Bitcoin ( BTC ) launches into US CPI week with new multimonth highs as traders dig in for volatility. BTC price action is giving increasingly bullish signals, joined by a key cross on the weekly MACD indicator. The weekly close fell just short of expectations, raising doubts over whether price discovery will return in the immediate future. CPI and PPI headline the week’s US macro data drops, but markets are all about the US-China trade deal and its implications. Bitcoin supply in loss drops below 2% in a rare test of hodlers’ staying power. Despite the gains, crypto market sentiment remains cool amid a lack of mainstream interest. Bitcoin MACD cross copies October 2024 Bitcoin managed to preserve its highest levels since January around the weekly close as bulls battle resistance below all-time highs. Volatility was visible over the weekend thanks to BTC/USD staying sensitive to developments around US trade tariffs. On the hourly chart, these manifested as snap moves up and down before a broad sideways trend continued, resulting in several “long wick” candles. That pattern continued into the week’s first Wall Street open, with Bitcoin hitting new highs of $105,706 on Bitstamp, per data from Cointelegraph Markets Pro and TradingView . BTC/USD 1-hour chart. Source: Cointelegraph/TradingView “Price action was making it seem like something big was coming. Any tiny dip was getting scooped up instantly and price started to move ~1 hour prior to the announcement,” popular trader Daan Crypto Trades wrote about the tariffs phenomenon in part of a post on X . “We're seeing quite a lot of ‘aware’ price action precede big announcements lately. The insider/leaking is real and it's used to trade our markets. Keep in mind, seeing this is such a big one including two major countries, it could be anyone anywhere.” BTC/USDT perpetual swaps 15-minute chart. Source: Daan Crypto Trades/X Fellow trader James Wynn continued by forecasting additional volatility to come. “It’s about to get seriously volatile for $BTC. Sharp wicks down, sharp wicks up,” part of his own X post stated . An accompanying chart showed exchange order book liquidity from monitoring resource CoinGlass . To the upside, $106,000 was the key area to break through on low timeframes. BTC liquidation heatmap. Source: CoinGlass Others pointed to a bullish cross on the moving average convergence/divergence ( MACD ) indicator, which on weekly timeframes provided a key upside impetus. “Probably the biggest signal you can get at the moment,” popular trader Moustache summarized to X followers, noting that the last such cross was in October 2024 . BTC/USD 1-week chart with MACD data. Source: Moustache/X As Cointelegraph reported , MACD had previously offered mixed signals, with daily performance giving traders pause for thought. Bitcoin bulls narrowly miss key weekly target Despite hitting its highest levels in three-and-a-half months after the weekly close, Bitcoin failed to flip a key support line that would secure a fresh breakout. The weekly candle closed at around $104,100 — a stone’s throw from what analysis previously described as the ticket to price discovery. BTC/USD 1-week chart. Source: Cointelegraph/TradingView Updating X followers on the topic, popular trader and analyst Rekt Capital confirmed a rejection at $104,500. “Going forward, it'll be worth watching for Bitcoin to form Lower Lows on the price action and Higher Lows on the RSI for a Bullish Divergence to develop,” he concluded . BTC/USD 1-day chart with RSI data. Source: Rekt Capital/X Before the close, BTC/USD had given strong cues that a retest of all-time highs could be on the cards and even a venture beyond. “Bitcoin is on the cusp of beginning Price Discovery Uptrend 2,” Rekt Capital stated at the time. BTC/USD 1-week chart. Source: Rekt Capital/X Price thus returned to a trading range only recently reclaimed during a week in which bulls enjoyed gains of 9.9%. As Cointelegraph reported , BTC price targets already included $150,000 and higher during June. CPI week dawns with uncertainty “everywhere” Another crunch macroeconomic data week for risk-asset traders makes for a potentially volatile environment for Bitcoin and altcoins. Two key inflation markers, the Consumer Price Index (CPI) and Producer Price Index (PPI) print for April, are due in the coming days. At the same time, markets are on edge over US trade policy, with news of a deal with China sparking flash moves in crypto over the weekend. “We have yet to receive a statement from Trump directly on the US-China trade deal,” trading resource The Kobeissi Letter noted in part of ongoing X coverage. “This explains why markets are only up ~1.3% on this otherwise massively