● Grayscale Research Director: Bitcoin's market share may stabilize rather than drop sharply
According to BlockBeats, Grayscale Research Director Zach Pandl stated that when the market focuses on macroeconomic instability and the risks facing the dollar, Bitcoin's dominance may rise; conversely, when the market focuses on various applications of blockchain technology and innovations in the crypto space, Bitcoin's dominance may decline. Bitcoin benefits from being viewed as a 'non-sovereign asset' similar to gold and has absorbed much of the inflow into the crypto market through products like last year's approved ETFs. In the next approximately 9 to 12 months, Bitcoin's market share is more likely to stabilize between 60% to 70% of the overall crypto market rather than experience a significant decline.
This judgment is not easy, as Bitcoin and altcoins each have different positive factors that may play a role. From a macro perspective, we hold a bullish view on Bitcoin; from the perspective of technological development and user adoption, we are also optimistic about altcoins. My basic assumption is that Bitcoin's dominance will stabilize from the current level.
● Moody's downgrades US credit rating to Aa1 due to rising debt
According to Deep Tide TechFlow, credit rating agency Moody's has downgraded the U.S. government's credit rating from the highest level of Aaa to Aa1, mainly due to the continuous rise in national debt. Moody's pointed out in its announcement on May 16 that U.S. lawmakers have failed to curb the annual deficit or reduce spending, leading to a continuous increase in national debt. Moody's stated: "We believe the current proposed fiscal measures will not lead to a substantial reduction in mandatory spending and deficits over the years. In the next decade, as welfare spending increases and government revenues remain basically unchanged, we expect the deficit to widen."
Despite the negative short- to medium-term credit outlook, Moody's remains positive about the long-term economic health of the U.S., stating that its strong economy and the dollar's status as a global reserve currency are advantages that reflect balanced lending risks.
● Trump says the Federal Reserve should cut interest rates soon
According to Deep Tide TechFlow, on May 17, U.S. President Trump stated on social media that almost everyone believes the Federal Reserve should cut interest rates soon. Trump criticized Powell for acting slowly and possibly missing another opportunity.
● UK crypto asset companies must report user and transaction data from 2026
According to Wu said, the UK tax authorities have announced that from January 1, 2026, crypto asset companies operating in the UK must comprehensively report user and transaction data, following the Global Crypto Asset Reporting Framework (CARF). This move aims to combat tax evasion and enhance transparency. Platforms must record user identity, address, tax identification number, and details of each transaction, including transactions involving users from the UK or other CARF countries. Foreign companies serving UK clients must also comply, with violators facing fines of up to £300 per user.
● Galaxy CEO predicts Bitcoin price will reach $130,000 to $150,000
According to Odaily Planet Daily, Galaxy CEO Mike Novogratz stated in an interview with CNBC that the market value of gold is about $22 trillion, while Bitcoin's market value is only $2 trillion. Therefore, Bitcoin's price in the next phase may be between $130,000 and $150,000, as it is still in the price discovery phase.
● CryptoQuant: Indicators show ETH may outperform BTC in the future, altcoin season may arrive soon
According to Jinse Finance, a new report from CryptoQuant states that ETH has quietly fallen to a historically rare range, as a market signal shows that ETH is significantly undervalued compared to BTC. This signal comes from Ethereum's ETH/BTC market value to realized value (MVRV) ratio, a relative valuation metric used to measure market sentiment and historical trading patterns. Historically, whenever this indicator reaches similar low levels, ETH has achieved significant gains and greatly outperformed BTC.
CryptoQuant believes that investors seem to have noticed this. As demand for ETH ETFs has surged, the holding ratio of ETH/BTC ETFs has significantly increased since the end of April. This shift in allocation indicates that institutional investors expect ETH to outperform BTC, possibly driven by the recent Pectra upgrade or a more favorable macroeconomic environment. CryptoQuant believes that the current ETH/BTC price ratio has rebounded significantly, suggesting that investors and traders are betting that the market has bottomed out, and an 'altcoin season' may arrive soon.
● Analysts: Bears cautious when building positions, which may be a bullish signal
According to Deep Tide TechFlow, CryptoQuant analyst Axel Adler Jr. stated that compared to the 2021 bull market, short-sellers are more cautious when establishing short positions in the current bull market cycle. During the pullback when Bitcoin's price reached $80,000, there was only one significant instance of long liquidations. The analyst pointed out that this shift in sentiment indicates that short-sellers have become more risk-averse, which is typically viewed as a bullish signal.
