Crypto News
Trump’s crypto dealings face scrutiny as House Republicans unveil digital asset bill
US President Donald Trump’s crypto businesses are drawing increased scrutiny on Capitol Hill and beginning to influence the progress of US digital asset legislation. As Republican lawmakers in the US House of Representatives unveiled their draft of a digital asset market structure bill on May 5, Democrats prepared for a united response to Donald Trump’s deepening connections with the industry.Speaking to Cointelegraph on May 5, a Democratic staffer with knowledge of the matter said that House Financial Services Committee Ranking Member Maxine Waters planned to lead some members of her party out of a Republican-led hearing discussing digital assets. The May 6 hearing, entitled “American Innovation and the Future of Digital Assets” and led by Committee Chair French Hill, could address draft legislation proposed by Republican lawmakers to establish a crypto market regulatory structure.In a May 5 statement, Rep. Hill and three top Republicans unveiled the draft bill, which could clarify the treatment of digital assets by the US’s financial regulators: the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Hill and others echoed some of Trump’s talking points on crypto — e.g, making the US a “crypto capital of the world” — suggesting deference to the president’s previously announced policies.The draft bill included a provision requiring the SEC and CFTC to issue joint rules defining digital commodities. According to the text, transactions involving digital commodities “shall be deemed not to be an offer or sale of an investment contract” as long as the purchaser did not have “an ownership interest or other interest in the revenues, profits, or assets.”According to the Democratic staffer, rules required all members of the House Financial Services Committee to agree to move forward with the digital asset hearing, suggesting that Waters intended to block the Republican-controlled event and conduct a shadow hearing to explore Trump’s and his family’s ties to the crypto industry. At least nine Democrats have reportedly considered a similar move to oppose a proposed stablecoin bill in the Senate.Calls for impeachment, criticism from both sidesSome members of Congress have already called for Trump’s impeachment after he offered the opportunity for some of his top memecoin holders to tour the White House and attend a private dinner. In addition to the memecoin, the president’s family has backed the firm World Liberty Financial, which recently launched its own stablecoin, and an Abu Dhabi-based investment firm used the USD1 stablecoin to settle a $2 billion investment in Binance.Related: US Senator calls for Trump impeachment, cites memecoin dinnerWaters, according to the staffer, requested that Hill and Republicans amend any proposed legislation to explicitly prevent potential conflicts of interest in which Trump could personally enrich himself through crypto ventures. Cointelegraph reached out to Hill’s office but did not receive a response at the time of publication. The Arkansas lawmaker reportedly said in March that the Trump family’s involvement in the crypto industry makes related legislation “more complicated.”Republican lawmakers in the United States currently have control of the House, Senate, and presidency. At least two senators supportive of Trump have criticized his memecoin dinner, hinting that the president was selling access to his office. It’s unclear at the time of publication who among the memecoin holders could attend the May 22 dinner in person.Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questionsThis is a developing story, and further information will be added as it becomes available.
Published Date: 2025-05-05 20:53:56Creator: Cointelegraph by Turner Wright
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Bitcoin sell-off to $93.5K is a brief hiccup — Data still supports new BTC highs in 2025
Key takeaways:Bitcoin price slips, but BTC dominance is on the rise.Sizable purchases by Strategy and the spot BTC ETFs highlight institutional investors’ appetite for Bitcoin.Bitcoin’s (BTC) price has dropped by 4.3% in the last three days after nearly reaching $97,900 on May 2. Despite showing resilience at the $94,000 level on May 5, some traders are disappointed that strong institutional inflows have not been enough to maintain bullish momentum. However, several encouraging signs suggest that a new all-time high for Bitcoin in 2025 remains within reach.Bitcoin market share excluding stablecoins. Source: TradingView / CointelegraphBitcoin’s dominance over the broader cryptocurrency market has surged, currently standing at 70%, its highest since January 2021. This has occurred despite a wave of new token launches, including several top-50 projects such as SUI, Toncoin (TON), PI, Official Trump (TRUMP), Bittensor (TAO), Ethena (ENA), and Celestia (TIA). This dominance makes riskier altcoins less appealing to new market entrants.The spot Bitcoin ETFs recorded $4.5 billion in net inflows between April 22 and May 2. At the same time, the increasing appetite for Bitcoin futures signals growing institutional adoption regardless of whether leverage is used for downside protection or bullish bets.Bitcoin futures aggregate open interest, BTC. Source: CoinGlassAccording to CoinGlass, the total open interest in Bitcoin futures markets has reached 669,090 BTC, a 21% increase since March 5. Even after Bitcoin’s price crashed below $75,000 in early April, demand for leveraged positions remained strong. The open interest in BTC futures on the Chicago Mercantile Exchange (CME) alone exceeds $13.5 billion, indicating robust institutional demand.Several factors explain why Bitcoin has struggled to reclaim the $100,000 level. Traders who bought in anticipation of the US Strategic Bitcoin Reserve bill on March 6 are growing increasingly frustrated, as the government has yet to disclose its BTC holdings or announce plans for further purchases. Additionally, similar state-level Bitcoin bills have repeatedly failed, including the latest setback in the US state of Arizona.Strategy doubles its plans for BTC acquisitions despite the global trade war Over the past three months, gold has outperformed most assets, rising 16%, while Bitcoin has declined by 5% and the S&P 500 has corrected by 6.5%. This has challenged the notion of Bitcoin as an uncorrelated asset, as the cryptocurrency has repeatedly failed to decouple from the S&P 500 amid rising economic risks. The global trade war has led investors to favor fixed-income assets and cash positions.5-year US Treasury yield (left) vs. Bitcoin/USD (right). Source: TradingView / CointelegraphBitcoin’s recent drop to $94,000 is particularly concerning given that Strategy, a US-listed company led by Michael Saylor, announced the acquisition of 1,895 BTC on May 5, after doubling its capital increase plan to fund further Bitcoin purchases. However, since investors were previously uncertain about Strategy’s ability to raise additional capital, the announcement of an $84 billion plan on May 1 has reduced some of this risk.For Bitcoin to reach a new all-time high, investors will likely need reassurance that US-China trade relations are improving, as tariffs have negatively impacted overall risk appetite. Nevertheless, the key elements for a BTC bull run above $100,000 appear to be in place.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Published Date: 2025-05-05 20:44:08Creator: Cointelegraph by Marcel Pechman
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US Treasury sanctions Myanmar militia group for alleged crypto scams
The United States Department of the Treasury has sanctioned a Myanmar militia group known as the Karen National Army (KNA), accusing it of crypto-related scams and other criminal activities. According to a May 5 press release issued by the agency, the Karen National Army has been orchestrating a variety of crypto scams, including the infamous “pig butchering” scam, which lures victims into contributing more and more to fake crypto schemes. Americans “have collectively lost billions of dollars” from scams such as those emanating from Myanmar, the release reads, without specifying an amount.“Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned the Karen National Army (KNA), a militia group in Burma, as a transnational criminal organization, along with the group’s leader Saw Chit Thu, and his two sons, Saw Htoo Eh Moo and Saw Chit Chit, for their role in facilitating cyber scams that harm U.S. citizens, human trafficking, and cross-border smuggling,” the release reads.Many international bodies, including the US, continue to refer to “Burma,” the country’s former name, to demonstrate that they don’t recognize the military regimes that have been in power at various times since a 1989 coup in which the military changed the name to Myanmar. The KNA operates in southeastern Myanmar, along the Thailand border.The Treasury’s Office of Foreign Assets Control (OFAC) has issued numerous sanctions against crypto-offenders over the past few years, including Middle East-based terrorist groups, cybercrime units operating overseas, and privacy-focused crypto technology like Tornado Cash.Related: FBI warns of North Korean ’social engineering’ schemes to steal cryptoCrypto scams target US residentsAccording to the Federal Bureau of Investigation (FBI), Americans lost $9.3 billion to crypto scams in 2024, an increase of roughly 66% from 2023. The most affected group is formed by individuals over the age of 60, who reported a cumulative loss total of $2.8 billion.Pig butchering scams are known for their significant impact on victims, both in the crypto space and beyond. The scam consists of a long-term financial fraud where scammers build trust with victims over time, often through social media or messaging platforms, before convincing them to invest in fake or manipulated crypto schemes. According to TRM Labs, a blockchain intelligence company, these scams accounted for well over $4.4 billion stolen in 2023.According to the Treasury Department’s press release, this type of scam is currently common in Southeast Asia, primarily involving trafficked individuals defrauding victims. The Karen National Army is allegedly engaged in orchestrating both pig butchering scams and human trafficking networks that enable them to operate at scale.Magazine: Influencers shilling memecoin scams face severe legal consequences