bullish news. Uncertainty is still everywhere.” S&P 500 E-mini futures chart. Source: Cointelegraph/TradingView Kobeissi added that retail earnings reports could also shape market performance over the coming week. Continuing, trading firm Mosaic Asset argued that trade news aside, risk assets lacked bullish impetus thanks to an ongoing hawkish policy stance from the US Federal Reserve and Chair Jerome Powell. The Fed left interest rates unchanged at its meeting last week, with markets increasingly pricing out a cut before July. “While there is some easing of tensions on the trade front, the latest interest rate setting meeting by the Federal Reserve isn’t delivering any bullish catalysts,” Mosaic Asset wrote in the latest edition of its regular newsletter, “ The Market Mosaic .” “Despite capital market volatility this year, Fed Chair Powell reiterated his message that the Fed can take a ‘wait and see’ approach to how tariffs are impacting the economy and inflation.” Fed target rate probabilities (screenshot). Source: CME Group The latest data from CME Group’s FedWatch Tool puts the chance of a rate cut in June at under 15%, while the Fed’s July meeting attracts around 50% odds. Euphoria vs. “smart distribution” The proportion of the Bitcoin supply held in profit has reached more than 98% — something barely seen before, new research says. In one of its “ Quicktake ” blog posts on May 11, onchain analytics platform CryptoQuant examined whether the Bitcoin investor base was inclined to “smart distribution” at current levels. “When BTC's supply in loss drops to between 0–2%, it typically coincides with late-stage bull runs,” contributor Kripto Mevsimi summarized. “As shown in the chart, these moments cluster near macro tops — a zone often characterized by overconfidence.” BTC supply days in loss (screenshot). Source: CryptoQuant The post added that long-term holders — those hodling for at least six months — may see the return to six figures as a suitable opportunity to reduce BTC exposure. Newcomers and speculators, on the other hand, may only now be planning an entry. “With nearly all BTC holders in profit, distribution risk increases. Long-term holders may see these conditions as a signal to derisk, especially with BTC near all-time highs,” Kripto Mevsimi continued. “Meanwhile, newer entrants could interpret this strength as confirmation to chase, creating a potential sentiment mismatch.” Last week, research nonetheless suggested that buy-side and sell-side pressure was broadly balanced , with the implication that Bitcoin could continue moving higher without a significant rush to the exit. Mainstream retail ignores $104,000 Bitcoin In an interesting development — one potentially supporting sustained BTC price upside — the market is less “greedy” at $104,000 than it was when Bitcoin traded more than 10% lower. Related: Ethereum chart pattern supports ‘moon shot’ rally to new price highs if confirmed — Trader The latest data from the Crypto Fear & Greed Index shows that while “greed” does characterize the general mood, the initial push to $94,000 on April 23 delivered higher readings. Fear & Greed measured 70/100 on May 12, while on April 23 it reached 72/100, just inches from “extreme greed” territory. Lower levels of greed in the face of higher prices could potentially signal more sustainable price growth as investors resist the urge to act erratically. Crypto Fear & Greed Index (screenshot). Source: Alternative.me Analyzing Google Trends volumes for “Bitcoin” in particular, market commentators have come to similar conclusions. Despite being close to new all-time highs, Bitcoin is still not attracting significant mainstream retail interest. Google Trends searches for Bitcoin indicate that $BTC is no longer a retail game. Which confirms my theory as to why CT isn't crazy about a 100k $BTC . Graphic: @invest_answers pic.twitter.com/R56JjQpZXa — Westy💾 (@Westy_Dev) May 11, 2025 “Google searches for ‘Bitcoin’ at close to a 5-year low. Price over 100k,” Vijay Selvam, author of “Principles of Bitcoin,” summarized on X at the weekend. “Retail hasn’t even properly checked back in since 2020.” This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
