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.
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.
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. $KULRpic.twitter.com/GfigUjKlac
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 …
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
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 …
Two altcoins, Maple’s SYRUP and Kamino’s KMNO, spiked over 30% after receiving a Binance listing today. Maple Finance and Kamino have been active in the DeFi space for a long time, but their native tokens are rather recent.
KMNO briefly fell below its pre-listing valuation due to profit-taking, but it remains nearly 85% up over the past month. Meanwhile, SYRUP also received a Coinbase listing last week, further boosting demand.
Binance Listings Remain Influential for New Projects
Today, SYRUP and KMNO generally stick with this program, as the listing announcement led to huge rallies.
Maple Finance (SYRUP) Daily Price Chart. Source: CoinGecko
Maple Finance is a DeFi Institutional Lender that existed for several years before launching its SYRUP token. The project was launched back in 2019, while its native SYRUP token went live last November.
Its DeFi lending platform took off on Solana and Ethereum in 2021, but it’s been comparatively quiet since. Still, recognition has been growing for Maple lately, leading to the Binance listing.
Kamino Finance’s KMNO, the other altcoin to receive a Binance listing, shares a few key similarities with SYRUP. This Solana-based DeFi liquidity protocol also launched years ago, but KMNO first hit the market in April 2024.
Kamino, too, has been gaining notoriety in 2025, and it’s currently considered a major protocol in Solana’s DeFi ecosystem.
KMNO technically bucked the Binance listing trend to a certain degree. The token fell just as sharply after its first spike over 20%. For a brief window, its price was lower than its pre-listing valuation, but this bounced back up.
Kamino saw quick corrections after the initial rally, as traders quickly liquidated to take profits, but it remains up 80% in the last month.
In summary, despite KMNO’s minor setback, both of these assets performed within general expectations. Binance’s listings are still very influential.
However, this event did not provide much insight into the exchange’s overall inclinations toward future listings.
Binance listed two DeFi-centric protocols that operate (at least partially) on Solana, with years of operation before a token launch.
Other than that, there aren’t many similarities; both projects have different core functions. Still, it’s useful to have additional data points for Binance listings.
Bitcoin (BTC) enters the second week of May trading in a fragile but critical zone, with conflicting technical signals and growing macro uncertainty shaping short-term expectations. While the ADX from the Directional Movement Index is rising, bearish pressure still dominates, and momentum remains weak across multiple indicators.
Although the price continues to hold above the $92,900 support level, weakening EMAs and the looming FOMC meeting leave Bitcoin’s $100,000 recovery path uncertain, but not out of reach.
BTC Trend Strength Rises, but Bears Still in Control
Bitcoin’s Directional Movement Index (DMI) is showing a notable shift.
The ADX, which measures the strength of a trend regardless of direction, has climbed sharply to 25.93, up from 15.97 just two days ago—crossing the key 25 threshold that signals a trend is starting to gain traction.
This rising ADX suggests that volatility is returning and a new directional move may be forming, even if the direction itself is still unclear.
Looking at the components of the DMI, +DI (bullish strength) has bounced to 12.2, up slightly from yesterday’s low of 8.67 but still down significantly from 21.31 three days ago.
Meanwhile, -DI (bearish strength) is at 19.17, slightly off its peak of 25.44 but still higher than three days ago. This indicates that although the recent bearish momentum has cooled somewhat, sellers still have the upper hand.
With ADX rising and -DI leading, Bitcoin could remain under pressure unless +DI recovers sharply in the coming days.
Bitcoin Trapped Below the Cloud as Momentum Stalls
The current Ichimoku Cloud chart for Bitcoin reflects a market in consolidation, with a slight bearish undertone. Price action is sitting very close to the blue Kijun-sen (baseline), which typically represents medium-term trend momentum.
Trading beneath this line suggests that BTC lacks the strength to reclaim bullish momentum in the short term. The white candlesticks hovering near the cloud’s lower boundary indicate indecision among traders, with no clear breakout in sight.
The green Kumo (cloud) itself is relatively thin at this stage, hinting at a fragile support zone that could easily be broken if bearish pressure returns.
