Key TakeawaysBitcoin tagged $80,594 -- its highest since January 31 -- triggering $370 million in total crypto liquidations across 97,235 traders in 24 hours, with $301.93 million coming from short positionsShorts were liquidated roughly four times as much as longs, with Bitcoin accounting for $179 million and Ether contributing $95 million; the largest single liquidation was an $11.77 million ETH/USDT short on BinanceThis is the second major short squeeze in two weeks -- a similar setup on April 18 wiped out $593 million in shorts as Bitcoin pushed past $77,000Bitcoin futures open interest has climbed to 763,350 BTC, up sharply from the May 1 low of 707,240 BTC, with CVD turning positive -- signaling buyers are driving price actionONDO surged 11% over 24 hours, breaking above its 90-day trading range as the Clarity Act yield compromise boosted regulatory clarity for real-world asset tokensFxPro analysts say Bitcoin needs to consolidate above $85,000 to confirm the breakout, flagging $83,600 as a key long-term trend line convergence levelBitcoin's break above $80,000 caught the crypto derivatives market badly positioned for the third time in recent weeks, triggering $370 million in total liquidations across 97,235 traders in 24 hours with short sellers absorbing the majority of the damage -- a pattern that is beginning to look less like a series of isolated events and more like a structural feature of the current market.Bitcoin briefly tagged $80,594 in early Asian trading Monday -- its highest print since January 31 -- before pulling back to trade around $79,851 at time of writing. Of the $370 million in total liquidations, $301.93 million came from short positions, according to CoinGlass data, with shorts liquidated at roughly four times the rate of longs. Bitcoin alone accounted for $179 million of the wipeout, with Ether traders contributing $95 million. The single largest liquidation was an $11.77 million ETH/USDT short on Binance.A Structural Short Squeeze PatternThe squeeze is the second of its kind in two weeks. A similar setup on April 18 wiped out $593 million in shorts as Bitcoin pushed past $77,000 on the back of Iran ceasefire reports. The repetition of the pattern points to a persistent structural dynamic: funding rates on Bitcoin perpetuals have been pinned negative for most of April, meaning short sellers have been paying longs to maintain their positions. Each time price pushes higher, the accumulated short positioning unwinds violently -- creating a self-reinforcing upside move that outpaces what spot demand alone would generate.The pattern is now well enough established that analysts are watching for a third iteration rather than treating each squeeze as a standalone event.Derivatives Positioning: Broadly Bullish With Pockets of ExcessBitcoin's futures open interest has climbed to 763,350 BTC, up sharply from the May 1 low of 707,240 BTC, suggesting renewed capital inflows into the market following April's end-of-month de-risking. The 24-hour cumulative volume delta has turned positive, meaning buyers are now driving trading activity through market orders rather than passive limit orders -- a shift from the defensive positioning that characterized much of late April.Ether's futures open interest has risen to 14.17 million ETH, its highest level since April 18, also backed by positive funding rates and positive CVD. Zcash is showing one of the strongest setups among major tokens, with open interest near a four-month high at 2.26 million tokens and positive funding rates around 7%.Not all markets look healthy. Monero and M token appear overheated, with funding rates surging above 60% -- a level that historically raises the risk of long squeezes if momentum stalls. FxPro analysts flagged the broader breakout as unconfirmed, noting that Bitcoin needs to consolidate above $85,000 for the move to be structurally validated. "The rising price and the downward-sloping 200-day moving average are actively converging with an important long-term trend line at $83,600. Consolidation above this level could further encourage traders, but we would prefer to see consolidation above $85,000 first," the firm said.Options Markets Signal Calm, Put Skew FadesDespite the sharp price action, options markets are signaling relative calm. Annualized 30-day implied volatility for both Bitcoin and Ether has remained subdued for over a month, consistent with a steady grind-higher rally rather than a volatility-driven spike. Ethereum's volatility index EVIV is approaching the 55% level -- a zone that has acted as a floor multiple times since 2024 and bears watching as a potential signal of a broader volatility pickup.On Deribit, put skews in both Bitcoin and Ether have weakened notably compared to a month ago, signaling reduced demand for downside protection and increased appetite for upside exposure via call options. The shift in options sentiment from defensive to constructive is one of the clearest indicators that the market's risk posture has changed since April's lows.Altcoins Join the RallyOther major cryptocurrencies participated in the move. Ether climbed 2.3% to $2,368, up 2.2% on the week. XRP gained 2.1% to $1.42. BNB added 1.9% to $630. Solana rose 1.4% to $85.14. Dogecoin was the week's standout performer, up 3.5% on the day and 14.3% on the week to $0.1119, extending a breakout that began last week alongside year-high open interest in DOGE futures.ONDO Leads RWA Token Rally on Clarity Act OptimismOne of the clearest beneficiaries of the Clarity Act stablecoin yield compromise is the real-world asset token sector. The compromise -- which shifts reward structures from a "buy and hold" to a "buy and use" model -- combined with growing regulatory clarity around tokenized assets, has driven a sharp rally in RWA tokens with Ondo Finance's ONDO leading the charge.ONDO surged 11% over 24 hours, breaking above its 90-day trading range as investors rotated into tokenized real-world asset exposure. TRU and PENDLE also posted gains. Ondo's total value locked stands at $3.57 billion with a market capitalization of $1.5 billion per DeFiLlama data. The rally comes alongside broadening institutional interest in RWA tokenization, with more than $30.9 billion in assets now tokenized on-chain according to RWA.xyz. Ondo also announced this week that it had tapped Broadridge Financial Solutions to add proxy voting and filings access for more than 250 tokenized stocks and ETFs -- a significant step toward institutional-grade governance for tokenized securities.ETF Flows Confirm Institutional DemandNet inflows into US spot Bitcoin ETFs reached $153.9 million last week per SoSoValue, capping an April that pulled in $1.97 billion -- the highest monthly total since October 2025. Ether ETFs moved in the opposite direction, recording $82.5 million in net outflows that ended a three-week inflow streak -- a divergence that may reflect profit-taking following Ether's strong April performance rather than a structural change in institutional sentiment.

