Author: Monicah W

The post Gold Price Extends Gains Beyond $3,420/oz: What Next for Bitcoin Price? appeared first on Coinpedia Fintech News

• Gold price is less than 2 percent from its all-time high amid volatile geopolitical tensions.

• On-chain data shows that the Bitcoin network has experienced a renewed demand from institutional investors.

Gold (XAU) price gained nearly 3 percent in the past 24 hours to trade at about $3,424 per ounce on Tuesday, May 6, during the mid-Northern American session. The top-tier precious metal extended its gains on Tuesday as India launched a military offensive attack against Pakistan following a recent terror attack.

The demand for Gold by global central banks continued to increase as the U.S. dollar weakened against major currencies led by the Pound, Japanese yen, and the EUR. Furthermore, the ongoing global trade negotiations have heavily impacted the equity markets, led by the United States stocks.

Gold Price Eyes Parabolic Rally

From a technical analysis standpoint, Gold price is on the verge of experiencing a parabolic rally potentially akin to the 1979 rally. If the global demand for Gold continues in the coming months, the precious metal will likely rally beyond $4k per OZ before the end of 2025z

Expected Impact on Bitcoin Price

The notable rally for Gold price elated Bitcoin bulls, as the flagship coin surged nearly 1 percent to trade at about $94.6k at the time of this writing. Ahead of Wednesday’s Federal Funds Rate and the FOMC statement, Bitcoin price has experienced heightened volatility. 

$500K+ $BTC this bull market is more realistic than it sounds.

The current total market cap for GOLD is $22.6 Trillion.

My target for GOLD over the next few years is >$8K per oz. This would put it’s mcap over $50T. #Bitcoin currently has a market cap of less than $2T.… https://t.co/KqANkhV1Xo pic.twitter.com/UfiBciTGUb

— K A L E O (@CryptoKaleo) May 6, 2025

Ultimately, the cash rotation from gold to Bitcoin by institutional investors will catalyze the much anticipated parabolic rally for BTC and the wider crypto market in the near future. Moreover, institutional investors – led by Strategy, and BlackRock – have relentlessly accumulated Bitcoin in the recent past.

Additionally, Bitcoin Futures Open Interest (OI) has gradually increased in the past few weeks to about $63 billion at the time of this writing.

The post Gold Price Extends Gains Beyond $3,420/oz: What Next for Bitcoin Price? appeared first on Coinpedia Fintech News
Gold price is less than 2 percent from its all-time high amid volatile geopolitical tensions. On-chain data shows that the Bitcoin network has experienced a renewed demand from institutional investors. Gold (XAU) price gained nearly 3 percent in the past 24 hours to trade at about $3,424 per ounce on Tuesday, May 6, during the …

Asset manager Bitwise has made its next move in a bid to offer a NEAR ETF, filing its S-1 form with the US Securities and Exchange Commission (SEC). This development provides a bullish outlook for the Near Protocol price, with institutional investors gaining exposure to the altcoin through this fund.

Bitwise Registers NEAR ETF Filing With US SEC

A SEC filing shows that Bitwise has registered its proposed NEAR ETF with the US SEC. This move is part of the plans to launch a fund that will directly track the value of the Near Protocol price and provide investors with exposure to the altcoin.

This comes following the asset manager’s registration of the Near Protocol ETF in Delaware. Following this filing, the firm will now move to file a 19b-4 form for the ETF with the Commission through an exchange. This will officially kickstart the approval process as the exchange declares its intention to list and trade the fund on its platform.

The Commission already has several filings for other altcoin ETFs on its desk, including ones from Bitwise. Bitwise has already filed for Solana, XRP, Dogecoin, and Aptos ETFs.

However, the SEC has shown it is in no hurry to approve these funds despite the regulatory-friendly environment that the Commission has created under this new administration. The agency has so far delayed its decision on all other crypto ETFs, with the latest being Canary Capital’s Litecoin ETF filing.

Insight Into The Altcoin’s Current Price Action

Amid Bitwise’s NEAR ETF filing,  crypto analyst Lycus has provided insights into the Near Protocol’s current price action. He remarked that the altcoin’s price appears to be stabilizing above the $1.75 support zone.

