Bitcoin has broken above the $79,500 level, backed by solid buying by institutional investors. Will the altcoins also follow? Key points: Bitcoin (BTC) opened the new week with a rally above $80,500, suggesting the bulls are attempting to take charge. Analysts are closely watching the $80,000 level, as some believe a failure to close above it could trigger a move toward $60,000. However, crypto analyst Matthew Hyland said in a post on X that traders calling BTC’s fall to $60,000 and lower ‘will be the ones flipping bullish late above $90K.” Read more
Bitcoin faced new volatility and a new struggle to reclaim $80,000 as Iran events added pressure to crypto and risk assets. Bitcoin (BTC) saw volatility at Monday’s Wall Street open as fresh US-Iran war events sparked instability. Key points: Read more
Institutional investors are entering prediction markets as block trades, custom contracts and US regulatory shifts reshape a sector still dominated by retail users. Prediction markets are evolving from retail speculation platforms into institutional-grade financial instruments, driven by demand for precise macro hedging and clearly defined binary outcomes, according to a May 4 report by Bernstein. The report highlights why institutional investors may find these markets attractive — namely, they allow users to hedge specific event risks, such as tariffs, elections and geopolitical developments, using contracts that resolve to simple yes-or-no outcomes. Bernstein pointed to the first bespoke institutional block trade executed on Kalshi last week as a key milestone. A block trade refers to a privately negotiated, large transaction typically arranged between institutional counterparties. Read more