Trump’s “Big” Trade Deal Message
Bitcoin approached $100,000 on Thursday morning as US President Donald Trump hinted at a trade deal to be announced soon with a “great and respected country.” Speculation suggests the deal could be with the UK, but no official announcement has been made yet.
A possible easing of trade tariffs could ease inflationary pressures and revive appetite for risky assets. Falling bond yields, a weakening dollar and institutional investments in spot Bitcoin ETFs have caused upward momentum in the crypto market. The agreement to be announced is expected to be part of the US’s efforts to strengthen its economic position against China.
Fed Kept Interest Rates Steady, Draws Attention to Inflation and Unemployment Risks
The US Federal Reserve (Fed) left its policy rate steady at 4.25–4.50%, in line with expectations. The statement emphasized that the risks of both an increase in unemployment and an increase in inflation have become apparent. The Fed stated that the uncertainty in the economic outlook has increased and that they are more cautious against two-way risks.
The decision came in a difficult economic environment where the effects of global tariffs implemented by the Trump administration are felt. While inflation is still above the 2% target, markets expect three interest rate cuts this year. However, authorities are reluctant to take steps before the economic impacts of the tariffs are clear.
Ethereum Launches Pectra Upgrade
Ethereum has launched Pectra, its biggest update since Dencun. The new update improves the network in many areas, from smart wallet features to validator economy, from data access to transaction efficiency. Developers see the temporary ability of user accounts to act as smart contracts, particularly thanks to EIP-7702, as an important step.
At the same time, the staking limit was increased from 32 ETH to 2,048 ETH, which provides efficiency for large validators. The “blob” capacity per block was doubled, offering Layer 2 solutions more throughput and lower costs. However, experts emphasize that significant structural issues still need to be resolved for scaling.
Arizona Becomes Second State to Pass Crypto Reserve Act
Arizona Governor Katie Hobbs signed into law a bill Wednesday that would allow the state to integrate crypto assets into its public unowned property framework. The bill, HB 2749, would allow the establishment of a crypto reserve fund for unowned digital assets, allowing them to be staked and earn rewards or airdrops.
Arizona, the second state to enact a similar regulation after New Hampshire, shows that it recognizes the place of digital assets in the future financial system. However, Hobbs vetoed SB 1025, a bill that would have pension funds invest in crypto, last week on the grounds of “untested investments.” In contrast, another bill, SB 1373, aims to create a strategic reserve of seized crypto assets and is currently awaiting the governor’s signature.
The US Should Be “Number One” for Crypto Assets Message
Treasury Secretary Scott Bessent said the US should be the world’s leading hub for digital assets. “We believe the United States should be the premier destination for digital assets,” Bessent said at the House Financial Services Committee, adding that he supports Congress’ efforts to establish a regulatory framework for crypto.
Bessent, who was appointed by Trump and received Senate confirmation in January, emphasized that the crypto economy is “here to stay.” While work continues on crypto regulation, Trump’s own memecoin and stablecoin projects have divided Democrats. Some Democratic lawmakers have held alternative meetings, not participating in crypto discussions. A separate stablecoin regulation bill is expected to be voted on in the Senate on Thursday, but the current text is still problematic for some Democrats.
A Bill to Ban “Memecoin Profits” is Coming
Representative Ritchie Torres is preparing to introduce a bill that would prohibit President Donald Trump and members of Congress from profiting from memecoin and stablecoin projects launched in their own names. The bill, called the “Stop Presidential Profiteering from Digital Assets Act,” aims to make it illegal to promote and sell digital assets that are associated with the names or similar recognizable features of presidents, vice presidents, members of Congress, and their family members.
The bill comes after Trump and his family have been actively engaging in digital assets since late 2024. Stablecoins, memecoin projects, and multimillion-dollar crypto fundraisers launched by Trump-backed World Liberty Financial have raised concerns about conflicts of interest and ethics violations among Democrats. Despite being a pro-crypto figure, Torres has taken a clear stance against political figures directly profiting from digital assets.
New Bitcoin Purchase from Metaplanet
Japan-based Metaplanet has purchased another 555 BTC amid signals of a resumption of US-China trade talks. The company’s total Bitcoin holdings have reached 5,555 BTC, or about $482 million. This purchase is seen as part of Metaplanet’s strategy to convert its capital into Bitcoin.
The company’s move came on the same day that China announced that it would meet with the US Treasury Secretary in Switzerland between May 9-12. The Chinese side emphasized that the negotiations should be conducted on the basis of mutual respect, while warning against “pressure and blackmail” tactics. In this environment, Bitcoin continues to be investors’ choice of safe haven against inflation and geopolitical risks.
Robinhood Considers Solana and Arbitrum for Stock Trading in Europe
Robinhood is developing a blockchain-based infrastructure to provide individual investors in Europe with access to US stocks. According to Bloomberg, the project plans to tokenize US securities, and a choice between Arbitrum and Solana layer 1 and 2 networks is on the agenda during this process.
No final decision has yet been made on the technology partner and launch schedule. However, this initiative aims to expand Robinhood’s scope of operations in Europe beyond crypto trading, combining traditional finance with digital asset infrastructures. The company’s brokerage license in Lithuania and the Bitstamp acquisition process also stand out as part of this strategy. The tokenized securities infrastructure promises to offer advantages such as faster clearing times, lower transaction costs and transparency.
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BITCOIN (BTC)
BTC is trading at $ 98,830 as of the morning hours with a 1.89% increase in value. The price has risen to the critical region of 97,905 – 99,465. Since this band has worked as a strong resistance in the past, the price is likely to struggle here. If BTC breaks this area with volume, the next target could be 102.585.
In the downward movements, the first support is at 95.543. Below this level, the $93,717 and $91,155 regions can be followed as important supports.
ETHEREUM(ETH)
As of the morning hours, ETH is priced at $ 1,900 with a 4.98% gain in value. The price broke the $ 1,835–1,871 range it has been trading above for a long time and rose above the $ 1,900 level. The $ 1,954 level may be targeted in the continuation of the rise. In case of possible pullbacks, the first support will be $ 1,871, while in case of declining below this level, $ 1,756 appears as a strong support level.
RIPPLE(XRP)
XRP is trading at $ 2.1780 levels with a 2.36% increase in value as of the morning hours. XRP managed to rise above the $ 2.1782 level again with the reaction it received from the $ 2.1186 support. If this zone is maintained, the $ 2.2331 level can be followed as a resistance in the short term. In the continuation of the rise, the $ 2.2989 level stands out as the next target, while in possible pullbacks, the first support at 2.1782 and the $ 2.05–2.00 range (green zone) are of critical importance as a stronger buying zone.
AVALANCHE(AVAX)
AVAX is trading at $ 20.65 levels with a 5.60% increase in value as of the morning hours. AVAX made a strong reaction rise with the support it received at $ 19.29 and reached the $ 20.69 resistance. If this level is exceeded, the price can be expected to continue its rise towards the $ 21.83 resistance zone (orange area). In the continuation of the rise, the $ 21.83 level should be watched as intermediate resistance and the $ 22.91 level as major resistance. While the first support in possible pullbacks will be $ 19.89, the $ 19.29 level is important as a stronger buying zone.
SOLANA(SOL)
SOL is trading at $ 150 levels with a 2.06% gain as of the morning hours. Solana started to rise with the support it received from $ 145.25 and seems to have broken the downward trend. If it continues to stay above $ 148, the 152.90-155.15 region appears as the first resistance that can be met. If this region is broken, the $ 163.59 level can be targeted. If $ 148 cannot hold in possible pullbacks, $ 145.25 and $ 140 levels are in the support position, respectively.
