Crypto World
CFTC Gets Mixed Responses to Prediction Market Rulemaking
The US Commodity Futures Trading Commission received more than 1,500 responses to a proposed rule tied to prediction markets, with some backing the regulator while others called for a tougher crackdown on the platforms.
The CFTC’s request for public comments on a rule it proposed in March that would allow it to amend or issue new regulations for event contracts on prediction markets ended on Thursday, drawing responses from prediction markets, crypto firms and consumer advocacy groups.
Kalshi co-founder and chief operating officer Luana Lopes Lara backed the CFTC in a letter on Thursday, saying its existing regulations were “well-designed and effective,” urging it to give guidance to ensure “that the universe of event contracts can continue to be listed, traded, and overseen by the Commission.”
The CFTC’s proposed rule comes as it looks to cement its authority over prediction markets, which have faced legal challenges from multiple US states that accuse the platforms of offering unlicensed sports gambling.
Kalshi, Polymarket and Coinbase are among the companies that have been sued over their sports prediction market offerings and have argued they are under the CFTC’s sole authority, a position the regulator has backed by suing at least five state governments that took legal action against prediction markets.
Polymarket US CEO Justin Hertzberg applauded CFTC Chair Mike Selig in his letter for “asserting the CFTC’s longstanding exclusive jurisdiction over prediction markets,” adding the company believes the regulator “should continue to exercise its exclusive jurisdiction over prediction markets.”

Mike Selig, pictured on a podcast in March, has threatened to sue any state that takes action against prediction markets. Source: YouTube
Venture capital firm Andreessen Horowitz also supported the CFTC, arguing in its letter that “state actions to regulate or ban prediction markets impose a serious barrier to impartial access,” a key rule for CFTC-regulated firms.
Meanwhile, gambling regulators in Tennessee, Missouri and Pennsylvania, among others, blasted the CFTC over its defense of sports event contracts, urging the regulator to drop its support.
Pennsylvania Gaming Control Board Executive Director Kevin O’Toole said the CFTC was allowing prediction markets “to masquerade as unregulated sportsbooks,” while Tennessee Sports Wagering Council Executive Director Mary Beth Thomas said the council disputes “that sports event contracts offered on prediction markets fall within the jurisdiction of the CFTC at all.”
Related: Polymarket pushes for broader US relaunch with CFTC talks: Report
Missouri Gaming Commission executive director Michael Leara said that Congress “did not intend futures markets to encompass gambling activities,” and urged the CFTC to “properly reserve jurisdiction over sports event contracts for the states.”
Prediction markets have also come under scrutiny from some federal lawmakers, who are concerned about the platforms’ offering markets tied to geopolitical events and their possible use by those with insider knowledge after well-timed bets on the Iran war.
Dennis Kelleher, the CEO and co-founder of the consumer advocacy group Better Markets, and 12 other consumer groups, told the CFTC in a joint letter that it should “prohibit event contracts that involve elections or geopolitical events,” arguing such contracts could influence government actions.
Kalshi and Polymarket said last week, after the US Senate passed a ban on its members and staff using prediction markets, that they have cracked down on insider trading and ban or prohibit some users, such as politicians, from using their platforms.
Magazine: Should users be allowed to bet on war and death in prediction markets?
Crypto World
Is Your Career at Risk? How to Determine if You’re Among the 25% Most Vulnerable to AI Disruption
Key Takeaways
- Global analysis identifies approximately 838 million positions—nearly 25% of all jobs—as vulnerable to generative AI disruption
- Wealthier nations show 33.5% job exposure rate compared to just 11% in lower-income countries
- First quarter of 2026 witnessed 86 technology firms eliminate over 80,000 positions—the highest three-year figure
- Meta announced May workforce reduction of 10%; Microsoft initiated voluntary separation packages
- Industry analysts argue AI serves as convenient scapegoat while pandemic overstaffing and interest rate increases remain primary drivers
Bank of America has released findings based on International Labour Organization research indicating that approximately 838 million positions globally face exposure to generative artificial intelligence technologies. This represents roughly 25% of the worldwide workforce.