Looking ahead, the red Senkou Span B—the top of the projected cloud—is acting as dynamic resistance, capping any upward attempts. For a stronger bullish signal, BTC would need to close decisively above both the Kijun-sen and the entire cloud.
Complicating matters further, the Tenkan-sen (conversion line) is flat and overlapping with the Kijun-sen, signaling weak momentum and a lack of direction. Flat Tenkan and Kijun lines often precede sideways movement or delayed trend development.
Until Bitcoin breaks convincingly above the cloud with rising volume, the current setup leans neutral to bearish, with price trapped in a zone of low conviction and limited momentum.
Bitcoin Holds Key Support as $100,000 Reclaim Hangs in the Balance
Bitcoin price has remained resilient above the $90,000 level since April 22, repeatedly holding support near $92,945 despite broader market uncertainty. The exponential moving averages (EMAs) still reflect a bullish structure, with short-term averages positioned above long-term ones.
However, there are early signs of weakening momentum, as the short-term EMAs have begun to slope downward—an indication that buyers may be losing strength soon.
If BTC fails to hold its key support, a drop toward $88,839 could follow, breaking the structure that has held for over two weeks.
Still, some analysts remain confident. Nick Purin, founder of The Coin Bureau, believes Bitcoin is well-positioned to reclaim the $100,000 mark, even as markets brace for volatility surrounding the upcoming FOMC meeting:
“It will be a volatile week. Firstly, we have the FOMC meeting tomorrow. While it’s pretty clear there will be no rate cuts, it’s what Chair Powell says that could move the markets. On top of that, trading volume is low and the long/short ratio is sitting at 50/50, which means that, yet again, BTC can swing in either direction from here. The good news is that there’s a great deal of buying interest around the $90,000-$93,000 range, so a dip to those levels is nothing to be concerned about – it will likely bounce back. And overall, the BTC/USD chart is looking strong as it continues to print higher lows.” – Purin told BeInCrypto.
Nick states how Fed next decisions could influence the market in the next months:
“If the Fed surprises with some dovish tones as well as guidance for rate cuts in June, there’s room for Bitcoin to rally all the way back up to that $100,000 level, which remains a liquidity magnet. But even if Powell strikes a hawkish tone, the impact on BTC will likely be minimal. There’s simply too much positive momentum – spot BTC ETFs are hoovering up assets, corporates are building up BTC treasuries and the correlation between Bitcoin and stocks is breaking down. On top of this, historic data shows that BTC has posted gains during nine out of the last 12 Mays. So, despite the likelihood of heightened volatility, the near future is looking promising. As such, following the old adage of ‘sell in May’ would be madness at this point.” – Purin told BeInCrypto.
A recovery in momentum could first drive BTC to retest resistance at $95,657, with a breakout potentially leading to $98,002 and eventually a challenge of the psychological $100,000 level.
With macro headwinds and technical crossroads converging this week, the next move will likely hinge on how BTC responds to its support zone and how broader market sentiment reacts to Fed commentary.
New Hampshire has made history as the first State in America to adopt the Strategic Bitcoin Reserve Bill into law. Months after Rep. Keith Ammon introduced the bill, it has now become law. The New Hampshire plan to gain exposure to Bitcoin is based on the model created by the Satoshi Action Fund, a firm affiliated with BTC bull Dennis Porter.
New Hampshire Breaks the Bitcoin Reserve Myth
According to the Press Release shared on X by Porter, the HB 302 Bill is now law, the first of its kind in the country. Under the new law, the State treasurer can buy Bitcoin and another digital asset with a market capitalization of at least $500 billion. Notably, only BTC fits this requirement.
Image Source: Dennis Porter on X
The New Hampshire BTC Bill was introduced in January and moved closer to adoption as the House assented in March. With the proposed law, the state can hold up to 5% of its funds in digital currencies.
The law also mandated US-regulated custody. Notably, the Bitcoin in the reserve has to be kept in a state-controlled Multisig with a qualified custodian. The State can also gain exposure to BTC through exchange-traded funds (ETF).
Meanwhile, this Bitcoin reserve Bill will not take effect until 60 days after Governor Ayotte signs it into law. This move from New Hampshire complements the general trend in the United States, where different regions are contemplating whether to proceed with crypto reserves.
