Latest news with #JamesVanStraten
Yahoo
28-05-2025
- Business
- Yahoo
Crypto Daybook Americas: Bitcoin Dominance Tops 64% While Options Indicate Bullish Tilt
By James Van Straten (All times ET unless indicated otherwise)Since May 22, bitcoin (BTC) has been trading within a narrow 5% range between $106,600 and $111,700, despite a flurry of bullish developments, including the announcement that Trump Media will raise $2.5 billion through equity and bond sales to fund a bitcoin treasury strategy. This pause in momentum comes even as the U.S. equity market rallies, with the S&P 500 up 22% from its April lows. Notably, bitcoin appears to have front-run traditional markets, with crypto markets now entering a consolidation phase while the S&P 500 still trades 4% below its all-time highs from February. Meanwhile, the divergence between bitcoin and the broader crypto market continues to widen. Bitcoin market cap dominance now consolidates above 64%, highlighting its growing influence. At current prices near $108,000, bitcoin trades almost $14,000 above its 200-day moving average, which sits just under $94,500, underscoring the strength of its recent performance. In contrast, ether (ETH) and solana (SOL) remain subdued. Ether has been rejected three times at its 200-DMA ($2,697) and currently trades at $2,633. Similarly, SOL is priced at $173, below its 200-DMA of $181, having also faced repeated rejections. 'Ether and solana have been battling resistance in the form of their 200-day moving averages for more than two weeks now. We seem to be dealing with an indecisive market choosing between a further mighty rally and fading after a rebound. Bitcoin's rally has the potential to inspire big alts to break out, but for now, we are not there yet," Alex Kuptsikevich, Chief Market Analyst at FxPro, told CoinDesk. In the derivatives market, bitcoin options expiring at the end of May show the highest concentration of call interest at $110,000, with June and July expiries skewing more bullish, particularly at $115,000 and $120,000 strikes, according to Kaiko. The highest turnover remains around $110,000, indicating expectations of continued consolidation around current levels. On the corporate front, Circle, issuer of the USDC stablecoin, has updated its IPO filing with the New York Stock Exchange. The company aims to raise $600 million at a valuation of $5.4 billion, becoming the latest crypto firm to push toward public markets amid renewed interest in institutional crypto adoption. Stay Alert! Crypto May 30: The second round of FTX repayments starts. May 31 (TBC): Mezo mainnet launch. June 6, 1-5 p.m.: U.S. SEC Crypto Task Force Roundtable on "DeFi and the American Spirit" Macro May 28, 2 p.m.: The Fed releases FOMC meeting minutes for May 6-7. May 29, 8 a.m.: The Brazilian Institute of Geography and Statistics (IBGE) releases April unemployment rate data. Unemployment Rate Est. 6.9% vs. Prev. 7% May 29, 8:30 a.m.: The U.S. Bureau of Economic Analysis (BEA) releases Q1 GDP data. GDP Growth Rate QoQ 2nd Estimate Est. -0.3% vs. Prev. 2.4% GDP Price Index QoQ 2nd Estimate Est. 3.7% vs. Prev. 2.3% GDP Sales QoQ 2nd Estimate Est. -2.5% vs. Prev. 3.3% May 29, 2 p.m.: Fed Governor Adriana D. Kugler will deliver a speech at the 5th Annual Federal Reserve Board Macro-Finance Workshop (virtual). Livestream link. Earnings (Estimates based on FactSet data) May 28: NVIDIA (NVDA), post-market, $0.88 Governance votes & calls 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 28, 1 p.m.: Sui to host an X Spaces session on Sui DeFi. 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 $23.76 million. June 1: Sui (SUI) to unlock 1.32% of its circulating supply worth $163.22 million. June 1: ZetaChain (ZETA) to unlock 5.34% of its circulating supply worth $11.19 million. June 12: Ethena (ENA) to unlock 0.7% of its circulating supply worth $16.07 million. June 12: Aptos (APT) to unlock 1.79% of its circulating supply worth $60.51 million. Token Launches May 28: Sophon (SOPH) to be listed on Binance, BingX, KuCoin MEXC, OKX, and others. 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. June 26: Coinbase to delist Helium Mobile (MOBILE), Render (RNDR), Ribbon Finance (RBN), & Synapse (SYN) Day 2 of 3: Bitcoin 2025 (Las Vegas) Day 2 of 4: Web Summit Vancouver (Vancouver, British Columbia) 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 19-21: BTC Prague 2025 June 25-26: Bitcoin Policy Institute's Bitcoin Policy Summit 2025 (Washington) June 26-27: Istanbul Blockchain Week By Shaurya Malwa Sui's SUI jumps 6.5%, Cetus Protocol's token soars 26% as teams pledge to backstop exploit losses. Cetus Protocol, the top DEX on the Sui blockchain, secured a loan from the Sui Foundation to fully reimburse users affected by a $223 million exploit. The attacker used spoof tokens like BULLA to manipulate price curves and drain SUI, USDC, and other assets from liquidity pools. About $162 million of the stolen tokens were frozen on-chain; the rest were bridged out and may have been laundered through multiple routes. Cetus will combine the Foundation's loan with its treasury reserves to begin immediate repayments for affected users. Full recovery hinges on an upcoming community vote that