BitGo has secured a MiCA license from BaFin, enabling it to offer regulated crypto services across the European Union. Cryptocurrency custodian BitGo has received a Markets in Crypto-Assets Regulation — also known as MiCA — license from Germany ‘s Federal Financial Supervisory Authority, allowing it to offer crypto services across Europe. In a Monday blog announcement , BitGo said the license was granted to BitGo Europe GmbH, its European entity established in 2023, which is already registered in several EU countries, including Italy, Spain, Poland, and Greece. “BitGo is now well-positioned to serve both crypto-native companies and traditional financial institutions — such as banks and asset managers — looking to engage with digital assets through a secure, compliant infrastructure provider.” BitGo Commenting on the license, BitGo said the European Union is a “global hub for digital asset innovation, driven by MiCA’s clear, harmonized approach to regulation,” and stated that the new rules have helped “accelerate institutional participation while increasing trust in the market.” However, not everyone in the crypto industry shares BitGo’s view. Some still believe that MiCA could lead certain firms to shut down or merge as they seek greater scale to meet regulatory demands. MiCA officially came into effect in late 2024, aiming to replace the previously fragmented regulatory landscape with a single set of rules across all 27 EU member states. According to analysts at TRM Labs, only 17 crypto businesses had received authorization under MiCA across seven EU countries, citing data from the European Securities and Markets Authority. Read more: BitGo expands Solana staking with Marinade Native integration
GOAT rallied to as high as 71% today after it secured a listing on Binance Alpha, paving the way for a potential future listing on the main exchange. According to data from crypto.news, Solana-based memecoin Goatseus Maximus (GOAT) soared to an intraday high of $0.248, its highest level since Jan. 25, and up nearly 600% from last month’s low. The surge came alongside a massive 178% spike in trading volume, with nearly $373 million worth of GOAT traded in 24 hours. There are three main catalysts driving GOAT crypto’s gains today. First, GOAT was recently added to the Binance Alpha platform , a spotlight section within crypto exchange Binance designed to highlight early-stage or trending crypto projects to users. While a listing on Binance Alpha does not automatically mean Binance will list the token, projects featured on Alpha often gain significant exposure, and if they demonstrate strong community interest, trading volume, and sustainability, they stand a higher chance of being fully listed on Binance in the future. You might also like: Bitcoin surges past $105k on the heels of a U.S. and China trade deal Second, GOAT’s rally comes amid a broader rally among Solana-based memecoins with the sector gaining 10.5% over the past day as other major players like dogwifhat ( WIF ), Peanut the Squirrel ( PNUT ), cat in a dogs world ( MEW ), and Moo Deng ( MOODENG ) are experiencing gains ranging between 25-100% respectively. Lastly, activity in the derivatives market has picked up sharply over the past day. Data from CoinGlass shows open interest in GOAT futures was up 61% in the past 24 hours when writing, sitting at a four-month high of $161.7 million. Meanwhile, the long/short ratio on Binance was far above 1 as of last check, which is a sign that more traders were betting that GOAT will continue climbing in the short term. Together, the data points to a growing wave of speculative optimism, with traders seemingly positioning for a breakout if GOAT secures a full Binance listing. GOAT price analysis Looking at GOAT’s price action, the technical charts are also flashing bullish signals. On the daily USDT chart, the 20-day exponential moving average just crossed above the 50-day moving average, forming a bullish “golden cross.” GOAT price, 50-day and 200-day EMA chart — May 12 | Source: crypto.news The Supertrend indicator has also flipped green, suggesting the trend remains upward. GOAT Supertrend and MFI chart — May 12 | Source: crypto.news On top of that, the Money Flow Index hit 91, pointing to strong buying pressure and fresh funds pouring into GOAT, suggesting bulls remain firmly in control despite the overbought reading. Given this bullish setup, the next target for GOAT is likely around the $0.39 to $0.41 area, a crucial support-resistance zone. If GOAT breaks through this zone, it could rally toward its yearly high of $0.59, which represents around 150% upside from its current level. As of the latest update, GOAT has slightly pulled back from its daily peak, trading around $0.22 per coin. Read more: Uniswap becomes first DEX to hit $3T in total trading volume Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
In a recent update from COINOTAG, seasoned analyst PlanB has drawn attention to Bitcoin’s **Relative Strength Index (RSI)**, currently at 69. He projects that this metric could breach the critical
