Bitcoin trader says BTC’s cycle top in $125K to $150K range if certain conditions are met

Key takeaways: Bitcoin (BTC) price jumped to new quarterly highs at $96,700 on May 1, a day after the US GDP contracted -0.3% for the first time since Q2 2022. Amid heightened economic concerns, the probability of a Federal Reserve interest rate cut rose to 62.8% for the June 18 Federal Reserve meeting. Over the…

Mango Markets Exploiter Avi Eisenberg Sentenced to 4+ Years in Prison for Child Porn

NEW YORK, NY — Mango Markets exploiter Avraham “Avi” Eisenberg, who stole $110 million from the now-defunct decentralized finance protocol in 2022, was sentenced to 52 months in prison on Thursday — on his guilty plea to possession of child sexual exploitation material, not for his conviction on the crypto theft. The sentencing comes a year…

Strategy touts 13.7% YTD Bitcoin yield in earnings print

Michael Saylot’s tech firm Strategy has earned shareholders a Bitcoin yield of 13.7% in the year-to-date, the company said in its May 1 earnings report. That equates to a Bitcoin gain of more than 61,000 Bitcoin (BTC), worth approximately $5.8 billion, according to the company. Bitcoin yield and Bitcoin gain are unofficial accounting metrics that Strategy…

Crypto to accelerate AI adoption — LONGITUDE panel

Cryptocurrency can accelerate artificial intelligence adoption by helping AI startups onboard users, according to Polygon’s co-founder Sandeep Nailwal. “You can use crypto incentives and disincentives to onboard users to onboard the ecosystem players,” Nailwal said during a panel discussion at the LONGITUDE by Cointelegraph event. He added that projects with effective onchain incentive structures might…

Federal crypto legislation could come with a ‘New York State of Mind’

Love it or leave it, New York State has been a force in crypto regulation. Ten years ago, the state created the United States’ first comprehensive regulatory framework for firms dealing in cryptocurrencies, including key consumer protection, anti-money laundering compliance and cybersecurity guidelines. In September 2015, the New York Department of Financial Services (NYDFS) issued…

Ethereum to simplify crosschain transactions with new token standards

Ethereum developers are working to improve blockchain interoperability with two new token standards: ERC-7930 and ERC-7828. “There’s no standard way for wallets, apps, or protocols to interpret or display this information,” decentralized finance (DeFi) ecosystem development organization Wonderland wrote in a May 1 X post. Wallets, decentralized applications (DApps), block explorers and smart contracts follow…

Bitcoin to $1M by 2029 fueled by ETF and gov’t demand — Bitwise exec

Bitcoin’s expanding institutional adoption may provide the “structural” inflows necessary to surpass gold’s market capitalization and push its price beyond $1 million by 2029, according to Bitwise’s head of European research, André Dragosch. “Our in-house prediction is $1 million by 2029. So that Bitcoin will match gold’s market cap and total addressable market by 2029,”…

Bitcoin price about to ‘blast’ higher as Fed rate cut odds jump to 60%

Key takeaways: Bitcoin holds $95,000 as Fed rate cut odds rise to 60% for June 18 and the US economy slumps. Breaking $95,000 could push BTC’s price toward $100,000, while dropping below $93,000 may bring the $84,000 back into the picture. Key Bitcoin levels to watch remain around the long-term holders’ cost basis. Bitcoin (BTC)…

SUI Rises 4% as Asset Manager 21Shares Files for ETF

Swiss asset manager 21Shares has filed a S-1 registration form for a SUI exchange-traded fund (ETF) to the Securities and Exchange Commission (SEC). SUI is currently trading at $3.67, rising by 4% after the filing went live on the SEC’s website. “Since our earliest research into Sui, we believed it could become one of the…

Bitcoin rebounds from bearish US GDP data as dip buyers push BTC price back toward $95K

Key takeaways: Bitcoin bulls are attacking the $95,000 level again after today’s brief US GDP-induced sell-off. Traders are semi-agnostic to negative US economic data as they expect the Federal Reserve to resume easing and rate cuts at some point in the future. Bitcoin (BTC) price knocks on the door of $95,000 after starting the NY…