, CoinGlass data show. This reduction in top-of-book liquidity as the price climbs leaves a thinner order book with an increasing the risk of slippage and volatility if momentum stalls. Liquidation heatmaps reveal sizable clusters at $97.6K ($67 million) and $96.1K ($58 million), reinforcing these zones as potential inflection points for intraday, volatility-driven reversals or stop-driven extensions. Binance funding rates show a sharp divergence in sentiment across major tokens, with APT, TON, UNI and XRP hitting +10.95% APR, while USDE (-29.73%), BNB (-19.06%), and SUI (-10.26%) reflect more intensive short-side pressure, Velo data shows. The concentration of elevated funding among large caps indicates directional long bias, while deeply negative rates in select altcoins suggest either event-driven shorts or systematic derisking. Open-interest (OI) rotation is flowing into low-cap, niche assets; with PUNDIX (+191%) and HAEDAL (+157%) leading 24-hour OI gains, according to Velo data. As open interest broadens out, market sensitivity to catalysts may increase across low to mid-cap tokens. BTC is up 2.27% from 4 p.m. ET Thursday at $96,817.27 (24hrs: +0.54%) ETH is up 1.48% at $1,822.64 (24hrs: -0.82%) CoinDesk 20 is up 1.39% at 2,781.37 (24hrs: -0.32%) Ether CESR Composite Staking Rate is down 9 bps at 2.958% BTC funding rate is at -0.0093% (-10.2251% annualized) on Binance DXY is down 0.51% at 99.74 Gold is up 0.62% at $3,258.47/oz Silver is unchanged at $32.38/oz Nikkei 225 closed +1.04% at 36,830.69 Hang Seng closed +1.74% at 22,504.68 FTSE is up 0.75% at 8,560.68 Euro Stoxx 50 is up 1.48% at 5,236.81 DJIA closed on Thursday +0.21% at 40,752.96 S&P 500 closed +0.63% at 5,604.14 Nasdaq closed +1.52% at 17,710.74 S&P/TSX Composite Index closed -0.19% at 24,795.55 S&P 40 Latin America closed -0.25% at 2,523.42 U.S. 10-year Treasury rate is up 8 bps at 4.23% E-mini S&P 500 futures are up 0.47% at 5,649.50 E-mini Nasdaq-100 futures are up 0.33% at 19,935.75 E-mini Dow Jones Industrial Average Index futures are up 0.47% at 41,045.00 BTC Dominance: 64.85 (+0.16%) Ethereum to bitcoin ratio: 0.1886 (-1.0%) Hashrate (seven-day moving average): 847 EH/s Hashprice (spot): $49.98 Total Fees: 5.51 BTC / $533,450.65 CME Futures Open Interest: 141,430 BTC BTC priced in gold: 29.8 oz BTC vs gold market cap: 8.46% Ether has reclaimed its previous swing low, with the $1,750 level now acting as a key support zone. On the daily timeframe, price action is compressing between the 20- and 50-day exponential moving averages — a setup that often precedes a directional breakout. Assuming bitcoin remains in consolidation near its current resistance, ether has room to push higher, potentially retesting the prior range low around $2,100, which aligns with the 100-day EMA, adding further evidence for this as a target. Strategy (MSTR): closed on Thursday at $381.6 (+0.39%), up 1.37% at $386.82 in pre-market Coinbase Global (COIN): closed at $201.3 (-0.78%), up 0.56% at $202.42 Galaxy Digital Holdings (GLXY): closed at $24.05 (+9.72%) MARA Holdings (MARA): closed at $14.05 (+5.09%), down 0.14% at $14.03 Riot Platforms (RIOT): closed at $7.77 (+7.32%), down 1.93% at $7.62 Core Scientific (CORZ): closed at $8.55 (+5.56%), up 0.58% at $8.60 CleanSpark (CLSK): closed at $8.67 (+6.12%), up 0.69% at $8.73 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $14.59 (+6.65%) Semler Scientific (SMLR): closed at $33.33 (+3.09%) Exodus Movement (EXOD): closed at $40.38 (+3.43%), up 4.95% at $42.38 Spot BTC ETFs: Daily net flow: $422.5 million Cumulative net flows: $39.53 billion Total BTC holdings ~ 1.15 million Spot ETH ETFs Daily net flows: $6.5 million Cumulative net flows: $2.51 billion Total ETH holdings ~ 3.45 million Source: Farside Investors Data from BitcoinCounterFlow comparing BTC's performance from the bottom of each of the