The analyst added that if it can reclaim the $3.70 resistance, there could be a price surge towards the $5 level. Lycus affirmed that the NEAR price is showing strong support and advised market participants to wait for a small wick around $2.65 if they are planning to accumulate.

The post Breaking: Bitwise Files S-1 For NEAR ETF With US SEC appeared first on CoinGape.

Ahead of the US Federal Reserve FOMC Meeting on May 6, the market is analyzing the impact of its latest move to resume bond purchases. Over the past few weeks, Fed Chairman Jerome Powell has waded off pressures to lower interest rates at a time when pundits believe this move could revive the market. However, the apex bank resumed bond purchases, fueling more speculation on what this move means for the broader financial market.

FOMC Meeting and the Bond Purchase Twist

The US Federal Reserve has initiated its biggest 3-year bond purchase since 2021, according to an X update from Money Guru Digital. The bank injected $20 billion daily, as shown in the Treasury auction results. With expectations for interest rate cuts at the FOMC meeting slated for May 7. 

It is worth noting that this liquidity injection marks a big statement from the Fed as it suggests the bank is addressing lingering financial stress. This level of capital injection was last seen during the COVID-19 pandemic, a comparative measure to stabilize the market.

Amid the ongoing U.S.-China trade war and changing market realities, Fed Chair Jerome Powell is acting more cautiously. Despite the tempered approach to the market stabilizing plans, the exact policy update from tomorrow’s meeting can change the market trend.

Interest Rates Difference: Jerome Powell and President Trump in Spotlight

Outside the FOMC meeting, Jerome Powell and US President Donald Trump have clearly different views on how to handle the economy. As CoinGape reported earlier, President Trump urged the Fed to lower interest rates ahead of Wednesday’s meeting.

The premise hinges on inflation being under control. It is pegged at 2.39%, down from 2.82% in March. Despite the tariff war, this inflation is closer to the benchmark 2% annualized target set by the Federal Reserve.

It remains unknown what the Fed’s position is, but bond purchases might provide short-term relief for the financial market overall.

Key Implications for Bitcoin and Risk Assets

Historically, risk-on assets like Bitcoin are known to react to FOMC meeting decisions. A lowered interest rate will make the yield on crypto assets more attractive to investors. 

After an intense volatility earlier in the trading day, Bitcoin price has reclaimed the $95,000 mark amid a 1.3% rally. Altcoins are also responding to the potential interest rate update tomorrow with Ethereum, XRP, and Solana paring off their daily losses.

Per an earlier BTC price review, the coin has a potential $100,000 breakout thesis. Irrespective of the direction of the Fed on Wednesday, a move that may also materialize if the Fed continues to inject liquidity into the market.

The post FOMC Meeting: US Fed Resumes Bond Purchase, Is Interest Rate Cut Ahead? appeared first on CoinGape.

Bitcoin price trading above $95,000 despite U.S. state crypto bills face setbacks. Can BTC still hit VanEck’s bullish forecasts target of $180,000 in 2025.

Bitcoin (BTC) faces U.S. state pushback, but price holds strong above $95K

The Bitcoin price remains steady above $95,000 following Florida’s withdrawal of two major crypto treasury bills.

Florida’s House Bill 487 and Senate Bill 550, which aimed to allocate up to 10% of certain state funds into Bitcoin, were “indefinitely postponed and withdrawn from consideration,” according to the state’s legislative record.

Despite passing over 230 other laws this session, the Florida House and Senate did not advance the crypto-focused bills.

The session adjourned on May 2 without taking action on the proposed strategic reserve legislation, dealing a blow to U.S. state-level adoption plans. Florida now joins a list of states, including Arizona, Pennsylvania, Montana, and Oklahoma, where similar efforts have now hit legistlative roadblocks.

BTC price sentiment still strong as Arizona veto sparks renewed efforts

Arizona’s House Bill 1025, which would have allowed the state to create a digital assets reserve using seized funds, was vetoed by Governor Katie Hobbs on the same day Florida withdrew its bills.

Hobbs cited Bitcoin as an “untested investment” in her rejection letter, echoing concerns about state-level crypto exposure.

