US, China Reach Trade Deal, Bitcoin Surpasses $103,000
The US and China announced that they have reached a trade agreement following talks in Switzerland. US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng described the talks as “constructive” and “meaningful.” Details of the agreement will be announced in a joint statement on Monday. The development is seen as a significant step that could ease the trade war that began with high tariffs imposed by the two countries on each other and has sparked concerns of a recession in the global economy.
Markets reacted positively, with Chinese stocks and the yuan gaining, while US futures also rose. Bitcoin is also approaching new highs. Bitcoin is currently trading at $104,000, just 5% away from its all-time high of $109,350. Easing trade tensions and expectations of a rate cut are boosting optimism in the markets.
BlackRock Meets with SEC on Staking and Options in Crypto ETFs
BlackRock, the world’s largest asset manager, met with the SEC’s Crypto Task Force to exchange views on staking (taking shares) opportunities and options transactions in crypto ETFs. The meeting discussed technical details such as the possibilities for regulating staking in Ethereum spot ETFs, liquidity thresholds and position limits. BlackRock Digital Assets President Robert Mitchnick stated that staking could create a “significant leap” if possible.
The SEC’s approach to crypto has changed during the Trump era. The task force, led by new Chairman Paul Atkins and Commissioner Hester Peirce, aims to create a friendlier regulatory framework for digital assets. Last month, the SEC approved options transactions for spot Ethereum ETFs of companies such as BlackRock, Grayscale and Bitwise. BlackRock’s initiative could open the door to staking in ETFs.
Bessent’s Strong Reaction to Senate’s Rejection
US Treasury Secretary Scott Bessent harshly criticized the Senate’s blocking of the GENIUS Act, which includes stablecoin regulation, during the vote. Emphasizing that American leadership is essential for digital assets to develop on a global scale, Bessent stated that the Senate “wasted” the opportunity to provide this leadership. In his statement on social media, he stated that the law was a “once in a generation” opportunity that would reinforce the dollar’s global dominance.
The GENIUS Act includes provisions that require stablecoins to be backed by 100% reserves, annual audits, and prohibit foreign issuers from operating in the US. However, the vote in the Senate failed with a vote of 49 to 48. President Trump’s direct involvement with crypto projects and potential conflicts of interest have prompted some Democratic senators to back down, with Bessent calling the Senate’s delays “political maneuvering that hinders American innovation.”
Vice President JD Vance to Keynote Bitcoin 2025 Conference
Vice President JD Vance will keynote the Bitcoin 2025 conference in Las Vegas this month. It will be the first time a vice president has publicly endorsed Bitcoin at a crypto event. The event will also be attended by President Donald Trump’s sons, Eric Trump and Donald Trump Jr. Last year, President Trump spoke at the Bitcoin 2024 event during his election campaign and advocated that Bitcoin should only be produced by US companies.
JD Vance announced that he had between $100,000 and $250,000 worth of Bitcoin while running for Senate in 2021 and worked with crypto-supporting billionaire Peter Thiel. With Trump re-elected, the White House has adopted a friendlier stance on digital assets, while the SEC has dropped many lawsuits and the first crypto bill has been signed. Trump’s crypto investments have sparked political controversy, but they have broad support from within the industry.
Metaplanet Plans $21 Million in New Bond Sale to Purchase Bitcoin
Japan-based Metaplanet has announced plans to sell $21.25 million in new bonds to increase its Bitcoin purchases. This will be the company’s third bond sale in just a week. The bonds, which will be issued without interest, will be sold to EVO FUND and will be repaid on November 9. Metaplanet’s move comes as part of its strategic investment plan for crypto assets.
The company currently holds 5,555 BTC (approximately $576 million), making it the largest Bitcoin portfolio among publicly traded companies outside of North America. With this development, Metaplanet shares rose 2.75% to 524 yen on Friday, outpacing the Nikkei 225 index, which gained 1.56% on the same day.
Banking Supervision Tightens in Spain, Interest in Bitcoin Grows
Royal Decree 253/2025, which entered into force in Spain, introduces new reporting obligations for banks and fintech companies rather than individuals. Under the new regulation, financial institutions will have to report information such as cash transactions over €3,000, credit transactions and card payments to the Spanish tax office (AEAT) every month. All transactions belonging to customers whose annual card usage exceeds €25,000 will also be reported. However, claims spread on social media that individuals must give advance notice for cash withdrawals over €3,000 or face a €150,000 fine have been proven false.
While the law does not directly target individuals, privacy advocates and Bitcoin advocates argue that increased surveillance threatens financial freedoms. Such steps would allow the government to more closely monitor citizens’ spending and saving behavior, while also increasing interest in decentralized and censorship-free digital assets. With similar regulations across Europe, the use of cash is becoming increasingly restricted, while self-storable digital assets like Bitcoin are becoming more attractive.
Xociety and Adidas Partnership Divides Web3 Players
SUI’s Web3-based game Xociety has drawn attention with its $129 NFT mystery box deal with Adidas, but it has received mixed reactions from the gaming community. Players are critical of the priority given to NFT sales when the game is not yet widely available. The boxes contain virtual clothing, XCS tokens, and content with rarities. However, many players argue that a strong gameplay loop is key to long-term player loyalty.
The mystery box criticism and general skepticism of Web3 games has resurfaced in the case of Xociety. While there is no definitive negative about the quality of the game, which has only been tested in limited trials, the community is expecting a greater focus on the game itself. The development team plans to address these concerns with a large-scale test to be held from May 15-23. This shows that Web3 games are still in the process of gaining confidence in mainstream players.
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BITCOIN (BTC)
BTC is trading at $103,835 as of the morning hours, down 0.27%. Bitcoin has reached 103,889 with the uptrend it started from 91,960. The 95,839 and 99,000 areas were critical support areas in terms of Fibonacci and liquidity, and the price has left these areas behind. It is currently in a horizontal consolidation phase. Daily closes above 104,000 should be monitored for the rise to continue. Otherwise, a correction to the 99,000 area may be possible.
ETHEREUM(ETH)
ETH is priced at $ 2,500 as of the morning hours with a 0.57% loss in value. The Ethereum price has overcome the 2,314 resistance with strong volume and is balanced at 2,507 levels. The last upward movement has a very steep formation, which brings with it the risk of short-term profit taking. The 2.314 level is now a strong support level and the trend will remain positive as long as it remains above this level.
RIPPLE(XRP)
XRP is trading at $ 2.3865 with a 0.82% gain as of the morning hours. XRP started to rise with the purchases it received from the 2.11 support zone and broke the 2.36 resistance above. It is currently following a horizontal course at the 2.39 level. If this level is maintained, the 2.50 psychological resistance can be targeted. However, selling pressure may increase if it drops below 2.36.
AVALANCHE(AVAX)
AVAX is trading at $25.07 levels with a 0.97% gain as of the morning hours. Avalanche increased its upward momentum with the break of the 23.03 resistance. The price climbed to the 25.11 level and a short-term pause is seen here. If a strong resistance is not formed at this level, the price movement may expand towards 26.00 and above. The 23.03 level should be followed as support in possible pullbacks.
SOLANA(SOL)
SOL is traded at $ 174.78 as of the morning hours with a 0.79% gain in value. The Solana price made a sharp increase with the strong support it received from the 144.87 region. The price, which rose to the 176.27 resistance, is consolidating at this level. The resistance zone is being clearly tested. If it persists above 176.27, a new upward wave may begin to reach levels of 180 and above. In the opposite scenario, the probability of a correction in the short term increases.
