News & Research

The launch of more than 24 ETFs linked to prediction markets in the U.S. has been put on hold after the Securities and Exchange Commission (SEC) requested additional information, Reuters reported. Three asset management firms—Roundhill Investments, GraniteShares, and Bitwise—applied to launch the ETFs in February, with a 75-day automatic approval deadline that was set to expire this week. These funds are designed to hold derivatives tied to the outcomes of real-world events, such as midterm and presidential elections, economic recessions, and tech industry restructuring. Potential investment risks include insider trading and the possibility of catastrophic losses. However, sources familiar with the matter reportedly believe the delay is likely to be temporary.

Capital B, a publicly traded European firm strategically accumulating Bitcoin, announced it has secured a €1.1 million ($1.28 million) investment from Blockstream CEO Adam Back. The company also lowered the conversion price of bonds held by Back by approximately 50%, from €5.174 to €2.59 per share. Upon conversion, Back will be granted additional share purchase rights with a two-year maturity. Existing share price conditions have been removed, allowing him to convert the bonds into stock at his discretion.

Bitcoin (BTC) may not fall below $60,000 again, U.Today reported. The analysis is based on Bitcoin's 200-week moving average (200WMA) officially surpassing the $60,000 mark. Historically, this indicator has acted as a key support for the price floor, except in extreme bear markets, suggesting a structural rise in the baseline. Separately, anonymous crypto trader DonAlt, who has approximately 710,000 followers on X, suggested that a breakout above $87,000 for BTC would trigger a strong bullish reversal across the broader market.

Veteran trader Peter Brandt predicted that Bitcoin (BTC) could reach approximately $250,000 by 2029, CoinDesk reported. He suggested the market bottom is likely to form in September or October of this year. Brandt noted that while BTC does not necessarily have to retest its recent lows, a period of sideways trading or a further decline could follow any rebound. In a worst-case scenario, he said a return to the $40,000-$50,000 range is possible. However, Brandt added that he would revise his forecast if the price action deviates from previous halving cycles.

Dogecoin (DOGE) has recovered its upward momentum after a prolonged period of sideways movement, CoinDesk reported. According to the outlet, DOGE rose from $0.1075 to $0.1119, establishing a pattern of higher lows and breaking through the key resistance level of $0.109. The increase was characterized by a surge in trading volume over a short period rather than a gradual trend. The price is currently holding around $0.111, and whether this level can be maintained as support is considered crucial.

According to Onchain Lens, a Hyperliquid whale (pension-usdt.eth, starting with 0x0ddf) is facing over $16 million in unrealized losses on 3x short positions in BTC and ETH amid rising market prices. The whale, who had previously drawn market attention for a win rate exceeding 80% on Hyperliquid, reportedly opened a total of $110 million in 3x BTC and ETH short positions early last month.

CoinMarketCap's Altcoin Season Index currently stands at 43. The index compares the price performance of the top 100 cryptocurrencies, excluding stablecoins and wrapped tokens, against that of Bitcoin over the last 90 days. The market is considered to be in an altcoin season if 75% of these top 100 coins outperform Bitcoin over that period. If the opposite is true, it is deemed a Bitcoin season. A score closer to 100 indicates a stronger trend toward an altcoin season.

Ebrahim Azizi, chairman of the Iranian parliament's National Security and Foreign Policy Committee, stated that any U.S. intervention aimed at imposing a new maritime order in the Strait of Hormuz will be considered a violation of the ceasefire agreement. He asserted that the Strait of Hormuz and the Persian Gulf will not be dictated by what he described as President Trump's absurd remarks, emphasizing that "no one will believe this blame-shifting tactic."

New York prosecutors have reached a $5 million settlement with cryptocurrency platform Uphold in the state's first enforcement action related to the promotion of crypto interest-bearing products, The Block reported. New York Attorney General Letitia James stated that Uphold promoted a third-party interest product, "CredEarn," as a safe, deposit-like instrument without adequately disclosing its underlying revenue structure. The product's operator, Cred, went bankrupt in 2020, leading to significant investor losses. Under the agreement, Uphold will pay the $5 million fine and must enhance its due diligence procedures for any future third-party offerings. Funds recovered from Cred's bankruptcy proceedings are also slated to be returned to investors. The case affected over 6,000 users who invested a total of $50 million in CredEarn through Uphold, ultimately losing more than $34 million.

U.S. President Donald Trump announced on May 4 that the United States will help guide ships out of the Strait of Hormuz after receiving requests from multiple countries to free their blockaded vessels. Stressing that the ships are neutral parties unrelated to the conflict in the Middle East, Trump said the operation, dubbed 'Project Freedom,' is set to begin on the morning of May 4, Middle East time. He noted that a U.S. delegation is engaged in very positive discussions with Iran that could lead to a beneficial outcome for all parties. Trump described the move as a humanitarian measure for the U.S., the Middle East, and particularly Iran, as many of the ships are running out of food and essential supplies, making it difficult to maintain the health and hygiene of their large crews. However, he warned that any interference with the humanitarian process would be met with a strong response.