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BTC

The 'BTC Strategic Reserve' Proposal Vetoed, Bitcoin Price Drops to US$96,000
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The price of Bitcoin fell in trading on Saturday (5/3). The price of the cryptocurrency plummeted to US$96,000. This is not unrelated to the rejection of crypto-based public funding in Arizona, United States (US).

Arizona Governor, Katie Hobbs, vetoed Senate Bill 1025: Arizona Strategic Bitcoin Reserve Act. She stated that the reason for the veto was to uphold conservative principles in managing the state's pension funds.

“Today I vetoed Senate Bill 1025. The pension funds of Arizona residents are not a place to experiment with untested investments like virtual currency,” wrote Hobbs, as reported on Sunday (5/4).

The proposed regulation was initially seen as having the potential to revolutionize the investment strategy of the state's pension fund by allowing the purchase of Bitcoin and other cryptocurrencies.
It would enable public funds, including the state pension system, to allocate up to 10% of their portfolio to digital assets.

This rejection has triggered a strong reaction from the crypto community, which views it as a missed golden opportunity for Arizona to lead innovation in the digital asset sector.

Hobbs' veto is in line with the principle of caution in public investments, and the debate about the position of crypto in national finance is still far from over.
$BTC #StrategicBTCReserve

European Union Leads Crackdown on Crypto Anonymity
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The European Union has adopted a ban on the anonymity of cryptocurrencies and accounts as its members seek to prevent crypto from providing protection for illegal operations. This regulation will now force crypto service providers to rebuild their systems while enforcing strict Know Your Customer (KYC) requirements for compliance purposes.$BTC #EUPrivacyCoinBan

AMLA: New Crypto Regulatory Authority
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To enforce this change, the EU established the Anti-Money Laundering Authority (AMLA) as a new law enforcement body to regulate this change. AMLA is responsible for overseeing around 40 regulated crypto service providers that operate with six or more EU member states. Based on AMLA's legal authority, these companies must have 20,000 registered users or exceed 50 million euros in annual transactions.#EUPrivacyCoinBan

Privacy Coins Prohibited, Transaction Monitoring Tightened
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The establishment of new privacy regulations aims to restrict transactions involving the cryptocurrencies Monero (XMR), Zcash (ZEC), and Dash. The EU will ban all cryptocurrencies that aim to provide transaction anonymity from operating within its territory. Regulators claim that these coins enable users to carry out hidden criminal operations and money laundering schemes easily. The new regulatory framework imposes strict management requirements, where transactions exceeding 1,000 euros will require thorough identity verification of participants, including both senders and receivers. By adopting this measure, traditional banking standards can be better applied to the crypto transaction process.$BTC #EUPrivacyCoinBan

Strict New Crypto Regulations in the European Union: Privacy Coins, Anonymous Accounts Banned by 2027
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Europe is adopting strict anti-money laundering standards that prohibit privacy coins and the operation of anonymous crypto accounts starting July 1, 2027. Crypto asset service providers (CASP) including exchanges and financial institutions must ensure they collect customer identification data (KYC) for all users or cease offering those services in the EU.
$BTC #EUPrivacyCoinBan

Fidelity Global Macro Director: Bitcoin May Surpass Gold Dominance Anytime
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The Global Macro Director at Fidelity Investments recently published an article analyzing the dynamic relationship between Bitcoin and gold. Timmer referred to data from Fidelity Management & Research Company (FMR Co) and Bloomberg, examining the changing trends in the Sharpe ratio (a measure of risk-adjusted returns) of both assets, and noted that their relative performance may be at a turning point. Timmer stated: "Ironically, there is a negative correlation between gold and Bitcoin. As shown in the chart below, the Sharpe ratio of these two assets has recently alternated in leading... It seems that Bitcoin may lead next, as the current Sharpe ratio is -0.40, compared to gold's 1.33. Therefore, we may witness the baton being passed from gold to Bitcoin." The chart shared by Timmer shows that the recent return for gold is $22.51, while Bitcoin is $13.22, with gold's return magnified 4 times to reflect its lower volatility, while Bitcoin's return remains unadjusted at 1 time.
$BTC