The analysis reveals that younger professionals, female workers, and those with advanced education credentials demonstrate the highest vulnerability levels. Developed nations with high-income economies experience the greatest impact, showing a 33.5% exposure rate. Conversely, lower-income countries register only an 11% exposure figure.
According to BofA’s economic team, affluent economies possess superior positioning to capitalize on AI-driven productivity enhancements. However, their analysis cautions that corporations spearheading AI infrastructure development will likely capture disproportionate benefits from these technological advances.
Economic researchers have challenged catastrophic unemployment predictions. They reference historical precedents—ranging from the Industrial Revolution through the digital era—demonstrating that technological shifts typically generate new employment categories following initial disruption.
Research from Goldman Sachs provides empirical support for this perspective. Their study examined over 20,000 American workers born during the 1950s through 1980s period, revealing that technology-displaced employees experienced genuine financial hardship—but not irreversible economic devastation.
These affected workers required approximately one additional month to secure new positions. Following reemployment, they experienced a 3% decrease in real wages. Throughout the subsequent ten-year period, their income growth lagged nearly 10 percentage points behind colleagues who maintained continuous employment.
Goldman’s analysis termed this phenomenon “occupational downgrading”—a process where professional skills depreciate in market value, forcing workers into less lucrative positions.
Technology Sector Employment Reductions Accelerate
During the first quarter of 2026, 86 technology corporations eliminated more than 80,000 positions. This figure represents a dramatic escalation from Q1 2025, when 103 companies reduced approximately 30,000 roles. The data marks the most severe quarterly reduction in three years.
Meta revealed April intentions to reduce its workforce by 10% during May. Microsoft distributed internal communications proposing voluntary departure packages to roughly 7% of employees. Additional companies implementing 2026 reductions include Spotify, Oracle, and Quora.
Numerous organizations have attributed these cuts to artificial intelligence advancement. March statistics showed AI cited as the primary factor in U.S. employment reductions, representing 25% of all job eliminations.
Does AI Actually Drive These Cuts?
During a March BlackRock gathering, OpenAI CEO Sam Altman suggested companies exploit AI as justification for workforce reductions. “Nearly every organization conducting layoffs attributes them to AI, regardless of whether AI genuinely factors into the decision,” Altman stated. Industry observers have labeled this behavior “AI washing.”
Venture investor Marc Andreessen identified two alternative explanations: historically low interest rates during the pandemic period and subsequent excessive hiring practices. His assessment suggests major corporations maintain 25% to 75% workforce surplus.
Epic Games CEO Tim Sweeney demonstrated unusual transparency when eliminating over 1,000 positions: “These layoffs have no connection to AI.”
The Bank of America analysis did not establish specific timeframes for when AI exposure might materialize into concrete job displacement.
Crypto World
Law Firm Files Restraining Notice for Kelp Exploit ETH
A US law firm has filed a restraining notice to block the transfer of frozen Ether from the Kelp exploit, arguing that its clients are owed over $877 million in compensation and damages by North Korea.
Charlie Gerstein, a lawyer for US law firm Gerstein Harrow LLP, said in a post on the Arbitrum DAO forum on Friday that a New York district court signed off on a restraining notice and three writs of execution preventing the DAO from moving the Ether under threat of contempt of court.
The law firm argued that its clients, who were not affected by the Kelp exploit, won default judgments against North Korea in three separate US court cases in 2010, 2015 and 2016 and are owed a collective $877 million in compensatory and punitive damages, plus interest. It also argued that its clients have a claim to DPRK property. Gerstein said in the restraining notice that the stolen Ether is “property” in which the DPRK has a stake because the hacker group is affiliated with the country.
The freeze could mean those affected by the Kelp exploit would need to wait longer to see their funds recovered. This isn’t the first time the firm has attempted to claim stolen cryptocurrency.
Kelp DAO suffered a $292 million hack on April 18, which is believed to have been carried out by TraderTraitor, a subgroup of North Korea’s state-backed hacking unit, Lazarus Group.
Days later, Arbitrum Security Council took emergency action to freeze 30,766 Ether (ETH), worth over $73 million, held in a wallet linked to the Kelp exploit.