With a new VARA license, HashKey Global MENA now wants to serve UAE clients with crypto trading, OTC services, and AED/USD onramps via Standard Chartered. HashKey Group has received a crypto license from Dubai’s local regulator Virtual Assets Regulatory Authority, allowing it to officially launch operations in the UAE through its entity HashKey MENA FZE, the company revealed in a Monday press release . The license authorizes HashKey Global MENA to offer both crypto exchange and broker-dealer services within and from the Emirate of Dubai, the press release reads. The company now plans to offer such services as fiat on- and off-ramps in USD and AED in a collaboration with Standard Chartered . “Our regional expansion ambitions, with a strategic focus on the GCC, are rooted in empowering MENA’s institutions and HNWIs with seamless, cost-efficient access to global crypto markets, reinforcing the UAE’s position as a hub for blockchain innovation while prioritizing compliance and client protection at every step.” HashKey Global MENA’s country manager Sherif Sanad On top of that, HashKey’s OTC trading desk will provide block trades for institutions and high-net-worth clients, supporting cryptocurrencies like Bitcoin ( BTC ), Ethereum ( ETH ), and stablecoins such as Tether ( USDT ) and USD Coin ( USDC ). You might also like: HashKey Capital launches Asia’s first XRP Tracker Fund HashKey’s expansion into the UAE follows reports that Beijing-based Gaorong Ventures invested $30 million in the company, pushing its valuation to nearly $1.5 billion. Gaorong, known for backing major Chinese tech firms like Meituan and PDD Holdings, reportedly made the investment at a pre-money valuation of over $1 billion. A HashKey spokesperson later confirmed that the deal brings the company’s post-money valuation close to $1.5 billion, consistent with the level it reached after a $100 million raise in 2024. Read more: Hong Kong’s HashKey dives into AI with new product and hints at AI agents
Moo Deng crypto has skyrocketed by more than 114% following its recent listing on Binance Alpha. The meme coin has been on an ongoing rally since mid-May with a spike in futures open interest. According to data on crypto.news, the Solana ( SOL )-based token featuring the viral Thai pygmy hippo Moo Deng ( MOODENG ) has soared as high as $0.28 in the past 24 hours. At press time, the token has gone up by 114.3% in the past day. The meme coin is currently trading hands at a price of $0.267. However, it is still around 60% shy of its previous all-time high In the past few days, the token has skyrocketed to new heights previously seen earlier in January. So far, Moo Deng crypto has jumped over 576% in the past week and nearly 970% in the past month. Price chart for Moo Deng crypto shows a significant surge after its Binance Alpha listing, May 12, 2025 | Source: CoinGecko Read more: MOODENG rallies over 130% as open interest soars and exchange balances drop Moo Deng has also seen a massive surge in trader activity following its recent rally. Compared to the previous trading day, Moo Deng’s trading volume has increased by 416.3%. This indicates a renewed interest in the token among traders. In addition, the ongoing surge also coincides with a nearly 120% spike in the token futures open interest, hitting $276 million, according to data from CoinGlass. Just three days ago, Moo Deng crypto’s open interest was still around $125 million, following a meteoric 440% surge from only $13.4 million. Now, its open interest has more than doubled that amount. This price surge in Moo Deng crypto could be due to the token’s recent listing on Binance Alpha. On May 11, the crypto exchange’s pre-listing token selection pool announced that it would be listing MOO DENG alongside the AI -inspired meme coin GOAT ( GOAT ). Similar to Moo Deng’s surge, GOAT also experienced a significant boost; rising as high as 70% shortly after the notice was posted. Moo Deng crypto’s origins Launched in September 2024, MOODENG is a Solana-based meme coin inspired by a viral pygmy hippopotamus calf from Khao Kheow Open Zoo in Thailand. The hippo, nicknamed Moo Deng, went viral on social media, particularly TikTok, for its charm and adorable expressions. Last April, local media outlets reported that Suvarnabhumi Airport workers began giving away plush dolls of the iconic hippo Moo Deng to visitors for free in honor of the nation’s Songkran festivities. Songkran is a local festival that celebrates the traditional Thai New Year, held in April and marked by the throwing and sprinkling of water. Read more: Moo Deng falls more than 22% after market debut with ‘meteoric rise’ Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Bitcoin is changing in a big way, and it’s not just the price. According to analyst Ki Young Ju, Bitcoin has now become deflationary, thanks to an ...
