Bitcoin (BTC) spot Exchange Traded Funds (ETFs) continued their net inflow trend. According to TraderT on the 2nd (local time), Bitcoin spot ETFs recorded a total net inflow of $678.8 million on this day. The only ETF to record a net inflow on this day was BlackRock IBIT. BlackRock IBIT saw a net inflow of $678.8 million. No net inflows or outflows occurred in other spot ETFs.
U.S. President Donald Trump stated that the tariff policy will greatly benefit the U.S. economy in the long run. In an excerpt of an interview released by NBC News on the 2nd (local time), President Trump responded to a question about whether it's okay for the economy to fall into a recession in the short term by saying, "Everything is fine," and "It's a transition period now. I think we will do tremendously well." When asked if he thinks a recession could occur, he said, "Anything can happen, but I think we will have the best economy in our country's history." Regarding concerns from Wall Street's financial sector about a recession due to the tariff policy, he countered, "Some people on Wall Street say we will have the best economy in history," and asked, "Why don't they talk about those people?" Meanwhile, the U.S. economy contracted in the first quarter. This is due to President Trump's unpredictable and unprecedented level of tariff policy. Although concerns about an economic downturn are growing, President Trump maintains that tariffs are necessary and that some pain must be endured. Yisongryeol, Hankyung.com reporter yisr0203@hankyung.com
An indicator suggesting a long-term bullish trend for Bitcoin (BTC) has emerged. According to the cryptocurrency specialist media outlet U.Today on the 2nd (local time), Bitcoin formed a golden cross on the chart as the 50-day Exponential Moving Average (EMA) crossed above the 200-day EMA. U.Today explained, "This is a bullish signal indicating a long-term trend reversal," adding, "At $96,500, Bitcoin is above all major moving averages and has already recovered the declines from February and March." However, it noted the need to be cautious about the possibility of entering an overbought state. U.Today analyzed, "Currently, Bitcoin's Relative Strength Index (RSI) is entering the overbought territory at 69," and "the possibility of a short-term correction is increasing." There are also positive indicators. One is the net inflow of funds from institutional investors. A significant net inflow has been recorded in Bitcoin spot ETFs starting from the 17th. From the 17th to the 1st, Bitcoin spot ETFs recorded net inflows on all trading days except for the net outflow on the 30th. During this period, the funds flowing into Bitcoin spot ETFs amounted to a total of $4.3 billion. U.Today explained, "This suggests a strong buying sentiment among institutional investors," and "such inflows can prevent Bitcoin's decline."
According to the virtual asset (cryptocurrency) data provider Alternative on the 3rd, the virtual asset Fear & Greed Index recorded 65 points, down 2 points from the previous day. As of 9:09 a.m. today, Bitcoin (BTC) is trading at $96,922 on CoinMarketCap, up 0.42% from the previous day. Most altcoins also remained steady. At the same time, Ethereum (ETH) and Ripple (XRP) rose by 0.25% and 0.18%, respectively. Additionally, Binance Coin (+0.20%), Dogecoin (+0.48%), Cardano (-0.99%), TRON (+1.34%), and Solana (-1.88%) showed a stable trend around 1%. The Fear & Greed Index is an indicator that expresses market sentiment, with a score closer to 0 indicating extreme fear and closer to 100 indicating extreme greed. This index is calculated based on volatility (25%), trading volume (25%), social media (15%), surveys (15%), Bitcoin dominance (10%), and Google Trends (10%).
It has been reported that President Donald Trump is supporting a strategic stockpiling plan for Bitcoin (BTC). On the 2nd (local time), Republican Senator Cynthia Lummis, who introduced the Bitcoin Strategic Stockpile Bill (BITCOIN Act), emphasized in a speech, "I am particularly pleased that President Trump has supported the Bitcoin Strategic Stockpile Bill," and "This bill can solve the national debt issue." Senator Lummis also explained in her speech, "Bitcoin is an asset for American workers." The Bitcoin Strategic Stockpile Bill introduced by Senator Lummis aims for the U.S. government to purchase 1 million Bitcoins over the next five years. Currently, the U.S. government holds 198,000 Bitcoins, including seized assets.