Published Date: 2025-05-05 20:26:47Creator: Cointelegraph by Christopher Tepedino
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VanEck files for BNB ETF, first in US
Asset manager VanEck has asked US regulators for permission to list an exchange-traded fund (ETF) holding BNB, the native token of Binance’s BNB Chain, regulatory filings show. The ETF is designed to accumulate spot BNB (BNB) tokens and “may, from time to time, stake a portion of the [fund’s] assets through one or more trusted staking providers,” according to the ETF’s S-1 prospectus. The filing marks the first time an asset manager has filed for a BNB ETF in the United States.The BNB token has a market capitalization of roughly $84 billion, according to data from CoinMarketCap. As of May 5, BNB stakers earn a yield of approximately 2.5%, according to data from Stakingrewards.com. Binance’s BNB Chain is among the most popular smart contract networks, with a total value locked (TVL) of nearly $6 billion, according to data from DefiLlama. BNB Chain is among the most popular blockchain networks. Source: DeFILlamaRelated: Binance co-founder CZ proposes Bitcoin, BNB for Kyrgyzstan reservesBitcoin's “spillover” effect?The filing comes days after Binance co-founder Changpeng “CZ” Zhao reportedly said he expects the popularity of Bitcoin (BTC) ETFs to eventually “spill over” into altcoins.“This cycle so far has been the ETFs. And it’s almost all Bitcoin. Ether hasn’t had as much success but Bitcoin success will spill over to the others eventually,” CZ reportedly said during the Token2049 conference in Dubai. Spot Bitcoin ETFs attracted net inflows of more than $40 billion since launching in January of 2024, according to data from Farside Investors.Cumulative inflows into spot BTC ETFs. Source: Farside InvestorsVanEck’s filing is the newest in a flurry of filings seeking to list ETFs holding altcoins. The US Securities and Exchange Commission (SEC) has acknowledged dozens of cryptocurrency ETF proposals since US President Donald Trump took office on Jan. 20. They include plans for ETFs holding native layer-1 tokens such as Solana (SOL) as well as memecoins such as Dogecoin (DOGE).VanEck has filed to list other cryptocurrency ETFs over the past few months, including funds holding Solana and Avalanche (AVAX).Magazine: ZK-proofs are bringing smart contracts to Bitcoin — BitcoinOS and Starknet
Published Date: 2025-05-05 19:00:45Creator: Cointelegraph by Alex O’Donnell
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What do crypto users want to happen to Alex Mashinsky?
Crypto users are weighing in as Alex Mashinsky, the former CEO of Celsius Network, prepares to stand before a judge on May 8 to face sentencing for commodities fraud and a fraudulent scheme to manipulate the price of the platform’s token.In a May 2 filing in the US District Court for the Southern District of New York (SDNY), prosecutors released several impact statements from individuals affected by the collapse of Celsius filed after the initial deadline. Though at least one suggested clemency for the former CEO, many told the court about the financial and personal losses caused by the crypto firm filing for bankruptcy, and hinted that Mashinsky should be held accountable for misrepresenting the company.“Many of the people who participated in this fraud, benefited from this fraud, and potentially orchestrated this fraud will get away with zero legal consequences,” said Daniel Frishberg of Hillsborough County, Florida, in an April 24 statement. “Please do not allow Mr. Mashinsky to be one of those people (such as with probation/house arrest, as some people supporting him have requested). Please throw the book at him.”A victim impact statement from a Celsius user filed with the SDNY on May 2. Source: PACERProsecutors have requested that Mashinsky serve up to 20 years in prison for his role in Celsius’ fraud, while the former CEO’s legal team asked for a year and one day. The judge will consider guidelines and victim statements at sentencing on May 8.Calls for leniency and harsh prison timeNot everyone who sent in a letter to the prosecutors seemed to be in favor of Mashinsky being sent away for decades, as was former FTX CEO Sam “SBF” Bankman-Fried. SBF stood before a different federal judge in the same district in March 2024 and was handed a 25-year sentence, which he is currently serving in a California prison. “While Celsius [sic] collapse caused significant losses, particularly for Bitcoin holders, shareholders, and borrowers, despite his mistakes, Mr. Mashinsky was, at times, the more conservative voice in an industry overflowing with unchecked greed,” said Artur Abreu in a victim impact statement.