Michael Saylor Returns to Release Bitcoin Tracking Information, May Reveal Additional Ownership Data Next Week
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Michael Saylor, Chairman of the Strategy Board (formerly MicroStrategy), once again shared information about the Bitcoin Tracker on platform X, stating: "Too much blue, not enough orange." According to previous patterns, Strategy always reveals information about the increase in its Bitcoin holdings the day after such announcements.
(Note: Each time Strategy increases its Bitcoin holdings, an orange dot is marked on the chart at the corresponding time point.)
$BTC #SaylorBTCPurchase

Michael Saylor Returns to Release Bitcoin Tracker Information, Possibly Indicating More BTC Purchases
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Strategy founder Michael Saylor once again released information related to the Bitcoin Tracker, stating: "The number of these orange dots is not enough."

Historically, Strategy has always revealed additional Bitcoin purchases the day after the information was released.$BTC
#SaylorBTCPurchase

BTC

WHAT ABOUT MAY THIS YEAR?$ETH

Quoted from Luno research, Sunday (4/5/2025) there are several important events in May that crypto investors should pay attention to.

PECTRA ETHEREUM UPGRADE MAY 7
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Pectra combines two previous upgrades, Prague for the execution layer and Elektra in the consensus layer. The Pectra upgrade aims to improve efficiency, scalability, and the overall functionality of Ethereum. This has the potential to boost market confidence by promoting adoption and utility.

THE FED INTEREST RATE DECISION MAY 7
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President Trump has pressured the US central bank to lower interest rates, even threatening to fire Fed Chair Jerome Powell. Trump views interest rates as a way to mitigate the economic slowdown caused by his new tariff policies, which would increase consumer costs and hinder global trade.

Traditionally, investors tend to respond positively to interest rate cuts. However, another factor this month is the threat of Powell’s dismissal, which seemed to be negatively received by the market in April.

If interest rates remain unchanged, market sentiment is likely to remain relatively unchanged as well.

US INFLATION FIGURES MAY 13
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US inflation data could provide investors with insights into the progress in tackling inflation – especially in the current situation, where inflation is expected to be one of the main consequences of tariffs. The Fed is also considering this data when making decisions regarding monetary policy.

“SHIP OR DIE” EVENT SOLANA MAY 22
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The “Ship or Die” event in New York will highlight innovations within the Solana ecosystem. New products and collaborations could drive Solana's growth, increase investor interest, raise SOL prices, and strengthen Solana's position as a leading smart contract platform.

$BTC Important Events in May 2025 That Crypto Investors Should Pay Attention To
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The crypto industry remains highly volatile in April 2025. The policies implemented by the President of the United States (US) Donald Trump, which are very bombastic, have become the controlling factor for the movement of crypto assets in April 2025.

New tariffs were announced and then suspended, the market dropped and then rose again. Bitcoin started the month at around USD 83,000 or approximately IDR 1.38 billion and then dropped to a low of USD 75,000 or around IDR 1.25 billion on April 9 due to the US-China tariff war.

Bitcoin then established this level as resistance and gradually rose back to the month's initial level of USD 83,000.

83,000 or approximately IDR 1.38 billion and then dropped to a low of USD 75,000 or around IDR 1.25 billion on April 9 due to the US-China tariff war.

Bitcoin then established this level as resistance and gradually rose back to the month's initial level of USD 83,000.

Significant movement occurred over the Easter holiday weekend when Bitcoin broke through USD 90,000 for the first time since early March, and has remained stable in the range of USD 93,000 to this day.

The altcoin market has not recovered as quickly as Bitcoin, but generally still follows a similar movement pattern, which is a decline in the middle of the month and a gradual recovery.

Supply Shrinks and Demand Soars, Bitcoin Could Reach Rp 39.7 Billion
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CEO of Ark Invest, Cathie Wood, is back in the spotlight after making a staggering prediction regarding the future of Bitcoin. She estimates that the price of Bitcoin could soar to USD 2.4 million or equivalent to Rp 39.7 billion (assuming an exchange rate of Rp 16,574 per coin in 2030, indicating a potential increase of about 2,426% from the current price level.

