Esteemed analyst Darkfost noted that this marked the most drastic change in trader behavior on Binance in 2025. As the political row drew more attention, traders reacted promptly, interpreting the event as a risk-off signal. The impact was instantaneous in the derivatives market, with Binance’s net taker volume plummeting from $20 million to -$135 million within eight hours.

This marked the largest net taker volume reduction of the year, underscoring crypto traders’ sensitivity to political events. Although Bitcoin is currently holding key levels, market participants are keenly observing whether this pullback will deepen or set the stage for an upward move.

Bitcoin has once again reached a critical juncture after bouncing back from the $100,000 support level and moving to the $103,000 range, demonstrating resilience in the face of recent volatility. The move signals bullish strength, yet the wider market remains wary as focus shifts to the $112,000 all-time high. A breakout above this level could trigger a new upward move, but a failure to sustain momentum might result in a deeper correction below the current demand levels.

The ongoing macroeconomic conditions continue to influence market sentiment, with rising US bond yields and mounting geopolitical tensions—especially the public dispute between Elon Musk and US President Donald Trump—injecting uncertainty into global risk assets. This response was clearly evident in the crypto derivatives market.

Top analyst Darkfost reported that the net taker volume on Binance underwent a historic shift, diving from $20 million to -$135 million in less than eight hours. This marks the largest drop in directional sentiment witnessed in 2025. The net taker volume reflects the imbalance between aggressive longs and shorts, and such a drastic drop indicates traders rapidly turning bearish.

This sharp reversal hints at fear-driven positioning. Nonetheless, a convincing Bitcoin rebound could trigger a chain of short liquidations, potentially driving a robust rally towards new highs.

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Recent days have seen a rise in political tensions as Republicans, supported by some Democrats, strive to pass bills that not only regulate stablecoins but also introduce comprehensive rules for the crypto industry. However, Trump’s engagement with digital assets, his memecoin, and high-profile dinners have caused a potential disruption to bipartisan hopes.

Democratic Senators, including Ruben Gallego, Mark Warner, Raphael Warnock, Lisa Blunt Rochester, Catherine Cortez Masto, and others, expressed multiple concerns about the stablecoin bill last weekend. They called for stronger requirements for foreign issuers and enhanced anti-money laundering measures.

On Thursday, Senator Warner stated that he couldn’t, “in good conscience ask my colleagues to vote for this legislation when the text isn’t yet finished.” He expressed hope that the bill would be ready for floor consideration the following week.

The Senate Banking Committee, led by Republicans, shared a statement titled “Myth vs. Fact: The Genius Act,” aiming to dispel some of the claims made by lawmakers. They described the bill as the outcome of extensive bipartisan negotiations and consultations with industry experts, academics, and government stakeholders.

The Genius Act, which was advanced by the Senate Banking Committee in March, demands that stablecoins have 100% reserve backing with U.S. dollars and other liquid assets, along with other requirements. It also bars foreign issuance in the U.S. but allows circulation of foreign-issued stablecoins in the U.S. secondary market.

Meanwhile, the House Financial Services Committee advanced a somewhat similar bill but differed in the regulation of issuers and foreign issuers like Tether. Democrats have also shown increasing concerns over President Trump’s involvement in cryptocurrency.

Trump’s family has actively participated in the crypto world, launching their memecoins just days before his inauguration and the launch of Trump-backed World Liberty Financial, which recently launched its own stablecoin. A recent crypto dinner hosted by Trump to raise funds for the MAGA Inc. super PAC saw plates priced up to $1.5 million, marking it as one of the most expensive political fundraisers in recent times.

During a planned joint hearing focused on crypto, several Democrats, led by ranking member Rep. Maxine Waters, boycotted the event, citing Trump’s crypto ownership as their reason.

The future of the bill remains uncertain as senators continue negotiations. Bo Hines, Executive Director of the Presidential Council of Advisers for Digital Assets, urged Democrats to make a decision for or against innovation, hinting at the potential for America to secure its position as the crypto capital of the world.

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The Binance founder, also known as CZ, disclosed on a May 6 episode of the Farokh Radio podcast that he would welcome a pardon, adding that his legal team had already submitted the necessary paperwork. “My lawyers are on it,” Zhao remarked, stating that he put in the request after Bloomberg and The Wall Street Journal published reports in March alleging his pursuit of a pardon from Trump in the context of a potential business collaboration between the Trump family and Binance.US.

Zhao initially refuted these reports, but later admitted on the podcast that he figured “if these reports are circulating, I should officially apply.” He also acknowledged that Trump’s pardon of three BitMEX founders, including Arthur Hayes, inspired his application.

Zhao stated that he lodged the application about two weeks earlier. At the time of the Bloomberg and The Wall Street Journal publications, Zhao said that “no convict would reject a pardon” and claimed he is the only individual in U.S. history to have been incarcerated for a Bank Secrecy Act violation.

In November 2023, Zhao pleaded guilty to a money laundering offense as part of a settlement Binance reached with U.S. authorities. The exchange paid a hefty $4.3 billion fine, with Zhao contributing $50 million. Consequently, he was compelled to resign as CEO.

Afterwards, Zhao received a four-month prison sentence and was barred from working at Binance as part of his plea agreement. According to the U.S. Department of Justice, a pardon would not annul Zhao’s money laundering conviction, but it could potentially enable him to reassume a managerial or operational role at Binance.US.

Despite being a Binance shareholder, Zhao stated at Binance Blockchain Week in November that he has “no intentions to return as CEO.” He added, “The team is excelling and doesn’t need me back.”

Since his release from prison, Zhao has undertaken advisory roles in Pakistan and Kyrgyzstan, aiding in cryptocurrency regulation and the implementation of blockchain solutions.

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Despite this relief rally, Ethereum’s trading values linger below crucial technical markers, indicating a potential ongoing consolidation rather than a definitive reversal. Analysts maintain a cautious stance, citing the crypto’s failure to recover the $1,800-$2,000 range, which keeps its long-term trend uncertain.

However, CryptoQuant’s on-chain data provides a fascinating perspective. Ethereum’s trading price is currently below its realized price (the average price at which all circulating ETH last moved). This has historically indicated a high probability accumulation zone, typically occurring once per cycle.

Some market observers suggest this could be an exceptional opportunity for contrarian investors willing to overlook short-term volatility and macro uncertainty. As Ethereum continues to consolidate, the market is closely watching whether the bulls can sustain this momentum.

After weeks of sustained selling pressure and extreme volatility, Ethereum is at a critical juncture. Macroeconomic uncertainty and escalating global trade tensions have unsettled the broader market, with Ethereum bearing much of this instability. However, a potential shift appears to be in progress, with Ethereum establishing a strong support above $1,400.

Still, Ethereum trades below key resistance levels, particularly the $2,000 mark. Top analyst Quinten Francois notes that ETH is currently trading under its realized price. Historically, such conditions have offered rare buying opportunities and this might be a once-in-a-cycle chance for long-term investors to accumulate undervalued ETH.

Currently, Ethereum is trading at $1,650, unable to breach the $1,700 level. For a stronger recovery, Ethereum must surpass the $1,850 mark. Conversely, if Ethereum cannot break above $1,750 in the coming days, the downside risk amplifies. A rejection at current levels could trigger another selling wave, possibly pushing the price below the $1,500 support zone.

In a market still influenced by fragile sentiment and macroeconomic uncertainty, Ethereum finds itself at a pivotal point where a decisive move above resistance is crucial to changing the bearish outlook to neutral.

The post Is Ethereum Under Realized Price a Once-In-A-Cycle Investment Chance? appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

The analysts trace the beginning of this bull market to the rising possibility of spot Bitcoin exchange-traded fund (ETF) approvals in the U.S. This development pushed Bitcoin from $25,000 to $46,000 by the time the funds launched on January 11, 2024.

As per Bernstein’s view, the successful inflow into these ETFs, which had not been priced in, drove Bitcoin to a record high of approximately $74,000, after which it took a several-month hiatus. The subsequent boost came from pro-crypto Donald Trump’s victory in the U.S. presidential election in November. Trump’s promise to transform the U.S into the “crypto capital of the world” and establish a favorable digital asset regulatory framework saw Bitcoin hit a new all-time high of approximately $109,000 on his Inauguration Day.

In a note to clients on Monday, Gautam Chhugani, leading the analyst team, wrote, “The next leg of the Bitcoin bull market is bracing itself, backed by several positive catalysts. We believe that the Crypto Task Force, under the guidance of David Sacks, is committed to establishing the National Bitcoin reserve as directed by the President.”

The analysts believe that such a Bitcoin reserve could be funded by the Federal Reserve or Treasury, although this would necessitate legislative approval and would potentially trigger swift repricing of the cryptocurrency. Furthermore, the Bitcoin seized by the U.S. government, currently valued at around $20 billion, could be added to the reserve, possibly initiating a global competition among sovereign states.

The Bernstein team also highlighted additional catalysts for the next Bitcoin bull market phase. These include notable filings with the Securities and Exchange Commission and recent major investments in Bitcoin ETFs. They noted Strategy’s (formerly MicroStrategy) latest $742 million Bitcoin purchase, substantial year-to-date spot Bitcoin ETF inflows, and the SEC’s repeal of SAB 121, enabling crypto custody by banks.

The analysts concluded, “The combined adoption by banks, institutional investors, corporations, and potentially sovereigns positions Bitcoin as a significant rival to gold. With Bitcoin valued at $2 trillion market value versus $18 trillion for proven gold reserves, we see an asymmetric upside for Bitcoin.”

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“Crypto brings both risks and opportunities,” said Zhu, as quoted by Sina News. He warned about the potential negative impacts on capital markets but highlighted the necessity of keeping up with global policy shifts. The ex-minister also called cryptocurrency a crucial aspect of the evolving digital economy.

Zhu directly referred to comments made by U.S. Republican Presidential Candidate Donald Trump, who stressed the urgency for America to fully embrace crypto or risk falling behind China. At the July Bitcoin Conference in Nashville, Trump compared the crypto industry to the steel industry of the early 20th century, stating, “It could eventually outshine gold.”

In addition, Zhu acknowledged the SEC’s approval of Bitcoin {{BTC}} and Ether {{ETH}} exchange-traded funds (ETFs), which faced initial resistance. This reflects a more open stance in some parts of the world, while mainland China remains conservative about crypto.

Notably, Hong Kong, with its semi-autonomous governance, has taken a more favorable approach, listing Bitcoin and Ether ETFs and encouraging crypto-related businesses to establish a foothold in the city.

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NFTs may be purchased on collecttrumpcards.com for $99 (plus a transaction charge). According to the site, the first set of Trump digital trading cards will number 45,000. Polygon, a blockchain that calls itself “eco-friendly and carbon neutral,” is minting NFTs, or non-fungible tokens, which prove ownership of a digital asset. A “gala dinner” with Trump in Florida is “guaranteed” for anybody who buys 45 or more Trump Digital Trading Cards, the site claims. The website is also holding a contest with prizes, including a one-hour round of golf at Trump Golf Palm Beach, a 10-minute Zoom conversation with Trump himself, and a chance to meet and greet the president.

One of the Trump NFTs depicts him in a cape and mask, with lasers coming out of his eyes, standing in front of Trump Tower. Another is with Trump dressed in camouflage and armed with a shotgun. A number of them show him with boxing gloves with the number 45 (he was the 45th president of the United States), while another is with him wearing a red hat bearing the words “Dow” and raising his hands triumphantly in front of an increasing stock chart.

Trump, who says he is seeking the Republican nomination in the 2024 presidential election, launched the NFTs. The NFTs were announced by Trump on Truth Social, a Twitter-like social network he created after being banned from Twitter and other internet platforms for his role in supporting the rioters in the deadly attack on the U.S. Capitol on January 6. (Twitter’s new billionaire owner Elon Musk restored Trump’s account last month, but the former president hasn’t used it since then.)

Limited edition playing cards featuring incredible artwork from his career and personal life. Trump shared his thoughts on Truth Social:

Collect all of your favorite Trump Digital Trading Cards, very much like a baseball card, but hopefully much more exciting… Only $99 each! Would make a great Christmas gift. Don’t Wait. They will be gone, I believe, very quickly!

NFTs are designed as collectible goods for private pleasure only, not as financial vehicles, according to a statement on the NFT website. The website claims that certain Trump Digital Trading Cards will be unique examples (meaning there will only be one copy available for purchase), while others will be produced in runs of two, five, seven, or ten.

The website boldly proclaims,

No Trump Digital Trading Card will have more than 20 copies in existence!

According to the website, NFT INT LLC “is not owned, managed or controlled by Donald J. Trump, The Trump Organization, CIC Digital LLC, or any of their respective principals or affiliates.” Only NFT INT LLC is responsible for selling the NFTs. Trump’s name, likeness, and pictures are used by NFT INT LLC under a license from CIC Digital LLC, and that license may be canceled at any time.

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