ZeroStack CEO Daniel Reis-Faria says the CLARITY Act stablecoin deal reduces investor uncertainty but has not resolved institutional hesitation yet.

The stablecoin deal was finalised on May 1 by Senators Thom Tillis and Angela Alsobrooks, drawing a clear line: crypto platforms cannot pay interest on stablecoins in any way that functions like a bank deposit. Activity-based rewards tied to payments and platform use are still permitted.

As crypto.news reported, the Senate Banking Committee is now targeting a markup during the week of May 11, with a Senate floor vote targeted before the May 21 Memorial Day recess.

“With lawmakers getting closer to a deal on stablecoin rules, that takes away one of the bigger reasons investors have been holding back,” said Daniel Reis-Faria, CEO of ZeroStack.

The institutional hesitation that remains

But Reis-Faria stopped short of calling this a turning point. “Right now, it’s not the rules themselves. It’s not knowing how they’re going to play out over time. That’s what’s keeping larger players from stepping in,” he said.

As crypto.news documented, JPMorgan had previously described CLARITY Act passage by midyear as a “key positive catalyst” for digital asset markets. The SEC, CFTC, and Treasury are directed to jointly issue implementation rules within one year. That one-year window is precisely the ambiguity Reis-Faria is pointing to.

Blockchain Association CEO Summer Mersinger said the yield resolution “brings us meaningfully closer to comprehensive market structure legislation becoming law” and urged the committee to move without delay.

As crypto.news tracked, five steps remain: Senate Banking markup, committee vote, a 60-vote floor threshold, reconciliation with the Agriculture version, and reconciliation with the House text.

“This advancement helps, but it’s not a full shift yet,” Reis-Faria said. “Until there’s more clarity, you’re still likely to see a more cautious approach from bigger players.”

As crypto.news noted, Standard Chartered estimated that uncapped stablecoin yield could redirect up to $500 billion in deposits from traditional banks by 2028, explaining the banking lobby’s sustained resistance throughout negotiations.

Capital B raised 1.1 million euros ($1.28 million) through a warrant issuance subscribed by Blockstream CEO Adam Back, extending the cryptographer’s backing of the French-listed Bitcoin treasury company.

Back subscribed to 10 million subscription warrants at $0.13 each, according to a Monday announcement from Capital B. Each warrant gives Back the right to buy one new share of future company stock at the exercise price of $0.98, corresponding to the company’s market net asset value (mNAV) of 1.1 per share, the company said.

The deal would increase Back’s exposure to Capital B, where he is already one of the company’s largest strategic investors. Back now holds over 39.5 million shares or 9.97% of Capital B’s shares on a fully diluted basis. Back is best known as the inventor of Hashcash, the proof-of-work system cited in the Bitcoin white paper.

The raise comes as some Bitcoin treasury companies continue seeking capital for accumulation strategies, while others are using derivatives or asset sales to manage balance sheet risk during Bitcoin’s downturn. Capital B and the United Kingdom-based Connecting Excellence Group (XCE) were the only Bitcoin treasury companies to raise capital in Europe over the past month.

XCE’s $794,000 capital raise on April 23 was also backed by Adam Back.

Capital B raises $1.28 million from Adam Back. Source: Capital B

Capital B shares rise 6% after capital raise announcement

Capital B said the new capital will be used to “accelerate” its Bitcoin treasury strategy, which was perceived as a positive signal from shareholders.

Capital B’s stock price rose by over 6.5% on Monday, but is still down over 16% since the beginning of 2026, data from Yahoo! Finance shows.

Capital B (ALCB.PA) stock price, year-to-date chart. Source: Yahoo! Finance

Capital B is the 25th largest Bitcoin treasury company, holding 2,943 BTC currently worth about $234 million, according to Bitcointreasuries.net data.

Related: Adam Back says Bitcoin’s post-quantum shift may reveal true Satoshi stash

Other Bitcoin treasury companies are reducing the balance sheet risk associated with Bitcoin’s downturn.

On April 24, Nasdaq-listed Bitcoin treasury company Nakamoto announced an actively managed Bitcoin derivatives program seeking to generate recurring income from volatility and hedge part of its corporate BTC holdings against downside exposure.

Nakamoto is the 20th-largest Bitcoin treasury firm and the largest to disclose selling part of its holdings earlier this year. The company announced a sale of 284 Bitcoin (worth about $20 million at the time) in a March 30 filing with the US Securities and Exchange Commission. 

A month earlier, in February, Bitcoin treasury company Genius Group said it liquidated its entire treasury holdings of 84 BTC for about $5.7 million, which it used in repaying an $8.5 million debt obligation, according to an SEC filing. 

