On May 22, US President Donald Trump is expected to host up to 220 people who had purchased the most significant quantities of his memecoin at a private event in Washington, DC.

Though the exact number of attendees was unknown as of May 19, reports and blockchain data have revealed some of the tokenholders who qualified to apply for the May 22 dinner and “VIP tour” and reception, presumed to be in the White House. Bloomberg reported on May 7 that more than half of the 220 wallets were likely controlled by foreign nationals.

Among the memecoin dinner applicants, who likely still face background checks ahead of getting a confirmed appearance before the president, included Synthetix founder Kain Warwick, a consultant named Vincent Deriu, and crypto user Morten Christensen, who reportedly only paid $1,200 for the opportunity.

Others included a World Liberty Financial adviser going by the pseudonym “Ogle,” and a representative from the Singapore-based startup MemeCore. Cointelegraph has also learned that Vincent Liu, chief investment officer of the Taiwan-based company Kronos Research, plans to attend.

Trump’s memecoin, even before the announced dinner and reception, was criticized by many members of Congress.

Some lawmakers said the president was opening the White House up to potential bribes and conflicts of interest by allowing people, perhaps tied to foreign governments, to put money directly into his pockets without transparency.

Interfering with stablecoin, market structure bills

The controversy has spilled over into proposed legislation connected to digital assets, including a bill in the Senate aimed at establishing a regulatory framework for stablecoins and a draft market structure bill in the House of Representatives. Some Democrats said they would not support any legislation until “Trump’s crypto corruption” was addressed.

May 14 BlueSky post on Trump memecoin. Source: Elizabeth Warren

“Democrats are thinking that this is just an official means by which to conduct corruption,” said Rebecca Liao, co-founder and CEO of layer-1 blockchain Saga, in a statement shared with Cointelegraph. “What began as a bipartisan bill with potential widespread support has now transformed into a proxy war between the Democrats and the Trump administration.”

Related: Trump’s crypto ties ‘add a certain level of challenge’ to passing bills — Coinbase exec

Some organizations have planned protests during the memecoin dinner on May 22. The Democratic Party’s arm in Arlington, Virginia, announced its members would gather to oppose those in the White House “cashing in on their public office.” Cointelegraph reached out to the organization for comment but had not received a response at the time of publication.

Buying influence, or just speculating on an emerging market?

The top 220 tokenholders reportedly spent a combined $148 million to have the opportunity to attend the event, which finalized its leaderboard on May 12. However, anyone with a wallet can still buy TRUMP tokens and potentially influence the president’s policies after the dinner is completed. 

“The decision to acquire the [TRUMP] token was not political,” Vincent Liu of Kronos Research, who plans on attending the memecoin dinner, told Cointelegraph. “It was based on identifying early momentum, cultural relevance, and potential market catalysts.”

In April, Freight Technologies said it would invest $20 million in the TRUMP token, suggesting that it could affect the president’s trade policies between the US and Mexico, where the firm conducts some of its business. GD Culture Group announced in May that the memecoin would be included in its plans for a $300-million crypto reserve.

“The issue is the conflict of interest between the Trump family’s crypto investments and the administration’s pivot toward crypto-friendly policies,” said Liao. “The Trump family has very openly invested in crypto and has started their own crypto ventures. This has created a perception problem where policy shifts favoring cryptocurrency could be viewed as self-enrichment rather than in the national interest.”

If the stablecoin bill, the GENIUS Act, is the first test for how Republicans and Democrats will respond to Trump’s potential conflicts of interest in the crypto industry, there is already a stark contrast between the two parties. ​​

House Speaker Mike Johnson largely brushed off concerns about the president and his family’s connections to the industry, saying he was “not an expert in that.” White House deputy press secretary Anna Kelly reportedly said there were “no conflicts of interest” because Trump’s children managed his assets through a trust.

Lawmakers are expected to take up a vote on the GENIUS Act in a matter of days, possibly before the memecoin dinner and reception are held. At the time of publication, it was unclear whether Republicans intended to address some of the Democrats’ concerns around Trump and crypto, or move forward with a vote with no significant changes to the bill.

Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

Update (May 20 at 3:09 pm UTC): This article has been updated to include comments from Circle.

Circle, the issuer of stablecoin USDC (USDC), is still planning an initial public offering (IPO), but the company is also in informal talks with Ripple and Coinbase about a sale, according to a report from Fortune. In an email to Cointelegraph, Circle denied the rumors.

According to the report, Circle is seeking a $5 billion target for the IPO, four banking and private equity sources told Fortune. Ripple reportedly tried to purchase Circle on April 30, but the $4 billion to $5 billion bid was rejected as being too low.

Commenting on the report, Circle said in a statement that “[it] is not for sale,” adding that its “long-term goals remain the same.”

If Ripple or Coinbase were to buy Circle, the details of a purchase would differ. Ripple would pay using cash and XRP (XRP), a cryptocurrency that Ripple created. Coinbase, on the other hand, would use cash and stock.

Coinbase and Circle have a relationship dating to 2018, when they launched the Centre Consortium. That venture was meant to establish standards for fiat-backed stablecoins, including USDC. Coinbase also has an agreement with Circle to put USDC onto its exchange.

Circle filed for an IPO on April 1 with a goal to complete the process by the end of that month. The company backpedaled slightly on April 4, indicating it might delay its IPO due to economic uncertainty.

Related: New bull cycle? Bitcoin’s return to $100K hints at ‘significant price move’

Market conditions for IPOs improve as tariffs wane

In December 2024, Bitwise predicted that 2025 would be the year of the crypto IPO, and that prediction is starting to bear fruit. Aside from Circle, crypto exchanges Gemini and Kraken are mulling IPOs in 2025 or early 2026 as US President Donald Trump has pushed for a more favorable regulatory environment for crypto in the United States.

Those plans were put on hold after the Trump administration enacted wide-ranging tariffs that caused market turmoil. With the tariffs now suspended or reduced, markets have rebounded.

On May 12, Cointelegraph reported that Bitcoin (BTC) was 4.8% away from reaching its all-time high of $109,800. Ether (ETH), XRP, and Solana (SOL) have also seen big gains in the past month. The stock market has rebounded as well, with the S&P 500 jumping 15.6% in the past month, according to Google Finance.

At least one company has benefited from completing its IPO during this period of renewed enthusiasm: eToro, an Israel-based trading company. After an IPO on May 14, its stock price jumped 29%.

Magazine: X Hall of Flame: Bitcoin will ‘start ripping’ as Trump’s polls improve — Felix Hartmann 

Key takeaways:

Bitcoin buying in the spot and futures markets helped BTC price keep its upward momentum despite $170 million in margin liquidations.

Weak stablecoin demand in China and the limited use of futures leverage suggest Bitcoin’s current rally is sustainable.

Bitcoin (BTC) price has displayed strength at the $102,000 support level on May 19, following the $170 million in liquidations of leveraged positions. The abrupt $5,000 correction after hitting $107,090 may have been unexpected, but it does not mean the odds of reaching an all-time high in the near term are lower, especially since Bitcoin derivatives metrics have shown resilience.

Bitcoin 1-month futures annualized premium. Source: laevitas.ch

The annualized one-month futures premium for Bitcoin remained close to 6% despite the retest of $102,000 support. This current level is within the 5% to 10% neutral range, which has been the norm over the past week. While at first glance such data might suggest a lack of optimism, at the same time, it proves that the buying pressure is coming from the spot market rather than from leveraged bets.

Japan bond spike and credit fears weigh on Bitcoin sentiment

Some analysts attribute Bitcoin’s correction to comments by Japan’s Prime Minister Shigeru Ishiba on the country’s fiscal situation being “undoubtedly extremely poor,” as reported by Bloomberg. 

Japan 15-year government bond yield. Source: TradingView / Cointelegraph

Yields on Japan’s long-term government bonds soared to their highest level ever on May 19 as traders demanded higher returns, signaling a lack of trust. Japan is the largest holder of US Treasury bonds, so investors are concerned about contagion risks at a delicate moment for the global economy, especially as the ongoing trade war has severely limited growth prospects.

