In a 70-28 vote, the U.S. Senate has approved a resolution to repeal the IRS’s controversial DeFi broker rule. The rule, which aimed to impose stricter tax reporting requirements on decentralized finance (DeFi) transactions, faced strong opposition from the crypto community. With the Senate’s decision, the resolution now moves to President Trump, who will decide whether to sign or veto it. The outcome could significantly impact the future of DeFi regulations in the U.S.
April 2025 marks the launch of one of the most anticipated events in the crypto world: Gate.io’s World Crypto Trading Competition Season 7 (WCTC S7). Recognized as one of the most prestigious trading competitions globally, WCTC S7 introduces innovative formats, generous rewards, and diverse activities to offer an unparalleled trading experience for crypto enthusiasts worldwide.
Racing to the Top: Showcasing Gate.io’s Commitment to Excellence
As one of the global leaders in digital asset trading, Gate.io has demonstrated impressive growth in recent years, now boasting over 22 million registered users. Its spot and futures trading businesses rank among the Top 2 and Top 5 globally, respectively.
With continued advancements in product experience, asset security, innovation, and global expansion, Gate.io has earned the trust of traders around the world.
In terms of brand building, Gate.io continues to make significant strides. Over the past two years, the platform has sponsored multiple international sports brands and, in 2025, officially became a sponsor of Oracle Red Bull Racing in F1. Known for its speed, technology, and pursuit of excellence, F1 shares a natural synergy with the world of crypto trading.
Inspired by this spirit, WCTC S7 adopts an F1-themed design to symbolize Gate.io’s core trading philosophy: speed, precision, and stability. F1 is more than a sport — it is a symbol of pushing limits and striving for greatness. Gate.io brings this spirit into the world of cryptocurrency trading, making WCTC S7 not just a competition, but a world-class event for global traders.
Top-Tier Competition: $5 Million Dynamic Prize Pool
Early bird registration for Gate.io WCTC S7 officially opened on April 15, with a dynamic prize pool of up to $5 million. This season features both team and individual competitions, alongside exciting events like surprise airdrops, offering participants multiple ways to engage and win.
Competition Timeline:
Early Bird Registration: April 15, 00:00 – April 21, 00:00 (UTC)
Lucky Bags Rain: April 15, 00:00 – June 8, 00:00 (UTC)
Official Registration: April 21, 00:00 – June 8, 00:00 (UTC)
Individual Competition: May 7, 00:00 – June 8, 00:00 (UTC)
Team Competition(First Half): May 7, 00:00 – May 23, 00:00 (UTC)
Team Competition(Second Half): May 23, 00:00 – June 8, 00:00 (UTC)
Team Battle: Two-Stage Challenge for the Ultimate Prize
The team competition accounts for 80% of the total prize pool, with up to $4 million to be shared. It introduces a “two-stage” system, resetting performance data halfway through the competition. This allows teams to recalibrate strategies and compete for Top 20 rankings in each stage independently.
In addition, the team with the highest total trading volume will win the grand prize — a Ford Mustang GT, an iconic symbol of victory and prestige.
Individual Competition: Tiered Rewards for 1,000+ Traders
The individual competition accounts for 20% of the prize pool, offering up to $1 million in rewards. Based on cumulative trading volume, the top 300 participants will share $1 million in cash, with higher ranks earning greater rewards. Participants ranked 301–700 will receive exclusive merchandise bundles, while those ranked 701–1000 will share $20,000 worth of Futures Vouchers.
Airdrop Showers: 100% Winning Rate and Collectible Fragment Game
During the competition, participants can join airdrop events with a guaranteed 100% winning rate. Prizes include trading fee rebate vouchers, Futures Vouchers, and chances to win physical rewards through “Hourly Airdrops” and “Super Airdrops,” featuring fragments of iPhone 16 Pro Max, popular tokens, and fragments of limited-edition merchandise like jackets and co-branded insulated bottles.
Participants can also collect WCTC S7-exclusive fragments to share a $10,000 Futures Voucher Pool.
Accessible for All: Balancing Inclusivity and Exclusivity
The competition is designed for broad participation. Whether joining a team or individual contests, users can choose according to their preferences. The “every participant wins” design of the airdrop event ensures that even newcomers can easily join and win prizes, while the collectible fragment gameplay offers seasoned traders a deeper and more engaging experience.
Join WCTC S7 and Embark on Your Journey to Glory
Gate.io WCTC S7 is now underway, welcoming traders from all corners of the world. Here, you’ll compete alongside top traders globally. Here, you’ll have the chance to share in a $5 million prize pool. Here, you’ll experience an unprecedented trading extravaganza.
Whether you’re a newcomer or a seasoned trader, WCTC S7 offers the perfect stage to showcase your skills. Sign up now to be part of WCTC S7, chase your trading dreams, and embark on your journey to glory. For more details, please check the official announcement link.
Disclaimer
The content herein does not constitute any offer, solicitation, or recommendation. You should always seek independent professional advice before making any investment decisions. Please be noted that Gate.io may restrict or prohibit the use of all or a portion of the Services from Restricted Locations. For more information, please read the User Agreement.
Bitcoin (BTC) price performed underwhelmingly on Thursday, posting a mild 2% dip before stabilizing at $89,000 while the aggregate market cap rose by 6%. With Bitcoin market dominance down, early media chatter suggests the upcoming White House crypto summit scheduled for Friday, is expected to drive another wave of volatile price action in the days ahead.