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TLDR:

• Bitcoin’s net realized profits hit $207.56M on Sunday, marking the highest on-chain profit spike in a month.
• BTC crossed $80,000 for the first time in three months, absorbing heavy sell pressure without a price breakdown.
• New buyers entering at $80K are unlikely to sell at a loss quickly, creating a stronger price support floor.
• Santiment data shows profit-taking during price strength historically signals mid-bull momentum, not a market top.

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Bitcoin realized profits surged to their highest level in a month as the asset crossed the $80,000 mark for the first time in three months.

On Sunday, the network recorded net realized profits of $207.56 million. Analysts view this as a constructive signal for the market.

The data comes from on-chain analytics firm Santiment, which tracks profit and loss activity across the Bitcoin blockchain in real time.

Strong Demand Absorbs Heavy Sell Pressure

Realized profit measures the difference between what a holder paid for Bitcoin and its current value at the time of movement.

When coins bought at $50,000 move on-chain after Bitcoin crosses $80,000, that gap becomes recorded profit. Santiment shared the data on Sunday, noting the chart reflects total network-wide gains and losses over a given period.

The $207.56 million in realized profits occurred while Bitcoin was climbing, not falling. That timing matters because it shows buyers absorbed hundreds of millions in sell-side pressure without the price breaking down.

Markets that hold firm under heavy profit-taking tend to reflect strong underlying demand rather than speculative weakness.

According to Santiment, “when a high level of profit taking occurs while markets are on the rise, it’s generally a bullish signal that the uptrend can continue.”

This pattern has historically appeared more in the middle stages of bull markets than at their peaks. The price response to Sunday’s selling supports that view.

The fact that Bitcoin held and pushed higher despite the volume of exits tells a straightforward story. Buyers were ready and willing to step in at those prices.

That kind of demand absorption is often treated as a market resilience test, and Sunday’s data suggests the market passed it.

Cost Basis Reset Builds a Stronger Support Floor

One structural outcome of mass profit-taking is a shift in the network’s average cost basis. When long-term holders sell their coins into strength, those coins transfer to new buyers entering at around $80,000. This process raises the average price paid across the network as a whole.

New buyers who entered at $80,000 are statistically less likely to sell at $79,000. They just acquired their position and have little incentive to exit at a loss so quickly.

Over time, this creates a denser support zone beneath current prices, making sharp downside moves harder to sustain.

It is also worth noting that Sunday’s spike was a monthly high, not an all-time record. Bitcoin has absorbed similar and larger profit-taking events in prior cycles and continued moving higher afterward. A moderate profit event that the market shrugs off tends to reflect resilience rather than a top signal.

Taken together, the on-chain data points to a market that is digesting supply efficiently. The combination of rising prices, elevated realized profits, and strong demand absorption presents a relatively steady picture for Bitcoin heading into the days ahead.

GameStop proposed an unsolicited, non-binding $55.5 billion acquisition of eBay in a cash-and-stock deal, as the video game retailer looks to push further beyond its legacy retail business.

The company on Sunday submitted a non-binding proposal to acquire 100% of eBay at $125 per share in cash and stock, according to an announcement.

The offer includes a 46% premium to eBay’s unaffected closing price on Feb. 4, 2026, when GameStop began building its position in the company. GameStop also disclosed it has accumulated a roughly 5% economic stake in eBay through derivatives and common stock holdings.

The proposal comes as GameStop tries to reposition itself beyond physical video game retail, including through a Bitcoin treasury strategy approved in 2025. But the bid also raises financing and execution questions because eBay’s market value is several times larger than GameStop’s.

Potential cost cuts and integration plans

GameStop outlined potential cost savings of around $2 billion annually if the deal closes. It said those reductions would come from marketing, product development and administrative consolidation.

The company said eBay spent around $2.4 billion on sales and marketing alone in fiscal 2025, while only adding one million net active buyers.

“More spend is not producing more users on a marketplace with near-universal brand recognition,” GameStop added.

Source: GameStop

GameStop also pointed to its retail footprint of roughly 1,600 US stores as a possible asset for eBay’s logistics and authentication services. It suggested these locations could be used for product intake and fulfillment support.

It also said the proposal stipulates that the GameStop CEO would serve as CEO of the combined company if the acquisition succeeds.

Related: Bakkt completes acquisition of stablecoin payments firm Distributed Technologies Research

“EBay should be worth — and will be worth — a lot more money,” Cohen reportedly said, adding: “I’m thinking about turning eBay into something worth hundreds of billions of dollars.”