“The twenty-year sentence suggested by the US DOJ is fair in my opinion, as Mashinsky caused pain and suffering for many crypto investors across the globe – even resulting in suicide for some of those involved,” said Web3 Deep Dive podcast host and former Cointelegraph reporter Rachel Wolfson, who lost access to Bitcoin worth about $5,000 at the time. “Harsh punishment for bad actors in the crypto industry has become necessary to ensure that the space legitimizes over time.”Mashinsky’s sentencing will be one of the first in significant crypto cases in the district since Jay Clayton became interim US Attorney for SDNY. A Trump appointee, Clayton was previously the chair of the US Securities and Exchange Commission and a crypto proponent on many issues. Critics have suggested that Clayton would take a softer approach to crypto enforcement, given his ties to Wall Street firms and the industry. However, he also released a statement in April regarding a $12-million crypto case, suggesting that he supported accountability for fraudulent actions. His response to Mashinsky’s sentencing and other future cases could be a bellwether for the US Attorney’s approach to crypto.Related: US prosecutors file over 200 victim statements in Celsius ex-CEO’s case
Published Date: 2025-05-05 18:35:23Creator: Cointelegraph by Turner Wright
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Price predictions 5/5: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI
Key points:Bitcoin is witnessing a tough battle between the bulls and the bears at the $95,000 level.Solid buying by spot Bitcoin ETF investors last week signals a positive shift in investor sentiment. Select altcoins have held their support levels, increasing the likelihood of a short-term up move.Bitcoin (BTC) slipped below the breakout level of $95,000 on May 4, indicating profit booking at higher levels. The bulls tried to push the price back above $95,000 on May 5 but are facing stiff resistance from the bears. Glassnode senior researcher CryptoVizArt said in a post on X that Bitcoin maintaining above $93,000 was very surprising and also risky as the rally to the $93,000 to $96,000 range “pushed the profit-taking volume above the statistical levels.” CryptoVizArt added that there were more than $9 in realized profits for every dollar realized in loss.Crypto market data daily view. Source: Coin360However, a positive sign in favor of bulls is that the US-based Bitcoin exchange-traded funds witnessed inflows of $1.8 billion last week, per Farside Investors data. The ETF issuers and the institutions acquired 18,644 Bitcoin last week compared to the 3,150 Bitcoin mined during the period, reported asset allocator HODL15Capital on May 4.What are the crucial support and resistance levels to watch out for in Bitcoin and altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.S&P 500 Index price predictionThe S&P 500 Index (SPX) extended its recovery last week and rose above the 50-day simple moving average (5,575).SPX daily chart. Source: Cointelegraph/TradingViewThe 20-day exponential moving average (5,501) has started to turn up, and the relative strength index (RSI) is in the positive territory, indicating advantage to buyers. The up move could reach 5,800, which is expected to attract strong selling by the bears. If the price turns down from 5,800, it is likely to find support at the 20-day EMA. Sellers will have to yank the price below the 20-day EMA to suggest that the bullish momentum is weakening. The index may drop to 5,400 and subsequently to 5,300.US Dollar Index price predictionThe US Dollar Index (DXY) bounced off the 99 support on April 29 and reached the 20-day EMA (100.38) on May 1.DXY daily chart. Source: Cointelegraph/TradingViewBuyers are facing stiff resistance at the 20-day EMA, but a minor positive is that they have not ceded much ground to the bears. That improves the prospects of a break above the 20-day EMA. If that happens, the index could rise to the 61.8% Fibonacci retracement level of 101.39 and then to the 50-day SMA (102.72).This positive view will be invalidated if the price continues lower and breaks below the 99 level. That could sink the index to the critical support at 97.92.Bitcoin price predictionBitcoin closed below the $95,000 support on May 4, and the bears are trying to extend the pullback to the 20-day EMA ($92,204).BTC/USDT daily chart. Source: Cointelegraph/TradingViewBuyers will have to fiercely defend the 20-day EMA to keep the bullish momentum intact. If the