Dennis Porter says “two more chances” for Bitcoin reserve in Arizona |Source: X.com

Still, Arizona remains active in the legislative race. Dennis Porter, CEO of the Satoshi Action Fund, noted on May 5 that two more proposals are advancing.

HB 2749 proposes a “budget-neutral” method to build a Bitcoin reserve using unclaimed property fund profits. SB 1373 would allow up to 10% of Arizona’s treasury to be invested in digital assets.

Bitcoin price forecast still targets $180K, VanEck prediction holds amid legislative setbacks

Despite short-term political resistance, long-term Bitcoin price forecasts remain bullish. In December 2024, investment firm VanEck predicted the BTC price could reach $180,000 by 2025. The forecast assumes post-halving supply tightening, institutional inflows via ETFs, and continued macro demand for inflation-resistant assets.

Analysts suggest that if more states adopt neutral-funding methods, BTC reserve bills could quietly succeed without public opposition.

Several other states, including Alabama, Missouri, and Texas, which all have bills under review or in early review stages.

As advocacy groups like the The Satoshi Action Fund continues to lobby for nationwide adoption of strategic Bitcoin reserves, if even one state adopts a working reserve model, it could boost investor confidence and further support the Bitcoin price outlook toward $180,000.

Bitcoin Price Forecast Today: BTC Targets $97,000 Amid Bullish Technical Setup

Bitcoin price forecast today suggests continued upside toward the $97,000 zone, as price action maintains strength above key moving averages and technical momentum begins to reset for another leg higher. At press time, BTC price trades at $95,009, up 0.29%, with price holding firm after a minor pullback from recent highs just below $98,000.

During the recent dips on Monday and Tuesday, Bitcoin price remained well above the 50-day SMA ($90,552), 100-day SMA ($89,875), and 200-day SMA ($87,120). The breakout above $95,000 at press time on Tuesday reflecting constructive consolidation phase rather than corrective.

The MACD indicator also shows declining histogram bars, holds its lines above zero, suggesting momentum remains in favor of bulls despite some short-term exhaustion.

Should BTC price hold close consecutive sessions above $92,000 the next major resistance lies at $97,000 and then $100,000.

Conversely, a decisive drop below the 50-day SMA would introduce a bearish reversal risk, with potential downside toward $89,000. However, with the higher low structure intact and no breakdown in moving averages or momentum shifts, bulls remain in on the front-foot.

The post Bitcoin Price to Hit $180K? Satoshi Fund CEO Reacts to Crypto Reserve Setbacks in Florida and Arizona appeared first on CoinGape.

As the Trump tariffs reach a crescendo, the UK is confident of reaching a deal to reduce its steel and car export levies to the US. The incoming trade pact will see the UK offer a raft of concessions to the US in a reciprocal fashion.

UK-US Inches Toward Agreement To Lower Trump Tariffs

According to a Financial Times report, the UK and the US are nearing the inking of a deal tipped to lower previously imposed Trump tariffs. Per the report, negotiators are rippling with confidence of signing a deal to cut UK steel and car exports to the US.

The report predicts the signing within the week after a series of bilateral horse-trading between parties. The UK steel and car exports have been careening under the weight of a 25% Trump tariff imposed in April.

While the report did not immediately specify the tariff rate reduction, UK negotiators in Washington are confident of significant cuts given their range of concessions. Firstly, the UK is willing to cut the digital services tax imposed on US-based technology companies.

“Quotas are complex to operate and inherently limiting to trade,” said one automobile manufacturing executive. “The most important thing is cutting the 25% tariff because above 10%, it is just not sustainable.”

Secondly, the UK will slash its tariffs on US car imports while cutting levies on agricultural products. However, the UK negotiators are unsure about the prospects of pharmaceutical tariff cuts in the incoming trade deal.

The incoming deal follows India’s big concessions to the US and will trigger a chain reaction of nations scrambling to reach an arrangement with the US.

Cryptocurrency Markets Brace For Impacts From Trade Concessions

As the Trump tariffs intensify and countries scramble to the negotiating table, cryptocurrency investors are bracing for market impacts. As chatter around an incoming trade deal with the US grows louder, the crypto markets have risen by a modest 2% over the last day.

