Cryptocurrency analytics firm MakroVision has shared a remarkable assessment of Bitcoin’s recent price movements. According to the company’s analysis, BTC has signaled a strong rally again by easily breaking through the resistance level at $95,900. All eyes are now on the next major resistance area at $98,600. MakroVision described Bitcoin’s recovery from around $75,000 as “impressive.” In particular, the breakdown of the red downtrend line stood out as the technical development that ignited the fuse of the current rise. In the analysis, it was noted that the $98,600 level was an important liquidity area, and that if this level was exceeded, BTC could head towards higher target areas such as $102,000 and $106,400. Related News: Last Minutes Remaining - FED to Announce Interest Rate Decision, Here Are Expert Expectations and Predicted Date for First Rate Cut On the other hand, it has been argued that the first important support level for Bitcoin is now at $91,700. In case of a possible decline below this level, the support area around $87,500 continues to maintain its importance. At the end of the analysis, MakroVision stated that Bitcoin is moving towards the next resistance level, while drawing investors' attention to the question: “Will BTC be able to achieve the next breakout or is a new correction wave coming?” *This is not investment advice. Continue Reading: Following the Surge, Analysis Company Publishes Current Bitcoin Technicals – Here’s the Area That Needs to Be Surpassed for the Rally to Begin
Bitcoin Core developers have announced plans to remove the 80-byte limit on the OP_RETURN field in Bitcoin transactions in the upcoming network upgrade. OP_RETURN is a special output type used to embed data within Bitcoin transactions, and the current cap restricts the amount of extra data that can be stored. This change is seen as a major upgrade, potentially the most important since Taproot, and is motivated by the rise of large-data inscriptions such as Bitcoin Runes tokens and Ordinals. The proposal, originally put forward by early Bitcoin developer Peter Todd, aims to reduce harm by allowing more data storage flexibility but has sparked debate within the community. Critics argue the removal could lead to increased spam on the blockchain, while supporters believe it will enable more innovative uses of Bitcoin’s blockspace and let market forces decide its application. The upgrade reflects ongoing discussions about Bitcoin’s governance and its foundational principles of separating money from state and reducing corporate control over the economy. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
Summary Bitcoin's market share hits a 4 year-high, sparking debate about its role as a safe haven asset. On-chain data and technical analysis suggest $93,000-$95,000 is a critical price range. Bitcoin ETFs are seeing increased inflows, particularly BlackRock's IBIT, signaling potential bullish movement. Crypto regulation remains complex, with some states like New Hampshire moving forward while others stall. By Zain Vawda Bitcoin prices ( BTC-USD ) have been consolidating since April 25 just below the 95000 mark with a brief foray higher being met by selling pressure. The world's largest cryptocurrency continues to defy market dynamics as it now accounts for around 65% of the entire crypto market cap, the highest level since 2021. Bitcoin has enjoyed a rollercoaster ride over the past four months which largely mirrors the overall market dynamic. As usual the naysayers were once again in full voice as price dipped toward the 75000 mark in early April after markets dealt with the shock of US President Donald Trump's universal tariff announcement. Since then however, Bitcoin has risen to a high of around 97900 a gain of around 30% from the early April lows. This at a time when risk assets have struggled and safe haven assets saw significant inflows. Is this another sign that markets are starting to see the world's largest crypto as a safe haven or diversification hedge against uncertainty? I believe it is, but many may disagree. Looking ahead though and there are differing takes on where Bitcoin may be headed. I have been looking through some data from GlassNode and there are some interesting takeaways that paint an interesting picture. Let us break these down below. Glassnode on-chain analytics According to Glassnode, the current price range between 93000 and 95000 where price found support multiple times between November 2024 and February 2025 may hold the key. To understand the current market momentum, we can look at how it reacts to key technical and on-chain indicators. When these two align, they give a stronger, clearer signal. For this analysis, we’re focusing on the 111DMA, a commonly used technical average for measuring Bitcoin momentum, and the Short-Term Holder cost basis, a pricing level that often separates bullish and bearish market trends. 