price bounces off the 20-day EMA with strength, the bulls will again try to propel the BTC/USDT pair to the psychological level of $100,000. Contrary to this assumption, a break and close below the 20-day EMA signals the bulls are rushing to the exit. That may sink the pair to the 50-day SMA ($86,890). A deeper pullback suggests a range formation in the near term.Ether price predictionBuyers have managed to sustain Ether (ETH) above the moving averages, signaling strength.ETH/USDT daily chart. Source: Cointelegraph/TradingViewThe 20-day EMA ($1,771) is sloping up gradually, and the RSI is in the positive territory, indicating that the path of least resistance is to the upside. There is minor resistance at $1,957, but it is likely to be crossed. The ETH/USDT pair could surge to the breakdown level of $2,111, where the bears are expected to sell aggressively.A break and close below the moving averages opens the gates for a fall to $1,537 and later to the critical support at $1,368.XRP price predictionXRP (XRP) remains stuck between the resistance line and the $2 support, indicating buying on dips and selling on rallies.XRP/USDT daily chart. Source: Cointelegraph/TradingViewBoth moving averages have flattened out, and the RSI is just below the midpoint, indicating a balance between supply and demand. This equilibrium will tilt in favor of the bulls if they drive the price above the resistance line. The XRP/USDT pair could soar to $3, suggesting a short-term trend change.On the contrary, a break and close below $2 will put the sellers in charge. The pair may then retest the vital support at $1.61, where the buyers are expected to step in.BNB price predictionBNB (BNB) slipped below the moving averages on May 4, but the bears are struggling to sustain the lower levels.BNB/USDT daily chart. Source: Cointelegraph/TradingViewIf buyers push the price above the moving averages, it suggests buying at lower levels. The bulls will then attempt to overcome the barrier at $620. If they succeed, the BNB/USDT pair could shoot up to $644.Alternatively, if the price turns down from the moving averages, it suggests that the bears are trying to take control. There is support in the $576 to $566 zone, but if it breaks down, the pair could dive to $520.Solana price predictionSolana (SOL) is finding support at the 20-day EMA ($143), indicating that the bulls remain buyers on dips.SOL/USDT daily chart. Source: Cointelegraph/TradingViewThe bulls will again attempt to thrust the price above the $153 resistance. If they manage to do that, the SOL/USDT pair could ascend to $180. Such a move brings the large $110 to $260 range into play.If bears want to prevent the upside, they will have to swiftly pull the price below the 20-day EMA. If they do that, the pair could descend to the 50-day SMA ($133). That suggests the pair may consolidate between $110 and $153 for a while.Related: XRP price risks 45% decline to $1.20 — Here is whyDogecoin price predictionBuyers have managed to keep Dogecoin (DOGE) above the moving averages but failed to start a strong rebound.DOGE/USDT daily chart. Source: Cointelegraph/TradingViewThe flattish moving averages and the RSI near the midpoint suggest the DOGE/USDT pair may extend its stay inside the $0.21 to $0.14 range for some time.If the price turns up from the moving averages, the bulls will try to push the pair to $0.21. Sellers are expected to defend the level aggressively, but if the bulls prevail, the pair could skyrocket to $0.28. Contrarily, a break below the moving averages could sink the pair to the solid support at $0.14.Cardano price predictionCardano (ADA) is witnessing a tough battle between the bulls and the bears near the moving averages.ADA/USDT daily chart. Source: Cointelegraph/TradingViewThe flattish moving averages and the RSI just below the midpoint do not give a clear advantage either to the bulls or the bears. The first sign of strength will be a break and close above $0.75. That opens the doors for a rally to $0.83.On the downside, a close below the moving averages tilts the advantage in favor of the bears. There is solid support at $0.58, but if the level gives way, the ADA/USDT pair could plunge to $0.50.Sui price predictionSui (SUI) is attempting to bounce off the 20-day EMA ($3.09), indicating demand at lower levels.SUI/USDT daily chart. Source: Cointelegraph/TradingViewThe bulls will try to push the price to $3.90, which is expected to act as a stiff resistance. However, the upsloping 20-day EMA and the RSI in the positive territory suggest that buyers have an edge. A break and close above $3.90 could catapult the SUI/USDT pair to $4.25 and later to $5.Instead, if the price turns down from the current level or the overhead resistance and breaks below the 20-day EMA, it signals that the bulls have given up. That may pull the price to $2.86 and then to the 50-day SMA ($2.57).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.