The fact that Moody’s rating agency cut the US government’s long-term credit rating to AA1 from AAA has also played a significant role in limiting Bitcoin’s upside, particularly as its correlation with the S&P 500 index has stayed above 80% since early May. Investor sentiment could quickly deteriorate as the impact of tariffs becomes partially visible in second-quarter corporate earnings.

To understand if Bitcoin has what it takes to reach an all-time high in the near term, one should analyze the demand for stablecoins in China. Periods of excessive optimism usually lead to stablecoins trading above fair value, which is not a healthy indicator, as Bitcoin jumps above $105,000.

USDT Tether (USDT/CNY) vs. US dollar/CNY. Source: OKX

USD Tether (USDT) has been trading at a slight 0.4% discount in China, meaning Bitcoin’s price increase has likely not been driven by FOMO. The absence of excessive leverage on Bitcoin futures and the lack of desperate inflows into Chinese markets are key ingredients for sustainable price gains, paving the way for a more solid bullish momentum above $105,000.

Bitcoin shrugs off bad news, holds support amid strong spot demand

Bitcoin’s price displayed significant resilience after the announcement of a class-action lawsuit against Strategy’s top executives, claiming “false and/or misleading statements” regarding risks associated with Bitcoin’s investment. The complaint specifically mentions unrealized losses, although those events do not affect the company’s cash flow.

Regardless of whether the case has foundation, negative headlines tend to have a much stronger and longer price impact in neutral to bearish markets, which clearly was not the case as Strategy (MSTR) shares traded up 2.4% on May 19. 

Additionally, the fact that the $102,000 support held amid increased global economic uncertainty, combined with strong spot buying and resilient derivatives metrics, provides every indication that Bitcoin is well-positioned for further price gains.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Key takeaways:

Bitcoin buying in the spot and futures markets helped BTC price keep its upward momentum despite $170 million in margin liquidations.

Weak stablecoin demand in China and the limited use of futures leverage suggest Bitcoin’s current rally is sustainable.

Bitcoin (BTC) price has displayed strength at the $102,000 support level on May 19, following the $170 million in liquidations of leveraged positions. The abrupt $5,000 correction after hitting $107,090 may have been unexpected, but it does not mean the odds of reaching an all-time high in the near term are lower, especially since Bitcoin derivatives metrics have shown resilience.

Bitcoin 1-month futures annualized premium. Source: laevitas.ch

The annualized one-month futures premium for Bitcoin remained close to 6% despite the retest of $102,000 support. This current level is within the 5% to 10% neutral range, which has been the norm over the past week. While at first glance such data might suggest a lack of optimism, at the same time, it proves that the buying pressure is coming from the spot market rather than from leveraged bets.

Japan bond spike and credit fears weigh on Bitcoin sentiment

Some analysts attribute Bitcoin’s correction to comments by Japan’s Prime Minister Shigeru Ishiba on the country’s fiscal situation being “undoubtedly extremely poor,” as reported by Bloomberg. 

Japan 15-year government bond yield. Source: TradingView / Cointelegraph

Yields on Japan’s long-term government bonds soared to their highest level ever on May 19 as traders demanded higher returns, signaling a lack of trust. Japan is the largest holder of US Treasury bonds, so investors are concerned about contagion risks at a delicate moment for the global economy, especially as the ongoing trade war has severely limited growth prospects.

The fact that Moody’s rating agency cut the US government’s long-term credit rating to AA1 from AAA has also played a significant role in limiting Bitcoin’s upside, particularly as its correlation with the S&P 500 index has stayed above 80% since early May. Investor sentiment could quickly deteriorate as the impact of tariffs becomes partially visible in second-quarter corporate earnings.

To understand if Bitcoin has what it takes to reach an all-time high in the near term, one should analyze the demand for stablecoins in China. Periods of excessive optimism usually lead to stablecoins trading above fair value, which is not a healthy indicator, as Bitcoin jumps above $105,000.

