Bitcoin pauses as major assets catch up to the US-China trade deal announcement, with $102,000 on the cards as a BTC price support retest target. Key points: Bitcoin seeks consolidation after rapid gains as stocks and the US dollar surge on US-China trade deal news. Nearby order book liquidity forms potential targets for traders, which now include $102,000. Read more
Gryphon Digital Mining will acquire American Bitcoin in a stock-for-stock transaction, with the combined entity operating under the American Bitcoin brand. Bitcoin mining firm American Bitcoin is going public through a merger with crypto mining company Gryphon Digital Mining, the companies announced on May 12. Under the terms of the deal, Gryphon Digital Mining will acquire American Bitcoin in a stock-for-stock transaction. After the merger, the new company will operate under the American Bitcoin brand and be led by its board of directors, which includes Eric Trump, the second-eldest of US President Donald Trump’s three sons. News of the merger coincided with a sharp rise in Gryphon Digital Mining’s stock price, which climbed from $0.52 on May 9 to $2.15 at the time of writing, a gain of more than 313%, according to Google Finance. The announcement follows early April reports that American Bitcoin was considering an initial public offering (IPO). Read more
Earn yield on Bitcoin using centralized lending platforms, through Wrapped Bitcoin (WBTC) on Ethereum, or Bitcoin layer-2 platforms. Though Bitcoin doesn’t support native staking, holders can earn yield through centralized lending platforms, Wrapped Bitcoin (WBTC) on Ethereum, and Bitcoin-related networks like Babylon and Stacks. WBTC allows BTC holders to participate in lending, liquidity pools and yield farming on Ethereum-based DeFi platforms like Aave and Curve but introduces bridge and smart contract risks. Protocols like Babylon and Stacks use mechanisms like native time-locked scripts or stacking to offer rewards without removing BTC from the Bitcoin blockchain. Read more
The constructive tone of tariff negotiations removes the risks of “sudden re-escalation,” potentially paving the way for risk assets to surpass their January peaks, analysts said. A 90-day tariff agreement between the US and China may set the stage for a broader recovery of stock and cryptocurrency markets, as investors look ahead to a potential tax relief package. The White House announced on May 12 that the two countries will reduce their respective tariffs to 10% for an initial 90-day period beginning May 14 — a 24% cut from current levels. Speaking at a news conference in Geneva, US Treasury Secretary Scott Bessent said both governments are aligned on avoiding further economic decoupling. Read more
With its latest purchase, Strategy has achieved a Bitcoin yield of 15.5%, breaking its previous 2025 target, which was lifted to 25% in early May. Update (May 12, 1:25 pm UTC): This article has been updated to reflect that Strategy lifted its 2025 Bitcoin yield target from 15% to 25% in early May. Michael Saylor’s Strategy purchased a fresh batch of Bitcoin as the cryptocurrency pushed above $100,000 last week. Strategy acquired 13,390 Bitcoin (BTC) for $1.34 billion between May 5 and May 11, the firm announced in its filing with the US Securities and Exchange Commission published on May 12. Read more