Summary
gm, Bitcoin reached a multi-month high of $105,720 before experiencing a slight correction. This surge was influenced by positive news regarding US-China trade talks, which also boosted traditional markets. Ethereum continued its strong performance, rising to $2,600, while Lido DAO faced a security challenge with a compromised oracle. Meanwhile, regulatory progress was evident as BitGo secured a MiCA license for EU-wide operations, and Dubai announced plans to accept cryptocurrencies for government payments, partnering with Crypto.com to facilitate this transition.

News Headlines
💼 Strategy Acquires 13,390 Bitcoin for $1.34B as Price Tops $100K

  • Michael Saylor's Strategy has purchased 13,390 Bitcoin for $1.34 billion, increasing their total holdings to 568,840 BTC.
  • The acquisition occurred between May 5 and May 11, with an average purchase price of $99,856 per Bitcoin.

🏦 Coinbase to Join S&P 500 Index on May 19

  • Coinbase Global (COIN) will be added to the S&P 500 index on May 19, replacing Discover Financial Services.
  • This inclusion will enable millions of investment portfolios to gain exposure to Coinbase's stock.

💡 SEC Chair: Blockchain 'Holds Promise' for New Market Activities

  • SEC Chair Paul Atkins announced a shift towards clear rulemaking for crypto assets, moving away from enforcement-first policies.
  • Atkins highlighted blockchain technology's potential to enable new market activities not currently addressed by existing regulations.

⚖️ BlackRock Flags Quantum Computing as Risk for Bitcoin ETFs

  • BlackRock identified quantum computing as a potential threat to Bitcoin and other blockchain networks in its updated regulatory filing for the iShares Bitcoin ETF.
  • The filing includes a detailed overview of how emerging technologies might compromise the cryptographic security underpinning Bitcoin.

🚀 Dogecoin Traders Predict 180% Price Rally if Bitcoin Gains Continue

  • Dogecoin has surged 38% in May, with traders optimistic about a potential 180% rally targeting prices between $0.65 and $1.
  • Recent data indicates a dominant buying trend in the last 90 days, suggesting robust accumulation similar to past breakout rallies.

Market Metrics

Fundraising & VC
1. Turtle Club (Seed, $6.2M) - Web3 distribution protocol
2. DoubleUp (Seed, $4M) - Decentralized casino built on Sui blockchain

Regulatory
💰 Dubai Government to Accept Crypto Payments

  • Dubai's finance department will begin accepting cryptocurrencies for government payments in collaboration with Crypto.com.
  • This initiative aims to support Dubai's ambition of becoming cashless and enhancing the efficiency of government transactions.

🏙️ NYC Mayor Pushes to Make New York the "Crypto Capital"

  • Mayor Eric Adams announced New York City's first official crypto summit, reaffirming his goal to position the city as a global crypto hub.
  • The summit aims to facilitate collaboration between public officials and private sector innovators in the crypto space.

🏧 Arizona Governor Signs Crypto ATM Regulation Bill

  • Governor Katie Hobbs vetoed two crypto bills but signed HB 2387, introducing strict regulations for crypto ATMs.
  • The new law mandates fraud warnings, transaction caps, and compliance with anti-money laundering protocols for crypto ATM operators.

🚫 UK Judge Issues Restraining Order Against Craig Wright

  • A British High Court judge issued a restraining order against Craig Wright, preventing him from filing further defamation suits.
  • The judge noted Wright's actions were part of a pattern of legal abuse aimed at claiming false identity as Bitcoin's creator.

💼 Australia Appoints New Assistant Minister Amid Crypto Regulation Push

  • Andrew Charlton named as new Assistant Minister for Science, Technology, and the Digital Economy as government pushes for crypto regulation.
  • Australia plans to introduce a regulatory framework requiring major crypto platforms to obtain an Australian Financial Services Licence.

Technical Analysis
Bitcoin - Bitcoin is in a rising trend channel in the short term. This shows that investors over time have bought the currency at higher prices and indicates good development for the currency. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the currency has support at approximately 93000 points. Positive volume balance strengthens the currency in the short term. The currency is overall assessed as technically positive for the short term.

Ethereum - Ethereum has broken up through the ceiling of the rising trend channel in the short term, which signals an even stronger rising rate. The positive development, however, may give rise to short term corrections down from today's level. The currency has support at points 2050 and resistance at points 2760. Positive volume balance, with high volume on days of rising prices and low volume on days of falling prices, strengthens the currency in the short term. RSI is above 70 after a good price increase the past weeks. The currency has strong positive momentum and further increase is indicated. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The currency is overall assessed as technically positive for the short term.