last three cycles suggests the top isn't in yet. If history is any guide, the current trajectory around day 700–800 implies we're entering a phase that could develop into the steep rally seen in prior cycles. The smoother rise this time may be a reflection of the increased institutional participation in the cryptocurrency ecosystem. Movement Labs Suspends Rushi Manche Amid Coinbase Delisting, Token-Dumping Scandal (CoinDesk): Co-founder Manche was suspended after Coinbase delisted MOVE following reports that a market maker tied to Web3Port dumped over 5% of the token's supply, triggering a crash. China Is Considering Trade Talks With U.S., but It Has Conditions (The New York Times): China's Commerce Ministry said it won't enter trade talks unless U.S. tariffs are dropped, calling their removal the only way to demonstrate sincerity and rebuild trust. Metaplanet Issues $25M Bonds to Buy More Bitcoin (CoinDesk): EVO FUND purchased 3.6 billion yen ($24.8 million) of zero-coupon debt from Metaplanet, which intends to buy more bitcoin after recently exceeding 5,000 BTC. UK's FCA Seeks Public and Industry Views on Crypto Regulation (CoinDesk): The Financial Conduct Authority is seeking feedback on staking, lending, intermediaries and decentralized finance. How China Is Quietly Diversifying From US Treasuries (Financial Times): China is reallocating reserves into gold, mortgage-backed securities and assets managed in places like Hong Kong, reducing reliance on dollar-denominated assets that could be sanctioned or frozen. Eurozone Inflation Holds Above Target as ECB Weighs Cuts (Bloomberg): Eurozone inflation held steady at 2.2% in April, defying expectations of a slowdown, while core inflation jumped to 2.7%. Sign in to access your portfolio
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01-05-2025
- Business
- Yahoo
Crypto Daybook Americas: Powell Rate-Cut Question Now Biggest Catalyst Amid Earnings Deluge
By Francisco Rodrigues (All times ET unless indicated otherwise) The impact of President Donald Trump's reciprocal tariffs is starting to be felt. The U.S. economy contracted for the first time in three years last quarter and stock prices have seen their worst first 100-day performance of a presidential administration since 1974. Results from trading platform Robinhood also showed markets cooled in the first three months of the year, even as it beat analyst forecasts for both revenue and earnings per share. It wasn't alone, major tech companies including Microsoft and Meta beat estimates and, crucially, Robinhood's revenue from crypto doubled from the year-earlier quarter. That may foreshadow what to look for later today, when Block, Riot Platforms, Strategy and Reddit post results after the closing bell. 'The recent wave of weak macroeconomic data has pointed to both recessionary risks and rising inflation,' James Butterfill, the head of research at CoinShares, told CoinDesk. 'Despite this, bitcoin has shown remarkable resilience, outperforming the Nasdaq by 11% since 'Liberation Day'' on April 2. Indeed, while first-quarter gross domestic product (GDP) fell 0.3% and major stock indexes post posted losses in last month, bitcoin (BTC) held strong. The largest cryptocurrency rose nearly 15% against the dollar in April as investors started using it as a safe haven, along with gold and the Swiss franc. To Butterfill, risk assets are now seemingly benefiting from expectations of an earlier-than-expected interest-rate cut. 