As President Donald Trump announced a dinner invitation for the top holders of the meme coin OfficialTrump (TRUMP), concerns have reportedly emerged within the Republican Party. According to NBC on the 2nd (local time), Republican senators, including Senator Cynthia Lummis, expressed concerns about President Trump's dinner invitation. Senator Lummis is a prominent pro-cryptocurrency political figure who announced the United States' 'Bitcoin (BTC) Strategic Reserve Plan.' Senator Lummis said, "(Regarding President Trump's dinner invitation) President Trump is my president, but this issue also gives me pause." In this regard, Senator Lummis emphasized the need to establish regulations related to meme coins. She said, "Currently, this field is like the Wild West," and "It's time for clear regulations." She continued, "(Regarding meme coins) It may seem embarrassing, but it is certainly a legitimate matter," and "What we need to do now is establish a clear regulatory framework." Other Republican senators also voiced their opinions on President Trump's actions. Senator Lisa Murkowski, a Republican from Alaska, said, "Charging for Capitol tours is not appropriate."
An analysis has emerged suggesting that Bitcoin (BTC) could reach an all-time high within the next 100 days. According to Cointelegraph, a cryptocurrency-focused media outlet, Bitcoin analyst Timothy Peterson stated, "Analyzing the relationship between the Chicago Board Options Exchange (CBOE) Volatility Index (VIX) and Bitcoin prices, the VIX index has fallen from 55 to 25 over the past 50 days." The VIX index is an indicator that can observe investor risk preference, and if the index falls below 18, the market is considered to be in a 'risk-on' state. Peterson predicted, "If the VIX remains at a low level, Bitcoin could reach $135,000 within the next 100 days." This suggests that Bitcoin could surpass its previous all-time high of $106,000 achieved last December. Meanwhile, as of 7:27 AM on the 3rd (KST), Bitcoin is trading at $96,731, up 0.15% from the previous day.
Cannes, known as the host city of the world's most prestigious film festival and a famous tourist destination in France, is expected to significantly increase the implementation of cryptocurrency payments by this summer. On the 2nd (local time), Artem Shaginyan, founder of LunuPay, who participated in an interview with the cryptocurrency specialized media Cointelegraph, stated, "The city of Cannes aims to raise the digital asset payment rate of local shops to 90%." Shaginyan said, "If Cannes, a world-renowned city famous for culture and commerce, adopts cryptocurrency payments, the Web3 market will no longer be a niche market," adding, "This is an example showing that cryptocurrency can be utilized in daily life beyond online." The effort to introduce cryptocurrency into daily life in Cannes is also evident in the announcement made by Mayor David Lisnard last February. Previously, Mayor Lisnard announced educational sessions related to cryptocurrency payments for local merchants and experts.
On the 3rd (local time), WuBlockchain reported that Nasdaq-listed social media marketing company Thumzup Media Corporation has submitted a securities registration statement (S-3) to the Securities and Exchange Commission (SEC) to issue up to $200 million worth of common stock, warrants, stock, or rights. The funds raised through the stock issuance will be used for corporate activities, including accumulating Bitcoin (BTC).
The leading virtual asset (cryptocurrency) Bitcoin (BTC) is showing strength during the day. Analysts suggest that investor sentiment has strengthened as the US and China are getting closer to tariff negotiations. As of 2:35 PM (KST) on the 2nd, Bitcoin is trading at $96,845, up 2.00% from the previous day according to CoinMarketCap. Bitcoin soared to $97,400 at one point during the day, but its gains have slightly decreased since then. Regarding this, the virtual asset specialist media CoinDesk analyzed that "Bitcoin is showing strength on news that the US and China are conducting trade negotiations." Earlier, according to Jinshi News, a spokesperson for China's Ministry of Commerce stated, "Recently, the US side has actively sent messages to China through relevant departments, expressing a desire for dialogue," adding that "a review is underway." However, China's existing stance remains unchanged. The spokesperson for the Ministry of Commerce said, "China's position is consistent. If we have to fight, we will fight to the end," adding, "If we need to talk, the door is open." Meanwhile, there is also interest in whether Bitcoin will reach $100,000. Flowdesk recently reported in a market summary that "as Bitcoin surpasses $90,000, risk appetite is increasing in both the spot and derivatives markets, and funds continue to flow into Bitcoin spot ETFs."