USDT Tether (USDT/CNY) vs. US dollar/CNY. Source: OKX

USD Tether (USDT) has been trading at a slight 0.4% discount in China, meaning Bitcoin’s price increase has likely not been driven by FOMO. The absence of excessive leverage on Bitcoin futures and the lack of desperate inflows into Chinese markets are key ingredients for sustainable price gains, paving the way for a more solid bullish momentum above $105,000.

Bitcoin shrugs off bad news, holds support amid strong spot demand

Bitcoin’s price displayed significant resilience after the announcement of a class-action lawsuit against Strategy’s top executives, claiming “false and/or misleading statements” regarding risks associated with Bitcoin’s investment. The complaint specifically mentions unrealized losses, although those events do not affect the company’s cash flow.

Regardless of whether the case has foundation, negative headlines tend to have a much stronger and longer price impact in neutral to bearish markets, which clearly was not the case as Strategy (MSTR) shares traded up 2.4% on May 19. 

Additionally, the fact that the $102,000 support held amid increased global economic uncertainty, combined with strong spot buying and resilient derivatives metrics, provides every indication that Bitcoin is well-positioned for further price gains.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Key takeaways:

Bitcoin buying in the spot and futures markets helped BTC price keep its upward momentum despite $170 million in margin liquidations.

Weak stablecoin demand in China and the limited use of futures leverage suggest Bitcoin’s current rally is sustainable.

Bitcoin (BTC) price has displayed strength at the $102,000 support level on May 19, following the $170 million in liquidations of leveraged positions. The abrupt $5,000 correction after hitting $107,090 may have been unexpected, but it does not mean the odds of reaching an all-time high in the near term are lower, especially since Bitcoin derivatives metrics have shown resilience.

Bitcoin 1-month futures annualized premium. Source: laevitas.ch

The annualized one-month futures premium for Bitcoin remained close to 6% despite the retest of $102,000 support. This current level is within the 5% to 10% neutral range, which has been the norm over the past week. While at first glance such data might suggest a lack of optimism, at the same time, it proves that the buying pressure is coming from the spot market rather than from leveraged bets.

Japan bond spike and credit fears weigh on Bitcoin sentiment

Some analysts attribute Bitcoin’s correction to comments by Japan’s Prime Minister Shigeru Ishiba on the country’s fiscal situation being “undoubtedly extremely poor,” as reported by Bloomberg. 

Japan 15-year government bond yield. Source: TradingView / Cointelegraph

Yields on Japan’s long-term government bonds soared to their highest level ever on May 19 as traders demanded higher returns, signaling a lack of trust. Japan is the largest holder of US Treasury bonds, so investors are concerned about contagion risks at a delicate moment for the global economy, especially as the ongoing trade war has severely limited growth prospects.

The fact that Moody’s rating agency cut the US government’s long-term credit rating to AA1 from AAA has also played a significant role in limiting Bitcoin’s upside, particularly as its correlation with the S&P 500 index has stayed above 80% since early May. Investor sentiment could quickly deteriorate as the impact of tariffs becomes partially visible in second-quarter corporate earnings.

To understand if Bitcoin has what it takes to reach an all-time high in the near term, one should analyze the demand for stablecoins in China. Periods of excessive optimism usually lead to stablecoins trading above fair value, which is not a healthy indicator, as Bitcoin jumps above $105,000.

USDT Tether (USDT/CNY) vs. US dollar/CNY. Source: OKX

USD Tether (USDT) has been trading at a slight 0.4% discount in China, meaning Bitcoin’s price increase has likely not been driven by FOMO. The absence of excessive leverage on Bitcoin futures and the lack of desperate inflows into Chinese markets are key ingredients for sustainable price gains, paving the way for a more solid bullish momentum above $105,000.

Bitcoin shrugs off bad news, holds support amid strong spot demand

Bitcoin’s price displayed significant resilience after the announcement of a class-action lawsuit against Strategy’s top executives, claiming “false and/or misleading statements” regarding risks associated with Bitcoin’s investment. The complaint specifically mentions unrealized losses, although those events do not affect the company’s cash flow.