Published Date: 2025-05-05 18:16:25Creator: Cointelegraph by Rakesh Upadhyay
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Bitcoin investors’ expectations evolve as 88% of BTC supply is in profit
Key Takeaways:88% of Bitcoin’s supply is in profit below $95,000, indicating a reset in investor expectations. The current price range of $75,000–$95,000 may represent a structural bottom, aligning with market conditions from Q3 2024.The Market Value to Realized Value (MVRV) Ratio at 1.74 acts as a historical support zone, signaling cooling unrealized gains and potential for future growth.Bitcoin’s (BTC) market dynamics are shifting, as Glassnode data reveals that 88% of the supply is currently in profit, with losses concentrated among buyers in the $95,000-$100,000 range. This high profitability, rebounding from a long-term mean of 75%, indicates a reset in investor expectations. Bitcoin percent supply in profit. Source: X.comBitcoin's price staged a recovery from its long-term cumulative mean percentage in profit, marking a notable shift. Previously, in August 2024, Bitcoin retested the 75% mean at around $60,000. This suggests that the price range of $75,000–$95,000 may represent the bottom, aligning with the structural market conditions observed in Q3 2024.Confirming the decrease in holder sales through exchanges, the total exchange flow (inflow + outflow) to network activity ratio provides further insight. Bitcoin researcher Axel Adler Jr. explained that the chart shows a 1.5x decrease in ratio following Bitcoin’s all-time high, directly confirming that the current growth is more organic.Bitcoin exchange flows to the network activity ratio. Source: Axel Adler Jr. The analyst explained that, unlike previous price peaks, where a high ratio (marked by orange bars) signaled heavy selling, current levels show no such urgency, reinforcing a more stable market environment.High profitability and reduced exchange inflows indicate diminished selling pressure from holders, enabling an improved holder’s mindset between $75,000 and $95,000. This suggests that investors viewed BTC as undervalued and not as an exit opportunity, which aligned with the broader bullish sentiment. Related: Watch these Bitcoin price levels as BTC meets ‘decision point’BTC data hint at cooling unrealized gains under $95KGlassnode noted that the Market Value to Realized Value (MVRV) Ratio, a key market sentiment indicator, has returned to its long-term mean of 1.74. Historically, this level has been a support zone (since January 2024) during consolidation phases, signaling a cooling of unrealized gains and a potential base for future growth.Bitcoin MVRV ratio bands. Source: X.comSimilarly, the Network Value to Transactions (NVT) ratio is neutral at 0.5 with Bitcoin priced at $94,400, in contrast to its overbought signal when BTC was previously at this level in February 2025. This shift in market dynamics and evolving holder behavior indicates that the current cohort of profitable investors may be less inclined to sell at these levels. This could further strengthen the bullish case of the present market structure.Bitcoin NVT golden cross. Source: CryptoQuantRelated: BTC dominance due ‘collapse’ at 71%: 5 things to know in Bitcoin this weekThis 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.
Published Date: 2025-05-05 17:35:16Creator: Cointelegraph by Biraajmaan Tamuly
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What will Bitcoin price be if gold hits $5K?
Key takeaways: Bitcoin has historically outperformed gold, more recently by sixfold.Gold’s climb toward $5,000 could set the stage for significant Bitcoin gains.Weakening US dollar and rising global liquidity remain key drivers for both assets.Gold’s march toward $5,000 per ounce and beyond has become a big topic among hard-asset bulls, including Yardeni Research’s head Ed Yardeni and billionaire investor John Paulson. But what could happen to the price of Bitcoin (BTC), touted as “digital gold” by many, if the precious metal surges even higher? BTC price jumped 6x last time gold rallied Bitcoin has historically delivered far more substantial gains than gold when their markets rally concurrently. From March 2020 to March 2022, during the Federal Reserve’s ultra-loose monetary policies, BTC’s price surged approximately 1,110%, while gold increased by only 35.5%. XAU/USD vs. BTC/USD and Global M2 supply weekly chart. Source: TradingViewIn the November 2022–November 2023 rally, coinciding with rising global money (M2) supply, gold gained about 25%, while Bitcoin jumped by 150% or nearly 6x outperformance.Related: When gold price hits new highs, history shows ‘Bitcoin follows’ within 150 days — AnalystGold’s climb from its current value of around $3,265 to $5,000 will equal 50% gains. So, if history repeats, Bitcoin could grow by 300% or to a price of $285,000 per BTC. That aligns with analyst apsk32’s projected Bitcoin price target, which is based on a power law model normalized against gold’s market cap.Source: X/apsk32Gold boom will push Bitcoin toward $250K — veteran fund managerFrank