Charlie Gerstein, a lawyer for Gerstein Harrow, posted a restraining notice seeking to prevent the Arbitrum DAO from moving the frozen Ether. Source: Arbitrum DAO
Funds were proposed for Kelp victims
Aave Labs proposed on April 25 that the Arbitrum DAO unfreeze the $73 million in Ether tied to the Kelp DAO attack and direct those funds to “DeFi United,” a fund aimed at restoring rsETH and compensating its holders.
An Arbitrum DAO member under the handle Zeptimus said that if the law firm’s action is successful, the DPRK debt will be transferred to the Kelp DAO victims.
“Your clients’ losses are real and the DPRK should answer for them. But the remedy the restraining notice asks for, blocking the return of stolen funds to their actual owners shifts the cost of the DPRK’s debt onto a different set of victims who were themselves robbed. That compounds the original harm; it doesn’t redress it,” they said.
Gerstein Harrow filed similar claims before
Gerstein Harrow has filed similar cases in the past, arguing its clients have a claim to funds stolen by the DPRK and frozen by crypto firms. In February, the firm filed a claim against funds frozen by Tether that were stolen in the 2023 Heco Bridge hack.
Related: North Korean hackers used AI-enabled social engineering in Zerion attack
It has also filed class-action suits against multiple DAOs. At the same time, onchain sleuth ZachXBT accused the law firm of using his research in court documents to stake a claim on funds from the $1.5 billion Bybit hack.

The law firm has three live cases against DAOs on its website. Source: Gerstein Harrow
North Korea-affiliated actors have been accused of stealing at least $578 million across major incidents throughout April and have been linked to many of the industry’s largest hacks, including the Bybit exploit.
Magazine: DeFi’s billion-dollar secret: The insiders responsible for hacks
Crypto World
Bitcoin News: $80,000 Resistance Broken as Saylor Signals Strategy Buy Return
Bitcoin is back in the news headlines. It cleared $80,000 this morning, reaching $80,450 at the session high in its strongest price in three months, as equity markets pushed higher and spot demand accelerated sharply.
Spot CVD exploded 199.1% during the breakout, climbing from $18.3 million to $54.8 million. This means the current rally is a move driven by direct buying, not leveraged manipulation.
Simultaneously, Strategy, the largest corporate holder of Bitcoin with more than 800 BTC, appears to be exiting a self-imposed quiet period around its Q1 2026 earnings. Michael Saylor has issued public signs suggesting the firm is preparing to resume acquisitions, even above its average buying price.
Strategy’s Strategy
MicroStrategy paused buying activity last week, consistent with the blackout period that typically surrounds quarterly earnings. That pause is now closing. Saylor’s public posture since the earnings call has shifted institutional accumulation signals from the firm.
Strategy’s most recent large tranche was 34,164 BTC for $2.54 billion 2 weeks ago. Before that, a February 2026 purchase of 2,486 BTC at an average of $67,710 demonstrated the firm’s willingness to buy into both strength and weakness. It’s a masterclass in dollar-cost averaging.
When MSTR stock surged 13.83% to $169.54 intraday as Bitcoin broke $78,000 just weeks ago, it validated a well-established dynamic: MicroStrategy’s equity trades as a high-beta amplifier of BTC price structure and a confirmed Q1 purchase in the next SEC filing would likely reprice both.
Discover: The best crypto to diversify your portfolio with
Wall Street Backdrop: Equity News and Bitcoin Correlation
Bitcoin’s $80,000 reclaim didn’t happen in isolation. Equity markets posted gains on the same session, and BTC followed, rising in direct correlation with NASDAQ. Traditional fund managers increasingly treat Bitcoin as a high-velocity proxy for high-beta tech exposure, which means equity tailwinds amplify crypto momentum disproportionately on the way up.

The regulatory backdrop is adding durability to that institutional confidence. Progress toward Senate crypto clarity legislation has reduced one of the key compliance uncertainties that kept larger allocators on the sidelines.