'Equities and bitcoin appear to have recoupled, both rebounding today on renewed hopes of an imminent interest-rate cut," he said. "A disappointing payroll figure on Friday — which we see as likely — could be the final nail in the coffin for Powell, paving the way for more dovish policy from the Fed." Yet in the cryptocurrency space, there's more to keep an eye on. Ethereum's long-awaited Pectra upgrade, which includes improvements to make the network more user-friendly and efficient, is going live on mainnet on May 7. The upgrade is significant for Ethereum, which has been losing ground to more efficient blockchains including Solana, Base and BNB chain. DeFiLlama data shows total value locked (TVL) on Ethereum's smart contracts grew just 4% in April, compared with 21% on Solana, and 9.9% on BNB Chain. Base saw a minor contraction. In the past year, Artemis data shows Ethereum net outflows totaled $3.3 billion, while Base and Solana saw $3.3 billion and $3.2 billion in net inflows, respectively. Still, Ethereum recorded $880 million in net inflows in April, suggesting the trend is reversing ahead of Pectra's activation. The trend has, however, taken its toll. The ETH/BTC ratio has dropped to little over 0.19, the lowest level in five years. Stay alert! Crypto: May 1: Coinbase Asset Management will introduce the Coinbase Bitcoin Yield Fund (CBYF), which is aimed at non-U.S. investors. May 1: Hippo Protocol starts up its own layer-1 blockchain mainnet built on Cosmos SDK and completes a migration from Ethereum's ERC-20 HPO token to its native HP token, enabling staking and governance. May 1, 9 a.m.: Constellation Network (DAG) activates the Tessellation v3 upgrade on its mainnet, introducing delegated staking, node collateral, token locking and new transaction types to enhance network security, scalability and functionality. May 1, 11 a.m.: THORChain activates its v3.5 mainnet upgrade, adding the TCY token to convert $200 million in debt into equity. TCY holders earn 10% of network revenue, while native RUNE remains the protocol's security and governance token. TCY activates May 5. May 5, 3 a.m.: IOTA's Rebased network upgrade starts. Rebased moves IOTA to a new network, boosting capacity to as many as 50,000 transactions per second, offering staking rewards of 10%-15% a year and adding support for MoveVM smart contracts. May 5, 11 a.m.: The Crescendo network upgrade goes live on the Kaspa (KAS) mainnet. This upgrade boosts the network's performance by increasing the block production rate to 10 blocks per second from 1 block per second. May 7, 6:05 a.m.: The Pectra hard fork network upgrade will get activated on the Ethereum (ETH) mainnet at epoch 364032. Pectra combines two major components: the Prague execution layer hard fork and the Electra consensus layer upgrade. Macro May 1, 8:30 a.m.: The U.S. Department of Labor releases unemployment insurance data for the week ended April 26. Initial Jobless Claims Est. 224K vs. Prev. 222K May 1, 9:30 a.m.: S&P Global releases Canada April purchasing managers' index (PMI) data. Manufacturing PMI Prev. 46.3 May 1, 9:45 a.m.: S&P Global releases (Final) U.S. April purchasing managers' index (PMI) data. Manufacturing PMI Est. 50.7 vs. Prev. 50.2 May 1, 10:00 a.m.: Institute for Supply Management (ISM) releases U.S. April economic activity data. Manufacturing PMI Est. 48 vs. Prev. 49 May 2, 8:30 a.m.: The U.S. Bureau of Labor Statistics releases April employment data. Nonfarm Payrolls Est. 130K vs. Prev. 228K Unemployment Rate Est. 4.2% vs. Prev. 4.2% May 2, 9:00 a.m.: S&P Global releases Brazil April purchasing managers' index (PMI) data. Manufacturing PMI Prev. 51.8 May 2, 11:00 a.m.: S&P Global releases Mexico April purchasing managers' index (PMI) data. Manufacturing PMI Prev. 46.5 Earnings (Estimates based on FactSet data) May 1: Block (XYZ), post-market, $0.97 May 1: Reddit (RDDT), post-market, $0.02 May 1: Riot Platforms (RIOT), post-market, $-0.23 May 1: Strategy (MSTR), post-market, $-0.11 May 8: Coinbase Global (COIN), post-market, $2.08 May 8: Hut 8 (HUT), pre-market May 8: MARA Holdings (MARA), post-market Governance votes & calls Compound DAO is voting on moving 35,200 COMP (~$1.5 m) into a multisig safe to test selling