Regardless of whether the case has foundation, negative headlines tend to have a much stronger and longer price impact in neutral to bearish markets, which clearly was not the case as Strategy (MSTR) shares traded up 2.4% on May 19. 

Additionally, the fact that the $102,000 support held amid increased global economic uncertainty, combined with strong spot buying and resilient derivatives metrics, provides every indication that Bitcoin is well-positioned for further price gains.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Quantum Biopharma has purchased an additional $1 million worth of Bitcoin and other cryptocurrencies, the Canadian biotechnology company said. 

The buys take Quantum’s total cryptocurrency holdings to approximately $4.5 million, according to a May 19 press release. The biotech company plans to stake a portion of its crypto to generate revenue. 

Quantum expects that holding a treasury of Bitcoin (BTC) and other crypto assets will “provide a return on investment for shareholders and […] provide some hedge against the Canadian dollar,” it said. 

Shares of Quantum’s stock, QNTM, rose by approximately 25% following the announcement, according to data from Google Finance. 

Quantum Biopharma’s stock rose on the announcement. Source: Google Finance

Related: Basel Medical shares down 15% on $1B Bitcoin buying plans

Popular treasury strategy

Quantum is one of several healthcare companies accumulating Bitcoin as corporate crypto treasuries become increasingly popular. 

In March, NASDAQ-listed biopharmaceutical company Atai Life Sciences tipped plans to buy $5 million worth of Bitcoin. 

In a March 20 X post, Atai’s founder, Christian Angermayer, said “Bitcoin should be a part of ANY corporate treasury – especially, in fact, in the biotech sector.”

Angermayer added in a blog post that Bitcoin can help the biotech hedge against inflation and stay solvent during the long periods before drug approvals. 

Corporate treasuries are now major Bitcoin holders. Source: Bitcointreasuries.net

On May 16, Singapore-based healthcare company Basel Medical Group announced plans to buy $1 billion worth of Bitcoin. 

It said a Bitcoin treasury will support its plans to expand in Asia through acquisitions by giving Basel “one of the strongest balance sheets among Asia-focused healthcare providers.”

Unlike Quantum, however, Basel’s shares dropped significantly on the day of the announcement.

Collectively, corporate treasuries hold more than $83 billion in Bitcoin as of May 19, according to data from BitcoinTreasuries.NET. 

Publicly traded companies are now the largest institutional Bitcoin holders after exchange-traded funds (ETFs), the data shows.

Bitcoin can “potentially be a valuable hedge against growing fiscal deficits, currency debasement, and geopolitical risks” for companies, asset manager Fidelity Digital Assets said in a 2024 report.

Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee

In one of his first speeches since becoming chair of the US Securities and Exchange Commission (SEC) in April, Paul Atkins addressed some of the regulatory concerns around the cryptocurrency industry.

In prepared remarks for a May 19 speech, Atkins said it was a “new day” for the crypto industry under the current leadership of the SEC. He suggested that the financial regulator would be more open to “adapt to and accommodate new developments” while still abiding by its statutes.

“The crypto markets have been languishing in SEC limbo for years,” said Atkins, adding:

“While I have directed Commission staff across our policy Divisions to begin drafting rule proposals related to crypto, the staff continue to ‘clear the brush’ through staff-level statements.”

Even before Atkins stepped into the role of SEC chair, the commission’s actions under Donald Trump suggested that it would radically depart from the direction of former chair Gary Gensler. In 2025, the SEC has dropped several investigations and enforcement actions against crypto companies and issued guidance on memecoins and security tokens.

Related: CFTC commissioner to leave agency on May 31

“As I begin my tenure as Chairman, I can tell you that we are getting back to our roots of promoting, rather than stifling, innovation,” said Atkins. “The markets innovate, and the SEC should not be in the business of telling them to stand still.”

Looking to Congress for market structure

Atkins’ remarks came as US lawmakers considered draft legislation to establish a regulatory structure for crypto markets. The proposed bill, moving through the House of Representatives, could clarify the roles the SEC and Commodity Futures Trading Commission (CFTC) have in overseeing and regulating digital assets.