Bitcoin ETF inflows and Federal Reserve policy updates in mid-May are the next macro variables. If inflows accelerate as BTC holds above $80,000, the case for a sustained move toward $90,000 stops looking like a target and becomes a timeline. It’s not if, it’s when.
Discover: The best pre-launch token sales
The post Bitcoin News: $80,000 Resistance Broken as Saylor Signals Strategy Buy Return appeared first on Cryptonews.
Crypto World
Morgan Stanley advises 2 Bitcoin exposure as demand grows
Morgan Stanley is advising clients to hold 2%–4% Bitcoin exposure as demand for regulated crypto products grows.
Summary
- Morgan Stanley recommends 2%–4% Bitcoin exposure as clients seek regulated access through new investment products.
- MSBT attracted over $100 million before adviser access, showing strong self-directed demand for Bitcoin exposure.
- Oldenburg said bank-held Bitcoin remains possible, but Fed, Basel, and global rules still slow adoption.
The guidance was shared by Amy Oldenburg, the bank’s head of digital asset strategy, during the Bitcoin Conference in Las Vegas.
Oldenburg said the bank sees client interest in Bitcoin products, but adoption through financial advisers remains slow. She said the issue is tied to education and awareness, not only demand.
Oldenburg also said Bitcoin could one day appear on U.S. bank balance sheets. However, she made clear that such a move is not close.
She pointed to Federal Reserve guidance, Basel capital rules, and global regulatory demands as key hurdles. “It’s not totally out of the question,” Oldenburg said, while adding that large banks still need more alignment across regulators.
MSBT draws early self-directed demand
Morgan Stanley has already moved further into digital assets through MSBT, its Bitcoin-backed exchange-traded product. The product drew more than $100 million in its first six days of trading.
Oldenburg said those early inflows came from self-directed clients. The product was not yet available through Morgan Stanley’s advisory platform, which showed a gap between client activity and adviser adoption.
Stablecoin fund adds another digital asset product
Morgan Stanley Investment Management also launched the Stablecoin Reserves Portfolio, a government money market fund for stablecoin issuers. The fund trades under the ticker MSNXX and went live on April 23.
The fund invests in cash, short-term U.S. Treasury bills and notes, and overnight repurchase agreements backed by Treasuries. It targets a stable $1.00 net asset value and daily liquidity.
The product is designed for stablecoin issuers that need to hold reserves in regulated assets. Crypto.news reported that the fund has a $10 million minimum investment, a 0.15% management fee, and a 0.20% net expense ratio after waivers.
Crypto World
Market Analysis: Gold Builds Momentum While WTI Crude Oil Faces Renewed Selling Pressure
Gold price is consolidating above the $2,565 support zone. Crude oil is showing bearish signs and might decline below $96.50.
Important Takeaways for Gold and WTI Crude Oil Prices Analysis Today
· Gold price started a recovery wave from $4,500 against the US Dollar.
· It cleared a key bearish trend line with resistance at $4,620 on the hourly chart of gold at FXOpen.
· Crude oil prices failed to clear the $108 region and started a fresh decline.
· There is a connecting bearish trend line forming with resistance at $100.45 on the hourly chart of XTI/USD at FXOpen.
Gold Price Technical Analysis
On the hourly chart of Gold at FXOpen, the price found bids near the $4,500 zone. The price remained in a bullish zone and started a recovery wave above $4,550.
There was a decent move above the 50-hour simple moving average and $4,600. The bulls pushed the price above the 50% Fib retracement level of the downward move from the $4,740 swing high to the $4,510 low.

Besides, the price cleared a key bearish trend line with resistance at $4,620. Immediate hurdle is near the 61.8% Fib retracement at $4,650.
The next key breakout level sits at $4,700. An upside break above $4,700 could send Gold price toward $4,740. Any more gains may perhaps set the pace for an increase toward $4,850.
Initial bid zone on the downside could be $4,600. The first major buy zone sits at $4,565. If there is a downside break below $4,565, the price might decline further. In the stated case, the price might drop toward $4,510. Any more losses might push the price toward the $4,420 level.