would unlock the frozen funds for user compensation. At the time, the exploit caused CETUS to drop 40% and led to a sharp liquidity crunch across the Sui DeFi ecosystem, but the recovery plan has helped spark a strong market rebound. Bitcoin CME futures volume rose to $15.96 billion, the highest since Feb. 25. But the growth in open interest has stalled near $17 billion since May 21, suggesting a pause in inflows. ETH CME futures volume rose to the highest since Feb. 3, with open interest clocking a three-month high of $3.15 billion. On offshore exchanges, BTC and ETH perpetual futures signaled a moderately bullish bias with annualized funding rates holding steady below 10%. Monero's funding rate held above 90%, signaling excessive build of bullish leverage. On Deribit, BTC call bias has weakened across the board. Block flows featured short positions in the BTC May expiry call option at the $113K strike alongside demand for June and July expiry ETH call and call spreads. BTC is down 0.71% from 4 p.m. ET Tuesday at $108,821.26 (24hrs: -1.07%) ETH is down 1.54% at $2,628.1 (24hrs: -0.94%) CoinDesk 20 is down 1.35% at 3,245.33 (24hrs: -1.06%) Ether CESR Composite Staking Rate is up 11 bps at 3.1% BTC funding rate is at 0.0023% (2.4922% annualized) on Binance DXY is unchanged at 99.52 Gold is up 0.72% at $3,322.80/oz Silver is down 0.68% at $33.22/oz Nikkei 225 closed unchanged at 37,722.40 Hang Seng closed -0.53% at 23,258.31 FTSE is unchanged at 8,776.80 Euro Stoxx 50 is down 0.34% at 5,396.83 DJIA closed on Tuesday +1.78% at 42,343.65 S&P 500 closed +2.05% at 5,921.54 Nasdaq closed +2.47% at 19,199.16 S&P/TSX Composite Index closed +0.65% at 26,269.0 S&P 40 Latin America closed +0.76% at 2,619.31 U.S. 10-year Treasury rate is up 2 bps at 4.47% E-mini S&P 500 futures are up 2.02% at 5,934.75 E-mini Nasdaq-100 futures are up 2.32% at 21,461.25 E-mini Dow Jones Industrial Average Index futures are up 1.79% at 42,422.00 BTC Dominance: 64.05 (0.23%) Ethereum to bitcoin ratio: 0.02416 (-1.10%) Hashrate (seven-day moving average): 894 EH/s Hashprice (spot): $57.1 Total Fees: 6.05 BTC / $622,336 CME Futures Open Interest: 159,710 BTC priced in gold: 32.9 oz BTC vs gold market cap: 9.31% Bitcoin is teasing a downside break of the trendline characterizing the rapid price rally from early April lows near $75K. Such a move may entice more profit-taking, yielding a deeper pullback. Strategy (MSTR): closed on Tuesday at $372.2 (+0.73%), -1.15% at $367.93 in pre-market Coinbase Global (COIN): closed at $266.4 (+1.23%), -0.66% at $264.63 Galaxy Digital Holdings (GLXY): closed at C$29.97 (-5.16%) MARA Holdings (MARA): closed at $16.44 (+11.61%), -1.09% at $16.26 Riot Platforms (RIOT): closed at $9.14 (+6.9%), -1.2% at $9.03 Core Scientific (CORZ): closed at $11.28 (+5.62%) CleanSpark (CLSK): closed at $9.86 (+5.34%), -1.42% at $9.72 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $18.24 (+3.58%) Semler Scientific (SMLR): closed at $43.39 (-2.1%), unchanged in pre-market Exodus Movement (EXOD): closed at $34.75 (-0.71%), +2.88% at $35.75 Spot BTC ETFs Daily net flow: $385.4 million Cumulative net flows: $44.88 billion Total BTC holdings ~ 1.20 million Spot ETH ETFs Daily net flow: $38.8 million Cumulative net flows: $2.81 billion Total ETH holdings ~ 3.55 million Source: Farside Investors The annualized premium in ether CME futures continues to rise and has now topped the 10% mark for the first time in months. The rising premium represents bullish sentiment among sophisticated market participants. Bitcoin Surges Ahead as Strategy Stock Lags (CoinDesk): Divergence grows amid mNAV compression and a shift in Strategy's funding approach for bitcoin accumulation. Sui Network Steps in to Compensate Cetus Losses in Full After $223M Exploit (CoinDesk): The Sui Foundation has extended a loan to Cetus to fully reimburse affected users, with repayment contingent on an upcoming on-chain community vote. Are XMR Traders Buying The Dip? Monero Futures Open Interest Surges as Price Falls By Nearly $100 in 3 Days (CoinDesk): Open interest has climbed to a multi-month high alongside persistently positive funding rates, signaling aggressive long positioning despite the recent sharp correction. Path of Least Resistance for Stocks Is Higher, Barclays Says (Bloomberg): Investor positioning remains light enough to support further gains, Barclays says, with systematic buying likely to persist absent a shock and Nvidia earnings now key to near-term sentiment. Putin Has Retooled Russia's Economy to Focus Only on War (The Wall Street Journal): Analysts say peace could spark unrest, as winding down arms production may lead to factory job losses and falling incomes in poorer regions that have benefited from heavy defense spending. Zelensky Heads to Berlin in Latest Sign of a Warming Relationship (The New York Times): Zelensky has met Germany's new chancellor three times in as many weeks, highlighting Berlin's push to assume a stronger role as U.S. support for Ukraine becomes less certain. 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
24-05-2025
- Business
- Yahoo
Crypto Daybook Americas: Bitcoin Market Cap Tops $2.2T as Derivatives, Sentiment Signal More Upside
