On Wednesday (April 30), Bitcoin saw a slight decline amid the chaos of trade war negotiations, but bulls remained above 94,000 USD. Under Trump’s DJT Group, the Truth Social utility token is set to be launched as part of a rewards program. Tether has minted 2 billion USDT stablecoins, signaling increased demand in the market.
Trump: DJT prepares to issue a coin, TRUMP dinner gifts a watch, USD1 market cap breaks 1 billion
According to CoinDesk, Trump’s DJT Group stated in a letter to shareholders on Tuesday: 'As part of our rewards program, we are exploring the introduction of a utility token in the Truth digital wallet, initially for paying Truth subscription fees and later for other products and services in the Truth ecosystem.'
The letter reiterates that the company is also considering launching an ETF that combines stocks with cryptocurrencies. Over the years, Trump's team has released a series of crypto products, including meme coins, NFT digital collectibles, and decentralized finance (DeFi) protocols.
Trump is also preparing to host a dinner for holders of a large amount of the official TRUMP meme coin, who will have the opportunity to meet the President of the United States. As Trump empowers the TRUMP token, the US Congress has raised serious questions, believing this meets the criteria for impeachment.
According to official news, the top four holders attending the TRUMP dinner will receive Trump Tourbillon watches. Each watch is numbered, with only 147 pieces issued worldwide. The watch owned by President Trump is number 1.
In addition to the bullish news of DJT Group preparing to issue a coin and the TRUMP meme coin dinner, the Trump family’s World Liberty Financial (WLFI) is also brewing a new dollar situation, namely the USD1 stablecoin.
According to CryptoSlate, the stablecoin USD1 of WLFI has surpassed a market cap of 1 billion USD on the BNB Chain. On-chain data shows that USD1 has seen three rapid minting events, with hundreds of millions of USD1 having been minted on the BNB Chain.
Including existing supply on Ethereum, the total market cap of USD1 has now exceeded 1.02 billion USD. Analysts believe this move may be part of a broader promotional strategy aimed at expanding USD1's influence in DeFi protocols, cross-chain liquidity pools, and trading platforms.
Tether adds 2 billion USDT minted, bullish signals emerge
According to WhaleAlert monitoring, Tether has minted an additional 1 billion USDT on the Ethereum chain, bringing the total to 2 billion USDT minted in a single day.
Tether CEO Paolo Ardoino stated that the newly minted USDT is a replenishment of inventory. This is an authorized but unissued transaction, meaning that this amount will be used for the next issuance request and chain swaps.
Macroeconomics: US JOLTS drives Bitcoin up
The March US Job Openings and Labor Turnover Survey (JOLTS) report showed that the number of job openings dropped sharply from 7.57 million in February to 7.19 million, below the expected 7.48 million.
Weaker-than-expected JOLTS data indicates that the labor market is cooling, intensifying expectations for a Fed rate cut, which would lead to a weaker dollar and boost risk assets like Bitcoin. Conversely, stronger-than-expected data suggests a robust economy, which could delay rate cuts and put pressure on cryptocurrency prices.
As federal layoffs peaked in 2020, market expectations have slightly leaned towards a dovish tone. Economist and Bitcoin commentator Alex Kruger believes that JOLTS data is a short-term positive for Bitcoin, as it is expected to benefit from tariff de-escalation after Trump’s 90-day pause (ending July 8).
In the article, the analyst predicts that the market may focus on the earnings guidance of companies like Caterpillar and tech stocks, while also paying attention to next week's Federal Open Market Committee (FOMC) meeting, where Fed Chairman Powell may hint at early rate cuts.
Kruger warns that the economic slowdown in the third quarter may lead to market volatility, but he also stated that Bitcoin's unique risk-return profile will outperform altcoins, as analysts point out that altcoins have been overbought.
Bitcoin outlook: Still in the undervalued zone?
According to Fidelity Asset, Bitcoin's mid-term outlook has fallen into the 'optimistic' zone, as the investment firm points out that Bitcoin is trending towards being 'undervalued.'
As evidence, the company cited the 'Bitcoin Standard' metric, which measures Bitcoin's market cap divided by its hash rate. A lower ratio indicates that Bitcoin is 'cheaper' relative to its network's energy security.
In the first quarter of 2025, the metric remained between -1 to 3 standard deviations, cooling from the overheating levels of the fourth quarter of 2024. The number of days exceeding 2 standard deviations dropped from 22 days to 15 days, with no days exceeding 3, indicating that Bitcoin's price is lower relative to its network strength.
The investment firm mentioned that Bitcoin is in an 'acceleration phase,' making new highs not uncommon, but they warned that a crash could occur.
The illiquid supply rose from 61.50% to 63.49%, while the liquid supply fell by 4%, indicating an increased willingness among holders for long-term positions. The illiquid supply shock ratio is currently 16% lower than its peak in 2017.
In line with this view, Cointelegraph reports that BlackRock's iShares Bitcoin Trust (IBIT) ETF recorded a massive inflow of 970.9 million USD on April 28, 2025, marking the second-largest single-day inflow since its launch in January 2024.
Since April 22, IBIT has seen a net inflow of over 4.5 billion USD, contrasting sharply with competitors like Fidelity's FBTC and ARK's ARKB, which have faced capital outflows. IBIT manages over 54 billion USD in assets, capturing 51% of the US spot Bitcoin ETF market.