WTI Crude Oil Price Technical Analysis
On the hourly chart of WTI Crude Oil at FXOpen, the price struggled to clear the $108 barrier against the US Dollar. The price started a fresh decline below $105.
The price even dipped below $100 and the 50-hour simple moving average. The bulls are now active near $96.00. A low was formed at $96.04, and the price is now consolidating losses. If there is a fresh increase, it could face sellers near the 23.6% Fib retracement level of the downward move from the $107.62 swing high to the $96.04 low.

The first major hurdle for the bulls could be near a connecting bearish trend line at $100.45, above which the price could rise and test the 61.8% Fib retracement level at $103.20.
Any more gains might send the price toward $105.65. The main breakout zone sits at $108. Conversely, the price might continue to move down and revisit $96.00. The next major pivot zone on the WTI crude oil chart is $92.00.
If there is a downside break, the price might decline toward $90.00. Any more losses may perhaps open the doors for a move toward the $86.50 support zone.
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Crypto World
Jobs data, earnings calls: Crypto Week Ahead
Three tests land inside one week. The first is jobs data, with April payrolls print coming, the first read after a delay caused by the 2025 federal shutdown.
A weaker-than-expected print gives the Federal Reserve cover to cut sooner. A strong one delays it. The second is additional insight into the bitcoin treasury trade.
Strategy, Coinbase, MARA, CleanSpark, Hut 8 and Core Scientific all report Q1 earnings inside the week. Riot already sold 3,778 BTC last quarter at an average $76,626. MARA sold 15,133.
The third is the Fed itself. San Francisco Fed CEO and President Mary Daly and Chicago Fed President Austan Goolsbee speak on central bank independence at Hoover on Friday, the same week Jerome Powell exits his chair role (but not the Fed itself) under White House pressure.
“Investors aren’t heavily positioned and volatility remains low, creating an asymmetrical setup: markets appear stable on the surface but could react quickly to any catalyst that forces a repricing of risk,” Jennifer Hanny, a partner at Echo Base, told CoinDesk.
What to Watch
(All times ET)
- Crypto
- May 4: Coinbase to delist dai (DAI) and convert remaining tokens to USDS.
- May 4: ZKsync Lite to be fully deprecated.
- Macro
- May 4, 11:30 p.m.: Reserve Bank of Australia Interest Rate Decision est. 4.35% (Prev. 4.1%)
- May 5, 09:00 a.m.: U.S. JOLTs Job Openings for March(Prev. 6.882M)
- May 5, 09:00 a.m.: U.S. ISM Services PMI April est. 54 (Prev. 54)
- May 6, 4:00 a.m.: Euro Area Producer Price Index YoY for March (Prev. -3%); MoM (Prev. -0.7%)
- May 6, 07:15 a.m.: U.S. ADP Employment Change for April (Prev. 62K)
- May 6, 06:50 p.m.: Bank of Japan Monetary Policy Meeting Minutes
- May 7, 07:30 a.m.: U.S. Initial Jobless Claims for period ending May 2 (Prev. 189K)
- May 7, 03:30 p.m.: U.S. Fed Balance Sheet for period ending May 6 (Prev. $6.700T)
- May 8, 7:30 a.m.: Canada Unemployment Rate for April (Prev. 6.7%)
- May 8, 07:30 a.m.: U.S. Non Farm Payrolls for April est. 73K (Prev. 178K)
- May 8, 07:30 a.m.: U.S. Unemployment Rate for April est. 4.3% (Prev. 4.3%)
- May 8, 07:30 a.m.: U.S. Average Hourly Earnings MoM for April est. 0.3% (Prev. 0.2%); YoY (Prev. 3.5%)
- May 8, 09:00 a.m.: U.S. Michigan Consumer Sentiment Prel for May (Prev. 49.8)
- May 8, 06:30 p.m.: U.S. Fed Presidents Mary Daly and Austan Goolsbee to participate in a conference on “Independence, Structure, and Risks Ahead for Central Banks”
- Earnings (Estimates based on FactSet data)
- May 5: Strategy (MSTR), post-market, -$12.95
- May 5: PayPal Holdings (PYPL), pre-market, $1.27
- May 5: Cipher Digital (CIFR), pre-market, -$0.08
- May 5: MARA Holdings (MARA), post-market, -$0.45
- May 6: Hut 8 (HUT), pre-market, -$0.34
- May 6: Core Scientific (CORZ), post-market, -$0.04
- May 7: Coinbase Global (COIN), post-market, $0.26
- May 7: Block (XYZ), post-market, $0.60
- May 8: TeraWulf (WULF), pre-market, -$0.19
- May 8: CleanSpark (CLSK), post-market, -$0.23
Token Events
- Governance votes & calls
- Lido DAO is voting on a time-sensitive proposal to temporarily lower the EarnETH first-loss protection trigger to below the standard 1% threshold, ensuring full compensation for users if the rsETH shortfall is resolved via DeFi United. Voting ends May 6.