Until the legislation passes Congress and is signed into law, the SEC’s rules and guidelines over crypto could face pushback from affected parties.

The SEC chair has given opening remarks and overseen the commission’s roundtable events, discussing regulatory issues surrounding digital assets and blockchain. The next event, scheduled for June 9, will cover decentralized finance.

Magazine: SEC’s U-turn on crypto leaves key questions unanswered 

Crypto.com and asset manager Canary Capital are launching a US investment fund designed to provide exposure to the Cronos blockchain’s native token, CRO, the cryptocurrency exchange said in a statement.

The Canary CRO Trust will hold the Cronos (CRO) token in a regulated fund wrapper, Crypto.com said, adding that the trust is not an exchange-traded fund (ETF) and is only available to accredited investors. 

Creating regulated funds such as CRO Trust is part of Crypto.com’s plan for “further mainstreaming crypto,” Eric Anziani, president and chief operating officer of Crypto.com, said in a statement.

In March, the crypto exchange partnered with Trump Media & Technology Group, a company affiliated with US President Donald Trump, to launch a series of Trump-branded ETFs, including one holding CRO.

The Trump Media ETFs are still awaiting approval from the US Securities and Exchange Commission (SEC), which has not yet authorized any CRO ETFs for US trading, Crypto.com said.

Cronos has a total value locked of nearly $440 million. Source: DefiLlama

Related: 21Shares launches ETP for Crypto.com’s Cronos token

Cronos ecosystem

Cronos is a layer-1 blockchain network affiliated with Crypto.com. The chain is designed to integrate with the Ethereum and Cosmos ecosystems and support decentralized finance (DeFi) applications, non-fungible tokens (NFTs), and other Web3 applications.

The chain has a total value locked (TVL) of nearly $440 million, according to data from DefiLlama. Its most popular application is VVS Finance, a DeFi platform for token swaps and yield farming.

The CRO token has a market capitalization of roughly $880 million as of May 19, according to Cointelegraph’s market data. 

Altcoin ETF filings

Since Trump took office in January, he has signaled a more crypto-friendly approach to regulation, prompting asset managers to seek to list roughly 70 new crypto ETFs.

In May, asset manager VanEck filed to list an ETF tied to another exchange-affiliated token, BNB Chain’s native BNB. The chain is affiliated with Binance, the world’s largest centralized exchange.

The same month, 21Shares launched an exchange-traded product (ETP) in Europe offering exposure to Crypto.com’s CRO token. 

Magazine: Rise of MicroStrategy clones, Asia dominates crypto adoption: Asia Express 2024 review

Key points:

Bitcoin’s rejection at $107,000 shows sellers are active at higher levels, but the recovery from the intraday low shows solid buying.

Strategy and Metaplanet continue to accumulate Bitcoin, adding steady buy-side pressure to BTC price. 

Select altcoins have pulled back, but they have not yet turned negative.

Bitcoin’s (BTC) attempt to challenge the all-time high faced a strong rejection near $107,100 on May 19, signaling that the bears are unlikely to give up without a fight. However, the long tail on the candlestick shows solid buying at lower levels.

The short-term uncertainty has not deterred the long-term buyers from accumulating more Bitcoin. Strategy, formerly MicroStrategy, announced the purchase of 7,390 Bitcoin for an average price of about $103,500, taking its total holding to 576,230 Bitcoin.  

Similarly, Japanese investment firm Metaplanet said on May 19 it acquired 1,004 Bitcoin, boosting its total to 7,800 Bitcoin. 

Crypto market data daily view. Source: Coin360

Although Bitcoin’s trend remains bullish, repeated failure to break above the overhead resistance may tempt short-term traders to book profits. That increases the risk of a break below the psychological level of $100,000.

What are the crucial support and resistance levels to watch out for in Bitcoin and altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

S&P 500 Index price prediction

The S&P 500 Index (SPX) extended its up move last week, indicating continued buying by the bulls.

SPX daily chart. Source: Cointelegraph/TradingView

The upsloping 20-day exponential moving average (5,712) and the relative strength index (RSI) near the overbought zone signal an advantage to buyers, but the up move is expected to face significant resistance in the 6,000 to 6,147 zone. 