111DMA is at $91.3K, and the Short-Term Holder cost basis is at $93.2K. The price recently moved above both levels and is now trying to stay within this range. This shows a solid upward trend. However, these levels need to be broken and maintained to see further price growth. If the price falls below this zone, it could turn bearish again, leaving investors with significant unrealized losses. Source: Glassnode For now, price has been holding above these levels with any attempt to break lower being met with significant buying pressure. However, in order for the bulls to take charge a break and consolidation above the 95000 handle will likely be needed. ETF inflows return Bitcoin ETFs are enjoying a renaissance of late with BlackRock ishares Bitcoin trust delivering inflows on Friday, May 2 of $674.91 million. No other Bitcoin ETF saw inflows on Friday However, ETF flows have been strong since mid-April. The last 3 days however have seen flows of around $1.52 billion, a sign that a bullish breakout may be incoming? Source: Farside Investors Source: Farside Investors Another positive for ETF flows around Bitcoin comes from BlackRock once more. BlackRock's iShares Bitcoin Trust (IBIT) has brought in more money this year than the biggest gold-backed ETF. On May 6, Bloomberg’s Senior ETF analyst Eric Balchunas shared that IBIT is now the sixth-highest fund in the US based on year-to-date inflows. The data shows that IBIT has attracted over $6.9 billion since January, beating SPDR Gold Shares (GLD), which brought in about $6.5 billion despite a 23% rise in returns. Is regulation still coming? Crypto regulation in the US has been a major talking point in 2025. There had been hopes that regulation would finally get the clarity many had been hoping for. So far, there has been a lot of movement at the SEC and on the regulatory front but it appears that every step forward is followed by two steps back. Bitwise CIO Matt Hougan worries Congress might mess up key crypto regulations at the last moment. The GENIUS Act, once a bipartisan stablecoin win, lost critical support due to concerns about Trump’s role in crypto. This could stall other crypto bills too. Still, Hougan believes crypto can hit new highs, with bitcoin possibly soaring past $200K, if Congress passes stablecoin and market structure bills. "The next weeks are critical," he said. "Legislation failure could mean a tough summer for crypto, but success could spark an unstoppable bull run." A positive announcement did materialize today however, with New Hampshire becoming the first U.S. state to approve a "Strategic Bitcoin Reserve" bill, allowing its treasury to invest in digital assets. Other states, like Arizona, Illinois, Maryland, Michigan, and Texas, are considering similar laws inspired by a plan from a pro-Bitcoin nonprofit. On the other hand, Florida has put its bills, House Bill 487 and Senate Bill 550, on hold, stopping plans to allow certain public funds to invest in bitcoin. All in all a mixed bag and sentiment at present one could say. There does appear to be more optimism than pessimism at this point, so one can only hope that crypto regulation arrives in time and provides a summer crypto boost that many enthusiasts are hoping for. Technical Analysis - BTC/USD Bitcoin (BTC/USD) from a technical standpoint has found support at the 93000 handle which has held firm since April 25. Today's daily candle is on course for a close above the 95000 key level and may close as a hammer candlestick. This could set the stage for further gains, although it is important to remember that the previous foray above this level was met with significant selling pressure at 97000. The next area of resistance rests at the recent high at 97900 before the 100000 level comes into focus. As long as the 93000 handle holds the bulls will remain interested. If the 93000 handle makes way then support may be found at 91804 and the psychological 90000 handle. Bitcoin (BTC/USD) Daily Chart, May 7, 2025 Source: TradingView.com Original Post
Uncertainty is driving gold’s price momentum, according to analysts at the capital markets newsletter The Kobeissi Letter. The Kobeissi Letter’s official account on the social media platform X notes that heading into this year, gold had been underperforming the S&P 500 by approximately 10% since 2020. “However, as uncertainty has risen, GLD is now up +109% since 2020 compared to +74% in the S&P 500. But, why are gold prices surging even as the market recovers? Uncertainty remains the answer.” Source: KobeissiLetter/X The analysts also note that gold funds witnessed approximately $8 billion in net inflows three weeks ago, a record-setting total they say suggests “a continued flight to safety.” “As a result, the four-week moving average of inflows jumped to ~$4 billion, also an all-time high. This is likely the strongest gold market of all time.” Source: KobeissiLetter/X They also say central bank buying remains “historically strong.” The newsletter notes that f oreign holdings of Treasuries as a percentage of US government debt have fallen to approximately 23%, the lowest in more than two decades. The analysts, citing data from macro strategist Otavio Costa, also note that gold holdings as a percentage of global reserves have surged to approximately 18%, the highest in 26 years. Source: KobeissiLetter/X The Kobeissi Letter also points out that the US Dollar Index (DXY) recently plunged to a 52-week low. The DXY measures the strength of the USD against a basket of other major foreign currencies. “The US Dollar, DXY, has weakened by nearly 10% since the trade war began. A weaker dollar makes USD-denominated gold cheaper for foreign investors. Gold is almost serving as a leading indictor for tariffs.” Source: KobeissiLetter/X Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Analysts Say Gold Likely in Strongest Market of All Time Amid Central Bank Accumulation and US Dollar Weakness appeared first on The Daily Hodl .