- Beefy DAO is voting to authorize its Treasury Council to conduct private, discretionary BIFI buybacks whenever the token’s price falls below its calculated “fair value.” Repurchased tokens will be held as non-circulating supply. Voting ends May 6.
- World Liberty Financial is voting to restructure vesting for locked WLFI tokens. Early supporters will receive a 4-year vesting schedule, while insiders must burn 10% of their allocation and accept a 5-year vest. Voting ends May 6.
- Arbitrum DAO is voting to release 30,766 ETH frozen by its Security Council after the Kelp DAO exploit to the DeFi United recovery fund. Voting ends May 7.
- CoW DAO is voting on whether to use its Legal Defense Reserve to reimburse users who lost $1.2 million in the April 14 cow.fi domain hijack. Voting ends May 7.
- Mantle DAO is voting to lend up to 30,000 ETH to Aave as a structured 36-month credit facility, benchmarked to Lido’s stETH staking return plus a 1% spread, as part of the DeFi United rsETH recovery. Voting ends May 8.
- Unlocks
- May 5: Ethena (ENA) to unlock 2.12% of its circulating supply worth $17.34 million.
- May 6: Hyperliquid (HYPE) to unlock 0.18% of its circulating supply worth $17.5 million.
- Token Launches
- May 5: Virtual Protocols’ OPG airdrop snapshot expected to take place.
- May 8: SoSoValue’s final testnet airdrop expected to complete.
- May 4-10: BNB’s 35th quarterly burn expected to occur.
Conferences
Crypto World
Will Ethereum price break past $2,400 resistance as bullish MACD crossover approaches?
Ethereum price is eyeing a breakout from the $2,400 resistance, which has capped the token’s gains over the past week.
Summary
- Ethereum price is testing the $2,400 resistance after rebounding to $2,393, with repeated rejections keeping its price within a tight range.
- Technical indicators signal potential upside, with a looming MACD bullish crossover and Supertrend remaining in an uptrend since mid-March.
- ETF inflows ($101M) and declining exchange reserves (14.5M ETH, lowest since 2016) point to improving demand and reduced sell pressure.
According to data from crypto.news, Ethereum (ETH) price rebounded 3.5% to $2,393 on May 4 before facing rejection at $2,400 and stabilizing around $2,370 at press time. While Ethereum has briefly broken above the $2,400 mark on two occasions over the past month, the altcoin lost momentum and quickly retraced below the level.
However, at press time, several technical and fundamental factors suggest that the token could finally escape from the narrow trading range.
Notably, on the daily chart, Ethereum price is approaching a bullish MACD crossover, which typically signals a shift toward upward momentum. The last time such a positive crossover occurred, Ethereum price rose nearly 25% within a month.

The Supertrend has remained green since mid-March, a sign that the broader market structure remains in an uptrend despite recent price fluctuations.
At press time, Ethereum price was near the 61.8% fibonacci retracement level at $2,381, a sign that bulls are aggressively defending the mid-range zone. A decisive break above the current resistance could trigger a breakout from the $2,400 and a move towards the next key 38.2% retracement level at $2,772 if bullish momentum holds.
Besides strong technical signals, on-chain demand also seems to support a potential rally. Data from SoSoValue show that Ethereum ETFs recorded over $100 million in net inflows last Friday, breaking off a 4-day negative streak, which saw $183 million in outflows.