According to Yahoo Finance, Friday (2/5/2025), this prediction seems very ambitious, especially considering that Bitcoin is currently still struggling to reach the USD 100,000 mark. However, Cathie Wood has her own approach to projecting the price of the world's number one cryptocurrency.

Ark Invest uses an approach called the building block valuation model to assess Bitcoin's growth potential. In this model, Cathie Wood highlights six key sectors that show signs of adoption and growth for Bitcoin.

She then estimates the performance of each sector over the next five years and sums them up to create an overall valuation estimate for Bitcoin.

$BTC

Fidelity: It's Time for Gold to Pass the Baton to Bitcoin
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Fidelity Macro Director Jurrien Timmer believes that it may be Bitcoin's turn to take the lead. The Fidelity executive believes that gold may pass the baton to its digital rival in the near future based on the Sharpe ratios of the two assets.
Quoted from U.Today, Sunday (4/5/2025), Bitcoin's Sharpe ratio is currently at -0.40, which means that gold has actually provided a lower return than the risk-free rate. At the same time, gold, which has a Sharpe ratio of 1.33, has significantly outperformed Bitcoin while exposing its investors to a lower level of risk.
The Sharpe ratio is a measure of risk-adjusted investment performance. The formula is the difference between the investment return and the risk-free return, divided by the standard deviation of the investment return.
The Sharpe ratio helps investors see how much return they get for every unit of risk taken.

The leading cryptocurrency is down 17% against gold this year, with the latter benefiting from the economic turmoil caused by US President Donald Trump’s tariff war.

Bitcoin previously approached $98,000 on the Bitstamp exchange, hitting its highest level since late February.

Timmer believes that investors should own both gold and Bitcoin. He believes that investors should own both assets in a 4:1 gold-to-Bitcoin ratio.

However, according to the Fidelity executive, Bitcoin is a little different because it can act as both hard money and a speculative asset.

“Bitcoin is a little different from gold, because it has a Dr Jekyll & Mr Hyde personality where you never know which Bitcoin is going to show up at the party,” he said.

$BTC

Former PayPal Boss Makes Epic Prediction About Bitcoin's Function
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David Marcus, former president of PayPal and now CEO of Lightspark, stated that Bitcoin (BTC) is on the right track to become a major player in everyday transactions, and not just as an asset that can store wealth.
Speaking in an episode on CNBC, quoted from U.Tpday, Sunday (4/5/2025), Marcus expressed what he sees as the next phase of digital money - a future where BTC is not just stored but actually used.
Thus, the financial institution executive predicts a transition to a hybrid system where people use national currencies for everyday spending while also storing and spending Bitcoin, which is earned through things like rewards or microtransactions.
For him, this is not speculation. This is a function built into the way the system works.
David Marcus sees Bitcoin being integrated into self-custodied wallets, with balances increasing over time and ultimately able to be spent like cash.
Recently, the financial system, built over decades and moving trillions of dollars each year, is experiencing a collapse.
Pointing to outdated infrastructure and slow payment systems that do not match how fast the global economy is currently moving.
His message to executives of the old financial system is very clear: outdated systems like SWIFT were not built for what is to come. If this new infrastructure succeeds, Bitcoin could generate money just like the internet did in terms of communication.
The company led by Marcus, which is working on technology to make this happen, is building BTC and adding various tools such as universal currency addresses.
In a plan revealed by the executive during the CNBC interview, these addresses will allow people to send money in various currencies between banks around the world instantly.

Fundamental Ecosystem
Many fundamental ecosystems are developing that can affect the price of XRP forever. One of them is the increasing push for spot XRP ETF products in the United States.

While waiting for the complete spot ETF is still ongoing, alternative products have been launched.

Teucrium has launched the first leveraged ETF in the country, which has seen significant adoption since its inception.

Additionally, Bitnomial has launched XRP futures ETF, leveraging the closure of the legal battle Ripple v. U.S. SEC last month.

ProShares is on track to launch a similar futures product to track the price of the coin. The assumption is that these new products can drive the price of XRP upward in the future.$XRP