By James Van Straten (All times ET unless indicated otherwise) Bitcoin BTC is climbing up the asset ranks. The rally that this week took it to new highs has lifted its market capitalization to $2.2 trillion for the first time. It's already overtaken Amazon (AMZN) and Google (GOOG) to become the world's fifth-largest asset and now sits behind iPhone maker Apple (APPL), software developer Microsoft (MSFT) and chipmaker Nvidia (NVDA), all of which are valued at over $3 trillion. Way ahead is hard-to-produce, store-of-value gold at an estimated $22 trillion. Bitcoin's No. 5 ranking reflects its growing status among traditional and institutional investors and comes as market sentiment turns decisively bullish, with strong buying action across all investor cohorts —from whales to minnows — and the BTC price holding steady around the $110,000 level with minimal pullbacks. As the end-of-May options expiry approaches next Friday, the options market reveals significant activity, with the bulk of call —or bullish — options positioned at the $110,000 strike price and a max pain level at $96,000. Looking into June, there's a clustering of high-strike call options at $200,000 and even $300,000. That's a solid sign of traders betting on continued upward momentum. Despite bitcoin's strength, Strategy (MSTR), the largest corporate holder of bitcoin, has lagged in share price performance relative to its peers. The company recently announced a $2.1 billion at-the-market offering of its new perpetual preferred stock, STRF, intended to fund additional bitcoin acquisitions. Meanwhile, BlackRock's iShares Bitcoin Trust (IBIT) continues to dominate the institutional market, pulling in $877 million in inflows on Thursday alone and bringing its total net inflow to a staggering $47.6 billion, according to Farside data. On the macroeconomic front, the largest cryptocurrency is showing clear divergence from traditional equities, rising 5% over the past five days while the S&P 500 has slipped by more than 1%. This uncorrelated performance is reinforcing bitcoin's appeal as a macro hedge. Investors are now closely watching for Federal Reserve Chair Jerome Powell's speech on Sunday, which could prove pivotal in shaping next week's market trajectory. Stay alert! Crypto May 30: The second round of FTX repayments starts. May 31 (TBC): Mezo mainnet launch. June 6, 1-5 p.m.: U.S. SEC Crypto Task Force Roundtable on "DeFi and the American Spirit" Macro 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. Voting ends on May 29. 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 $25.64 million. June 1: Sui (SUI) to unlock 1.32% of its circulating supply worth $170.26 million. June 1: ZetaChain (ZETA) to unlock 5.34% of its circulating supply worth $12.43 million. June 12: Ethena (ENA) to unlock 0.7% of its circulating supply worth $17.32 million. June 12: Aptos (APT) to unlock 1.79% of its circulating supply worth $66.5 million. Token Launches May 23: Soon (SOON) to be listed on KuCoin, Bitget, BingX, LBank, MEXC, Phemex and others. 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 4 of 7: Dutch Blockchain Week (Amsterdam) 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 June 25-26: Bitcoin Policy Institute's Bitcoin Policy Summit 2025 (Washington) June 26-27: Istanbul Blockchain Week By Shaurya Malwa HYPE surged 15% after Hyperliquid Labs said it submitted two comment letters to the CFTC on regulating perpetual swaps and 24/7 crypto trading. The team urged U.S. regulators to embrace DeFi principles to build safer, more efficient financial markets, highlighting Hyperliquid as a working example. The communication marks a rare instance of direct engagement between a DeFi-native protocol and a major U.S. regulator, signaling growing maturity in the sector. Hyperliquid framed its high-speed, permissionless trading infrastructure as a model that could outperform traditional finance standards. With whales like pseudonymous "James Wynn" placing billion-dollar trades on the platform, regulatory recognition may add legitimacy and fuel further upside for HYPE. Despite bitcoin hitting $110,000, perpetual funding rates remain low at 0.005%. They were at 0.04% in November, indicating the market isn't overheated. Open interest in CME futures has risen 30K BTC since April,. That's still 40K BTC below November levels, reflecting relatively restrained institutional leverage. BTC is up 0.22% from 4 p.m. ET Thursday at $111,330.90 (24hrs: +0.33%) ETH is up 1.67% at $2,685.47 (24hrs: +0.53%) CoinDesk 20 is up 3.64% at 3,393.60 (24hrs: +1.12%) Ether CESR Composite Staking Rate is unchanged at 3.03% BTC funding rate is at 0.03% (10.95% annualized) on Binance DXY is down 0.61% at 99.36 Gold is up 1.13% at $3,329.50/oz Silver is up 0.77% at $33.30/oz Nikkei 225 closed +0.47% at 37,160.47 Hang Seng closed +0.24% at 23,601.26 FTSE is up 0.12% at 8,750.11 Euro Stoxx 50 is down 0.16% at 5,415.57 DJIA closed on Thursday unchanged at 41,859.09 S&P 500 closed unchanged at 5,842.01 Nasdaq closed +0.28% at 18,925.74 S&P/TSX Composite Index closed unchanged at 25,854.00 S&P 40 Latin America closed +0.3% at 2,589.68 U.S. 10-year Treasury rate is down 1 bps at 4.53% E-mini S&P 500 futures are unchanged at 5,852.50 