While this is not yet a sign that institutional investors will go all in immediately, it shows renewed appetite for the asset, especially if the positive flows continue to show up this week.
Another catalyst that could support Ethereum’s gains is the drop in ETH balances on exchanges. Per data from CryptoQuant, Ethereum exchange reserves have fallen to 14.5 million, the lowest level since mid-2016, indicating reduced selling pressure on the token.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Crypto World
Bitcoin Rallies to $80K, Highest Price Since January
Bitcoin breached $80,000 on Monday, rising 2.7% over a three-hour span as Asian equities began trading, marking its highest price since Jan. 31, 2026.
The Bitcoin rally began at 1:25 am UTC, rising from $78,415 to break the $80,000 level about 75 minutes later before climbing to $80,515 by 4:20 am UTC, according to TradingView data.

Bitcoin’s price change on Coinbase on Monday. Source: TradingView
The rally coincided with a 2.3% rise in the MSCI AC Asia Index to 245.2 on Monday morning, breaking its previous high of 243.6 on Feb. 22, about a week before the US-Iran war began.
A rise in the MSCI AC Asia Index at the start of the week generally reflects positive global risk sentiment in response to weekend developments, though it doesn’t necessarily mean that US equities will follow suit.
Ether (ETH), XRP (XRP) and BNB (BNB) also rallied and are up 3.9%, 2.4% and 3.3% over the last 24 hours, at the time of writing.
The price rise also comes as crypto momentum has been building in Washington, where members of the banking and crypto industries reached a compromise on stablecoin yield provisions in the CLARITY Act, with a Senate markup expected this month.
The US-based spot Bitcoin exchange-traded funds have also seen net inflows in 11 of the past 14 trading days, indicating that institutional demand remains strong.
Friday’s inflow of $629.8 million also marked the US Bitcoin ETF industry’s strongest day in two weeks.
Bitcoin up nearly 30% from 2026 low
Bitcoin’s climb back to $80,000 marks a nearly 30% recovery from its 2026 low of about $62,000 reached on Feb. 5, and several industry observers said there is a path for Bitcoin to reach $100,000.
Related: Strategy takes Bitcoin buying breather ahead of Q1 earnings report
One of them is MN Trading Capital founder Michael van de Poppe, who said Friday that Bitcoin does not need a fresh narrative to return to the $100,000 mark:
“There doesn’t need to be a narrative that pushes the price upwards,” he said, stating that as the price moves upwards, “the narrative will create itself.”
The crypto industry is also watching the US Bitcoin Reserve after White House crypto adviser Patrick Witt said at the Bitcoin Conference in Las Vegas last week that a “big announcement” on President Donald Trump’s Bitcoin reserve is coming in the next few weeks.
Magazine: Adam Back says current demand is ‘almost’ enough to send Bitcoin to $1M
Crypto World
Bitcoin (BTC) Price Forecast: Legendary Trader Projects $250K Target While Warning of Extended Consolidation
Key Takeaways
- Legendary commodities trader Peter Brandt projects Bitcoin reaching $250,000 by the end of 2029.
- Brandt anticipates an extended consolidation period that may continue through September or October 2026.
- Bitcoin has already rebounded more than 25% from its February trough around $60,000.
- The projection relies on analyzing Bitcoin’s recurring four-year halving cycle patterns.
- Brandt maintains flexibility, stating he’ll adjust his thesis if market behavior deviates from historical patterns.
Peter Brandt, a commodities trading veteran with nearly fifty years of market experience, has unveiled a comprehensive price trajectory for Bitcoin. His ultimate target stands at $250,000 by the close of 2029. However, he emphasizes that the cryptocurrency market faces considerable consolidation before initiating that major upward move.

According to Brandt’s assessment, Bitcoin is presently navigating through a bottoming formation that could persist until September or October 2026. This extended timeframe isn’t speculation. It’s derived from careful examination of Bitcoin’s four-year halving cycle, a pattern that has demonstrated remarkable consistency throughout the cryptocurrency’s history.
