Ryan Salame, the former FTX executive sentenced to 7.5 years in prison, is seeking to have his conviction vacated, alleging that the government breached a plea deal. According to court filings, Salame agreed to plead guilty to campaign finance violations in exchange for the government dropping its investigation into his partner, Michelle Bond.
Bond, a former Republican congressional candidate and now a fintech think tank CEO, is under investigation by federal prosecutors for alleged campaign finance violations related to contributions made by Salame and others to her 2022 congressional campaign.
Salame’s attorneys argue that the government used the plea negotiations to coerce Salame into accepting a guilty plea by threatening to pursue charges against Bond. Despite Salame’s cooperation, the government allegedly failed to honor its implied commitment to drop the investigation.
The filing states that Salame is entitled to hold the government accountable for its assurance and is requesting that the court either withdraw his plea or order specific performance from the government.
Salame’s public stance on the matter remains defiant, as he expressed his hope that his court filing will encourage others to be honest and expose “un-American tactics.” He emphasized the importance of a just and fair justice system, highlighting the fragility of such institutions.
It's all true but I just made a court filing I'm pretty nervous about because I know it means the most powerful body in the world is going to come at me and my loved ones again, but I'm hoping it encourages more people to be honest and tell the truth and expose un-American…
This legal battle between Salame and the government sheds light on the complexities of plea deals and the potential for government overreach. As the case progresses, it will be interesting to see how the court responds to Salame’s claims and whether the government will be held accountable for its alleged breach of the plea agreement.
Shiba Inu (SHIB) has been experiencing mixed signals in recent weeks. The meme coin has made attempts to secure a breakout, but this effort hinges heavily on investor support.
Unfortunately, this support has been weak recently, forcing SHIB to rely on the broader market, particularly Bitcoin (BTC), for direction. If Bitcoin continues its upward trajectory, Shiba Inu may have a shot at a recovery rally.
Shiba Inu Needs Support
The MVRV Long/Short Difference for Shiba Inu is currently at a 6-month low, a key indicator suggesting that short-term holders are experiencing substantial profits.
This is a bearish sign for the cryptocurrency, as these investors are typically more inclined to sell when they are in profit. As a result, the potential for a sell-off is higher, and the price of Shiba Inu could take a hit as these holders exit their positions.
This behavior could put downward pressure on SHIB, limiting its chances of maintaining or building upon its recent gains. The lack of strong support from long-term holders, combined with the large profit-taking from short-term traders, creates an unstable market dynamic for Shiba Inu at present.
Shiba Inu’s correlation with Bitcoin remains strong, currently sitting at 0.77. This indicates that SHIB tends to move in tandem with Bitcoin, and as the largest cryptocurrency gradually recovers, Shiba Inu could follow suit.
Bitcoin’s potential rally toward the $90,000 mark would likely provide the necessary boost for SHIB to continue its own recovery.
If Bitcoin breaches the $90,000 level, it will instill further confidence in the broader cryptocurrency market. This, in turn, could help lift Shiba Inu from its current consolidation phase, giving it the momentum needed to push past key resistance levels.
Shiba Inu Correlation To Bitcoin. Source: IntoTheBlock
SHIB Price Is Aiming At Recovery
At the time of writing, Shiba Inu is trading at $0.00001296, just above its support level of $0.00001275. The altcoin is attempting to hold this support and bounce off it, but its ability to maintain this level depends on market conditions.
Should Bitcoin rise further, Shiba Inu may find some support to reach or surpass the $0.00001462 barrier. However, if Bitcoin experiences a slip, SHIB will likely remain consolidated around $0.00001275 or potentially fall to $0.00001141, depending on the strength of the bearish pressure.
The only way this bearish-neutral outlook would be invalidated is if Shiba Inu breaks through the $0.00001462 resistance and flips it into support.
A successful rally above this level could pave the way for SHIB to rise to $0.00001676 and beyond, marking the start of a more bullish trend for the meme coin.
Hedera’s HBAR has bucked the broader market dip to record a slight 1% rally over the past 24 hours. As of this writing, the altcoin trades at $0.17.