E-mini Nasdaq-100 futures are unchanged at 21,159.75 E-mini Dow Jones Industrial Average Index futures are down 0.11% at 41,877.00 BTC Dominance: 63.70 (-0.48%) Ethereum to bitcoin ratio: 0.02410 (1.05%) Hashrate (seven-day moving average): 882 EH/s Hashprice (spot): $58.14 Total Fees: 7.92 BTC / $837,314 CME Futures Open Interest: 17,579 BTC BTC priced in gold: 33.6 oz BTC vs gold market cap: 9.51% The relative performance of Strategy (MSTR) against BlackRock's iShares Bitcoin Trust (IBIT) shows an ascending channel formation. The price action from mid-March to May is confined within a well-defined ascending channel, indicating a short-term bullish trend despite Strategy's recent pullback. The latest candles suggest a drop toward the lower boundary of the channel, which could act as a support level around the $6.10–$6.20 range. That marks a potential decision point for either a rebound or breakdown. Strategy (MSTR): closed on Thursday at $399.46 (-0.8%), up 0.1% at $399.86 in pre-market Coinbase Global (COIN): closed at $271.95 (+5%), unchanged in pre-market Galaxy Digital Holdings (GLXY): closed at C$33.84 (+9.16%) MARA Holdings (MARA): closed at $15.65 (-1.2%), up 0.32% at $15.70 Riot Platforms (RIOT): closed at $8.94 (+1.13%), up 0.22% at $8.96 Core Scientific (CORZ): closed at $10.83 (+0.46%), down 0.37% at $10.79 CleanSpark (CLSK): closed at $9.87 (-2.37%), up 0.41% at $9.91 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $18.11 (+2.03%) Semler Scientific (SMLR): closed at $44.93 (+0.09%), up 1.71% at $45.70 Exodus Movement (EXOD): closed at $35.38 (+8%) Spot BTC ETFs: Daily net flow: $934.8 million Cumulative net flows: $44.29 billion Total BTC holdings ~ 1.19 million Spot ETH ETFs Daily net flow: $110.5 million Cumulative net flows: $2.72 billion Total ETH holdings ~ 3.5 million Source: Farside Investors This chart from CoinGlass shows that bitcoin held on wallets linked to cryptocurrency exchanges on-chain has dropped dramatically since Donald Trump's inauguration. That drop reflects how demand picked up after he campaigned on a pro-crypto platform. As supply was squeezed, prices rose. U.S., Iran yo Hold Nuclear Talks Amid Clashing Red Lines (Reuters): As a fifth round of diplomacy begins in Rome, Iran rejected U.S. demands to halt uranium enrichment and warns Washington it would bear the blame if Israel attacks its nuclear sites. U.S., China Hold First Call Since Geneva Meeting, Signaling Progress in Trade Talks (CNBC): Chinese Vice Foreign Minister Ma Zhaoxu and U.S. Deputy Secretary of State Christopher Landau discussed a number of issues during the call, though neither side confirmed whether tariffs came up. Bitcoin Enters Strongest Accumulation Phase Since January as BTC Price Passes $110K (CoinDesk): Glassnode data shows all wallet cohorts are now accumulating, with options markets pricing in potential upside beyond $200K in June. Big Banks Explore Venturing Into Crypto World Together With Joint Stablecoin (The Wall Street Journal): JPMorgan, BofA, Citi, and Wells Fargo are reportedly exploring a jointly issued stablecoin via bank-operated platforms Zelle and The Clearing House. Justin Sun Defends TRUMP After Presidential Dinner, Says 'Memecoins Have Merit' (CoinDesk): Sun called the event, attended by top holders of the official Trump memecoin, a sign of U.S. crypto revival and denied the token was being used to buy political favor. China 50-Year Bond Yields Rise in Auction, First Time Since 2022 (Bloomberg): Weaker demand at Friday's auction lifted the yield to 2.1% from 1.91% in February, as easing trade tensions with the U.S. and domestic stimulus reduced safe-haven buying. Sign in to access your portfolio
Yahoo
21-05-2025
- Business
- Yahoo
Crypto Daybook Americas: Bitcoin Eyes New High as MetaPlanet Mania Builds
By James Van Straten (All times ET unless indicated otherwise) Bitcoin (BTC) bulls still seem to be in control. The largest cryptocurrency posted a record-high daily close on Tuesday, at $106,830, as it extends its strong upward momentum with minimal pullbacks, putting the previous all-time high of just over $109,000 from Jan. 20 well within reach. This price action has significantly boosted bitcoin-leveraged equities, with Japan's MetaPlanet (3350) standing out—its stock has surged 160% in 2025 alone. Strategy (MSTR), the poster boy for bitcoin buying, has added 44%. MetaPlanet has repeatedly hit Japan's daily limit-up threshold within minutes of market open, effectively freezing upward trading for the day and fueling what resembles a slow-motion short squeeze. Speculation around MetaPlanet's aggressive bitcoin accumulation, as indicated by metrics like Days to Cover mNAV, is driving investor frenzy. Still, CEO Simon Gerovich recently posted on X that MetaPlanet is now the most shorted stock in Japan, with 25% of outstanding shares held short. Meanwhile, macroeconomic conditions add to the complexity. Japanese bond yields are spiking, with the 30-year yield climbing above 3.1% and the 10-year surpassing 1.5% — the highest since 2008. In the U.K., inflation unexpectedly climbed to a 15-month high, pushing the 10-year gilt yield toward the critical 5% level. With bitcoin nearing new highs amid rising global yields and persistent inflationary pressures, markets are entering a phase of heightened volatility that demands keen attention. Stay alert! Crypto May 22: Bitcoin Pizza Day. May 22: Top 220 TRUMP token holders will attend a gala dinner hosted by President Trump at the Trump National Golf Club in Washington. May 30: The second round of FTX repayments starts. Macro Day 2 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 21, 8 a.m.: Mexico's National Institute of Statistics and Geography releases retail sales data. Retail Sales MoM Est. 0.1% vs. Prev. 0.2% Retail Sales YoY Est. 2.2% vs. Prev. -1.1% 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 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. 