Bitcoin Surges Past $100,000: Bitcoin hit $101,679.85, its highest level since February, driven by optimism over a U.S.-UK trade agreement and a pro-crypto stance from the Trump administration. Spot Bitcoin ETF inflows and its outperformance against U.S. equity benchmarks underline its growing safe-haven status amid trade war concerns. However, analysts suggest it may remain range-bound between $70,000 and $109,350 unless it breaks its January high.
- Coinbase Acquires Deribit: Coinbase, the largest U.S. crypto exchange, announced a $2.9 billion acquisition of Deribit, a leading crypto derivatives platform, on May 8. This move aims to bolster Coinbase’s derivatives offerings and global presence.
- Robinhood’s European Expansion: Robinhood, preparing to enter the EU market, acquired a Lithuanian brokerage license in April 2025 and purchased crypto exchange Bitstamp in 2024, signaling its intent to compete in the European crypto space.
- Arizona’s Bitcoin Reserve Fund: On May 7, Arizona Governor Katie Hobbs signed a bill allowing the state to hold unclaimed crypto in a “Bitcoin and Digital Assets Reserve Fund” after three years, a first-of-its-kind state-level initiative.
- Trump’s Crypto Ventures Stir Controversy: Senate Democrats, led by Elizabeth Warren, are pushing back against a bipartisan crypto regulation bill (GENIUS Act) due to concerns over Trump family ties to crypto, particularly a $2 billion stablecoin deal with World Liberty Financial and Binance. Some Democrats walked out of a related hearing, citing conflicts of interest.
- David Bailey’s Bitcoin Investment Firm: Trump crypto advisor David Bailey raised $300 million to launch a publicly traded Bitcoin investment company, aiming for “blue-chip credibility with startup upside.”
- Ethereum’s Pectra Upgrade: Ethereum’s latest upgrade, launched May 7, aims to reduce transaction costs and network traffic but is seen as unlikely to significantly boost ETH’s price in the short term.
- XRP’s Decline: XRP dropped to $2.08, down 7% over five days, due to bearish technical patterns, declining network activity, and regulatory uncertainties. Analysts see potential for recovery if it breaks resistance at $2.26, supported by a pro-crypto SEC shift.
- Crypto Market Trends: The global crypto market cap stands at $3.09 trillion. Bitcoin, Ethereum ($220.63 billion market cap), and Tether ($149.41 billion) lead by market cap. Altcoins like Solana, BNB, Dogecoin, and Chainlink are gaining traction, but Ethereum dipped slightly, and XRP pulled back after recent highs.
- Security Concerns: French police rescued a crypto entrepreneur’s father from kidnappers, marking the second crypto-related ransom case in France this year, highlighting rising security risks in the sector.$BTC #BTCBackto100K #CryptoComeback 