According to the Token Mindshare (a metric quantifying the influence of specific tokens in the virtual asset market) top gainer of the AI-based Web3 search platform Kaito, the top 5 virtual assets that people are most interested in as of the 2nd are BOOP, Bitcoin (BTC), Sui (SUI), Bank Alcoin (BNKR), and Solana (SOL). The first place is taken by the governance token BOOP of the new token launchpad boop.fun based on Solana. Boop.fun is currently allocating BOOP token airdrop quantities to participants launching meme coins on the platform. It is analyzed that many influencers are launching meme coins on boop.fun, drawing the attention of investors. Influencers who have participated in the boop.fun meme coin launch so far include Cobie, CirrusNFT, and Bold Lenoidas. Cobie also announced, "This meme coin launch is solely for receiving airdrops," and warned, "Do not buy to prevent investment losses." Bitcoin took second place. Bitcoin attracted attention by surpassing $97,000 during the day. As of 2:12 PM, Bitcoin is trading at $97,001, up 2.78% from the previous day according to CoinMarketCap. Sui, which held a Basecamp event the previous day, took third place. In particular, the news that the Stacks (STX) wrapped Bitcoin sBTC expanded to Sui seems to have attracted the interest of many investors. Bank Alcoin entered the rankings with a sharp rise of up to 15% during the day. At the same time, Bank Alcoin is recording $0.0002101, up 15.83% from the previous day on DEX Screener. Solana, which drew much attention with the launch of boop.fun, took fifth place. In addition, investors are also showing interest in Aztec (AZTEC), Aptos (APT), Pump.fun (PUMP), Etena (ENA), and Fartcoin (FARTCOIN).
Lucy Manche, the founder of Movement (MOVE), who caused controversy by causing confusion in the market and disappearing, has reportedly been suspended. On the 1st (local time), Movement announced on its official X (formerly Twitter) that "Lucy Manche has been suspended from Movement." It further explained, "This decision is due to the ongoing investigation into governance issues and misconduct by the market maker (MM)." Meanwhile, as of 11:54 AM on the 2nd (Korean time), Movement is trading at $0.1999 on CoinMarketCap, down 20.54% from the previous day.
The Chinese government announced on the 2nd that it is reviewing the U.S.'s request for dialogue. According to Jinshi News, a spokesperson for China's Ministry of Commerce stated, "Recently, the U.S. has sent multiple proactive messages through relevant departments expressing a desire to engage in dialogue with China," adding that "a review is underway." However, China's existing stance remains unchanged. The spokesperson for the Ministry of Commerce said, "China's position is consistent. If we must fight, we will fight to the end," and "If we need to talk, the door is open." They particularly emphasized that the U.S. was the first to trigger geopolitical risks. The spokesperson stated, "The tariff war and trade war were unilaterally initiated by the U.S.," and "If the U.S. wants to engage in dialogue, it must show sincerity, correct its wrong practices, and prepare to cancel unilateral tariffs and take action." Additionally, "We have recently learned that the U.S. has been continuously leaking information about tariff adjustments," and "If the U.S. does not correct its wrong unilateral tariff measures in any possible dialogue or meeting, it means the U.S. is not sincere at all, and it will further damage mutual trust between the two sides," they said. The spokesperson added, "In China, words and actions that differ, or even attempts to use negotiations as a pretext for coercion and intimidation, are ineffective."
Bitcoin (BTC) spot exchange-traded fund (ETF) has successfully turned to a net inflow. According to TraderT on the 1st (local time), the Bitcoin spot ETF recorded a total net inflow of $422.5 million on this day. In terms of net inflow size, BlackRock IBIT was the largest with $351.5 million. It was followed by Grayscale BTC (+$41.9 million), Bitwise BITB (+$38.4 million), Fidelity FBTC (+$29.5 million), VanEck HODL (+$21.9 million), Grayscale GBTC (+$16 million), and Invesco BTCO (+$10.6 million). The only entity that recorded a net outflow on this day was ARK Invest's ARKB. ARKB recorded a net outflow of $87.2 million on this day.
It has been observed that the buying pressure of Bitcoin (BTC) is overwhelming the selling pressure on Binance, the world's largest exchange. On the 2nd (KST), CryptoQuant contributor Amr Taha reported in a report that "the market buy-sell ratio on Binance has surged to 1.142," analyzing that "this means the market buying pressure is surpassing the selling pressure on Binance." Taha further added, "You can see the green line surging on the right side of the chart, which is due to the aggressive inflow of market buying pressure," and "this surge indicates a strong bullish sentiment where buyers are purchasing Bitcoin at the asking price without waiting for order execution."