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 May 29. May 21, 11 a.m: Maple to host an X spaces session to 'unveil the next chapter of Maple.' May 22: Official Trump to announce its 'next Era' at the day of the dinner for the largest token 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 $22.58 million. June 1: Sui (SUI) to unlock 1.32% of its circulating supply worth $169.38 million. June 1: ZetaChain (ZETA) to unlock 5.34% of its circulating supply worth $11.33 million. June 12: Ethena (ENA) to unlock 0.7% of its circulating supply worth $15.36 million. June 12: Aptos (APT) to unlock 1.79% of its circulating supply worth $57.91 million. Token Launches May 21: Mantra (OM) to be listed on Upbeat and the app. 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 2 of 3: Avalanche Summit London Day 2 of 3: Seamless Middle East Fintech 2025 (Dubai) Day 1 of 2: Crypto Expo Dubai Day 1 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 By Shaurya Malwa and Oliver Knight Hailey Welch, aka 'Hawk Tuah Girl,' is distancing herself from the failed HAWK memecoin she promoted in December 2024, despite initially calling it a compliant, fan-focused project. On her Talk Tuah podcast, Welch said she was questioned by the FBI, gave her phone to the SEC, and was 'cleared' of wrongdoing, claiming she was an unwitting participant. Welch now says she didn't understand crypto and felt 'sick' that fans trusted her, contrasting her November 2024 enthusiasm, when she claimed to have 'learned so much' about the token. HAWK, launched on Solana, reached a $491 million market cap before crashing below $100 million within hours. It's now at $104,000, down 99% from its peak. Welch claimed user losses were $180,000, much lower than the estimated $1.2 million. Her figure excludes 10,149 token holders who never sold, per Solscan. Commentators criticized Welch for endorsing a project she didn't understand, with YouTube comments highlighting her lack of accountability. Welch's team previously stated the project was legally compliant with a Cayman foundation and that her tokens would vest over three years. BTC CME futures open interest continues to rise, topping $17 billion for the first time since February. Meanwhile, growth in ETH open interest has stalled above $2 billion. However, the premium in ETH futures is slightly higher than BTC's. On offshore exchanges, perpetual funding rates continue to flash bullish with sub-10% readings. BCH, TON perpetual funding rates remain negative, suggesting a bias for shorts and potential for a short squeeze should the market move higher. In options, flows on OTC network Paradigm featured demand for calls, especially the $180K call expiring in September. BTC is down 0.64% from 4 p.m. ET Tuesday at $106,257.16 (24hrs: +1.23%) ETH is up 0.42% at $2,525.16 (24hrs: +0.51%) CoinDesk 20 is down 0.27% at 2,268.01 (24hrs: +0.6%) Ether CESR Composite Staking Rate is down 1 bps at 3.03% BTC funding rate is at 0.0088% (9.6886% annualized) on Binance DXY is down 0.49% at 99.63 Gold is up 1% at $3,313.10/oz Silver is up 1.02% at $33.31/oz Nikkei 225 closed -0.61% at 37,298.98 Hang Seng closed +0.62% at 23,827.78 FTSE is down 0.15% at 8,768.01 Euro Stoxx 50 is down 0.45% at 5,430.16 DJIA closed on Tuesday -0.27% at 42,677.24 S&P 500 closed -0.39% at 5,940.46 Nasdaq closed -0.38% at 19,142.71 S&P/TSX Composite Index closed +0.32% at 26,055.6 S&P 40 Latin America closed -0.26% at 2,631.81 U.S. 10-year Treasury rate is up 5 bps at 4.54% E-mini S&P 500 futures are down 0.76% at 5,914.75 E-mini Nasdaq-100 futures are down 0.81% at 21,274.50 E-mini Dow Jones Industrial Average Index futures are down 0.76% at 42,447.00 BTC Dominance: 64.01 (-0.15%) Ethereum to bitcoin ratio: 0.02378 (0.63%) Hashrate (seven-day moving average): 884 EH/s Hashprice (spot): $56.1 Total Fees: 7.42 BTC / $784,400 CME Futures Open Interest: 160,155 BTC priced in gold: 32.3 oz BTC vs gold market cap: 9.15% BTC rose as high as $108,000 early today but struggled to maintain the momentum, with the hourly chart MACD histogram turning negative. Prices will likely consolidate for some time, allowing a positive reset of the MACD, following which the next leg higher could resume. Strategy (MSTR): closed on Tuesday at $416.92 (+0.85%), down 0.58% at $414.50 in pre-market Coinbase Global (COIN): closed at $261.38 (-0.99%), down 0.67% at $259.64 Galaxy Digital Holdings (GLXY): closed at C$30.52 (-3.08%) MARA Holdings (MARA): closed at $16.19 (-0.8%), down 1.17% at $16 Riot Platforms (RIOT): closed at $8.93 (-0.45%), down 1.46% at $8.80 Core Scientific (CORZ): closed at $10.92 (+0.65%), down 2.2% at $10.68 CleanSpark (CLSK): closed at $9.7 (-1.42%), down 1.65% at $9.54 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $17.99 (-0.77%) Semler Scientific (SMLR): closed at $41.88 (-3.21%), up 2.63% at $42.98 Exodus Movement (EXOD): closed at $34.51 (+1.77%), down 1.45% at $34.01 Spot BTC ETFs: Daily net flow: $329.2 million Cumulative net flows: $42.75 billion Total BTC holdings ~ 1.19 million Spot ETH ETFs Daily net flow: $64.8 million Cumulative net flows: $2.61 billion Total ETH holdings ~ 3.47 million Source: Farside Investors Strategy (MSTR) has been accumulating bitcoin at a breakneck speed, maintaining the pace even during the March-April price swoon. "From GameStop to MetaPlanet to Strategy's $60B stash, BTC is reshaping corporate finance. Discover how the '42/42 Plan' could become a blueprint for others," 21Shares said on X. Bitcoin Sets Record Daily Close With $110K as the Next Level to Watch for BTC (CoinDesk): Bitcoin set a record high close on Tuesday at $106,830 as spot ETF inflows rose and bond-market turmoil fueled concerns over fiscal stability, which analysts say could benefit BTC and gold. SEC Charges Unicoin, Top Executives With $100M 'Massive Securities Fraud' (CoinDesk): The SEC alleged Unicoin misled investors by inflating property values, overstating sales claims — touting $3 billion when only $110 million was raised — and promoting rights certificates with exaggerated return promises. U.K. Inflation Jumps, Reinforcing Bank of England's Caution (The Wall Street Journal): Annual inflation rose more than forecast to 3.5% in April on rising labor and energy costs. Projections suggest a gradual return to target by 2027. 'Days to Cover mNAV': The New Standard for Evaluating Bitcoin Equities (CoinDesk): This metric estimates how long a company would need to accumulate enough bitcoin to justify its market cap based on daily yield and net asset value multiple. Morgan Stanley Strategists Say Buy America Except the Dollar (Bloomberg): Morgan Stanley strategists expect 2026 Fed rate cuts to benefit U.S. stocks and Treasuries, while forecasting dollar weakness as growth and yield advantages over other economies shrink. IMF Urges U.S. to Curb Deficit as Trump Tax Cut Plan Stirs Debt Fears (Financial Times): The IMF's first deputy managing director said U.S. fiscal policy should aim to lower the debt-to-GDP ratio and warned that trade uncertainty remains high despite recent tariff relief. 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
20-05-2025
- Business
- Yahoo
CoinDesk Analyst Advises UK Crypto Firm to Set Up Bitcoin Treasury
U.K.-based Coinsilium Group (COIN:AQSE), which became the first blockchain firm to IPO in 2015, has announced a £1.25 million raise as it looks to establish its bitcoin BTC treasury initiative. The raise came alongside a record high in trading volume of Coinsilium Group shares, with 14 million shares changing hands on Friday. Shares are currently trading at £0.04, having risen by 24% over the past 24 hours. The company is advised by CoinDesk analyst James Van Straten, who told CoinDesk that it was "great to see record trading volumes as Coinsilium announces a bitcoin treasury." He added: "I remain focused on helping educate the UK market on bitcoin and helping the UK become a leader in this space." The move to set up a bitcoin treasury follows in the footsteps of several other companies including Strategy (formerly MicroStrategy) and Metaplanet, with the U.S. Government also outlining plans to stockpile BTC in in to access your portfolio
Yahoo
29-04-2025
- Business
- Yahoo
Crypto Daybook Americas: Bitcoin Bulls Underpin Price After Pro-BTC Candidate Loses in Canada
By James Van Straten (All times ET unless indicated otherwise) Bitcoin (BTC) remains stuck near the $95,000 mark, apparently unfazed by the Canadian election result, which saw the crypto-friendly candidate for prime minister lose his seat. Key macroeconomic data due later this week could serve as a catalyst for bitcoin's next move, with the standout being Friday's non-farm payrolls report. In the meantime, the largest cryptocurrency is reaching a series of higher lows and lower highs, forming a symmetrical triangle consolidation pattern. This setup following a strong uptrend typically implies a continuation. A decisive breakout above $95,500 could spark the next leg higher, while a drop below support would indicate a potential reversal. On the technical front, bitcoin's hashrate, which has surged over recent months and is now about 10% away from its record, is beginning to decelerate. A downward difficulty adjustment of more than 5% is anticipated in four days and will provide some much-needed relief to miners, who have been grappling with hashprice levels near five-year lows. The week's macroeconomic data include personal spending and GDP growth figures on Wednesday, though Friday's jobs report takes center stage. Economists forecast a drop in new jobs to 135,000 during April, down from March's 228,000 figure, which was the strongest in three months. The unemployment rate is projected to have held steady at 4.2%, underscoring