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Bitcoin bulls rush into long positions ahead of May 7 Fed FOMC interest rate decision

Key Takeaways:

Data shows Bitcoin bulls opening margin long positions from $94,400.

A $189 million increase in Bitcoin futures open interest and a 15% increase in trading volume show sustained buying interest.

BTC momentum tends to slow before FOMC meetings and then turns volatile afterward. The same could happen following this week’s Federal Reserve statements.

Bitcoin (BTC) bulls are holding strong around the $94,500 level as the market awaits the Federal Open Market Committee (FOMC) meeting on May 7. Bitcoin analyst Axel Adler Jr. noted BTC’s price strength and pointed out a bullish cluster of long positions forming around $94,400 in the futures market. A similar cluster was observed at the end of April, which pushed BTC prices to $97,500.

Bitcoin futures position dominance data. Source: X.com

Similarly, Bitcoin futures open interest (OI) exhibited a swift increase of 2,000 BTC,

New Hampshire governor signs crypto reserve bill into law

Kelly Ayotte, the Governor of New Hampshire, signed a bill into law allowing the state’s treasurer to invest in cryptocurrencies, including Bitcoin (BTC).

In a May 6 notice, Ayotte announced on social media that New Hampshire would be permitted to “invest in cryptocurrency and precious metals” through a bill passed in the state Senate and House of Representatives. House Bill 302, introduced in New Hampshire in January, will allow the state’s treasury to use funds to invest in cryptocurrencies with a market capitalization of more than $500 billion, eliminating many tokens and memecoins.

Signing New Hampshire’s crypto reserve bill into law on May 6. Source: Governor Kelly Ayotte

With the signing of the bill into law, New Hampshire was the first of several US states considering passing legislation to establish a strategic Bitcoin reserve, including an initiative

Standard Chartered sees BNB more than doubling in 2025

Asset manager Standard Chartered predicts that Binance’s ecosystem token, BNB, could more than double in price this year, according to an analyst report reviewed by Cointelegraph.

The asset manager sees BNB’s price rising to approximately $1,275 per token by the end of 2025 and as high as $2,775 by the end of 2028, according to the research report.

As of May 6, BNB trades at nearly $600 per coin, for a fully diluted value (FDV) of approximately $84 billion, according to data from CoinMarketCap.

Price forecasts for BNB. Source: Standard Chartered

“BNB has traded almost exactly in line with an unweighted basket of Bitcoin and Ethereum since May 2021 in terms of both returns and volatility,” Geoff Kendrick, an analyst at Standard Chartered, wrote in the research note.

“We expect this relationship to continue to hold, driving BNB’s price from around USD 600 currently to

Bitcoin price rallied 1,550% the last time the ‘BTC risk-off’ metric fell this low

Key Takeaways:

The Bitcoin Risk-Off signal dropped to 23.7, its lowest since March 2019, indicating low correction risk and a high likelihood of a bullish trend developing.

Despite the recent decline in network activity, bullish macro indicators like the Macro Chain Index (MCI) suggest Bitcoin could soon rally above $100,000.

On May 5, the Bitcoin Risk-Off signal, an indicator that uses onchain and exchange data to assess correction risk, dropped to its lowest level (23.7) for the first time since March 27, 2019, when Bitcoin (BTC) traded at $4,000. The signal is currently in the blue zone, which historically suggests low correction risk and a high probability of a bullish trend. When the oscillator rises above 60 or turns red, it implies a high risk of bearish movement.

Bitcoin Risk-Off signal indicator. Source: CryptoQuant

In 2019, the same signal preceded a staggering 1,550% rally that saw Bitcoin soar above $68,000

Is it a bull or bear market? How to tell the difference

TL;DR:

Not sure if you’re in a bull or bear market? This guide breaks down how to spot the difference using price action, volume, sentiment and onchain data. Learn how to recognize market cycles, what signals to watch for and how to adjust your strategy for each phase so you can trade smarter.

Crypto markets can feel like emotional rollercoasters, prices soaring one month, then crashing the next. You’re not alone if you’ve ever wondered whether you are in a bull or a bear market.

In the simplest terms:

A bull market is when prices keep going up, people are excited and there’s a general sense that the future is bright. Think back to late 2020 and early 2021; Bitcoin (BTC) climbed from around $10,000 to nearly $70,000. New projects were launching daily and it felt like everyone from your cousin to your Uber

North Korean spy slips up, reveals ties in fake job interview

For months, Cointelegraph took part in an investigation centered around a suspected North Korean operative that uncovered a cluster of threat actors attempting to score freelancing gigs in the cryptocurrency industry.