Onchain sleuth and security analyst ZackXBT claims to have identified an additional $45 million in funds stolen from Coinbase users through social engineering scams in the past seven days alone. According to the onchain detective, the $45 million figure represents the latest financial losses in a string of social engineering scams targeting Coinbase users, which ZackXBT said is a problem unique among crypto exchanges: "Over the past few months, I have reported on nine figures stolen from Coinbase users via similar social engineering scams. Interestingly, no other major exchange has the same problem." Cointelegraph reached out to Coinbase but was unable to get a response by the time of publication. Source: ZachXBT The claims made by ZackXBT place the total amount lost by Coinbase users to social engineering scams at $330 million annually and reflect the growing number of sophisticated attack strategies employed by threat actors to defraud crypto holders. Related: $330M Bitcoin social engineering theft victim is elderly US citizen FBI issues warnings on social engineering scams targeting crypto users In July 2024, reports emerged that several Coinbase users were targeted by scammers posing as the exchange's support staff. The scammers managed to drain $1.7 million from one user. The United States Federal Bureau of Investigation (FBI) issued a warning in August 2024, sounding the alarm on scammers posing as crypto exchanges in an attempt to steal user funds and sensitive user data. The FBI expanded this warning in September 2024, highlighting the use of fake employment offers from scammers targeting crypto users. According to the FBI, North Korean state-affiliated hacking groups would direct victims to download malicious software by disguising the software packages as employment tests, job applications, and information on investment opportunities. More recently, in March 2025, crypto users reported an uptick in scam emails imitating legitimate communication from crypto exchanges, directing users to withdraw their funds to external wallets. The growing variety and sophistication of social engineering scams prompted Coinbase chief security officer Phillip Martin to call for streamlining the scam reporting process by having a single, unified framework or repository for identifying and combating scams. Magazine: Real AI use cases in crypto, No. 3: Smart contract audits & cybersecurity
Attorneys for Alex Mashinsky, the disgraced co-founder of crypto lending platform Celsius, are slamming the Department of Justice (DOJ)’s recommendation to keep their client behind bars for the rest of his life, instead asking for a lenient one-year sentence. In a new court filing , Mashinsky’s lawyers say that the government paints an unfair picture that makes it seem like he’s a monster rather than a first-time non-violent offender. “The Court should impose a sentence of no more than 366 days. The government’s venom-laced submission recasts this case as one involving a predator with an intent to ‘target’ victims, ‘harm’ them, and ‘steal’ their money. It concludes by recommending that a first-time, non-violent offender who pled guilty and accepts responsibility receive a death-in-prison sentence.” The lawyers further go on to note that the DOJ is completely ignoring Mashinsky’s past, which includes starting many successful businesses as well as serving for the Israeli army. “There is no acknowledgment of the injuries and losses he suffered as a member of the Israeli Defense Forces. There is not even a passing nod to the businesses he founded over thirty years in heavily regulated environments that brought him success well before Celsius, with nary a blemish on his record. The government would have the Court believe that Alex was born at 59 years old, a fiend. Ignoring his background is unsurprising; it renders all the more absurd the notion that a man dedicated to service throughout his life suddenly underwent a Jekyll-to-Hyde transformation.” Mashinsky was arrested in July 2023 after being charged with violating securities law by the U.S. Securities and Exchange Commission (SEC). In December 2024, he pleaded guilty to perpetrating a multi-billion-dollar crypto fraud and other market manipulation schemes. At the time, the DOJ said Mashinsky falsely represented Celsius as a safe and secure platform as well as exaggerated its potential for profitability, greatly inflating its user base. Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/ValDan22 The post Alex Mashinsky’s Lawyers Slam DOJ’s ‘Death-in-Prison’ Recommendation, Ask for Lenient One-Year Sentence appeared first on The Daily Hodl .