According to TradingView, eBay’s market capitalization stands at $46.2 billion at the time of writing. GameStop’s market cap is around $12 billion.

eBay stock price, all-time chart. Source: TradingView

GameStop has attracted attention for its growing ties to crypto markets, particularly after adding Bitcoin (BTC) to its corporate treasury strategy in 2025. The move positioned the company alongside a small group of public firms experimenting with digital assets as part of their balance sheet diversification.

The retailer also became a central figure in the 2021 meme stock frenzy, when retail investors coordinated buying activity that sent its shares sharply higher and triggered extreme volatility.

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South Korea’s crypto industry has reportedly warned that proposed Anti-Money Laundering (AML) rule changes could create operational confusion by forcing virtual asset service providers (VASPs) to report all overseas-linked virtual asset transfers worth 10 million Korean won (about $6,800) or more as suspicious transactions.

According to a Yonhap News report on Sunday, the Digital Asset eXchange Alliance (DAXA), an industry body representing South Korean exchanges, submitted comments on the proposed changes to the Enforcement Decree of the Specific Financial Information Act and related supervisory rules. The comments reflected the views of 27 registered VASPs, including the country’s five major exchanges: Upbit, Bithumb, Coinone, Korbit and Gopax.

DAXA said the proposal could increase suspicious transaction reports from South Korea’s five largest exchanges by 85 times, from about 63,000 cases last year to over 5.4 million, making compliance difficult in practice. The group also objected to a proposed requirement to verify the accuracy of customer information, arguing that lower-level rules add obligations not clearly set out in the underlying law. 

The pushback highlights growing tension between South Korea’s effort to tighten crypto AML oversight and the industry’s concern that compliance rules are being expanded beyond what exchanges can reasonably process. 

The Financial Services Commission (FSC) and the Financial Intelligence Unit (FIU) proposed the amendments on March 30, opening a public notice period through May 11. Under the proposal, domestic VASPs conducting virtual asset transfers with overseas VASPs would have to report transactions of 10 million won or more as suspicious regardless of risk level. The rules are expected to be finalized in July after regulatory and legal review.

Related: South Korea tightens crypto withdrawal-delay exemptions after scam losses

Courts halt FIU’s AML sanctions on major exchanges

The industry pushback comes as South Korean exchanges are already challenging AML-related sanctions imposed by the Financial Intelligence Unit in court. 

On April 9, Upbit operator Dunamu won a first-instance ruling canceling a three-month partial business suspension tied to alleged violations involving customer due diligence and transactions with unregistered foreign virtual asset service providers. However, the regulator appealed the decision on April 30, according to Yonhap.

On Friday, crypto exchange Bithumb also received court relief after the Seoul Administrative Court suspended enforcement of a six-month partial business suspension until the main case is decided. The FIU imposed the sanction after an inspection found alleged violations of South Korea’s Financial Information Act, including failures tied to transactions with unregistered VASPs.

Coinone, which received a three-month partial business suspension and a 5.2 billion won fine over alleged AML failures, also received a temporary reprieve after challenging the sanctions. Local reports said the case involved customer verification issues and transactions with unregistered overseas virtual asset service providers.

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Key takeaways:

• Improved Bitcoin mining profitability and massive ETF inflows have calmed investors’ fears that miner selling could cap BTC price.
• Bitcoin dominance hits its highest level since July 2025 as investor interest shifts away from struggling altcoin sectors.

Bitcoin (BTC) surged to $80,000 for the first time in three months on Monday, triggering $270 million in liquidations across leveraged short (sell) futures contracts. This positive momentum for Bitcoin coincided with tech stocks jumping to an all-time high, signaling a broad risk-on environment. Currently, three key indicators point to further upside momentum for Bitcoin.

Nasdaq 100 futures (left) vs Bitcoin/USD (right). Source: TradingView

Bitcoin’s price action maintained a tight correlation with the tech-heavy Nasdaq 100 Index. Yet while the US stock market nears its highest-ever level, Bitcoin sits 36% below its $126,200 peak from October 2025.

Bitcoin Hashprice Index by Luxor, USD. Source: HashrateIndex

Profitability for Bitcoin miners has also improved. The expected daily return for 1 pentahash/second has climbed to $37, a high not seen since Jan. 30. This shift is crucial because the total hashrate has dropped 13% over the last quarter. Major publicly listed mining firms have recently liquidated their Bitcoin treasuries to reduce debt and support AI data center investments.

Bitcoin miners, ETF flows and options demand back BTC’s momentum

For a time, traders feared that a decline in network hash power would spark additional sell pressure. Data from BGometrics shows miner reserves hitting 10-year lows and on Thursday, Riot Platforms (RIOT US) confirmed that it sold $250 million in Bitcoin last quarter. Fortunately, the recent jump in mining profitability is beginning to alleviate these structural concerns.