Holmes, CEO of US Global Investors, sees gold heading to $6,000 during Trump’s presidential term, arguing that bullion has lagged behind the global M2 money supply surge. He links this bold target to Trump’s tariff policies, which he believes could weaken the US dollar by around 25%, boosting gold’s appeal alongside strong central bank demand and underweight investor positioning.Holmes predicts that Bitcoin could break through its $97,000 supply overhang and climb to $120,000–$150,000 in the near term, with a longer-term potential of reaching $250,000 as adoption accelerates.BTC can hit $155K if gold’s lagging correlation holdsIn late April, gold climbed to an all-time high of $3,500, up 33.35% year-to-date (YTD). It has corrected slightly to reach $3,237 as of May 5. In comparison, Bitcoin has risen merely 0.82% YTD.BTC/USD and XAU/USD daily chart comparison. Source: TradingViewSome market watchers, including analyst Cryptollica, point to Bitcoin’s past behavior of following gold after a lag, suggesting a possible move toward the $155,000 level if it breaks out of its prevailing consolidation range.BTC/USD vs XAU/USD trend comparison. Source: Cryptollica/XBitcoin’s 30% pullback from its record high of around $110,00 appears mild compared to past sell-offs of over 50%. This resilience strengthens its role alongside gold and raises the chance it could follow gold’s rally if market conditions improve. 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.
Published Date: 2025-05-05 16:18:06Creator: Cointelegraph by Yashu Gola
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Crypto market manipulation schemes are becoming increasingly coordinated
Opinion by: Tracy Jin, Chief Operating Officer, MEXCMarket manipulation is everywhere and yet nowhere to be seen. It is an invisible threat affecting crypto and traditional markets, leaving ordinary traders counting the costs. Sometimes, manipulation is obvious — illiquid tokens being pumped high before being dumped just as fast — but often, it's subtler and more challenging to detect.What's more concerning is that these schemes are no longer the domain of rogue whales or amateur pump groups. Signs increasingly point to highly organized, well-funded networks coordinating activities across centralized exchanges, derivatives platforms, and onchain ecosystems. As these actors grow in sophistication, their threat to market integrity expands exponentially.A tale as old as time Market manipulation is as old as markets themselves. In ancient Greece, a philosopher named Thales of Miletus used his knowledge of weather patterns to predict a bumper olive harvest, quietly leasing all the olive presses in the region at a low rate before the season started. Then, when the harvest came in, and demand for presses spiked, he rented them out at inflated prices, pocketing the difference. For a more recent historical example, albeit still 300 years in the past, see the South Sea Company bubble in which company directors dumped shares at peak prices, leaving regular investors rekt. Or the Dutch tulip bubble of a century earlier. Market manipulation has existed in crypto since the first exchanges came onstream around 2011. Those who were around back then may recall the pump-and-dump schemes on the BTC-E exchange orchestrated by a notorious trader called Fontas. Or they might remember Bear Whale, whose 30,000 BTC sell wall crashed the market at a time when total daily trading volume was less than $30 million — for all of crypto combined. While not technically market manipulation, it showed how easily one individual could move the crypto market.Fast forward to today, and crypto is a multi-trillion dollar asset class, rendering manipulation of large-cap assets virtually impossible for solitary whales. But when a group of nefarious traders team up, it's still possible to move markets — and well-organized insiders are doing just that.Manipulators make their moveThe days when a single whale could set a BTC sell wall that took weeks to topple are long gone. While crypto is magnitudes more liquid these days, it's also much more fragmented. This presents opportunities to enterprising traders who hunt in packs to move markets to their advantage. Often working through private Telegram groups, people coordinate activities targeting markets where they can have the most effect. The trend highlights the growing participation of major players in market manipulation schemes, presenting a new level of risk for the crypto industry. Recent: What are exit liquidity traps — and how to detect them before it is too lateIn February, analyst James CryptoGuru warned of large-scale manipulation risks involving spot Bitcoin ETFs. He explained that these instruments could put downward pressure on Bitcoin's price — particularly when traditional financial markets are closed. Such a strategy could trigger liquidations among leveraged traders and create temporary imbalances, allowing large players to accumulate BTC and ETH at discounted prices.Because crypto — both onchain and on-exchange — is highly interconnected, the ripple effects of