Bitcoin’s price has surged some 25% since April 2, even as the big stock indexes declined. The digital currency broke through $104,000 by May 12. Traditional markets such as the S&P 500 were in the red simultaneously. Based on market data, Bitcoin’s resilience has stood out in the face of sell-offs and tariff negotiations. Related Reading: Bitcoin’s Grip Loosens: Market Expert Says Dominance Has Hit Its Ceiling Bitcoin Outpaces Stocks According to reports, the S&P 500 declined almost 1% during April, but Bitcoin rose. Other financial markets experienced losses during the same weeks. Bitcoin’s increase was made while traders considered concerns over escalating tariffs. The world’s most sought-after crypto asset was seen by some as a means to avoid fees on foreign trade. However, there is no evidence that any country utilized crypto to avoid tariffs. Settlements Via Bitcoin Based on examination by crypto expert Daan Crypto Trades, there was speculation that countries could bring trade settlements to Bitcoin. The concept gained traction since BTC stood firm even when supply chains and markets were in trouble. $BTC Has outperformed stocks since “Liberation” / Tariff Day on the 2nd of April. It held up incredibly strong during a sharp sell off on stocks in April. It then also proceeded to outperform as the markets bounced and tariffs were implemented. Back then people were wondering… pic.twitter.com/gfvfH80TVP — Daan Crypto Trades (@DaanCrypto) May 11, 2025 Nevertheless, experts note that big on-chain transactions are out there in the open. Regulators would catch any large cross-border payments made in crypto. There has not been a reported case of governments turning to Bitcoin in order to sidestep duties. Testing Key Resistance Levels According to chart analysis by Rose Premium Signals, Bitcoin is currently testing a crucial barrier at $105,000. If BTC breaks down there, it might retreat into the $100,000 zone. Some pattern observers claim an Inverse Head & Shoulders configuration could develop. 💰 $BTC Market Update#Bitcoin is currently testing the Weekly Supply Zone around $105,000 👀 🧠 The most likely scenario is a rejection from this level, leading to the formation of an Inverse Head & Shoulders pattern — a setup that could create space for a mini #altseason 📈… pic.twitter.com/aLSPi5qhuq — Rose Premium Signals 🌹 (@VipRoseTr) May 11, 2025 That pattern requires two distinct shoulders and a lower trough in the middle. Currently, the swings have been unbalanced, muddying the image. A rejection might be followed by a brief period of altcoin accumulation before Bitcoin takes off again where it left off. Related Reading: New XRP Rally Incoming? Analyst Believes This Cycle Is Unique Long-Term Outlook Stable As per market observers, most investors will be looking to purchase dips if Bitcoin breaks resistance. They add that higher prices will put the limelight on pullbacks. Dips provided entry points during previous rallies. But Bitcoin’s extensive runs persist for several months, not days. Risks are still seen by traders: potential rate increases, regulations on crypto, and fresh tokens competing for attention. Meanwhile, increasing ETF flows and fortified wallets reassure others. Based on accounts of US–China trade negotiations, any agreement would reduce some tension. But there are drivers of Bitcoin’s price that are independent of global tariffs. Monetary actions, large investors, and sentiment drive big moves. If BTC continues to outrun stocks, it might solidify itself as an alternative in global markets. In the meantime, traders are waiting for the next direction at those important levels near $105,000. Featured image from Unsplash, chart from TradingView
In a move that sent ripples through the tech and legal worlds, former President Donald Trump reportedly fired Shira Perlmutter, the head of the U.S. Copyright Office, along with Librarian of Congress Carla Hayden. This unexpected decision comes amidst growing debate surrounding the use of copyrighted material to train Artificial Intelligence ( AI ) models, a topic central to a recent report from the very office Perlmutter led. What Prompted the Copyright Office Firings? Reports from outlets like CBS News and Politico, seemingly corroborated by Democratic Representative Joe Morelle, suggest the firings were swift and lacked clear legal basis. Morelle, the ranking member on the Committee for House Administration, didn’t mince words, calling it a “brazen, unprecedented power grab.” He also suggested the timing was no coincidence, linking the termination directly to Perlmutter’s alleged refusal to “rubber-stamp Elon Musk ’s efforts to mine troves of