Although only a small rise, flashes of lower tariffs with China have stoked speculation for a crypto market rally. However, trade concessions may reduce crypto’s appeal as a safe-haven asset, lowering overall demand.

Bitcoin price has risen to nearly $100K amid an uncertain macroeconomic climate since the Trump tariffs went live. As trade concessions gather steam, investors are looking at the incoming FOMC meeting for indicators of Bitcoin price direction.

The post Trump Tariffs: UK-US Pact To Lower Steel And Car Export Tariffs Nears Signing appeared first on CoinGape.

Bitcoin critic and economist Peter Schiff has criticized the flagship crypto again, calling it a ‘scam.’ He also alluded to the recent BTC price surge and suggested that a crash is imminent. Meanwhile, Schiff’s favorite asset, gold, is again eyeing a new all-time high (ATH).

Peter Schiff Comes For Bitcoin Again

In an X post, Schiff asserted that BTC is a “total scam.” This came as he remarked that the Bitcoin price was only pumping due to the US government pumping the crypto asset. The economist also commented on gold’s price action, noting that it had enjoyed significant gains in the last 24 hours and claimed that a breakout was near.

In another post, the Bitcoin critic again stated that the flagship crypto is a “total fraud.” He added that the longer market participants take to figure this out, the more money they will lose. Schiff also commented on the US dollar’s decline and boldly affirmed that gold is the only monetary asset that can replace it as the global reserve currency.

The economist’s comments on the US pumping the Bitcoin price relate to the plans to create a Strategic Bitcoin Reserve. He recently criticized Donald Trump’s BTC plans and claimed they were a waste of resources on the flagship crypto.

The US is expected to move forward with the Reserve plans, with the US Treasury drawing up a comprehensive plan on how it will establish and manage this reserve using seized assets. Meanwhile, it is worth mentioning that New Hampshire became the first state to sign the Strategic Bitcoin Reserve bill into law today.

Bitcoin Reclaims The $95,000 Level

Amid Peter Schiff’s latest fraud comments, the Bitcoin price has again reclaimed the psychological $95,000 level. This also comes amid market uncertainty due to Trump’s tariffs, inflation, and recession concerns. Market participants seem to view the flagship crypto as a hedge against the current macro conditions.

Schiff’s favorite asset, gold, is also enjoying an upward trend at the moment. Its price surge has extended to almost $200 in two days and is now just 2.5% short of a new all-time high (ATH). The market commentator The Kobeissi Letter noted that this price surge isn’t normal, hinting at inflationary pressures in the market.

The post Gold Bug Peter Schiff Calls Bitcoin a ‘Total Scam’ Again appeared first on CoinGape.

The post KULR Technology Buys Additional 42 Bitcoin Worth $4M: Company’s BTC Trove Surges to 716.2 Coins appeared first on Coinpedia Fintech News

• KULR Technology Group has achieved a BTC Yield of 197.5 percent YTD following its relentless acquisitions.

• Bitcoin price has gained significant bullish momentum in the past few weeks with $100k in sight.

KULR Technology Group, Inc. (NYSE: KULR), a Texas-based company focused on developing and commercializing advanced thermal management, announced that it acquired 42 Bitcoins worth about $4 million on Tuesday, May 6, 2025. According to the announcement, KULR Technology increased its Bitcoin holding to 716.2 BTC, currently worth about $67.8 million as BTC hovers below $95k.

Consequently, KULR Technology achieved a BTC Yield of 197.5 percent year-to-date (YTD). The company’s continued adoption of Bitcoin as a treasury management asset has helped attract more investors. Last week, Grayscale Investment announced the inclusion of KULR stock in its Bitcoin Adopters ETF.

Moreover, Michael Mo, the company’s CEO and co-founder, previously stated that KULR Technology is committed to investing 90 percent of its surplus cash in Bitcoin.