In April 2024, Bitcoin underwent its scheduled halving event — reducing the mining reward from 6.25 BTC to 3.125 BTC per block. Historical data shows that bull market peaks typically emerge approximately 16 to 18 months following each halving event. Based on this framework, the most recent cycle peak occurred around October 2025, when Bitcoin reached approximately $126,000.
Understanding the Four-Year Cycle Structure
After reaching that peak, Brandt anticipates a bear market phase spanning roughly twelve months. This timeline would position a market bottom somewhere in the autumn of 2026. Subsequently, a fresh uptrend would develop heading into the April 2028 halving, potentially culminating at $250,000 during late 2029.
“I am not calling for a low until Sep/Oct 2026,” Brandt explained to CoinDesk. “It is not necessary for the recent low to be penetrated. We could get a rally and then chop sideways to down. Worst case would be a move back into the lower green banana peel which would be into the 50s, maybe high 40s. Then blast off for $250k and a high in late 2029.”
This analysis suggests Bitcoin may trade within a range of approximately $47,000 to $80,000 for over a year before any substantial bullish momentum develops.
This perspective contrasts with many cryptocurrency analysts who believe the bear market concluded in February when Bitcoin established a floor near $60,000. Since that low point, BTC has surged over 25%, trading around $80,300 in early May 2026.
A Non-Dogmatic Forecasting Philosophy
What distinguishes Brandt from numerous market forecasters is his transparent commitment to revising his outlook when circumstances warrant. “As long as the market follows the script I will stay with my projections. If at some point the price discovery moves off script I will be forced to revise all my thinking. I will NOT be dogmatic about it,” he stated.
This adaptive methodology represents a refreshing contrast in an environment where many analysts remain stubbornly attached to failed predictions.
Currently, Bitcoin is trading near $79,740, remaining considerably below its 2025 all-time high.
Crypto World
Coinbase urges CFTC to keep prediction markets under rules
Coinbase has urged U.S. derivatives regulators to keep prediction markets under existing rules, filing a formal response as legal pressure builds around event-based contracts.
Summary
- Coinbase has submitted a letter to the Commodity Futures Trading Commission arguing that prediction markets fall within existing regulatory authority.
- Chief Policy Officer Faryar Shirzad said event-based contracts resemble traditional futures and called for a principles-based framework.
According to a letter submitted to the Commodity Futures Trading Commission and addressed to Secretary Christopher Kirkpatrick on April 30, Coinbase responded to the agency’s Advance Notice of Proposed Rulemaking on prediction markets, arguing that such products already fit within current statutory authority.
In the filing, Coinbase described prediction markets as “one of the most dynamic areas of derivatives markets,” while stating that no new legislative mandate is required to oversee them under existing frameworks. Chief Policy Officer Faryar Shirzad signed the letter and called on regulators to preserve a principles-based approach that prioritises market integrity.
Shirzad told the press that event-based contracts are not a new concept and compared them to traditional futures, explaining that both mechanisms aggregate dispersed information into pricing signals. Coinbase’s submission also asked the CFTC to clarify how it intends to exercise its authority to block contracts deemed against the public interest.
Coinbase said in the letter that consistent safeguards should apply to all users, whether they trade directly on platforms or through intermediaries, adding that regulatory clarity would help maintain trust as participation expands.
The filing comes as disputes over event contracts continue to surface at the state level, including a lawsuit in Wisconsin that has added urgency to the regulatory debate. Coinbase’s position places it among firms seeking federal clarity at a time when jurisdiction between state authorities and federal regulators remains contested.
Earlier, Shirzad addressed a separate policy issue tied to stablecoin rewards during negotiations around the CLARITY Act, telling Reuters that revised language preserved “what matters” for crypto platforms while introducing limits on rewards that resemble bank interest. Senators Thom Tillis and Angela Alsobrooks negotiated that compromise, which restricts deposit-like yields while allowing activity-based incentives tied to platform use.
With the Senate Banking Committee targeting a markup of the CLARITY Act in the week of May 11, Coinbase’s latest filing on prediction markets adds to its ongoing engagement with U.S. policymakers across multiple areas of crypto regulation.
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