a persistently tight labor market. The CME FedWatch Tool currently indicates a 91% probability of the Fed funds rate being held at at 4.25%–4.50% at the May 7 FOMC meeting. Also in the mix, earnings season is heating up, particularly among the 'Magnificent Seven' tech stocks. Microsoft (MSFT) and Meta (META) report after the market close on Wednesday, followed by Apple (AAPL), Amazon (AMZN) and Strategy (MSTR) on Thursday. Stay alert! Crypto: April 30, 9:30 a.m.: ProShares will debut three ETFs that will provide leveraged and inverse exposure to XRP: the ProShares Ultra XRP ETF, the ProShares Short XRP ETF and the ProShares UltraShort XRP ETF. April 30, 10:03 a.m.: Gnosis Chain (GNO), an Ethereum sister chain, will activate the Pectra hard fork on its mainnet at slot 21,405,696, epoch 1,337,856. 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. Macro April 29, 10 a.m.: The U.S. Bureau of Labor Statistics releases March JOLTs report (job openings, hires, and separations). Job Openings Est. 7.5M vs. Prev. 7.568M Job Quits Prev. 3.195M April 29, 10 a.m.: U.S. House Financial Services Committee hearing titled 'Regulatory Overreach: The Price Tag on American Prosperity.' Livestream link. April 30, 8 a.m.: Brazil's Institute of Geography and Statistics (IBGE) releases March unemployment rate data. Unemployment Rate Prev. 6.8% April 30, 8 a.m.: Mexico's National Institute of Statistics and Geography releases (preliminary) Q1 GDP growth data. GDP Growth Rate QoQ Prev. -0.6% GDP Growth Rate YoY Prev. 0.5% April 30, 8:30 a.m.: The U.S. Bureau of Economic Analysis (BEA) releases (advance) Q1 GDP growth data. GDP Growth Rate QoQ Est. 0.4% vs. Prev. 2.4% April 30, 10 a.m.: The U.S. Bureau of Economic Analysis (BEA) releases March consumer income and expenditure data. Core PCE Price Index MoM Est. 0.1% vs. Prev. 0.4% Core PCE Price Index YoY Est. 2.6% vs. Prev. 2.8% PCE Price Index MoM Est. 0% vs. Prev. 0.3% PCE Price Index YoY Est. 2.2% vs. Prev. 2.5% Personal Income MoM Est. 0.4% vs. Prev. 0.8% Personal Spending MoM Est. 0.6% vs. Prev. 0.4% Earnings (Estimates based on FactSet data) April 29: PayPal Holdings (PYPL), pre-market, $1.16 April 30: Robinhood Markets (HOOD), post-market, $0.33 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 Governance votes & calls Uniswap DAO is voting on a proposal to renew the Uniswap Accountability Committee (UAC) for Season 4, extending its mandate until the end of 2025. Voting ends April 29. Balancer DAO is voting on allocating $250,000 worth of ARB to a multisig controlled by contributors to fund testing of new automated market maker (AMM) pool models. April 30, 2 a.m.: NEO to host an Ask Me Anything (AMA) session with its founder, Da Hongfei. April 30, 12 p.m.: Helium to host a community call meeting. May 5, 4 p.m.: Livepeer (LPT) to host a Treasury Talk session on Discord. Unlocks April 30: Optimism (OP) to unlock 1.89% of its circulating supply worth $24.75 million. May 1: Sui (SUI) to unlock 2.28% of its circulating supply worth $267.86 million. May 1: ZetaChain (ZETA) to unlock 5.67% of its circulating supply worth $12.10 million. May 2: Ethena (ENA) to unlock 0.73% of its circulating supply worth $13.44 million. May 7: Kaspa (KAS) to unlock 0.56% of its circulating supply worth $14.01 million. May 9: Movement (MOVA) to unlock 2.04% of its circulating supply worth $12.35 million. Token Launches April 29: MilkyWay (MILK) to be listed on Bybit. April 29: Virtual (VIRTUAL) to be listed on 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 3 of 4: Web Summit Rio 2025 Day 2 of 2: Staking Summit Dubai April 29: El Salvador Digital Assets Summit 2025 (San Salvador, El Salvador) April 29: IFGS 2025 (London) April 30-May 1: 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) By Shaurya Malwa BNB Chain's Lorentz upgrade went live earlier Tuesday, boosting BNB token fundamentals by making the network faster and more efficient. The upgrade improved the way validators exchange data, making the process quicker and smoother to reduce delays and speed up transaction processing. It also added a method allowing validators to receive multiple blocks at once, instead of one by one. The time it takes to create a new block is reduced to about 1.5 seconds and could fall to as low as 0.75 seconds. Faster block times mean transactions are confirmed more quickly, making the network feel snappier for users. The update makes decentralized apps (dapps) like games or financial tools run faster and smoother. Developers can keep building apps the same way because the update doesn't change how the network works with their code. A faster, more efficient network attracts more users and developers, which can increase demand for BNB and make it more valuable over time. Total open interest (OI) across perpetuals, options and futures now stands at $122 billion globally, according to data from Laevitas. SUI has seen a sharp surge in derivatives activity, with its share of global perpetuals volume peaking at 5.06% ($7.12 billion) on April 25. It has since sustained volume dominance above 3.5%, significantly higher than its historical average of under 2%, suggesting renewed speculative appetite driven by recent project announcements. According