Key Highlights
- Ethereum Pectra Upgrade: Scheduled for May 7, impacting exchanges like Coinbase, which will temporarily pause ETH transactions.
- Bitcoin Adoption: Bernstein forecasts corporate Bitcoin purchases could reach $330 billion by 2029, with MicroStrategy leading the trend.
- Market Movements: ASR and ALPINE tokens surged 53.34% and 62.23%, respectively, following Binance’s new perpetual contracts.
- Regulatory Advances: The U.S. House Committee releases a draft 2025 Digital Asset Market Structure Act to clarify crypto regulations.
Regulatory and Macro Trends
U.S. Treasury Warns Against Unsustainable Tariffs
U.S. Treasury Secretary Yellen noted that the 145% tariffs on Chinese imports are unsustainable long-term, signaling potential trade negotiation progress.
Florida Withdraws Bitcoin Reserve Bill
Florida’s proposed legislation to allocate 10% of state funds to Bitcoin was withdrawn, joining other failed state-level crypto initiatives.
👉 Explore Bitcoin’s institutional adoption trends
Bernstein’s $330 Billion Bitcoin Prediction
Analysts project corporations will accumulate $330 billion in BTC by 2029, driven by favorable U.S. regulations. MicroStrategy may account for ~$124 billion of this demand.
Market Perspectives
Bitcoin Price Resistance at $99,900
Glassnode identifies $99,900 as a critical sell zone, where long-term holders historically realize 350% profits. A breakout could propel BTC toward $100K+.
CZ’s $1M Bitcoin Forecast
Former Binance CEO CZ predicts BTC could hit $500K–$1M this cycle, emphasizing blockchain’s synergy with AI and scientific research over meme coins.
QCP Capital on Macro Signals
Taiwan’s currency surge (+8%) may foreshadow broader capital shifts, potentially influencing Bitcoin’s correlation with gold.
Project Updates
MYX Finance Airdrop Goes Live
MYX distributes 14.7% of its token supply, with 6.7% allocated in Phase 1. BNB Chain ensures low-fee claims.
Treasure Chain Shutdown
Users must migrate ETH, MAGIC, and NFTs from Treasure Chain before its May 30 closure.
DWF Labs Transparency Move
The firm publicized wallet addresses used for secondary market token purchases across EVM, Solana, and Tron.
Critical Data
BlackRock’s IBIT Adds 41,452 BTC ($39.2B)
The ETF’s holdings now exceed 614,639 BTC ($580.7B), signaling strong institutional demand.
KuCoin’s 77% Bitcoin Outflow
Post-KYC rumors, KuCoin’s BTC reserves plummeted from 18,300 to 4,100, reflecting user sensitivity to compliance changes.
Tether Mints $1B USDT for Inventory
Tron-based USDT issuance aims to prep inventory for future demand, not immediate circulation.
FAQs
1. What is the Ethereum Pectra upgrade?
A network enhancement requiring temporary transaction halts on exchanges like Coinbase for security checks.
2. Why is $99,900 a key Bitcoin price level?
Long-term holders often sell near this point to lock in 350% profits, creating resistance.
3. How does MYX Finance’s airdrop work?
Phase 1 distributes 6.7% of tokens (30% upfront, 70% linearly over 5 months).
4. What caused ASR and ALPINE’s price spikes?
Binance’s new perpetual contracts triggered short-term demand surges.
5. How much BTC do corporations hold?
Public companies own ~720K BTC (2.4% of supply), per Bernstein.
6. What’s next for U.S. crypto regulation?
The 2025 Digital Asset Market Structure Act draft proposes clearer rules for SEC/CFTC oversight.