Bitcoin Nears $100,000 Amid Trade Deal Optimism; Fed Holds Rates Steady
Key Takeaways
- Bitcoin nears $100,000 amid US-China trade deal optimism and dovish Fed signals.
- Arthur Hayes predicts Bitcoin will reach $1 million by 2028, citing US Treasury actions.
- Strive merging to become publicly traded Bitcoin treasury, aiming to raise up to $1B.
- New Hampshire passes bill allowing the state to purchase Bitcoin and alternative digital assets.
- Bitcoin dominance hits 65%, reaching a 4-year high in the cryptocurrency market.
Top Stories
Bitcoin nears $100,000 amid trade deal optimism.
On May 8, 2025, Bitcoin's price approached $100,000, fueled by optimism surrounding a potential US-China trade deal hinted at by Donald Trump and dovish signals from the Federal Reserve. The Wall Street Journal suggests the deal might be a preliminary framework.
Bitcoin trades above $96,000 after Federal Reserve decision.
On May 7, 2025, Bitcoin traded above $96,000, up 1.6% over the past 24 hours, following the Federal Reserve's decision to hold its benchmark interest rate steady. Bitcoin briefly touched $97,500 on optimism around U.S.-China trade talks before settling back to $96,500.
Arthur Hayes predicts Bitcoin at $1 million by 2028.
On May 8, 2025, Arthur Hayes, former BitMEX CEO, predicted Bitcoin will reach $1 million by 2028. He cited the U.S. Treasury's role in managing global liquidity and anticipated a U.S.-China trade deal with economic shifts driven by China's capital controls and foreign investment taxes.
Strive merging to become publicly traded Bitcoin treasury.
On May 7, 2025, Strive Asset Management announced it is merging with NASDAQ-listed Asset Entities (ASST) to become a publicly traded Bitcoin (BTC) Treasury Company. The combined company plans to stockpile Bitcoin and offer tax-free equity swaps to accredited holders, aiming to raise up to $1B to accumulate Bitcoin through equity and debt and will operate under the Strive name, listed on the NASDAQ.
New Hampshire passes bill allowing Bitcoin purchase.
On May 8, 2025, it was reported that New Hampshire passed the nation’s first state-level reserve bill into law on Tuesday, allowing the state to purchase both bitcoin and alternative digital assets.
Bitcoin dominance hits 65%, a 4-year high.
On May 6, 2025, it was reported that Bitcoin Dominance Hit 65%, the highest in 4 years.
Regulation Front
UK to ban Bitcoin purchases with credit cards.
Adoption News
Metaplanet adds $53 million in Bitcoin.
On May 7, 2025, Metaplanet added $53 million in Bitcoin after its recent mega BTC purchase.
Trump crypto advisor in talks for Bitcoin investment company.
On May 7, 2025, it was reported that Trump crypto advisor David Bailey is in talks to launch a Bitcoin investment company.
Price Watch
Bitcoin profit returns as price hits two-month high.
On May 7, 2025, it was reported that Bitcoin (BTC) profits are returning as the price reaches a two-month high.
Coinbase premium shows bearish divergence from Bitcoin price.
On May 8, 2025, reports indicated that the Coinbase premium has shown bearish divergence from the Bitcoin price since late April, suggesting a potential weakening in momentum.
Bitcoin chart patterns mirror pre-2024 rally.
On May 7, 2025, CoinDesk published an article noting that Bitcoin's recent chart patterns mirror those preceding the late 2024 rally from $70,000 to $109,000.
MACD and death cross patterns trap Bitcoin bears.
On May 7, 2025, it was reported that MACD and death cross patterns recently trapped bears, mirroring a pattern observed in August-September 2024.
Potential golden cross signals bullish Bitcoin trend.
On May 7, 2025, it was noted that a potential golden cross in the coming weeks could signal a bullish trend, similar to the pattern observed last year, as the 50-day SMA has begun to rise again and could soon cross above the 200-day SMA.
Bitcoin bounces back after MACD flip and death cross.
On May 7, 2025, reports indicated that after the MACD flipped negative in mid-February 2025, Bitcoin initially fell but found support at the 50-week simple moving average (SMA) in March and has since bounced back above $90K, while the MACD has held below zero. Around four weeks prior, the 50- and 200-day SMAs formed a bearish crossover (death cross), but Bitcoin found support around $75K and reversed course, reminiscent of August and September 2024 patterns.
Tech Advancements
Revolut to introduce Bitcoin Lightning payments in Europe.
On May 7, 2025, it was reported that Revolut, a financial technology company, will introduce Bitcoin Lightning payments for its European users through Lightspark, allowing for faster and potentially cheaper Bitcoin transactions.
Strike to offer BTC lending.
On May 7, 2025, it was reported that Bitcoin payments app Strike will offer BTC lending in boost to reemergent sector.
Market Pulse
Bitcoin accumulation strengthens as BTC nears resistance.
Bitcoin nearing highest level against S&P 500.
On May 7, 2025, it was noted that Bitcoin is nearing its highest level against the S&P 500, but also highlights a potential caveat.
Market accepts Bitcoin as 'digital gold'.
On May 7, 2025, it was reported that the market's reaction to Trump's tariffs signals a broader acceptance of Bitcoin's “digital gold” narrative.