Bitcoin (BTC) finally printed $100,000 on major exchanges for the first time since February, before retreating slightly as profit‑taking set in.
The breakout gathered pace as the Federal Reserve’s interest rates remained stable, and President Trump announced positive developments in the tariff deals with multiple countries.
Donald Trump Signs a Trade Deal With the UK
Today, Trump announced the first deal since his administration’s sweeping tariff program began last month. The US president said that his government reached an agreement with the UK, and several other deals are in the final stages.
The agreement with the United Kingdom is a full and comprehensive one that will cement the relationship between the United States and the United Kingdom for many years to come. Because of our long time history and allegiance together, it is a great honor to have the United…
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) May 8, 2025
A Reuters report indicates the agreement will reduce US‑UK duties on steel and autos, easing supply‑chain inflation fears that have dogged risk assets since the tariff shock.
Risk‑on sentiment spilled into crypto, with more than $492 million in short positions liquidated across derivatives venues in the past 24 hours, according to CoinGlass data.
Traders now eye $105,000 as the next resistance. Should Trump’s deal materialize without surprises, bulls argue the path to $120,000 could open quickly
Ethereum, the world’s leading blockchain platform, will deploy the Pectra upgrade on its mainnet, scheduled for rollout on May 7, 2025.
The Pectra upgrade enhances the network’s performance and scalability and introduces groundbreaking features, particularly with EIP-7702, making Ethereum more user-friendly and secure.
Ethereum Pectra Upgrade Timeline Confirmed
Tim Beiko, a key figure in Ethereum’s development team, announced on X that the Pectra upgrade will officially launch on the mainnet on May 7, 2025, at epoch 364032. Initially planned for April 30, the upgrade was delayed due to technical issues on the testnet.
This cautious approach shows Ethereum’s commitment to stability and security, ensuring seamless network operation post-upgrade. Coinbase has also begun preparations to support the upgrade, ensuring necessary updates are implemented promptly after Pectra’s launch.
Pectra is Ethereum’s most significant upgrade, incorporating 11 Ethereum Improvement Proposals (EIPs). It builds on major upgrades like Dencun (March 2024), focusing on improving Layer 2 (L2) scalability, optimizing validator experiences, and enhancing user-friendliness.
These changes solidify Ethereum’s leadership while laying the groundwork for decentralized applications (dApps) to thrive.
Tim Beiko: Key Highlights of the Pectra Upgrade
Tim Beiko tweeted an overview of the upcoming Pectra update, with some notable highlights. One of Pectra’s standout features is EIP-7702, which extends standard Ethereum accounts (EOAs) with smart contract functionality.
“EIP-7702 enables use cases like transaction batching, gas sponsorship, or social recovery, all without migrating your assets” Tim tweeted.
Pectra also introduces several improvements for validators. Validators can increase their effective balance up to 2048 ETH, allowing them to accrue staking rewards directly without creating additional validators. Large validators can consolidate balances, reducing bandwidth strain on the P2P network.
“It also removes the pre-merge PoW follow distance, shortening the delay to process validator deposits, and introduces execution-layer triggerable withdrawals, which enable more trustless staking constructions.” Tim shared.
The Pectra upgrade will double the average number of blobs per block, from 3 to 6. This increase will enable L2 solutions to scale faster, meeting growing market demands. It’s a critical step in Ethereum’s scalability roadmap, especially as L2 platforms like Arbitrum and Optimism continue to grow.
“Raising this limit was in part possible due to another EIP (7623), which bounds the worst-case block sizes on the network!’ Tim tweeted.
Significance for the Ethereum Ecosystem
Pectra is a strategic leap forward for Ethereum to maintain its dominance in the blockchain space. By increasing blob capacity and improving validator efficiency, Ethereum can handle more transactions per second, fostering dApp growth and attracting new users.
These changes will better position Ethereum to meet future demands while providing an infrastructure for developers.
The Pectra upgrade has garnered positive feedback from the Ethereum community. In Tim Beiko’s announcement, some X users expressed excitement. However, one user noted the need for better public education, stating, “Too bad 99% of people have no idea what that means.”
Hedera (HBAR) is down 10.5% over the last seven days, as technical and derivative indicators point to growing weakness. Futures volume has fallen below $100 million for five straight days, signaling a sharp decline in speculative interest compared to March’s $1.3 billion peak.
Despite historically tracking Bitcoin’s moves closely, HBAR has underperformed during BTC’s recent rally, gaining just 0.75% in the past 30 days. With EMA lines still bearish and price nearing critical support at $0.18, HBAR faces a key test that could define its direction heading into June.
HBAR Futures Volume Falls Below $100 Million – What Does it Mean?
HBAR futures volume has dropped to $96.5 million and has remained under the $100 million mark for the past five consecutive days, marking a sharp contrast to the elevated levels seen earlier this year.
Back on March 1, futures volume peaked at $1.3 billion, but since then, both volume and open interest have steadily declined.
HBAR futures allow traders to speculate on the token’s future price, and their activity often reflects broader sentiment and risk appetite from both retail and institutional participants.
The recent drop points to waning speculative interest, potentially signaling caution or lack of conviction in Hedera’s short-term price direction.
With the 7-day EMA of HBAR futures volume now at its lowest in three months, the data suggests current price action may be increasingly driven by spot demand rather than leveraged positioning.
This shift in market structure could mean reduced volatility and a more organic price trend in the near term. However, without a rebound in derivatives activity, any upward moves may lack the momentum typically provided by aggressive speculative inflows.
Hedera Lags Behind BTC Rally—Will It Catch Up in June?
Historically, HBAR price has shown a strong positive correlation with Bitcoin (BTC), often amplifying the broader market’s moves.
However, over the past 30 days, that relationship appears to have weakened—BTC is up 14.3%, while HBAR has gained just 0.75% over the same period.
BTC and HBAR Performance in the last 30 Days. Source: Messari.
This divergence suggests that HBAR has not yet responded to the recent bullish momentum in the crypto market, despite typically being a higher-beta asset.
In previous cycles, HBAR has often outperformed BTC during rallies but also faced steeper declines during broader market corrections, reflecting its sensitivity to shifts in sentiment.
If Bitcoin reaches new highs in June, HBAR could be well-positioned for a sharper move upward, as it did during past surges.
HBAR Approaches $0.18 Support as Bearish EMA Setup Persists
HBAR’s EMA structure remains bearish, with short-term exponential moving averages still positioned below long-term ones—a classic sign of ongoing downward momentum.
The token has been trading below the $0.20 mark for the past six days, reflecting sustained pressure and a lack of bullish follow-through.
This setup reinforces the cautious sentiment surrounding HBAR as it hovers near key technical levels.
Currently, HBAR is approaching the critical support at $0.18, and losing this level would mark its first break below that threshold since May 8.
However, if the market turns and momentum improves in June, HBAR could break back above $0.20, with room to rally toward $0.25—an area it hasn’t touched since early March.