covered calls on COMP for USDC, lend that USDC in Compound for extra yield, then use the returns to buy back COMP and repeat, targeting roughly 15 % annual gain. Voting ends May 2. May 1, 1 p.m.: Wormhole to host an ecosystem call. May 2, 3 a.m.: Ontology to host a weekly community update on X spaces. May 5, 4 p.m.: Livepeer (LPT) to host a Treasury Talk session on Discord. Unlocks May 1: Sui (SUI) to unlock 2.28% of its circulating supply worth $261.2 million. May 1: ZetaChain (ZETA) to unlock 5.67% of its circulating supply worth $12.31 million. May 2: Ethena (ENA) to unlock 0.73% of its circulating supply worth $13.39 million. May 7: Kaspa (KAS) to unlock 0.56% of its circulating supply worth $13.96 million. May 9: Movement (MOVA) to unlock 2.04% of its circulating supply worth $12.61 million. Token Launches May 2: Binance to delist Alpaca Finance (ALPACA), PlayDapp (PDA), Viberate (VIB), and Wing Finance (WING). May 5: Sonic (S) to be listed on Kraken. CoinDesk's Consensus is taking place in Toronto on May 14-16. Use code DAYBOOK and save 15% on passes. Day 2 of 2: TOKEN2049 (Dubai) May 6-7: Financial Times Digital Assets Summit (London) May 11-17: Canada Crypto Week (Toronto) May 12-13: Dubai FinTech Summit May 12-13: Filecoin (FIL) Developer Summit (Toronto) May 12-13: Latest in DeFi Research (TLDR) Conference (New York) May 12-14: ACI's 9th Annual Legal, Regulatory, and Compliance Forum on Fintech & Emerging Payment Systems (New York) May 13: Blockchain Futurist Conference (Toronto) May 13: ETHWomen (Toronto) May 14-16: CoinDesk's Consensus 2025 (Toronto) By Shaurya Malwa Over 3.7 million tokens — or 53% — listed on GeckoTerminal since 2021 have failed, meaning they are no longer actively traded, per a CoinGecko report on Wednesday. This year alone, 1.8 million have collapsed. That's nearly half of all dead tokens in the past five years, driven by market turbulence post-Trump inauguration. The explosion in token creation, from 428,000 in 2021 to nearly 7 million by 2025, is mainly due to tools like that enable rapid memecoin launches. Most failures occurred in 2024 and 2025, as memecoin saturation and speculative hype led to short-lived, low-effort crypto projects flooding the market. Open interest across centralized exchanges has continued its steady climb, reaching $125 billion across all assets in a clear signal of growing speculative activity and market engagement. On Binance, the BTC-USDT perpetual order book heatmap reveals the next significant supply zone is at $96.2K, with ask orders totaling 321 BTC. Additionally, liquidation heatmaps show clusters around $96K, suggesting a potential magnet for price action, with liquidation pockets of $58M, $42.7M and $56.1M. Notably, the largest liquidation cluster sits at the $93K support, where $76.3M in liquidations are stacked making it a key level to watch for downside volatility. Among assets with over $100 million in open interest, the largest week-on-week increases were seen in Virtuals Protocol, MemeFi, Curve, Fartcoin, and Hyperliquid. On the funding rate front, MemeFi, Virtuals Protocol and Alchemist AI posted the sharpest increases, signaling elevated long positioning and potential overheating in sentiment. BTC is up 1.76% from 4 p.m. ET Wednesday at $96,305.26 (24hrs: +1.49%) ETH is up 2.37% at $1,838.40 (24hrs: +2.03%) CoinDesk 20 is up 1.64% at 2,787.00 (24hrs: +1.22%) Ether CESR Composite Staking Rate is down 29 bps at 2.67% BTC funding rate is at 0.0078% (1.0416% annualized) on Binance DXY is up 0.31% at 99.81 Gold is down 2.01% at $3,221.46/oz Silver is down 1.32% at $32.14/oz Nikkei 225 closed +1.13% at 36,452.30 Hang Seng closed +0.51% at 22,119.41 FTSE is unchanged at 8,494.81 Euro Stoxx 50 closed unchanged at 5,160.22 DJIA closed on Wednesday +0.35% at 40,669.36 S&P 500 closed +0.15% at 5,569.06 Nasdaq closed unchanged at 