Metaplanet, often referred to as the 'Strategy' (formerly MicroStrategy) of Japan, appears to be moving to purchase additional Bitcoin (BTC). On the 2nd (local time), Metaplanet announced through its official X (formerly Twitter) that it has issued 3.6 billion yen worth of zero-interest ordinary corporate bonds, stating that "this will be used to purchase Bitcoin."
According to the cryptocurrency data provider Alternative, the Crypto Fear & Greed Index recorded 67 points, up 14 points from the previous day. As of 9:09 AM, Bitcoin (BTC) is trading at $96,537 on CoinMarketCap, up 2.42% from the previous day. Most altcoins also showed strength. At the same time, Ethereum and XRP rose by 2.25% and 0.81%, respectively. Additionally, Solana (+1.98%), Dogecoin (+4.69%), and Ada (+3.11%) also recorded gains. The Fear & Greed Index is an indicator that expresses market sentiment, with values closer to 0 indicating extreme fear and values closer to 100 indicating extreme greed. This index is calculated based on volatility (25%), trading volume (25%), social media (15%), surveys (15%), Bitcoin dominance (10%), and Google Trends (10%).
<Today's Major Economic Schedule> ▶︎2nd (Fri): △Korea April Consumer Price Index (Korean time 8 AM) △US Federal Reserve (Fed) Balance Sheet (Korean time 5:30 PM, local time 4:30 PM) △US April Nonfarm Payroll Index (Korean time 9:30 PM, local time 8:03 AM) △US April Unemployment Rate (Korean time 9:30 PM, local time 8:30 AM) △US April Average Hourly Earnings (Korean time 9:30 PM, local time 8:30 AM) △European Union (EU) April Consumer Price Index (Korean time 6 PM, local time 11 AM) <Today's Major Cryptocurrency Schedule> ▶︎2nd (Fri): △Etena (ENA) Token Unlock
JP Morgan's blockchain division Kinexys is expanding its business with a focus on the Middle East region. According to ff News on the 1st (local time), Kinexys has formed partnerships with eight banks, including Qatar National Bank, Saudi National Bank, First Abu Dhabi Bank, Emirates NBD, Dubai Commercial Bank, and ABC Bank. The names of the remaining two banks have not yet been disclosed. These financial institutions have reportedly formed partnerships to simplify cross-border payments, enhance financial operations, and improve transaction efficiency using Kinexys' digital payment platform. Naveen Malrela, Kinexys Global Co-Head, stated, "With the largest eight banks in the Middle East using Kinexys' digital payment platform, we have been able to lay the groundwork for expansion worldwide."
Ahead of one of China's biggest holidays, Labor Day, gold prices are on a downward trend. Some suggest that Bitcoin (BTC) could benefit from this decline as a reflection. On the 2nd (Korean time), The Defiant reported that Chinese investors sold off gold amounting to one million ounces ahead of Labor Day. As a result, the gold futures price, which hit an all-time high of $3,500 in mid-April, is currently at $3,245.56, down 2.49% from the previous day as of 7:51 AM, according to Investing.com. The Defiant stated, "This gold sell-off is one of the largest ever," and added, "There is an opinion that Bitcoin could establish itself as a preferred asset due to this sell-off." Meanwhile, at the same time, Bitcoin is trading at $96,429, up 2.46% from the previous day, according to CoinMarketCap.
A new token launchpad based on Solana (SOL), Boop.fun, is making headlines. It appears that many influencers have flocked to the airdrop system, which rewards the launch of new meme coins with tokens. According to Decrypt, a cryptocurrency-focused media outlet, on the 1st (local time), crypto influencer CirrusNFT asked his followers on X (formerly Twitter) if they should receive a $200,000 airdrop on the condition of launching a meme coin. The airdrop mentioned by CirrusNFT in the post is the BOOP token. The BOOP token is the governance token of the new token launchpad Boop.fun based on Solana, and it is currently allocating airdrops to participants launching meme coins. It's not just CirrusNFT. Other crypto influencers like Bold Leonidas and Cobie have also announced that they are launching meme coins for the BOOP token airdrop. In particular, Cobie stated, "This meme coin launch is solely to receive the airdrop," and warned, "It's certain to be a loss, so do not buy." Meanwhile, as of 07:09 AM on the 2nd (Korean time), the BOOP token is trading at $0.1969, up 161% from the previous day, according to Dexscreener.
