DAILY MARKET OVERVIEW

BTC Retest

👋 Hey, Crypto Enthusiasts! May continues to show strong performance for BTC as markets navigate another wave of US-Iran headlines and macro volatility.

🛢️ Yesterday, tensions between the U.S. and Iran continued to swing back and forth, sending oil prices sharply higher, nearly +10% at one point, while BTC briefly pulled back alongside broader risk assets.

However, Bitcoin once again showed resilience. 💪 

• After the dip, BTC successfully retested its previous resistance around $79,500 and so far continues to hold that level cleanly as support.

• That is a strong sign and keeps the bullish structure intact heading deeper into May.

With the upcoming Strategy ex-dividend date approaching, markets may continue pricing in additional BTC demand, opening the door for a potential move toward the $84K to $85K range next.

The same strength, however, cannot currently be said for ETH.

🟢 While Michael Saylor continues aggressively accumulating BTC…

🔻 Ethereum’s closest corporate proxy, Bitmine, recently stated it may slow ETH purchases as it approaches its 5% ETH supply target.

• The company is already sitting around 4.3%, meaning a large part of that structural buying pressure may soon fade.

Combined with weak interest in ETH ETFs, Ethereum continues to lag behind BTC in both momentum and narrative strength.

⚡️ Still, broader crypto adoption continues accelerating:

• Tokenized RWAs have now surpassed $30B.

• Mastercard, Ondo Finance, JPMorgan Chase & Co.’s Kinexys, and Ripple completed a transaction connecting public blockchain infrastructure with traditional interbank settlement rails, pushing the vision of 24/7 global financial markets another step forward.

• Decentralized exchange Hyperliquid massively outperformed Coinbase in efficiency during Q1:

  • Coinbase: $394M loss

  • Hyperliquid: $192M profit

  • Similar business models, but Hyperliquid reportedly operates with just 11 people compared to Coinbase’s 4,250 employees, reigniting interest in the long-term potential of decentralized finance.

Overall, May continues to look constructive for crypto markets.

As long as BTC holds above the $79K region, the uptrend remains intact, and current price action continues to favor further upside through the rest of the month.

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SOCIAL SENTIMENT

🔵 Coinbase Evolving

Wall Street is still betting big on Coinbase even after the company reported a rough quarter, with investment firm Bernstein saying the stock could still climb another 70% from current levels.

• At first glance, the numbers looked weak. Coinbase posted a $394 million quarterly loss as crypto markets cooled and trading activity slowed across the industry.

• But analysts believe the bigger story is what Coinbase is becoming behind the scenes.

Instead of relying only on people buying and selling crypto, Coinbase is rapidly expanding into derivatives trading, prediction markets, stablecoin payments, and blockchain infrastructure.

🌱 In other words, the company is trying to evolve from a crypto exchange into the financial backbone of the next internet economy.

• One of the biggest surprises has been the explosive growth of Coinbase’s newer businesses. Its prediction markets platform became one of the fastest-growing products in company history, achieving over $100 million in annualized revenue by March 2026, just months after launch.

• While its Ethereum Layer 2 network, Base, is seeing continued growth in stablecoin activity.

Bernstein believes most investors are still valuing Coinbase like a simple trading app, while ignoring the possibility that it could eventually operate more like a global financial platform powering crypto payments, trading, tokenized assets, and AI-driven commerce all in one ecosystem.

NEWS OVERVIEW

The Latest Crypto Headlines 📰 

Warren Challenges Meta Stablecoin Plans
Senator Elizabeth Warren raises concerns over Meta’s reported stablecoin rollout plans across its massive global platform ecosystem.

AWS Brings Stablecoin Payments to AI Agents
Amazon Web Services partners with Coinbase and Stripe to let AI agents autonomously execute stablecoin micropayments.

South Korea Tightens Crypto Transfer Rules
South Korea passes a new law requiring crypto firms handling overseas transfers to register with authorities ahead of stricter regulations and taxation.

Solv Drops LayerZero for Chainlink
Solv Protocol migrates $700 million in tokenized bitcoin infrastructure after security fears tied to the Kelp DAO exploit.

YOUTUBE INFLUENCER SUMMARY

Summary From The Top Influencers 📷️ 

Benjamin Cowen – Bitcoin: The Beauty of Mathematics (Part 70) (08.05.2026 Summary)

Benjamin Cowen says the crypto market still looks historically undervalued despite Bitcoin recovering above $80K.

Key Points

• Cowen says the total crypto market cap is still below its long-term “fair value” trend

• He believes 2026 may remain an undervalued year for crypto due to weak market enthusiasm

• Unlike past cycles, Bitcoin topped on “apathy” rather than strong retail euphoria

• He says macro factors like inflation, interest rates, and monetary policy have limited crypto’s upside since 2021

• Bitcoin has underperformed assets like gold, energy, the S&P 500, and Nasdaq this year

• Current rallies are not enough to push crypto back into historically overvalued territory

• Cowen compares today’s market more to 2019, where crypto stayed undervalued before a stronger future cycle emerged

• He still expects the total crypto market cap to eventually reach around $10 trillion over time

Final Takeaway
Cowen believes crypto is still in a long consolidation phase rather than a euphoric bull market. While rallies can continue short term, he expects the market to stay relatively undervalued until macro conditions improve and stronger retail demand returns.

Bravos Research – Brace Yourself (08.05.2026 Summary)

Bravos Research argues that the AI investment boom is not over yet, despite growing comparisons to the dotcom bubble.

Key Points

• Big tech companies are expected to spend around $700 billion on AI infrastructure this year alone

• Some investors worry the spending is becoming excessive, similar to the fiber optic boom before the 2000 crash

• Bravos says the key difference is that economic data still looks strong today

• The US manufacturing PMI remains above 50, signaling ongoing business expansion rather than contraction

• Strong earnings from companies like Amazon, Microsoft, and Alphabet suggest AI spending is still accelerating

• Semiconductor companies continue benefiting most from the AI buildout through rising earnings growth

• Bravos expects capital to rotate next into sectors supporting AI infrastructure, especially nuclear power, copper, aluminum, and energy infrastructure

• They believe these sectors remain undervalued compared to the attention currently focused on AI software and chips

Final Takeaway
Bravos Research believes the AI boom still has room to run because the broader economy and corporate earnings remain strong. Instead of expecting an immediate collapse like 2000, they see the next major opportunity shifting toward the raw materials and energy infrastructure needed to support AI growth.

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