If the price turns down from the overhead zone, the index could find support at 5,800 and then at the 20-day EMA. If the price rebounds off the 20-day EMA, the bulls will again try to drive the index to the all-time high. Sellers will have to tug the price below the 20-day EMA to break the bullish momentum. 

US Dollar Index price prediction

The relief rally in the US Dollar Index (DXY) hit a wall at the 50-day simple moving average (101.67) on May 12, indicating that the bears are selling on rallies.

DXY daily chart. Source: Cointelegraph/TradingView

The index is likely to find support at the 100.27 level. If the price rebounds off 100.27, the bulls will again try to kick the index above the 50-day SMA. If they manage to do that, the index could pick up momentum and surge toward 103.54. Such a move signals that the corrective phase may be over.

Sellers will retain the advantage if the price closes below the 100.27 support. That opens the doors for a retest of the 99 level.

Bitcoin price prediction

Bitcoin broke above the overhead resistance at $105,820 on May 18, but the bulls could not sustain the momentum.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

Sellers are expected to fiercely defend the zone between $107,000 and $109,588. The 20-day EMA ($100,787) is the crucial support to watch out for on the downside. A rebound off the 20-day EMA suggests the positive sentiment remains intact. The bulls will again try to clear the overhead zone. If they succeed, the BTC/USDT pair could skyrocket toward $130,000.

This positive view will be invalidated in the near term if the price continues to fall and breaks below the psychologically crucial $100,000 support. The pair could then plummet to the 50-day SMA ($91,916).

Ether price prediction

Ether’s (ETH) bounce off the 20-day EMA ($2,288) on May 18 fizzled out near $2,600, signaling that the bears have kept up the pressure.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

Sellers tried to pull the price below the 20-day EMA, but the long tail on the candlestick shows solid buying at lower levels. The bulls will try to kick the price above the $2,738 resistance, opening the gates for a rally to $3,000. There is minor resistance at $2,850, but it is likely to be crossed.

Contrarily, a break and close below the 20-day EMA tilts the advantage in favor of the bears. The ETH/USDT pair could then slump to $2,111.

XRP price prediction

XRP (XRP) remains stuck inside the $2.65 to $2 range, indicating buying near the support and selling close to the resistance.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

The XRP/USDT pair bounced off the 20-day EMA ($2.34) on May 17, but the bulls are facing selling at higher levels. If the price sustains below the 20-day EMA, the pair could stay inside the range for some more time. The price action inside the range is expected to be random and volatile.

The next trending move is likely to begin on a break above $2.65 or below $2. If buyers pierce the $2.65 resistance, the pair could travel to $3.

BNB price prediction

BNB (BNB) bounced off the 20-day EMA ($635) on May 18, but the higher levels attracted selling by the bears.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

The gradually upsloping 20-day EMA and the RSI in the positive territory indicate a slight edge to the bulls. If the price rises and maintains above $644, the bulls will again try to drive the BNB/USDT pair above $680. If they succeed, the pair may start its northward march toward the overhead resistance of $745.

Contrary to this assumption, a break and close below the 20-day EMA clears the path for a decline to the 50-day SMA ($606) and later to $580.

Solana price prediction

Solana (SOL) turned up from the 20-day EMA ($163) on May 17, but the bulls could not push the price above the $180 resistance.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

Sellers are trying to pull and retain the price below the 20-day EMA. If they manage to do that, the SOL/USDT pair could tumble to $153 and, after that, to the 50-day SMA ($143). That points to a possible range-bound action between $180 and $120 in the near term.

The bulls will have to propel the price above the $185 level to regain control. The pair could then pick up momentum and rally to $210 and subsequently to $220. 

Related: XRP price risks falling to $2 after classic bearish chart pattern confirms

Dogecoin price prediction

Buyers successfully defended the breakout level of $0.21 on May 17 but are struggling to sustain the bounce in Dogecoin (DOGE).

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

Sellers will try to make a comeback by pulling the price below $0.21. If they do that, the DOGE/USDT pair could slide to the 50-day SMA ($0.18). That signals a possible range formation between $0.26 and $0.14.