KULR has acquired 42 BTC for ~ 4 million at ~ $94,403 per #bitcoin and has achieved BTC Yield of 197.5% YTD. As of 5/6/25, we hodl 716.2 $BTC acquired for ~ $69million at ~ $96,342 per bitcoin. $KULR pic.twitter.com/GfigUjKlac

— Michael Mo (@michaelmokulr) May 6, 2025

Impact of KULR Technology’s Bitcoin Strategy 

KULR Technology has gradually followed in the footsteps of Strategy, which has acquired more than 2 percent of the total supply of Bitcoin. Worth noting that KULR Technology is among the 192 global entities that hold more than 3.29 million Bitcoin in their treasuries.

With nation states – led by El Salvador and the United States – following in the same trend of adopting Bitcoin as a hedge against inflation,  it is safe to assume a parabolic rally for BTC price is on the horizon. 

Furthermore, the supply of BTC is significantly less compared to the demand, especially from institutional investors. For instance, the U.S. spot BTC ETTs recorded a net cash inflow of about $425 million on May 5, heavily outstripping the daily supply from BTC miners.

The post KULR Technology Buys Additional 42 Bitcoin Worth $4M: Company’s BTC Trove Surges to 716.2 Coins appeared first on Coinpedia Fintech News
KULR Technology Group has achieved a BTC Yield of 197.5 percent YTD following its relentless acquisitions. Bitcoin price has gained significant bullish momentum in the past few weeks with $100k in sight. KULR Technology Group, Inc. (NYSE: KULR), a Texas-based company focused on developing and commercializing advanced thermal management, announced that it acquired 42 Bitcoins …

The post Bitwise Filed an S-1 Form for NEAR ETF— Yet Near Price See No Pump appeared first on Coinpedia Fintech News

Bitwise, one of the biggest U.S. fund managers with $12 billion in assets under management, has taken a massive step in a NEAR ETF application. Bitwise has officially filed a Form S-1 with the U.S. Securities and Exchange Commission (SEC) to launch a NEAR-based ETF.

If approved, this could be a major turning point for NEAR, pushing its price to the next level. Meanwhile, other giant institutions are also eying now for Near ETF.  

Bitwise Files for NEAR ETF 

On May 6, Bitwise sent a filing to the U.S. SEC to launch a new ETF called the Bitwise NEAR ETF. This fund will follow the price of NEAR, the native token of the NEAR blockchain.

The NEAR tokens will be held by Coinbase Custody, a trusted company that keeps digital assets safe. They are licensed in New York and already work with big crypto projects.

Bitwise has filed a Form S-1 with the U.S. SEC to launch the Bitwise NEAR ETF, which will track the value of NEAR held by the trust, net of operating expenses and liabilities. https://t.co/dUCKFpx5i7

— Wu Blockchain (@WuBlockchain) May 6, 2025

If the SEC approves it, this would become the first U.S. ETF linked to NEAR, a fast and developer-friendly blockchain. Meanwhile, this will let people invest in NEAR without needing to buy or store the token themselves.

More Filings Incoming For NEAR ETF

Last month, on April 25th, Bitwise registered the Bitwise NEAR ETF in Delaware. This is usually the first step before filing with the SEC to launch a real ETF that tracks NEAR’s price.

Bitwise isn’t the first to show interest. Before this, Grayscale and 21Shares have already made NEAR investment products. But Bitwise jumping in now could bring more attention, money, and new investors to NEAR.

Technical Indicators Show Mixed Signals

Despite the positive news, Near protocol native token NEAR’s price hasn’t reacted strongly yet. As of now, it is trading around $2.30, reflecting a drop of 1.6% seen in the last 24 hours. 

However, the short-term technical indicators suggest some caution. The MACD is signaling bearish momentum, while the RSI is now at 90, suggesting that NEAR is overbought. This setup hints that a price drop could be near.

Unless the bulls manage to defend the key support at $2.10 and push NEAR back up toward the $2.70 resistance zone.

The post Bitwise Filed an S-1 Form for NEAR ETF— Yet Near Price See No Pump appeared first on Coinpedia Fintech News
Bitwise, one of the biggest U.S. fund managers with $12 billion in assets under management, has taken a massive step in a NEAR ETF application. Bitwise has officially filed a Form S-1 with the U.S. Securities and Exchange Commission (SEC) to launch a NEAR-based ETF. If approved, this could be a major turning point for …