to Coinalyze, the top OI gainers in the past 24 hours among tokens with market caps over $100 million are: SAFE: +123% RAY: +92% MOCA: +68% BTC is up 0.43% from 4 p.m. ET Monday at $95,009.93 (24hrs: +0.33%) ETH is up 2.81% at $1,838.46 (24hrs: +1.9%) CoinDesk 20 is up 0.85% at 2,792.69 (24hrs: -0.08%) Ether CESR Composite Staking Rate is up 28 bps at 2.975% BTC funding rate is at 0.0005% (0.5749% annualized) on Binance DXY is up 0.27% at 99.28 Gold is down 1.11% at $3,306.08/oz Silver is up 0.41% at $33.28/oz Nikkei 225 closed +0.38% at 35,839.99 Hang Seng closed +0.16% at 22,008.11 FTSE is up 0.16% at 8,430.89 Euro Stoxx 50 is unchanged at 5,168.63 DJIA closed on Monday 0.28% at 40,227.59 S&P 500 closed +0.06% at 5,528.75 Nasdaq closed -0.1% at 17,336.13 S&P/TSX Composite Index closed +0.36% at 24,798.59 S&P 40 Latin America closed +0.74% at 2,549.44 U.S. 10-year Treasury rate is down 6 bps at 4.21% E-mini S&P 500 futures are up 0.14% at 5,561.00 E-mini Nasdaq-100 futures are up 0.15% at 190557.75 E-mini Dow Jones Industrial Average Index futures are up 0.36% at 40,515.00 BTC Dominance: 64.24 (-0.24%) Ethereum to bitcoin ratio: 0.01928 (1.80%) Hashrate (seven-day moving average): 842 EH/s Hashprice (spot): $48.7 PH/s Total Fees: 6.98 BTC / $651,628 CME Futures Open Interest: 132, 750 BTC BTC priced in gold: 28.6 oz BTC vs gold market cap: 8.10% Ether (ETH) is showing signs of recovery after reclaiming the value area (defined by the two blue dotted lines), suggesting a return to its high-volume price zone established since the October 2023 rally. The Point of Control (PoC) remains near $2,200, serving as a major magnet for price action and a critical bullish target. ETH is also approaching the 50-day exponential moving average (EMA), a potential inflection point that may spark volatility. The level is particularly notable because many altcoins have beaten ether to reclaim their 50-day EMAs. Importantly, price action has now broken above the descending trendline stemming from the December 2024 high, a key structural shift favoring bullish momentum. Upside targets include: $2,104 to confirm a higher high $2,200 (PoC), volume-weighted focal point $2,480 (200-day EMA), long-term resistance To maintain its bullish bias, ETH must hold above the lower boundary of the value area (~$1,745), or risk a return to bearish sentiment. Strategy (MSTR): closed Monday at $369.25 (+0.15%), up 0.30% at $370.34 in pre-market Coinbase Global (COIN): closed at $205.27 (-2.08%), up 0.58% at $206.47 Galaxy Digital Holdings (GLXY): closed at $21.21 (2.81%) MARA Holdings (MARA): closed at $14.01 (-2.03%) Riot Platforms (RIOT): closed at $7.63 (-1.8%), up 0.39% at $7.66 Core Scientific (CORZ) closed at $8.24 (-0.84%), up 1.21% at $8.34 CleanSpark (CLSK): closed at $8.57 (-4.88%), up 0.12% at $8.58 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $14.33 (-1.58%) Semler Scientific (SMLR): closed at $35.37 (-3.99%), up 1.78% at $36.00 Exodus Movement (EXOD): closed at $42.18 (-7.30%), up 1.92% at $42.99 Spot BTC ETFs: Daily net flow: $591.2 million Cumulative net flows: $38.99 billion Total BTC holdings ~ 1.14 million Spot ETH ETFs Daily net flow: $64.1 million Cumulative net flows: $2.48 billion Total ETH holdings ~ 3.40 million Source: Farside Investors BTC dominates derivatives, with $32.97B in open interest (OI), over 40% of the total and more than double ETH's $12.26B. Memecoins like DOGE, TRUMP, PEPE and FARTCOIN each exceed $480M in OI, outperforming many large-cap assets, showing the strength of memecoins within derivatives positioning. ETH + SOL combined ($16.11B) remain fall far short of BTC's OI, underscoring bitcoin's continued derivatives supremacy. Bitcoin-Friendly Poilievre Loses Seat as Carney's Liberals Win 2025 Election (CoinDesk): Conservative Leader Pierre Poilievre lost his Ottawa-area seat as Mark Carney's Liberal Party won enough seats to form at least a minority government. Canadian Dollar Slips as Liberals Head for Only Narrow Victory (Bloomberg): Prime Minister Mark Carney faces pressure to ease Canada's reliance on its southern neighbor as the currency remains sensitive to trade negotiations and U.S. tariff risks. DOJ Seeks 20-Year Sentence for Celsius Founder Alex Mashinsky (CoinDesk): Mashinsky pleaded guilty to deliberately misleading customers about the safety of their deposits while manipulating the CEL token for personal gain. Sentencing is set for May 8. Russia Hopes Warmer Weather Will Boost Flagging Spring Offensive (The Wall Street Journal): Ukrainian forces have stalled Russia's advances this spring, but analysts warn warmer weather will harden ground and thicken cover, making future attacks harder to repel. Gold Prices Drop as Tariff Concerns Ease; US Data in Focus (Reuters): Growing risk appetite, supported by U.S. Treasury Secretary Scott Bessent's statement that several major trading partners have made strong proposals, is reducing demand for gold. EU Faces Trade War on Many Fronts (Financial Times): European Commission President Ursula von der Leyen's strategy is to negotiate with Trump, strengthen trade with other nations, and lower internal market barriers to support EU exporters. Sign in to access your portfolio