Mexico's central bank survey indicates that private sector analysts expect the overall inflation rate to reach 4.38% by the end of 2026. According to Jin10, this projection is higher than the previous survey's estimate of 4.21%.

The United Arab Emirates (UAE) has issued a missile threat warning, marking the first such alert since the ceasefire between the United States and Iran took effect approximately a month ago. Bloomberg posted on X, highlighting the significance of this development in the region's geopolitical landscape. The warning underscores ongoing tensions despite the recent ceasefire, as regional security remains a critical concern. The UAE's alert serves as a reminder of the fragile nature of peace agreements and the potential for renewed hostilities. The situation continues to be closely monitored by international observers, with implications for regional stability and security.

KWave Media, a Nasdaq-listed South Korean entertainment company, has announced a strategic shift in its investment focus. According to NS3.AI, the company plans to redirect up to $485 million, initially secured for its Bitcoin treasury strategy, into AI infrastructure. This move will fund data centers, GPU computing operations, and related AI investments under a revised securities purchase agreement with Anson Funds. The decision comes as part of KWave Media's efforts to support debt reduction and restructuring. The company first announced its Bitcoin treasury strategy in 2025 as a component of a broader capital market reorganization plan. This pivot towards AI infrastructure reflects a significant change in KWave Media's investment priorities.

Key Takeaways April non-farm payrolls drop Friday, May 8, with estimates at just 73,000 -- a sharp deceleration from March's 178,000 -- in the first payrolls print after a delay caused by the 2025 federal shutdownStrategy, Coinbase, MARA, Hut 8, Core Scientific, and CleanSpark all report Q1 earnings this week, putting the Bitcoin treasury trade and miner business models under the spotlightSan Francisco Fed President Mary Daly and Chicago Fed President Austan Goolsbee speak Friday on central bank independence -- the same week Jerome Powell exits the chair role under White House pressureEcho Base partner Jennifer Hanny warns that low volatility and light positioning create an asymmetric setup where markets "could react quickly to any catalyst that forces a repricing of risk"Coinbase will delist DAI and convert remaining tokens to USDS on May 4; ZKsync Lite will be fully deprecated the same day Three distinct tests land inside one week for crypto markets, each capable of shifting the near-term outlook for Bitcoin and digital assets in a different direction -- and all arriving as Bitcoin attempts to consolidate its first move above $80,000 since January. Test One: April Jobs Data The week's most significant macro event is Friday's April non-farm payrolls report, the first jobs print after a delay caused by the 2025 federal government shutdown. The consensus estimate sits at just 73,000 new jobs -- a sharp deceleration from March's 178,000 -- alongside an unemployment rate forecast steady at 4.3% and average hourly earnings expected at 0.3% month-on-month and 3.5% year-on-year. The stakes for crypto are straightforward. A weaker-than-expected print gives the Federal Reserve cover to cut rates sooner, removing one of the primary headwinds that has capped Bitcoin's recovery. A strong print delays easing further, reinforcing the higher-for-longer monetary policy backdrop that has contributed to Bitcoin's inability to sustain moves above $80,000. With CME FedWatch already pricing a 94.9% probability of a June hold, a significant miss on payrolls could meaningfully shift that calculus. Supporting data arrives through the week. US JOLTs job openings for March are due Tuesday at 9:00 AM ET, followed by ADP Employment Change for April on Wednesday at 7:15 AM ET -- the prior reading was a weak 62,000. Initial jobless claims for the week ending May 2 are due Thursday at 7:30 AM ET, with the prior reading at 189,000. Michigan Consumer Sentiment for May also drops Friday alongside payrolls, with the prior reading at 49.8. Test Two: Bitcoin Treasury Earnings Season The week delivers the most concentrated slate of Bitcoin-adjacent corporate earnings of the year. Strategy reports post-market Tuesday with Wall Street expecting a per-share loss of $12.95 -- a figure that will put the spotlight on the durability of Michael Saylor's STRC-funded capital-raising engine following April's $3.9 billion in Bitcoin purchases and the company's second weekly buying pause of the year ahead of the report. MARA Holdings reports post-market Tuesday with an estimated loss of $0.45 per share, having already disclosed the sale of 15,133 BTC last quarter to fund a debt buyback. Hut 8 reports pre-market Wednesday at an estimated loss of $0.34 per share. Core Scientific follows post-market Wednesday at an estimated loss of $0.04. Coinbase Global -- the most closely watched exchange earnings of the quarter -- reports post-market Thursday with Wall Street expecting earnings of $0.26 per share. Block reports Thursday post-market at $0.60. CleanSpark and TeraWulf round out the week Friday with estimated losses of $0.23 and $0.19 per share respectively. Riot's disclosure that it sold 3,778 BTC last quarter at an average of $76,626 per coin sets the tone for what investors will be scrutinizing: whether miners are holding or liquidating Bitcoin, and whether treasury companies can continue funding accumulation at the pace set in April. Test Three: The Fed and Powell's Final Week The Federal Reserve remains in focus despite no policy decision this week. San Francisco Fed President Mary Daly and Chicago Fed President Austan Goolsbee are scheduled to participate Friday in a Hoover Institution conference on "Independence, Structure, and Risks Ahead for Central Banks" -- a topic that carries unusual weight given that Jerome Powell exits his chair role this week under White House pressure while remaining on the Fed board as a governor in what he has described as a "low-profile" capacity. The timing is significant. Kevin Warsh is expected to assume the chairmanship in mid-May, and any comments from Daly or Goolsbee on Fed independence or the rate outlook will be parsed carefully as markets assess the institutional dynamics of the transition. Powell's own parting comment -- that the next meeting may consider shifting from an accommodative to a neutral stance -- adds additional weight to every Fed speaker appearance this week. The Bank of Japan also releases its monetary policy meeting minutes Wednesday evening, a potentially market-moving event given the 6-3 vote split at the last meeting and the 74% probability markets are now pricing for a June BOJ rate hike. The Reserve Bank of Australia announces its rate decision Sunday night at 11:30 PM ET, with estimates at 4.35% against a prior of 4.1%. Crypto-Specific Events Coinbase will delist DAI and convert remaining tokens to USDS on May 4, reflecting the ongoing consolidation in the stablecoin landscape as Circle's USDC and its derivatives gain institutional ground. ZKsync Lite will be fully deprecated the same day, marking the end of the original ZKsync layer-2 product as the ecosystem transitions fully to ZKsync Era. Lido DAO is conducting a time-sensitive governance vote -- ending May 6 -- on a proposal to temporarily lower the EarnETH first-loss protection trigger below the standard 1% threshold, designed to ensure full compensation for users if the rsETH shortfall from the KelpDAO exploit is resolved through DeFi United. The Asymmetric Setup Jennifer Hanny, partner at Echo Base, framed the week's risk environment concisely. "Investors aren't heavily positioned and volatility remains low, creating an asymmetrical setup: markets appear stable on the surface but could react quickly to any catalyst that forces a repricing of risk," she told CoinDesk. With Bitcoin consolidating around $79,000 after its first $80,000 breach since January, the combination of a potentially weak payrolls print, a wave of Bitcoin treasury earnings, and active Fed speakers creates the conditions for either a sustained breakout above $80,000 or a return to the mid-$70,000s that Marex analysts identified as the alternative scenario on a rejection.

Analyst @ai_9684xtpa posted on X that a recent trading strategy by @Jason60704294 has sparked interest. After successfully shorting and earning over $2 million, the analyst reversed the position to go long with 46.1 BTC, resulting in a floating profit of $74,000. However, the actual position details are yet to be updated by the analyst.

On May 04, 2026, 14:49 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 80,000 USDT benchmark and is now trading at 80,173.601563 USDT, with a narrowed 1.92% increase in 24 hours.

Robert Hackett from a16z has suggested that the term 'stablecoin' is outdated for a market that has surpassed $321 billion. According to NS3.AI, Hackett believes that stability should now be considered a fundamental feature rather than a defining characteristic. Similarly, John Palmer has argued for a new name that better reflects the current state of the market.

Polymarket data indicates a 64% probability that U.S. President Donald Trump will sign legislation concerning the structure of the cryptocurrency market this year. According to NS3.AI, this development could have significant implications for the regulatory landscape of digital assets in the United States. The potential signing of such legislation reflects ongoing discussions and efforts to establish clearer guidelines and frameworks for the crypto industry. As the year progresses, stakeholders in the cryptocurrency sector are closely monitoring these legislative movements, which could shape the future of digital asset regulation.

Ray Dalio, người sáng lập Bridgewater Associates, vừa đưa ra một cảnh báo mới: hai năm tới sẽ là "giai đoạn đặc biệt nguy hiểm", với sự hội tụ của ba cơn bão nợ, địa chính trị và công nghệ, và hầu hết các chiến lược định thời điểm của nhà đầu tư đều sẽ thất bại.

Đối với các nước phát triển, tầng lớp đó vẫn là tiền gửi ngân hàng và các mối quan hệ tài khoản; đối với các nước đang phát triển, tầng lớp đó là các khoản thanh toán xuyên biên giới, dòng vốn và chủ quyền tiền tệ.

Nikita Bier, trưởng bộ phận Sản phẩm của X, vừa tiết lộ rằng tiền điện tử là chủ đề có nhiều khả năng bị người dùng X tắt tiếng nhất, vì ngày càng ít người dùng muốn thấy tin tức liên quan đến tiền điện tử trên trang "Dành cho bạn" của họ.

OpenAI đang cố gắng vá các lỗ hổng bảo mật, nhưng những sinh mạng đã mất tiếp tục thách thức ranh giới giữa công nghệ và con người.

Singapore đang thử nghiệm trí tuệ nhân tạo (AI) với năm ngân hàng và cơ quan để phát hiện sớm các giao dịch gian lận bằng cách sử dụng dữ liệu được chia sẻ. Cuộc thử nghiệm nhằm mục đích cải thiện khả năng phát hiện và giảm thiểu thiệt hại, với kế hoạch mở rộng nếu đạt hiệu quả tốt.

Cộng đồng XRP vừa phải đối mặt với một mối đe dọa kiểu mới—và lần này, nó diễn ra ngay trong thời gian thực tại một sự kiện trực tiếp.

Morgan Stanley đã mua thêm 286,7 Bitcoin, trị giá khoảng 22,5 triệu đô la, nâng tổng số Bitcoin nắm giữ lên khoảng 2.620 BTC, trị giá khoảng 205 triệu đô la.

Brazil đã cấm các nhà cung cấp dịch vụ ngoại hối sử dụng stablecoin và tiền điện tử để thanh toán xuyên biên giới, buộc họ phải sử dụng các kênh ngân hàng truyền thống. Giao dịch tiền điện tử vẫn hợp pháp, nhưng các công ty sử dụng blockchain cho việc chuyển tiền phải thay đổi hệ thống của họ trước thời hạn đến năm 2027.

Đạo luật CLARITY, vốn bị trì hoãn lâu nay, hiện đang đứng trước ngưỡng cửa của một bước đột phá quyết định, khi các thượng nghị sĩ Hoa Kỳ đạt được một thỏa hiệp quan trọng có thể thúc đẩy dự luật tiền điện tử mang tính bước ngoặt này được đưa ra bỏ phiếu tại Thượng viện sớm nhất là vào tháng Năm.

Nobitex, nền tảng tiền điện tử hàng đầu của Iran, đã trở thành tâm điểm chú ý sau khi một cuộc điều tra của Reuters tiết lộ rằng nó được thành lập bởi các cá nhân có liên hệ với một trong những gia đình chính trị quyền lực nhất nước này - làm dấy lên những câu hỏi mới về sự giao thoa giữa cơ sở hạ tầng tiền điện tử và ảnh hưởng của nhà nước.