Buyers will have to thrust the price above the $0.26 resistance to signal the resumption of the recovery. There is minor resistance at $0.30, but it is likely to be crossed. The pair may then ascend to $0.35.

Cardano price prediction

Cardano (ADA) has broken below the neckline of the inverted head-and-shoulders pattern, indicating that the bulls are losing their grip.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

The next support is at the 50-day SMA ($0.68). If the price turns up from the 50-day SMA, the bulls will try to push the ADA/USDT pair above the neckline. If they can pull it off, the pair could retest the $0.86 level. A break and close above the $0.86 resistance clears the path for a rally to $1.01.

Conversely, a break and close below the 50-day SMA suggests the markets have rejected the breakout above the neckline. That increases the risk of a drop to $0.58.

Sui price prediction

Sui’s (SUI) bounce off the 20-day EMA ($3.67) turned down from the $3.90 to $4.25 zone, indicating that the bears are active at higher levels.

SUI/USDT daily chart. Source: Cointelegraph/TradingView

The pullback could deepen if the price breaks and sustains below the 20-day EMA. If that happens, the SUI/USDT pair could skid to $3.12 and then to the 50-day SMA ($2.97).

On the contrary, if the price snaps back from the 20-day EMA and rises above $3.90, it suggests a positive sentiment. That enhances the prospects of a break above the $4.25 level. The pair could then surge to $5. Sellers are expected to fiercely defend the zone between $5 and the all-time high of $5.37.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Before discovering Bitcoin (BTC), Ledn co-founder Mauricio di Bartolomeo found success shorting the Venezuelan Bolivar as it rapidly lost value against the stronger US dollar. Now, with the US dollar depreciating against Bitcoin, borrowing against Bitcoin instead of selling it has become a more viable strategy.

“Prior to Bitcoin, my most successful investment was shorting the Bolivar with dollars,” di Bartolomeo told Cointelegraph in an exclusive interview at the Consensus conference in Toronto, Canada. 

“I was borrowing Bolivars and buying dollars with them, holding the hard dollars and having a borrow [position] on the weaker currency,” he said.

The arrival of Bitcoin-backed loans means investors can now effectively implement the same strategy by using a harder currency as collateral. 

Ledn co-founder Mauricio di Bartolomeo, right, and Cointelegraph’s Sam Bourgi at Consensus. Source: Cointelegraph

This was part of the motivation behind launching Ledn, a Cayman Islands-based company that gives Bitcoin holders the ability to access dollar liquidity without having to sell their BTC. 

By borrowing against Bitcoin, “you’re basically doing the same thing, but you are in effect holding the hard money, which is Bitcoin, and taking a borrow [position] on dollars, which is a weaker currency,” said di Bartolomeo, adding:

“This creates a bit of a virtuous cycle that we see happen time and again with real estate, with borrowing against your stock, borrowing against your gold, and so Bitcoin is no different.”

Related: Bitcoin miners should pay costs in depreciating currency — Ledn exec

Crypto lending market on the rise

Ledn operates in a much broader crypto lending industry that has grown over the past five years due to the rapid appreciation of Bitcoin, the arrival of institutional investors and the growing utility of stablecoins.

By the fourth quarter of 2024, the crypto lending market was valued at $30.2 billion, a more than threefold increase compared to two years earlier, according to Galaxy Research. However, the size of the overall industry remains below the 2021 peak. 

The researchers attributed the recent rise to decentralized finance applications, which allow users to borrow against assets onchain. This trend was further corroborated by a recent Cointelegraph report, which documented the growing monetary value secured by DeFi lending protocols. 

The crypto lending market has rebounded sharply from its 2022 lows but remains well below the peak from 2021. Source: Galaxy Research

Ledn was ranked among the top three centralized finance (CeFi) lenders, with a loan book valued at $9.9 billion at the end of 2024. Together, the top three CeFi lenders — Ledn, Tether and Galaxy — account for 89% of the total market, the Galaxy report showed.

Magazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee