Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.

BTC Hovers Around $104K on Positive Weekend Macro Headlines

Bitcoin hovered around $104K on Monday but jumped to just shy of $105K at one time on Saturday, its highest level since late January. Likely most responsible for the move was a President Trump Truth Social post regarding trade talks being held in Switzerland between the U.S. and China.

Crypto shares rallied in overnight trading. SOS Limited up 10.5%; Canaan up 8.5%; Bit Digital, Riot Platforms up more than 4%; MARA Holdings, Coinbase up around 3%.

Coinbase Considered, Decided Against Michael Saylor’s Bitcoin Buying Strategy

Coinbase Global Inc. was tempted in the past to go all in on the Bitcoin buying strategy popularized by Michael Saylor but considered the scheme too risky.

“There were definitely moments over the last 12 years where we thought, man, should we put 80% of our balance sheet into crypto — into Bitcoin specifically,” Brian Armstrong, co—founder and chief executive officer of the largest US crypto exchange, said during a video talk on the X social network on Friday.

Coinbase ultimately decided against the gambit as it risked damaging the firm’s cash position as a startup, and could have potentially “killed” the San Francisco-based company, Armstrong said. “We made a conscious choice about risk.”

Senators Press Treasury, DOJ About Binance’s Ties to Trump

Democratic senators including Maryland’s Chris Van Hollen and Massachusetts’ Elizabeth Warren are demanding answers from top federal officials about ties between crypto giant Binance and Trump family-related digital asset ventures.

In a letter sent Friday to Treasury Secretary Scott Bessent and Attorney General Pam Bondi, the senators raised concerns about President Donald Trump’s connection to an exchange that was found guilty of violating US money laundering and sanction laws. Senators Sheldon Whitehouse of Rhode Island and Richard Blumenthal of Connecticut also signed the letter.

Ether Surges 30% in Best Week Since 2021 as Trade Tensions Ease

Ether led a broad cryptocurrency rally this week, heading for its strongest gains since 2021, bolstered by easing global trade tensions and optimism over a network upgrade.

The second-largest digital token by market value jumped as much as 14% on Friday to $2,490, extending its weekly advance to nearly 33%. That marks its steepest weekly gain since 2021, when speculative excesses and low interest rates fueled the pandemic-era crypto boom.

Cathie Wood Stands Firm on Bold $700,000 Bitcoin Prediction for Investors

In a recent reaffirmation of her bullish stance, ARK Invest CEO Cathie Wood has once again predicted that Bitcoin will hit a minimum of $700,000 in the coming years.

Speaking at a recent interview, Wood reiterated ARK’s forecast of a minimum 580% surge in Bitcoin’s current value by 2030.

She detailed, “We have always had a 2030 target, the base case in the $700,000 to $750,000 range, the bull case in the $1.5 million range.”

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Friday was $321.46 million. The total net asset value of Bitcoin spot ETFs is $121.19 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.91%.

The Bitcoin spot ETF with the highest net inflow on May. 9 was iShares Bitcoin Trust, with a net inflow of $356.2 million. Following that was Fidelity Wise Origin Bitcoin Fund, with a net inflow of $45 million, according to SoSoValue.