In a contrarian move, Florida and Arizona recently took a different approach to their respective Bitcoin Reserve Bills. As reported by CoinGape, Arizona Governor Katie Hobbs vetoed the Bitcoin Bill, a controversial move that the industry criticized.
Update on the Federal Bitcoin Reserve Push
Conversations around States’ crypto adoption gained traction when President Donald Trump signed an Executive Order to establish the national crypto reserve in March. The plan at the time was controversial, as the initial template involved Bitcoin and altcoins like XRP and Ethereum as part of the reserve.
Even with the clarity secured later on, there is hardly a major update regarding the BTC adoption at the Federal level. Unlike the New Hampshire Bitcoin reserve move, the Federal government has chosen not to commit taxpayers’ money into the coin.
The reintroduced Bitcoin Act Bill from Senator Cynthia Lummis contains the legislative framework upon which the entire crypto adoption will be based. However, this Bill has not made it into law yet, leaving a lot of new possibilities for the top coin.
US Treasury Secretary Scott Bessent has again opposed the idea of a Central Bank Digital Currency (CBDC). He stated that he would not favor a move by the Federal Reserve to create one, calling it a sign of weakness.
Scott Bessent Opposes The Fed Creating A CBDC
While testifying before the House appropriations subcommittee, the US Treasury Secretary spoke against the idea of the Fed creating a digital currency. He called it a sign of weakness, noting that digital assets belong in the private sector.
This isn’t the first time that Scott Bessent has spoken against creating a CBDC. During his nomination hearing, he remarked that digital currencies are for countries with no other investment alternatives. The US Secretary also noted that countries like China have considered creating one, but there was no need for the US to create one.
US President Donald Trump has also shown that he doesn’t support the Fed creating a CBDC. Following his inauguration in January, the President signed an executive order prohibiting agencies from working towards establishing and issuing central bank digital currencies.
So far, Jerome Powell and the Fed have shown no indication of creating a CBDC, which Scott Bessent opposes. Instead, the Fed Chair has only called for stablecoin regulations to manage these cryptocurrencies as their use cases increase.
As Coingape reported, the US Senate will likely vote on the stablecoin bill before May 26. If passed, it would become the first major crypto regulation in the US. The US House is still deliberating on its version of the stablecoin legislation at the committee level, with key members like Rep Maxine Waters objecting to the bill.
Meanwhile, the crypto community is still waiting for Scott Bessent and the US Treasury to release their report on the proposed US Strategic Bitcoin Reserve. The Treasury is meant to outline a comprehensive plan for managing this reserve using the seized assets.
Tensions rose during a joint House hearing as Representative Maxine Waters strongly objected to a new crypto market structure bill. The legislation, backed by both Republicans and Democrats, aims to define oversight responsibilities in the digital asset sector. Waters, however, described the bill as part of what she called US President Donald Trump’s “crypto corruption.”
Maxine Waters Objects Crypto Market Structure Bill
A heated debate broke out during a joint hearing between the House Financial Services Committee and the House Agriculture Committee. Representative Maxine Waters voiced strong disapproval of the new crypto market structure bill. She criticized the bill’s timing and intent, urging fellow Democrats to walk out of the session in protest.
The crypto market structure bill has received bipartisan support, yet Waters argued it could enable unethical financial schemes tied to Donald Trump. “This bill paves the way for what I call Trump’s crypto corruption,” she said during the hearing. Her comments came as lawmakers from both parties continue to work on legislation aimed at bringing clarity to digital asset regulations.
Waters’ protest comes just as the GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins) was preparing to move forward in the Senate. Nine Democratic senators have now voiced their opposition to the bill in its current form. They called for stronger measures on money laundering, foreign influence, and national security.
Democrat Senators Withdraw Support for GENIUS Act
The group of senators that withdrew support includes Ruben Gallego, Andy Kim, Lisa Blunt Rochester, and Mark Warner. These lawmakers previously backed the bill during its advancement in the Senate Banking Committee. However, their new statement said the legislation needs more protections.
Senator Elizabeth Warren also withdrew her support, raising concerns over a potential financial benefit to Donald Trump through a linked stablecoin. Warren stated, “This legislation risks giving Trump an illegal windfall from his USD1 coin,” as she urged others in Congress to reject it.
