High-risk cryptocurrency trader James Wynn is making a U-turn with his Bitcoin gamble. After closing his $1.2B BTC long position, the Hyperliquid trader has opened a new $111 million Bitcoin short with a liquidation price at $149,100. James Wynn Bets Against A Bitcoin Rally With $111 Million Short James Wynn has rocked the ecosystem with a $111.8 million short position on 1,038 BTC hours after closing his previous long position. According to an X post by Whale Insider, the Hyperliquid high-risk trader faces liquidation at $149,1000 with a 40X leverage. The perpetual futures trade follows the closing of a $1.2 billion Bitcoin long position over the weekend. James Wynn faced liquidation at $105K, with experts like CrediBULL Crypto betting against the high-risk trader. Barely 24 hours ago, James Wynn predicted Bitcoin price to climb as high as $121,000, setting a new all-time high this week. However, the new short position… Read More at Coingape.com
Asset manager VanEck’s BNB ETF filing has sparked a flurry of speculation, with Bloomberg analyst Eric Balchunas’ comments fueling further debate about the potential motivations behind the move. The analyst has put forth an intriguing theory, suggesting a possible link between VanEck’s BNB ETF filing and a critical statement made by Binance founder Changpeng Zhao.
Notably, Eric Balchunas draws attention to his wild estimation that Changpeng Zhao’s recommendation to include Binance Coin (BNB) in the US crypto reserve has influenced VanEck’s decision.
What’s Binance Founder’s Role in VanEck’s BNB ETF Filing?
In a recent X post, Bloomberg analyst Eric Balchunas provided a wild theory suggesting a possible reason for VanEck’s latest decision to launch a BNB ETF, sparking debate. According to him, VanEck’s ETF move is largely influenced by Binance Founder Changpeng Zhao’s (CZ) advice to accept BNB as a crypto reserve. Balchunas stated,
If you heard CZ speak last week, he said he is advising multiple governments on establishing crypto reserves and looks like he advising BNB be part of the reserve. IMO maybe that’s what caught Jan VanEck’s attn and acted on it. Again, just a theory but it’s a pretty damn logical one.
VanEck BNB Filing: Market Reaction and Implications
Significantly, VanEck’s decision to launch the first ETF linked to Binance’s native token BNB has sparked intense debate within the crypto market. These discussions have been intensified with the Binance founder’s alleged connection with the move, as highlighted by the Bloomberg analyst.
Regulatory Concerns
Moreover, the ETF filing has raised significant regulatory concerns, with critics questioning Binance’s centralized control over the token. As part of the criticism, some call this a “crypto on crypto crime.” Further, the involvement of CZ in advising governments on cryptocurrency reserves, potentially including BNB, adds fuel to the fire, sparking fears of potential regulatory backlash given Binance’s past legal challenges.
Potential BNB Price Movements
Despite prevailing criticisms and debates, the potential Binance Coin ETF launch could spark a price rally for the BNB token. Currently trading at $597.96, up 0.24%, BNB is reportedly poised for a price surge following the ETF launch. If approved, the ETF could drive significant institutional inflows, potentially pushing BNB prices higher, reaching an all-time high of $790.
The Pi Foundation today announced the launch of Pi Network Ventures, a $100 million development initiative aimed at investing in startups and businesses that drive Pi adoption and utility.
The fund will be split between Pi tokens and US dollars, sourced from 10% of the PI supply allocated for foundation reserves.
Pi Network’s $100 Million Venture to Improve Utility
The initiative comes shortly after Pi Network’s Open Network launch, which enabled external connectivity. Pi Network Ventures will support early-stage to Series B companies that integrate Pi into products, services, or business processes. Investments will focus on sectors beyond crypto, including AI, fintech, ecommerce, embedded payments, and consumer applications.
Unlike typical blockchain venture funds, Pi Network Ventures plans to operate with Silicon Valley-style sourcing, selection, and vetting processes. Most investments will be made directly in Pi tokens rather than fiat, aligning incentives with Pi’s ecosystem growth.
The Pi Foundation emphasized that the fund’s goal is to accelerate real-world use cases of Pi and strengthen network effects among its tens of millions of KYC-verified users. The $100M is not guaranteed to be fully deployed and will be invested over time depending on the quality and number of applicants.
This marks a major development step as Pi seeks broader real-world integration and decentralized utility expansion.
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.