Bitcoin Faces Stiff Resistance at $93,000 as Traders Rotate Into Altcoins
Bitcoin (BTC) performance on Thursday was underwhelming despite bullish sentiment across global financial markets, including cryptocurrencies.
BTC price formed a local bottom at $81,400 on Wednesday, before rebounding 14% after the U.S. Secretary of Commerce hinted that Trump may ease the 25% tariffs imposed on Canada and Mexico.
Bitcoin Price Action
However, Bitcoin bulls encountered resistance at $92,790, prompting traders to shift capital toward other high-performing assets. The latest charts indicate BTC has since retraced 4% to $88,900 at press time, signaling hesitation ahead of key macro developments.
Bitcoin Market Dominance Dips as Investors Bet on Altcoins Ahead of White House Crypto Summit
When Bitcoin underperforms the broader market, it often signals shifts in investor sentiment and risk appetite. In alignment with recent trends, the upcoming White House Crypto Summit has become a dominant discussion point among traders.
Following the announcement of the U.S. Crypto Strategic Reserve last weekend, altcoins outperformed Bitcoin’s 13% price gain.
Notably, Cardano (ADA) surged 100% within 24 hours of the announcement. Investors now anticipate that if the White House summit delivers favorable regulatory measures or investment plans for the reserve, altcoins could see another explosive rally.
Bitcoin Dominance (BTC.D) | March 6
Bitcoin dominance (BTC.D) has plunged 5% since Trump announced the Crypto Strategic Reserve on March 2. On Thursday, BTC.D fell 0.6 percentage points to 61.28%, indicating investors are rotating capital into altcoins, betting that regulatory clarity could fuel short-term gains beyond BTC.
David Sacks, Trump’s newly appointed Crypto Czar, has criticized the Biden administration for what he calls a massive financial blunder. Sacks pointed out that the U.S. government auctioned off 195,000 BTC over the past decade for just $366 million, missing out on $17 billion in potential profits as Bitcoin surged 4,500% since those sales.
“The Biden administration had a golden opportunity and fumbled it,”
Trump’s Crypto Czar, David Sacks, hinting that over 195,000 BTC that could have been added to US reserves, March 5, 2025.
With the White House Crypto Summit kicking off within 24 hours, expectations are mounting that the Trump administration could introduce expansive crypto-friendly policies, potentially reshaping U.S. digital asset regulation.
Bitcoin Price Forecast: Death Cross Flashes Short-term Risk Signals as BTC Fails $93,000 Test
Bitcoin price forecast show that BTC currently hovers around $89,112, showing signs of weakness as bearish momentum gains traction. The Super SMA 5-8-13 crossover indicates a Death Cross, with the 5-period SMA ($89,626) slipping below the 8-period ($88,864) and 13-period ($88,171).
This bearish alignment suggests a potential continuation of the downtrend, with BTC at risk of retesting the $80,727 support marked by the Parabolic SAR.
Bitcoin Price Forecast
Momentum indicators confirm downside risks. The MACD histogram has entered positive territory, yet the MACD line at -934 remains below the signal line at -1,663, suggesting a lack of bullish conviction.
The previous rally failed to breach key resistance, reinforcing sellers’ dominance as volume on the latest red candle suggests strong rejection above $90,000.
A decisive break below $88,171 could trigger cascading sell orders, driving BTC toward $84,000, with $80,727 as the next major support.
However, if bulls reclaim $89,626, Bitcoin could aim for a reversal, targeting $92,500 before challenging $97,500. Failure to reclaim momentum risks accelerated liquidation, reinforcing the bearish structure hinted at by the recent Death Cross.
Mantra (OM) is down 20% over the last 30 days and 5% today. Despite this recent correction, it remains the second-largest RWA (real-world asset) token in the market.
The technical outlook shows growing signs of weakness, with indicators suggesting the current consolidation could shift into a downtrend. At the same time, key support levels are being tested, and a potential death cross is forming on the EMA chart.
Mantra ADX Shows The Current Consolidation Could Change
Mantra’s ADX is currently at 22.96, a drop from 26.5 just a day ago, signaling a weakening trend. The ADX, or Average Directional Index, measures the strength of a trend without indicating its direction.
Readings below 20 generally suggest a weak or non-trending market, while values above 25 indicate a strong trend is forming or in progress.
Ichimoku Cloud Shows A Bearish Trend Could Intensify
Mantra’s Ichimoku Cloud chart currently shows a market in hesitation, with the price moving along the edge of the cloud. This positioning reflects a state of consolidation, where neither buyers nor sellers have full control, as Mantra keeps its position as the second biggest RWA coin in the market.
The Tenkan-sen (blue) and Kijun-sen (red) lines are flat and close together, a typical sign of weak momentum and sideways movement in the short term. This setup often precedes a breakout, but the direction remains uncertain until a clear move occurs.
The future cloud is thin and has turned slightly bearish (red). It indicates that support ahead is weak and could be easily broken if selling pressure increases.
While the price hasn’t decisively broken below the cloud yet, any further downside could shift the bias toward a confirmed downtrend. For now, OM remains in a vulnerable position. Traders will be watching closely to see if the cloud acts as support—or gives way.
Can Mantra Fall Below $6 Soon?
MANTRA’s EMA lines are signaling potential weakness, with a possible death cross forming soon—a bearish pattern in which short-term moving averages cross below long-term ones.
If this pattern is confirmed and downward pressure increases, OM could fall to test the support at $6.15. A break below that level may lead to a further drop toward $5.85, signaling a deeper correction phase in the absence of renewed bullish momentum.