The investigation was led by Heiner Garcia, a cyber threat intelligence expert at Telefónica and a blockchain security researcher. Garcia uncovered how North Korean operatives secured freelance work online even without using a VPN.

Garcia’s analysis linked the applicant to a network of GitHub accounts and fake Japanese identities believed to be associated with North Korean operations. In February, Garcia invited Cointelegraph to take part in a dummy job interview he had set up with a suspected Democratic People’s Republic of Korea (DPRK) operative who called himself “Motoki.”

Ultimately, Motoki accidentally exposed links to a cluster of North Korean threat actors, then rage-quit the call.

Here’s what happened.

Suspected North Korean crypto spy posed as a Japanese developer

Garcia first encountered Motoki on GitHub in

Frictionless flows are Ethereum's path to economic dominance

Opinion by: Barna Kiss, CEO of Malda

An idea recently floated by some prominent thinkers in the Ethereum space to reclaim value for the mainnet is the taxing of its Layer-2s. The future of Ethereum does not depend on policy but on enabling frictionless capital movement between the L2s in question. Tariffing rollups may appear a neat way to reclaim value for the mainnet. In practice, it would fragment the ecosystem, drain liquidity, push users toward centralized platforms, and avoid decentralized finance altogether. In a permissionless system, capital flows to where it is treated best, and Ethereum’s rollups mistreat it.

Liquidity fragmentation is Ethereum’s real threat

In traditional finance, the link between fluidity and growth is well established. Lower barriers to capital inflows lead to higher investment. Take the European Union’s pre-Brexit single market. Investment flows slowed when the United Kingdom’s exit fragmented access to capital pools, as economists tracking cross-border activity noted.

What bankers, CPAs and CFOs need to know about blockchain

Why finance veterans are still skeptical about blockchain

Blockchain has been part of the finance conversation for over a decade now. Yet many professionals remain cautious.

Many seasoned professionals in finance, wealth management and economics often question blockchain’s relevance, asking, How exactly is blockchain supposed to fit into what we already do?

This question reflects a few key ongoing skepticisms about blockchain within finance.

Uncertainty about practical applications

Blockchain offers some big promises: faster settlements, stronger security and better transparency. But actually applying those promises across banking, accounting and operations is still complicated.

A 2021 APQC survey identified the main hurdles: a lack of industry-wide adoption, skill gaps, trust issues, financial constraints and problems with interoperability. Even organizations that want to embrace blockchain often struggle to turn ideas into working solutions.

Doubts about necessity

Some finance professionals aren’t convinced blockchain is necessary at all.

The same APQC survey showed trust

Read More at https://cointelegraph.com/explained/what-bankers-cpas-and-cfos-need-to-know-about-blockchain?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Dem lawmakers object to hearing, citing 'Trump’s crypto corruption'

Representative Maxine Waters, ranking member of the House Financial Services Committee (HFSC), led Democratic lawmakers out of a joint hearing on digital assets in response to what she called “the corruption of the President of the United States” concerning cryptocurrencies.

In a May 6 joint hearing of the HFSC and House Committee on Agriculture, Rep. Waters remained standing while addressing Republican leadership, saying she intended to block proceedings due to Donald Trump’s corruption, “ownership of crypto,” and oversight of government agencies. Digital asset subcommittee chair Bryan Steil, seemingly taking advantage of a loophole in committee rules, said Republican lawmakers would continue with the event as a “roundtable” rather than a hearing.

HFSC Chair French Hill urged lawmakers at the hearing to create a “lasting framework” on digital assets, but did not directly address any of Rep. Waters’ and Democrats’ concerns about Trump’s involvement with the crypto industry.

Binance founder CZ says Bitcoin could hit $500K–$1M this cycle

Binance co-founder Changpeng “CZ” Zhao expects Bitcoin’s price to top at $500,000 to $1 million during this market cycle.

During an interview with Rug Radio published on May 5, Zhao said that he expects Bitcoin to reach up to one million dollars during this market cycle. He also highlighted the role of Bitcoin spot exchange-traded funds (ETFs) in this rise, saying that the increasing institutionalization of Bitcoin is a good thing for the market:

“There’s the ETFs. There’s this institutionalization of Bitcoin [ … ] it’s a positive in terms of price action, obviously. Our bags are up — not the alt‑coins as much, but at least Bitcoin is.”

Zhao explained that the ETFs are “bringing the traditional institution money into crypto” and “most of the money in the US is institutional money.” He said that “Bitcoin is going up because most of the ETFs are Bitcoin-based.”

Changpeng Zhao at