Bitcoin exchange-traded funds (ETFs) saw their three-day inflow streak broken with $86 million in net outflows, primarily due to a sharp drawdown from Grayscale’s GBTC. Ether ETFs also took a hit, recording an $18 million exit, entirely from Fidelity’s FETH. GBTC and FETH Lead the Exit for Bitcoin and Ether ETFs The tide briefly turned
Domain name service sns.sol, which runs on the Solana blockchain, shared details of the anticipated SNS token airdrop. A total of 2 billion SNS tokens (20% of the total supply) will be distributed via airdrop during the Genesis phase. 1.5 billion of these will be allocated to approximately 275,000 wallets that hold .sol domain names at the time of the snapshot. Individual domain owners will be able to apply to benefit directly from this distribution. The remaining 500 million tokens will be donated to ecosystem members to support the development of the SNS community. The project claims that the distribution model adopts the principle of “no pre-sale, no private sale”, and announced that the initial amount to be put into circulation will be only 25% of the total supply. Related News: BREAKING: FED Announces Much-Anticipated Interest Rate Decision - Here's Bitcoin's First Reaction Additionally, the remainder of the SNS token supply is planned as follows: 2 billion tokens can be claimed by LFG event participants, 2 billion tokens are reserved for future inflation-based distributions, 2.625 billion tokens allocated to support ecosystem growth, 500 million tokens are reserved for liquidity pools, While 875 million tokens will be allocated to the core team, this amount will be subject to a 4-year lock period and a 1-year cliff period. *This is not investment advice. Continue Reading: Project That Has Been Anticipated for a Long Time Finally Announces Its Airdrop Distribution – Here Are the Details
Bitcoin rises as Fed leaves rates unchanged: Crypto World $BTC #Bitcoin
This is a segment from the Forward Guidance newsletter. To read full editions, subscribe . The Federal Open Market Committee (FOMC) today, as expected, kept interest rates unchanged. Committee members cited a “stabilized” unemployment rate, “solid” labor market and continued elevated inflation. However, they noted there’s now an increased risk that unemployment and inflation will rise in the coming months. Stocks were mostly flat on the news. The S&P 500 was up 0.2% on the day, as of 2:30 pm ET. The Nasdaq Composite was trading 0.3% lower. “If the tariffs that have been announced are sustained, they’re likely to generate a rise in inflation, a slowdown in economic growth and increase in unemployment reflecting a one-time shift in the price level,” Fed Chair Jerome Powell said shortly before publication. The Fed’s focus on the unemployment rate in today’s statement suggests that a so-called “Fed put” (the central bank stepping in to lower rates and prevent a sharp market decline) will not come until — or unless — the labor market starts to deteriorate. In other words, should tariffs spur significant layoffs, we could be looking at an interest rate cut sooner rather than later. Committee members did not release projection materials this month, so it’s hard to know how they’re thinking about the impact of new and pending tariffs. In March, FOMC members indicated they still expect two cuts in 2025. It’s been a tumultuous six weeks for markets since the Fed’s last meeting in March. Stocks whipsawed along with President Trump’s tariff policies at the beginning of April — rising and falling as optimism over trade deals fluctuated. In the past couple of weeks, though, major indexes have erased their “Liberation Day” losses. As of Tuesday’s close, the S&P 500 was up 0.5% from April 2. The Nasdaq Composite gained 2.8% in that period, no doubt benefiting from tech giants’ positive Q1 earnings . Investors are, apparently, confident that the looming trade war won’t be so bad after all. Pushing the start date for most tariffs on foreign imports and granting exemptions for the select tech and auto levies helped markets rally. While fears around tariff impact may be easing, analysts warn that many of the trade policies — and their impact on prices, consumer spending and the labor market — remain to be seen. In a constantly changing situation, traders must be cautious to give credence to any single statement. Case in point: Trump just after 2 pm ET said he wasn’t open to lowering the 145% tariff rate on China. This comes hours after China said it agreed to meet with the White House. The decision comes after weeks of President Trump urging Powell to cut rates. Trump quelled fears that he’d attempt to remove Powell, but tension between the two remains. Since November, Powell has been consistent in his stance that he will be waiting and watching the data before making any decisions. So don’t expect committee members to cut rates on headlines. Get the news in your inbox. Explore Blockworks newsletters: Blockworks Daily : Unpacking crypto and the markets. Empire : Crypto news and analysis to start your day. Forward Guidance : The intersection of crypto, macro and policy. 0xResearch : Alpha directly in your inbox. Lightspeed : All things Solana. The Drop : Apps, games, memes and more. Supply Shock : Bitcoin, bitcoin, bitcoin.