a successful manipulation attempt extend far and wide. If a trading pair queried by APIs for feeding other markets is knocked out of sync on one centralized exchange, it can generate arbitrage opportunities elsewhere, including on perps markets. As a result, an attack can be initiated on one exchange, and the profits claimed on another, making it extremely hard to catch the culprits.The integrity of the cryptocurrency market faces increased risk. Coordinated groups have deep pockets, technical tools, and cross-platform access to execute and mask complex operations. The troubling part is that most exchanges remain reactive by design since it's virtually impossible to prevent market manipulation. As a result, attackers have a high chance of retaining the advantage, even if the window in which they're free to run amok is becoming increasingly smaller.Not all manipulators break the rulesJust as Thales of Miletus wasn't breaking the rules when he profited off olive season, much of what constitutes crypto manipulation isn't illegal. When a large fund starts buying a particular token through one of their public wallets to attract attention — is that manipulation? Or when market makers go beyond simply matching bid-ask spreads to actively propping up a token's price at the request of a project? Many things move markets, but mostly things that aren't illegal — at least not now.While the moral code governing influencers, market makers, trading firms, and other players of serious size can be debated at length, other cases require less nuance. The last time anyone checked, using thousands of exchange accounts staffed by dozens of users to inflate a particular asset is blatant manipulation. Exchanges, aided by increasingly sophisticated AI-powered tooling, are fighting back.The days when one user would cause mayhem on the markets may be over. The threat hasn't, however, dissipated in the multichain, multi-exchange era — it's multiplied. As a result, exchanges are now locked into a game of whack-a-mole, trying to detect suspicious behavior initiated by hundreds or thousands of accounts simultaneously.Thankfully, exchanges don't have to do it alone, as successful collaboration cases show. When Bybit was hacked in early 2025, other platforms stepped in to lend ETH and help it meet its withdrawal obligations — a rare but powerful sign of solidarity in the face of crisis.As well-funded, highly organized groups continue to test the system, one thing becomes clear: manipulating the market may be relatively easy — but doing so without being detected is increasingly difficult. Collective vigilance, data sharing, and early detection are becoming the most effective tools in safeguarding the integrity of the crypto trading ecosystem.Opinion by: Tracy Jin, Chief Operating Officer, MEXC. This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Published Date: 2025-05-05 15:00:00Creator: Cointelegraph by Tracy Jin
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Ripple commits $25M US school nonprofits
Ripple, the US-based crypto services firm behind the XRP Ledger, has committed $25 million in Ripple USD (RLUSD) to education nonprofits DonorsChoose and Teach For America.According to a May 5 announcement, the grant will be processed through the crypto charity intermediary service The Giving Block. DonorsChoose CEO Alix Guerrier said "teachers are going the extra mile for their students' education, even spending hundreds — sometimes thousands — of dollars out-of-pocket for their classrooms." The donations are meant to provide teachers with resources for such initiatives.Ripple cites a 2024 Gallup survey showing that 55% of US parents and adults are dissatisfied with the quality of K-12 education in the United States. This highlights “constraints and gaps in funding for education,” the reports reads. Ripple CEO Brad Garlinghouse said in the statement:“We hope to inspire others to do the same, starting with Teacher Appreciation Week, and leading into the rest of the year to support students and teachers with the resources they need to build a stronger future for themselves and their communities.”Teach For America CEO Aneesh Sohoni said the new funding will allow the organization to expand its “Ignite Tutoring Fellows program, drive innovation in our Reinvention Lab, and provide crucial financial assistance” to prepare teachers. Related: The Giving Block starts disaster fund for California wildfire victimsCrypto-fueled charityThe cryptocurrency industry is familiar with charitable donations. Last month, Binance co-founder Changpeng “CZ” Zhao pledged over half a million dollars worth of crypto to the earthquake disaster relief effort in Thailand and Myanmar. The Giving Block forecasts crypto donations to reach $2.5 billion in 2025.Another player in the crypto charity field, Blockchain For Impact (BFI), in March committed $90 million to advance biomedical research.Magazine: 6 Questions for Alex Wilson of The Giving Block
Published Date: 2025-05-05 14:48:03Creator: Cointelegraph by Adrian Zmudzinski
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