17,446.34 S&P/TSX Composite Index closed -0.13% at 24,841.68 S&P 40 Latin America closed -0.73% at 2,529.66 U.S. 10-year Treasury rate is up 4 bps at 4.17% E-mini S&P 500 futures are down 1.23% at 5,655.75 E-mini Nasdaq-100 futures are up 1.73% at 20,002.75 E-mini Dow Jones Industrial Average Index futures are up 0.83% at 41,109.00 BTC Dominance: 64.57 (0.10%) Ethereum to bitcoin ratio: 0.01914 (0.47%) Hashrate (seven-day moving average): 850 EH/s Hashprice (spot): $49.24 Total Fees: 6.59 BTC / $630,313.73 CME Futures Open Interest: 133,905 BTC BTC priced in gold: 29.6 oz BTC vs gold market cap: 8.40% After last week's explosive rally, bitcoin is consolidating in a low-timeframe range between $93,000 and $95,600. While yesterday's U.S. GDP release briefly triggered downside pressure, the price quickly recovered, and BTC is holding above the yearly open, signaling underlying strength. On the longer time frame, bitcoin remains within a supply zone, yet with a recent hourly candle closing decisively above local resistance, there's a suggestion of a potential continuation of the upward grind. If momentum persists, the next key area of interest lies between $96,000 and $98,000. Strategy (MSTR): closed on Wednesday at $380.11 (-0.35%), up 3.1% at $391.85 in pre-market Coinbase Global (COIN): closed at $202.89 (-1.57%), up 2.89% at $208.75 Galaxy Digital Holdings (GLXY): closed at $21.92 (+3.94%) MARA Holdings (MARA): closed at $13.37 (-5.98%), up 3.52% at $13.87 Riot Platforms (RIOT): closed at $7.24 (-2.43%), up 3.87% at $7.52 Core Scientific (CORZ): closed at $8.10 (-2.29%), up 5.80% at $8.57 CleanSpark (CLSK): closed at $8.17 (-3.2%), up 4.90% at $8.57 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $13.68 (-3.59%) Semler Scientific (SMLR): closed at $32.33 (-4.83%), up 3.93% at $33.60 Exodus Movement (EXOD): closed at $39.04 (-4.71%), up 1.82% at $39.75 Spot BTC ETFs: Daily net flow: -$56.3 million Cumulative net flows: $39.11 billion Total BTC holdings ~ 1.15 million Spot ETH ETFs Daily net flow: -$2.3 million Cumulative net flows: $2.50 billion Total ETH holdings ~ 3.45 million Source: Farside Investors Over the past 12 months, the supply of stablecoins has been rapidly increasing on Tron and Ethereum, data from The Tie show. Optimism and Avalanche, both Ethereum layer-2 networks, have seen a decline in favor of those layer 1s. Sam Altman's World Crypto Project Launches in U.S. With Eye-Scanning Orbs in 6 Cities (CoinDesk): World plans to deploy 7,500 eye-scanning devices across the U.S. this year, and people who use them to verify their identity will receive the project's WLD token. U.S. and Ukraine Sign Landmark Minerals Deal After Months of Fraught Negotiations (CNBC): In return for favored access to Ukraine's natural resources, Washington pledged reconstruction support, with Treasury Secretary Bessent calling the deal a signal of U.S. commitment to Ukrainian sovereignty and peace. Bank of Japan Slashes Growth Forecast as Trade War Hits (The Wall Street Journal): Japan's central bank held rates at 0.5% and cut its growth outlook to 0.5% for fiscal 2025 and 0.7% for fiscal 2026. Gold Shows Signs of Consolidation as Investment Eases, but Trump Looms (Reuters): Gold prices have dipped from record highs despite surging investment, as central-bank buying and investors grew hopeful Trump may ease global trade tensions. How India and Pakistan's Military, Nuclear Arsenals Stack Up (Bloomberg): After last week's deadly Kashmir attack, India's prime minister faces pressure to respond, and while analysts see full-scale war as unlikely, limited military conflict remains a possibility. Mesh Adds Apple Pay to Let Shoppers Spend Crypto, Settle in Stablecoins (CoinDesk): The feature aims to close the so-called last-mile gap that has stalled mass crypto adoption in payments, co-founder and CEO Bam Azizi said.
