Glassnode data reveals that currently 88% of the Bitcoin supply is profitable, with the loss-making group mainly concentrated among buyers in the range of $95,000 to $100,000. This high profit rate has rebounded from the long-term average of 75%, indicating that investors’ expectations are undergoing a significant shift. The rebound of Bitcoin’s price to the long-term cumulative average profit percentage indicates that the price range of $75,000 to $95,000 May have reached the bottom, which is in line with the market structure in the third quarter of 2024.
Meanwhile, the price of Bitcoin fluctuates frequently. As of the time of publication, the recent trading price of BTC was $94,689.93, with an intraday increase of + 0.3%. It then once dropped below $95,000 and is now trading at $94,997.71, with a 24-hour increase of 0.39%. Furthermore, the on-chain data tracking service Whale Alert detected that a dormant address containing 2,343 BTC (worth over 221 million US dollars) was activated after being dormant for 11.8 years.
CZ shares his imprisonment experience and plans to publish a book detailing it
Binance founder CZ disclosed inan interview with Rug Radio that his experience of serving a four-month sentence in the United States was “extremely difficult” and “terrifying”, admitting frankly that “he didn’t want anyone to go through it”. When he first entered the prison, facing the tattooed prisoners, he felt uneasy and frightened. Although he was a billionaire, his fellow inmates did not treat him specially. One of them, who was sentenced to 30 years in prison for double murder, got along well with him. As a non-US citizen, he was sent to a low-security facility during which he was under great mental stress and worried about an extension of his prison term. This experience made him reorder his life: health first, family second, work and others second. He also plans to publish a new book, detailing his life in prison.
Cryptocurrency market conditions
As of the time of publication, Coingecko data shows that the recent trading price of ETH is $1,817.11, with a daily increase or decrease of + 0.3%. The recent transaction price of BNB is $597.58, with an intraday increase or decrease of + 1.8%. The recent transaction price of SOL is $146.29, with an intraday increase or decrease of + 1.4%. The recent transaction price of DOGE is $0.1697, with an intraday fluctuation range of -3.9%. The recent transaction price of XPR is $2.13, with an intraday fluctuation range of -1.4%.
The cryptocurrency policy of the United States has been frequently updated
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the Canary Spot Litecoin ETF. Caroline Pham, the acting chairperson of the Commodity Futures Trading Commission (CFTC) of the United States, said that the CFTC plans to participate in the industry tokenization pilot project as an observer to understand the actual operation of tokenized assets. Maxine Waters, the chief Democrat of the House Financial Services Committee of the United States, prevented the committee from holding a joint hearing with the House Agriculture Committee on the draft bill for market structure discussions due to Trump’s recent increased interaction with cryptocurrencies.
In addition, the chairperson of the multiple committees of the US House of Representatives released a draft of the digital asset regulatory framework bill for discussion. The new draft of the market structure discussion clearly states that transactions involving the sale of digital goods without granting the purchaser ownership rights to the issuer’s business, profits or assets do not constitute securities.
Blockchain applications and hotspots in the cryptocurrency industry
Trump’s arrangement of two cryptocurrency-themed dinners this month has drawn attention. A “Cryptocurrency and Artificial Intelligence Innovators’ Dinner” hosted by MAGA Inc. costs as much as 1.5 million US dollars for a single admission ticket. Another event targeting “Meme coin” millionaires requires participants to hold TRUMP tokens. This raises concerns about potential conflicts of interest, and critics argue that it may violate the constitutional “pay clause”.
Devin Finzer, the co-founder and CEO of OpenSea, accused the US SEC of unfairly targeting outstanding participants in the crypto field for law enforcement during the Biden administration. Coinbase CEO Brian Armstrong praised The company’s advertisement “The future of money can’t be printed”. Solana network validators successfully fixed the vulnerability. If exploited, attackers could infinitely mint or steal Token-22 confidential tokens.
Important economic dynamics
U.S. stocks closed on Monday with all three major indexes falling. The Dow Jones Industrial Average initially closed down 0.2%, the S&P 500 Index dropped 0.6%, and the Nasdaq Composite Index declined 0.7%. Tesla dropped by 2.4%, Apple by 3.1%, and Berkshire Hathaway by 5%. The Nasdaq China Golden Dragon Index slightly declined, with Alibaba rising by 0.6% and JD.com falling by 1%. CME’s “FedWatch” shows that the probability of the Federal Reserve keeping interest rates unchanged in May is 97.3%, and the market is closely monitoring the subsequent direction of interest rates.
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