Democratic co-sponsors Kirsten Gillibrand and Angela Alsobrooks have not signed onto the new statement. Still, the act’s future remains uncertain, with increasing concern over the involvement of private business interests.
Donald TRUMP Meme Coin Contest Raises Ethics Questions
Despite growing objections to the GENIUS Act and the crypto market structure bill, Donald Trump continues to promote a cryptocurrency-linked event. A dinner at Trump National in Washington, D.C., will take place later this month. Entry to the event is based on holdings of the $TRUMP meme token, and the top 220 token holders will be invited.
The event has raised ethical concerns from watchdog groups. Accountable.US described the contest as a “corrupt self-enrichment scheme,” warning that it allows wealthy or foreign actors to buy access to US President Donald Trump. The website hosting the contest also features a live leaderboard, showing top participants by token holdings.
The $TRUMP token’s developers are reportedly connected to World Liberty Financial, a crypto firm with ties to the Trump family. In addition, Zach Witkoff, son of Trump’s envoy Steve Witkoff, announced at a Dubai crypto event that a UAE-backed fund will invest $2 billion in the USD1 stablecoin, which is competing with Tether. USD1 is issued by World Liberty Financial, which is 60% owned by a Trump business entity.
In the joint meeting, critics including Stephen F. Lynch, the Representative from Massachusetts argue that the deal opens the door for foreign financial influence calling it “Shady”. The Trump family is entitled to 75% of revenue from USD1 token sales which has led to questions about how the crypto market structure bill and the GENIUS Act may benefit private entities over public interest.
The Solana network has recorded significant growth in daily active users fueled by memecoins.
SOL price is well positioned to rally above $170 if Bitcoin price reclaims $100k soon.
SOL Strategies Inc. (CSE: HODL), a Canadian company dedicated to the growth and development of the Solana blockchain, announced the purchase of 122,524 SOL worth about $18,250,730 at an average price of about $148.98 per coin. At the beginning of this month, SOL Strategies announced the closing of the initial $20 million of its $500 million convertible note facility.
“These purchases directly strengthen our three-pillar strategy of enterprise-grade validators, strategic SOL holdings, and Solana technology innovation,” Leah Wald, Chief Executive Officer of SOL Strategies, noted.
Major Factors Fueling Solana Network Growth
According to a recent report by VanEck, the meteoric growth of memecoins on the Solana network is the major driver of on-chain revenues. Furthermore, memecoin trading on the Solana network accounted for 44 percent and 35 percent of all decentralized exchanges (DEX) trading in January and April 2025 respectively.
“If we exclude stablecoins, SOL, and SOL liquid staking tokens, often on the other side of trades, memecoins represent 99% of Solana trading activity in January and 95% in April. While some question the sustainability of this trend, Solana has proven its unmatched ability to process large volumes of decentralized trading,” the report noted.
Meanwhile, market data analysis from Nansen shows that the top five Solana DeFi products – including Raydium, Fluxbeam, Pump.fun, and Jupiter – recorded over 239 million users in the past 30 days.
Midterm Expectations for SOL Price
After recording a palpable growth in April, Solana price has been trapped in a correction phase in the past two weeks. The large-cap altcoin, with a fully diluted valuation of about $85 billion and a total value locked of around $7.6 billion, dropped around 2 per in the past 24 hours to trade around $142 on Tuesday, May 6, during the mid-North American session.
From a technical analysis standpoint, the SOL price is well positioned to rally towards $174 if the buyers hold above $140 in the coming days. In case of a breach of the support level around $142, SOL price will drop towards the next liquidity level around $125.
The post SOL Strategies Buys 122k SOL Worth $18.2M: Can Solana Bulls Reclaim Momentum? appeared first on Coinpedia Fintech News
The Solana network has recorded significant growth in daily active users fueled by memecoins. SOL price is well positioned to rally above $170 if Bitcoin price reclaims $100k soon. SOL Strategies Inc. (CSE: HODL), a Canadian company dedicated to the growth and development of the Solana blockchain, announced the purchase of 122,524 SOL worth about …