Strategy (formerly MicroStrategy) reported lower-than-expected earnings for the first quarter due to the decline in Bitcoin (BTC). Separately, Strategy plans to launch a new stock offering worth $21 billion. On the 1st (local time), according to the cryptocurrency-focused media outlet CoinDesk, Strategy announced its first-quarter results. According to Strategy's announcement, the company recorded a net loss of $4.2 billion and a loss of $16.49 per share in the first quarter. This is significantly below analysts' expectations of $0.11 per share. During the same period, Strategy's total software revenue was $111 million, a 3.6% decrease compared to the same period last year, falling about 5% below consensus. However, subscription service revenue increased to $37.1 million from $23 million the previous year. At the end of the first quarter, Strategy's Bitcoin holdings were counted at 528,185. Currently, it stands at 553,555. The main reason for Strategy's poor performance is attributed to the stagnant Bitcoin price in the first quarter. Meanwhile, on the same day, Strategy announced plans for an at-the-market (ATM) stock offering worth $21 billion along with its earnings report.
On this day, the early general election held in Canada is seeing the Liberal Party's victory as virtually certain. As Pierre Poilievre, the leader of the opposition Conservative Party, who was expected to take a crypto-friendly stance, faces defeat, opinions are emerging that the impact of virtual assets in the Canadian general election was minimal. According to Canadian local media CBC on the 29th (local time), the Liberal Party secured seats in 166 constituencies out of the total 343 seats in the House of Commons. They are followed by the Conservative Party (149 seats), Bloc Québécois (21 seats), and the New Democratic Party (7 seats). Canada adopts a parliamentary cabinet system where the prime minister of the majority party becomes the national prime minister. Until last January, the Conservative Party was expected to have an advantage in Canada's early general election. This was because Justin Trudeau, the Prime Minister from the Liberal Party, who had been in power for the past nine years, was replaced due to responsibility for the economic recession. However, it is analyzed that the situation changed rapidly after the inauguration of U.S. President Donald Trump. As President Trump imposed high tariffs on Canada and made gaffes such as suggesting Canada become the 51st state of the U.S., anti-American sentiment was maximized within Canada. The Liberal Party, led by Prime Minister Mark Carney, expressed its intention to respond to President Trump, which led to a surge in support. Meanwhile, the virtual asset specialized media CoinDesk evaluated that unlike the U.S. presidential election, where virtual assets exerted significant influence, their impact in Canada seems minimal.
Howard Lutnick, the US Secretary of Commerce, has promised support to Bitcoin (BTC) mining companies investing in the United States. In an interview with Bitcoin Magazine on the 29th (local time), Secretary Lutnick was asked by a reporter, 'How will you support companies looking to enter the US?' He responded, "There is the Department of Commerce's Investment Accelerator program," and added, "We plan to support companies considering entering the US depending on their investment scale, such as $1 billion or $10 billion." Secretary Lutnick cited the Bitcoin mining business as an example. He said, "We will provide sites for power plants for companies that want to mine Bitcoin in the US," and added, "This way, miners can be free from electricity costs." Secretary Lutnick further stated, "I believe this can promote the development of the Bitcoin mining industry in the US."
There is an opinion that the stablecoin (a virtual asset linked to the value of fiat currency) market, led by the U.S. dollar, is about to undergo changes. It is explained that if stablecoins using currencies other than the U.S. dollar emerge, a competitive structure may arise. According to Cointelegraph, a cryptocurrency-focused media outlet, on the 28th (local time), Reeve Collins, co-founder of Tether (USDT), stated in an interview, "Currently, U.S. dollar-based stablecoins are leading the stablecoin and real-world asset (RWA) markets, and thus the U.S. dollar has played a role similar to a key currency in the virtual asset market," but added, "However, virtual assets based on other currencies are now emerging." Collins sees the key to this competition as the collateral assets that can maintain the value of stablecoins. He explained, "In the future, various assets such as money market funds, commodities, and gold can be used as collateral for stablecoins," and "products that can yield high returns on-chain will be prioritized."
