Summary
gm, Bitcoin surged past $94,000, showing a 10% gain over the week, with analysts predicting potential further increases to $100,000 or beyond. This bullish sentiment is supported by strong buying activity in US spot Bitcoin ETFs. Meanwhile, President Trump's evolving stance on cryptocurrencies has garnered attention, with his TRUMP meme coin experiencing an 85% weekly surge despite impeachment calls. In regulatory news, Alabama's Securities Commission dropped its enforcement action against Coinbase, signaling a potential easing of regulatory pressure on digital asset firms. Additionally, DeFi Development Corp. announced plans to raise $1 billion to bolster its Solana-focused treasury strategy, reflecting growing corporate interest in cryptocurrency investments.

News Headlines
📈 Bitcoin Power Law Model Forecasts $200K BTC Price in 2025

  • A new analysis indicates that Bitcoin could reach $200,000 in Q4 2025, driven by power curve trends and its historical alignment with gold prices. Bitcoin recently experienced an 11% price increase, marking its best weekly return of 2025.
  • Analysts suggest that as Bitcoin transitions into the 'Acceleration' zone, it could target prices of $106,000, $130,000, and $163,000 progressively leading up to 2025's end. The ongoing decline of the US Dollar Index (DXY) could further support this outlook.

🌐 Adam Back Predicts $200T Bitcoin Market Cap in Next Decade

  • Adam Back, CEO of Blockstream, predicts that investment firms with Bitcoin-focused treasuries could drive Bitcoin's market cap to $200 trillion in the next decade. He describes this as a massive strategy for corporate treasuries to transition to Bitcoin for sustainability and scalability.
  • Back emphasizes that the drive towards hyperbitcoinization will be bolstered by Bitcoin's price outpacing fiat inflation, making treasury strategies not a fleeting trend but a logical, sustainable arbitrage.

⚖️ Celsius Victims Demand Life Sentence for Alex Mashinsky

  • Victims of Celsius Network are demanding a life sentence for founder Alex Mashinsky, claiming he has caused extensive harm to their lives. More than 200 victim impact statements have been submitted ahead of his sentencing on May 8.
  • Mashinsky pleaded guilty to felony counts involving misleading customers about the company's financial health and manipulating the price of its native token, CEL. The collapse of Celsius trapped $4.7 billion of customer assets, a significant event in the 2022 crypto winter.

🎮 GameFi Tokens Surge Following Gala Games and White House Collaboration

  • Gala Games partnered with the White House to create a blockchain-based Easter Egg Hunt, leading to a surge in GameFi tokens. The GALA token rose by 18%, and GameFi tokens increased by 13%.
  • This event aimed to introduce blockchain technology to families in a user-friendly way, with over 300,000 games played and around 100,000 new accounts created. The initiative showcases how integrated partnerships could potentially broaden the GameFi sector's reach.

🖥️ Huawei to Test AI Chip Rivaling Nvidia Amid US-China Tensions

  • Huawei prepares to test its Ascend 910D AI chip, aiming to compete with Nvidia's high-end processors amid escalating US-China trade tensions.
  • The development reflects China's push for technological self-reliance, particularly in AI and semiconductor capabilities, which could impact the global tech and crypto landscape.

Market Metrics

Fundraising & VC
No fundraising data today.

Regulatory
🕯️ SEC Commissioner Likens US Crypto Rules to 'Floor is Lava' Game

  • SEC Commissioner Hester Peirce compared the current U.S. crypto regulatory environment to playing 'the floor is lava' in the dark, highlighting the need for clearer rules.
  • The lack of clear regulations makes it challenging for financial firms to engage with crypto assets and establish a robust custodial framework.

💰 El Salvador Continues Bitcoin Purchases Despite IMF Agreement

  • El Salvador purchased 7 Bitcoin worth over $650,000 despite an IMF agreement to halt government Bitcoin accumulation.
  • The country is finding ways to comply with the IMF deal while maintaining its Bitcoin-friendly stance, highlighting the tension between financial innovation and traditional economic policies.

📊 Trump Announces Potential Federal Tax Cuts Tied to Tariffs

  • President Trump suggests federal income taxes may be substantially reduced or eliminated as tariffs are implemented, potentially impacting crypto markets.
  • The proposed shift from traditional taxation to an "External Revenue Service" based on import tariffs could have significant implications for the US economy and crypto adoption.

👟 Nike Faces $5 Million Lawsuit Over NFT Platform Shutdown

  • Nike is being sued for $5 million in a class-action lawsuit for allegedly operating a "rug pull" when it closed its NFT platform RTFKT.
  • The case raises questions about the legal status of NFTs and the responsibilities of companies launching NFT projects.

🌐 Trump-Backed World Liberty Financial Partners with Pakistan Crypto Council

  • World Liberty Financial signs a letter of intent with the Pakistan Crypto Council to promote crypto adoption in Pakistan.
  • The partnership aims to establish regulatory sandboxes, enhance stablecoin usage for remittances, and explore tokenization of real-world assets in the country.

Technical Analysis
Bitcoin - Bitcoin is in a rising trend channel in the short term. Rising trends indicate that the currency experiences positive development and that buy interest among investors is increasing. The currency has broken up through resistance at points 93000. This predicts a further rise. In case of negative reactions, there will now be support at points 93000. 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.

Ethereum - Ethereum has broken the ceiling of the falling trend in the short term, which indicates a slower initial falling rate. The currency is approacing resistance at 1880 points, which may give a negative reaction. However, a break upwards through 1880 points will be a positive signal. The currency is assessed as technically negative for the short term.