Bitcoin market share, excluding stablecoins. Source: TradingView / Cointelegraph

Bitcoin’s market share, excluding stablecoins, has jumped to its highest level since July 2025. This move reflects a declining demand for memecoins, governance tokens, and blockchain applications in general. Reduced interest in decentralized exchanges and numerous hacks within finance applications have also contributed to the negative sentiment surrounding altcoins.

Combined assets under management for Bitcoin and Ether (ETH) exchange-traded products reached $147 billion, according to a CoinShares report from April 27. In comparison, similar products for Solana and XRP have failed to break above $3 billion each. Investors’ expectations for institutional demand for major altcoins proved too high, as BTC and ETH now account for 95% of that market.

Related: Bitcoin short-term cost basis approaches profitability, but $80K must flip to support first

Deribit Bitcoin options premium put-to-call, USD. Source: Laevitas

Demand for call (buy) option premiums exceeded that for equivalent put (sell) options on Monday by 24%. This data represents a major turnaround from levels seen during the weekend, when premiums paid for call options were 25% lower than those for put options. While it seems premature to conclude that traders are flipping bullish, the fear of an imminent price decline is no longer present.

Friday’s strong $630 million net inflows into US-listed spot exchange-traded funds (ETFs) likely contributed to the improved sentiment. Regardless of the high correlation with tech stocks, Bitcoin’s path to $85,000 remains valid given the increased mining profitability, dominance versus altcoins and Bitcoin options data.

This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.

The price of SUI is currently at $0.91, with a possibility of a short-term bounce due to increasing long positions despite poor technical signals.

Key Insights

• SUI continues to trade almost around $0.91 due to increasing long positions with strong support between $0.88 and $0.89 and strong resistance at $0.94–$0.97.
• Decreasing open interest along with negative funding indicates low leverage, implying that the spot is what drives any potential bounce.

SUI Hugging Support Levels

SUI was quoted at around $0.91 on May 1, continuing its tight consolidation pattern amid increased market calmness. While general market uncertainty continues and technical indicators point towards negative performance, it is interesting to note that large players remain long, demonstrating their conviction in future growth.

The asset has been under price pressure following its fall from an all-time high level recorded in January, partly due to a network malfunction that dampened investors’ sentiment. In response, SUI saw strong selling activities in derivatives markets, resulting in more than 30% decline in its value below a crucial moving average trendline.

Support and Resistance Mark the Price Range

The present trading activity is characterized by consolidation instead of panic selling. The price of SUI keeps testing support at $0.88-$0.89 several times, indicating active defensive measures on the part of buyers. At the same time, the price fails to rise above the resistance levels at $0.94-$0.97.

Such compression of the price range suggests that a breakthrough is expected soon. Increased volatility usually precedes strong market movements, and the traders are waiting for signals that will show the further direction of the price.

In case the price breaks above the current resistance with an adequate volume, the analysts forecast a short-term increase to the $1.20 price.

Bullish Divergence in Market Sentiment

Analysis of the market’s positioning shows a significant divergence between the price movement and the sentiment of the players in the market. The large players, who are often known as the ‘smart money’, remain net long despite the inability of the price to move up. The retail traders are following suit.

Such divergences can often be followed by abrupt movements in the market, especially where the sentiment is positive but the price is still consolidating.

Nonetheless, one must always be careful because sentiments alone cannot push the prices higher without demand.

Falling Leverage Changes Market Equilibrium

From recent statistics, it can be observed that there has been a fall in open interest despite funding rates being only marginally negative. This is an indication of a decrease in leveraged trades.

Therefore, any positive momentum will have to rely on spot demand and shorts covering rather than leveraged buying. If the buyers enter into the market at critical levels, then it would make the move more sustainable and stable. In addition to this, falling leverage minimizes chances of forced liquidations.

Downside Risks Persist

Though there may be some hope of a rally, the possibility of downside risks cannot be discounted. Should SUI fail to find support near the $0.88 mark, the next level of support might come at roughly $0.85.

There is also the possibility of a further drop to $0.70 should selling momentum build up while buyers refrain from coming back into the game. There is no denying the weakness in the overall market structure due to the recent break below the 200-day simple moving average.

Traders Look for a Decisive Move

Right now, SUI finds itself at a crossroads, where important technical, as well as position in the markets, are aligning themselves. Traders are keeping an eye on liquidity, volume, and order flow for a breakthrough.

The more consolidated SUI becomes, the more conviction we can expect from the next move, whether that is above resistance or below support