This upward movement comes amidst signs of a resurgence in new demand for the altcoin, as highlighted by key technical indicators on the daily chart.
HBAR Bullish Trend Gains Strength
Readings from HBAR’s Moving Average Convergence Divergence (MACD) reveal that on April 9, the token’s MACD line (blue) climbed above its signal line (orange), forming a “golden cross.”
A golden cross occurs when the MACD line crosses above the signal line, signaling a potential bullish trend and increased buying pressure. This confirms that HBAR’s upward momentum is gaining strength, especially as investors commonly view this pattern as a buy signal.
Moreover, as of this writing, HBAR’s Relative Strength Index (RSI) is poised to break above the 50-neutral line, highlighting the spike in fresh demand for the altcoin. It is currently at 49.17 and remains in an uptrend.
The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound.
At 49.17 and climbing, HBAR’s RSI signals a gradual shift from bearish territory into a more neutral zone. If the altcoin’s RSI continues to rise above 50, it would signal increasing bullish sentiment, driving up HBAR’s value.
HBAR Eyes $0.19 Amid Strong Buying Pressure
HBAR’s surge over the past day has pushed its price above the key resistance formed at $0.16, which has kept the token in a downtrend since March 30.
With growing buying pressure, the token could flip this zone into a support floor. If successful, it could propel HBAR’s price to $0.19.
Bitcoin (BTC) is up more than 7% over the past seven days, holding firm above the $100,000 level and showing signs of continued bullish momentum. However, recent whale activity paints a more cautious picture, with only a slight increase in large holders and mixed signals over the past month.
While the Ichimoku Cloud and EMA indicators remain supportive, they also reflect a market lacking strong conviction. With key resistance and support levels in focus, BTC’s next move could determine whether it pushes toward new highs or risks falling back below six figures.
BTC Whales Inch Up, but Confidence Still Mixed
The number of Bitcoin whales—wallets holding between 1,000 and 10,000 BTC—has slightly increased, rising to 2,012 as of today, up from 2,009 on May 9.
While this uptick may appear marginal, whale activity is closely monitored by analysts and investors because these large holders often influence market direction through significant transactions.
Whale accumulation typically reflects growing confidence in Bitcoin’s medium- to long-term outlook, while reductions in holdings can signal caution or profit-taking.
That said, the current pace of growth in whale numbers remains modest, and their activity has been far from stable over the last 30 days.
The last month has shown mixed signals, with whales alternating between accumulation and distribution amid macro uncertainty and volatile price action, as all 12 Bitcoin ETFs see red as the market shrugs off $96 million exit in the last 24 hours, their biggest single-day outflow since April 16.
This inconsistency suggests that, despite the slight rise in recent days, major players are still navigating the market cautiously rather than committing to a sustained buying trend, despite some analysts stating that Bitcoin could reach a new all-time high soon.
Bitcoin Holds Above Cloud, But Momentum Slows
The Ichimoku Cloud chart for Bitcoin currently shows a relatively neutral-to-bullish setup. Price candles sit just above the Kijun-sen (red line) and Tenkan-sen (blue line), indicating that short-term support is holding for now.
The cloud (Kumo) ahead is bullish, with the Senkou Span A (green cloud boundary) positioned above the Senkou Span B (red cloud boundary), reflecting a positive forward-looking trend.
The Chikou Span (lagging green line) remains above the price from 26 periods ago, signaling cautious bullish sentiment.
Price is still above the cloud, which is a bullish zone, but sideways action and a narrowing gap between the Tenkan-sen and Kijun-sen show indecision.
For the uptrend to gain strength, the blue line must cross above the red line clearly, with a thicker and steeper cloud forming ahead.
Key Levels to Watch: Bitcoin’s Next Move After Holding $100,000
Bitcoin price has been steadily holding above the key psychological level of $100,000 for the past six days, with its EMA lines indicating a clear uptrend—short-term averages are positioned above long-term ones, signaling sustained bullish momentum.
If BTC can break above the immediate resistance at $105,705, it could trigger another leg up toward $107,038.
