Bitcoin on Fire

DAILY MARKET OVERVIEW

 💪 Bitcoin Holds $110K

👋 Hey there, Crypto Enthusiasts! This is a condensed version of our newsletter. We'll be fully back and ready to roll on May 27th, 2025! 😊

🐂 Bitcoin Continues to Lead the Charge

Bitcoin is holding strong after an impressive rally over the past several weeks, currently trading at $110,000. Last week marked one of its best performances in ETF activity, with over $2.5 billion in inflows, a strong vote of confidence from institutional investors.

One standout example is Strategy, which continues to accumulate BTC aggressively. Their total holdings now stand at a staggering 580,250 BTC, showing no signs of slowing down.

🟢 Florida Pushes for Bitcoin Adoption

In a major pro-crypto move, Florida has introduced a bill to eliminate capital gains tax on Bitcoin. If passed, it could be a major incentive for individuals and businesses to adopt and transact in BTC within the state.

🎒 Altcoin Activity

While most altcoins are seeing lukewarm interest, Hyperliquid is emerging as a clear exception. The decentralized exchange is gaining traction rapidly and is now being viewed as a leading alternative to more centralized platforms.

There appears to be a rotation from Solana to Hyperliquid, with traders hunting for fresh opportunities and more agile ecosystems.

🇺🇸 Trump Tariff Headlines

Markets wobbled briefly after Donald Trump floated a potential 50% tariff on EU goods, but those plans have now been delayed until July. As a result, markets have already rebounded and regained footing.

🤔 Looking Ahead: Watch for a Breather

Bitcoin has posted seven consecutive green weeks and is now entering the eighth. While momentum remains strong, we’re approaching this week with cautious optimism, watching for a possible correction toward the $100,000 to $102,000 range.

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NEWS OVERVIEW

The Latest Crypto Headlines 📰 

Coinbase Sued Over Stock Drop Tied to Data Breach Disclosure
Coinbase faces a class action from shareholders alleging it failed to disclose a December data breach, triggering a stock drop earlier this month.

$1 Billion BTC Short: Hyperliquid Whale Flips Position After $17.5M Loss
Trader James Wynn closed a $1.2B long on BTC and opened a $1B short with 40x leverage, risking his $50M wallet on Hyperliquid.

Polygon Co-Founder Mihailo Bjelic Steps Down from Project and Foundation
Mihailo Bjelic has exited his active roles at Polygon Labs and its foundation, becoming the third co-founder to step away from the Ethereum L2.

Semler Scientific Surpasses 4,000 BTC After Latest $50M Bitcoin Buy
Semler Scientific now holds 4,264 BTC after a fresh $50M purchase, continuing its treasury strategy with a 25.8% year-to-date BTC yield.

CRYPTO MEMES