News summary for May 6, 2025 #NewsAboutCrypto
📌Bitcoin (BTC):$BTC
- Bitcoin's price fluctuates around $94,000 due to concerns about tariffs and the macroeconomic situation.
- Bitcoin miners continue to sell.
- Former CEO of Binance, Changpeng Zhao (CZ), predicts Bitcoin could reach a price range of $500,000 to $1 million in this cycle.
- MicroStrategy continues to purchase an additional 1,895 BTC, bringing the total holdings to 555,450 BTC.
📌 Ethereum (ETH):
- The price of Ethereum is currently around $1,770.
- Many analysts predict ETH will continue its upward trend in the next 12-14 months, potentially reaching $7,223 - $8,232 by the end of 2025. However, there are also predictions that the price could drop to $2,691.
- The competition between Ethereum and other blockchains like Solana continues to drive innovation.
- Bitwise has filed to establish a spot ETF fund for NEAR, a competitor of Ethereum.
📌Other news:
- The price of Pi Network has slightly decreased to $0.59, going against the overall trend of the cryptocurrency market. Many initial Pi miners felt disappointed when the price dropped after listing.
- Mr. Donald Trump is preparing to raise millions of USD from cryptocurrency and meme coins this month. The digital coin named after him "$TRUMP" has experienced significant price volatility.
- The Web3 gaming project Treasure DAO announced it will cease operations on its own blockchain, Treasure Chain, on May 30, 2025.