According to the Token Mindshare (a metric quantifying the influence of specific tokens in the virtual asset market) top gainer by the AI-based Web3 search platform Kaito, the top 5 virtual asset keywords currently attracting the most interest are Ethereum (ETH), Monero (XMR), USDC, Tether (USDT), and Polymarket. Ethereum, ranked first, has garnered investor attention by announcing a change in its foundation structure. The Ethereum Foundation announced on its official blog that "responsibilities between the management and the board have been separated," stating that "the board will be responsible for setting Ethereum's vision, while the management will handle the strategic execution of the vision." Monero followed, attracting attention with a sharp rise overnight. As of 1:13 PM today, Monero is trading at $269.76, up 2.45% from the previous day. Although the upward trend has paused, Monero hit an intraday high of $338.05 overnight. However, today's rise is suspected to be due to market manipulation. Blockchain analyst ZachXBT stated, "We have identified a suspicious transfer of 3,520 Bitcoins ($330.7 million), which was subsequently swapped to Monero." The third and fourth places are occupied by stablecoins (virtual assets pegged to fiat currency) USDC and Tether. The demand for stablecoins is analyzed to have surged due to increased market volatility. The fifth place is taken by the decentralized prediction platform Polymarket. Interest was drawn to related betting as an early general election was held to decide Canada's next prime minister. According to the election results released so far, the ruling Liberal Party's victory seems likely. On Polymarket, the probability of Liberal Party leader Mark Carney's victory is as high as 97%. Additionally, investors are also showing interest in Binance Coin (BNB), Coinbase, Bitcoin (BTC), Zerebro, and PancakeSwap (CAKE).
Kim Moon-soo, a preliminary candidate for the People's Power presidential election, expressed his intention to foster the virtual asset (cryptocurrency) industry. On the 29th (Korean time), candidate Kim released 'Moonsu Toon (a four-panel webtoon cartoonizing Kim's policy pledges)' through his official Facebook. According to the post, candidate Kim promised to "start protecting 16 million virtual asset investors" and "establish a virtual asset secretary and a digital asset committee." He also revealed that he would "make virtual assets an officially recognized financial industry by the state," and strive to allow investments by the National Pension Service and Korea Investment Corporation (KIC), approve exchange-traded funds (ETFs), and foster exchanges.
Ethereum (ETH) spot exchange-traded fund (ETF) has achieved a net inflow. On the 28th (local time), according to TraderT and Farside Investor, the Ethereum spot ETF recorded a total net inflow of $56.7 million. While BlackRock ETHA recorded a net inflow of $60.1 million, Bitwise ETHW saw a net outflow of $3.4 million.
Bitcoin (BTC) spot Exchange-Traded Funds (ETFs) have recorded net inflows for seven consecutive trading days. Notably, BlackRock IBIT has shown significant net inflows. On the 28th (local time), according to the Bitcoin spot ETF data provider account TraderT, a net inflow of $581 million was recorded in the Bitcoin spot ETF on this day. Most ETF products recorded net outflows. ARKB from Ark Invest and 21Shares shed $226.3 million, followed by Fidelity FBTC (-$86.9 million), Grayscale GBTC (-$42.7 million), Bitwise BITB (-$21.1 million), and VanEck HODL (-$2.7 million). Although many funds recorded net outflows, BlackRock IBIT offset them all. BlackRock IBIT recorded a net inflow of $960.7 million on this day.
It has been revealed that nearly 90% of the Bitcoin (BTC) supply is recording profits. On the 29th (KST), a Darkpost CryptoQuant contributor analyzed in a report that "currently, 86.8% of Bitcoin's supply is in profit." Regarding this, the Darkpost contributor explained, "While some view the large portion of supply in profit as a sign of overheating, it is a positive indicator in a bull market," and added, "The increase in Bitcoin supply in profit accelerates the bullish phase." He continued, "During the last adjustment period, this indicator fell to the 75% level, which I believe contributed to market normalization," and added, "If the supply profit falls below 75%, it could trigger profit-taking, leading to a bear market." Meanwhile, as of 10:29 PM on this day, Bitcoin is recording $95,043, up 2.10% from the previous day according to CoinMarketCap.