copyrighted works” for AI training. Perlmutter, who took the helm in 2020 during Trump’s first term, was appointed by Librarian of Congress Carla Hayden, who was also reportedly fired this week. Trump himself alluded to the news on Truth Social, his social network, by sharing a post from attorney Mike Davis. While Davis’s post linked to the CBS story, his accompanying text, “Now tech bros are going to attempt to steal creators’ copyrights for AI profits,” added a layer of confusion, seemingly criticizing the outcome despite the apparent alliance between Trump and Musk. The Copyright Office Report and AI Training Central to the controversy is a recent report from the U.S. Copyright Office focusing on Copyright and Artificial Intelligence. This document, part three of a larger series, addresses the complex legal questions raised by AI ‘s reliance on vast datasets, often containing copyrighted works. While the report acknowledges that the outcome of individual legal cases cannot be predetermined, it sets important boundaries regarding when AI companies can rely on “ fair use ” as a defense when training their models on copyrighted content. Here’s a breakdown of key points from the report: Research and Analysis: The report suggests that using copyrighted material for research and analysis purposes in AI training would likely fall within the bounds of fair use . Commercial Use & Competition: However, the report states that using “vast troves of copyrighted works” for commercial purposes, especially when the resulting AI -generated content competes with the original works in existing markets, likely “goes beyond established fair use boundaries.” This is particularly true if access to the copyrighted material was obtained illegally. Despite these points, the Copyright Office report stopped short of recommending immediate government intervention or new legislation, stating it “would be premature at this time.” Instead, it expressed hope that “licensing markets” would continue to develop, allowing AI companies to pay copyright holders for access to training data. It also suggested considering “alternative approaches such as extended collective licensing” to address potential market failures. Elon Musk, AI, and Copyright: What’s the Connection? The report’s stance on fair use and licensing directly impacts AI companies, many of which currently face lawsuits accusing them of copyright infringement. OpenAI, a leading AI research company, is one such entity. Interestingly, Elon Musk is a co-founder of OpenAI (though he later left) and now leads a competing AI startup, xAI (which is merging with X, formerly Twitter). Musk has also publicly aligned himself with controversial views on intellectual property, recently supporting Square founder Jack Dorsey’s call to “delete all IP law.” This position starkly contrasts with the concerns of creators and copyright holders who rely on IP law to protect their work and livelihoods. The alleged link between Perlmutter’s firing, the Copyright Office report, and Elon Musk highlights the intense political and economic pressures surrounding the future of AI development and intellectual property rights. The firings, particularly given the timing just after the report’s release, raise significant questions about the independence of government agencies and the influence of powerful tech figures. What Does This Mean for the Future of AI and Copyright? The situation underscores the deep divide between those who believe AI development requires broad access to data, potentially with relaxed copyright restrictions, and those who advocate for strong protections for creators and their content. The U.S. Copyright Office report attempted to navigate this complex landscape by outlining existing legal interpretations like fair use while encouraging market-based solutions like licensing. However, the reported intervention from the highest levels of government, allegedly influenced by figures like Elon Musk , suggests that the debate is far from settled. The firings could signal an attempt to steer copyright policy in a direction more favorable to large-scale AI training, potentially at the expense of individual creators and traditional copyright principles. This event serves as a stark reminder that the legal and regulatory frameworks governing AI are still under construction and are subject to significant political influence. The outcome of this struggle will have profound implications for the creative industries, the tech sector, and the development of AI itself. To learn more about the latest AI regulation trends, explore our article on key developments shaping AI policy features.