Happy Tuesday all!
If you missed the past 24 hours in crypto and stocks, here's your full recap:
🚨 Major Headlines & Market Moves 🚨
- Michael Saylor's Strategy purchases 535 bitcoin for $43 million. His MicroStrategy (ticker: MSTR) is back at $100 and actively accumulating more bitcoin again.
- S&P 500 closes at a new all-time high of 7,412.
- The 16% gain in the S&P 500 over the last 6 weeks is the 11th biggest 6-week gain since 1950 and the only one in the top 20 that did not occur during or right after a bear market.
- US Senate Banking Committee releases crypto Clarity Act draft bill.
- Coinbase CEO Brian Armstrong is scheduled to speak to Senate GOP on Wednesday ahead of a Thursday vote on the Bitcoin and crypto market structure bill. Congress members will also hold a bipartisan meeting to discuss crypto tax legislation.
- American Bankers Association is trying to stop the Bitcoin and crypto market structure bill, with banks demanding CEOs lobby senators against stablecoins.
- 73% chance of crypto market structure bill becoming law before 2027, according to Kalshi traders.
- Nvidia CEO Jensen Huang not invited to join President Trump with other business executives on China trip. Full list of executives includes Tim Cook (Apple), Elon Musk (Tesla), Larry Fink (Blackrock), and others.
- Elon Musk's SpaceX projected to trade above $2 trillion valuation when it goes public.
- Mexico cut rates for the 15th time in the cycle by 25 basis points to 6.50%, marking the final cut in the easing cycle.
- Over $163 million worth of long positions liquidated from the crypto market in the past 24 hours.
📊 Altcoin Market Updates 📊
- ETF clients buy $25.8 million worth of XRP, bringing total ETF-held net assets to $1.48 billion.
- Bitwise Solana ETF receives 67,407 SOL ($6.4 million) from Coinbase, with accumulation continuing. SOL is forecasted to reach as high as $102 in May per Kalshi traders.
- Circle raises $222 million from Blackrock, Apollo, and others in Arc token presale valued at $3 billion.
- 21Shares announces the 21Shares Hyperliquid ETF ($THYP) is coming May 12, 2026.
- Ondo Finance announces that Ondo tokenized stocks can now be bridged to Hyperliquid’s HyperEVM via LayerZero.
- Ethereum supply has been disinflationary in the past year, amplified by ETH DAOs acquiring and staking ETH.
- Telegram CEO Pavel Durov announces development for TON just became 10x faster with a new toolchain for smart contracts that is fully AI-ready.
- Bitcoin Ordinals explorer ord.io to shut down on June 1. ZapApp to shut down on June 1.
If you enjoyed this daily roundup, make sure to follow me – I'll see you tomorrow.
Credit to the following X accounts for key insights & updates: @whaleinsider @bitcoinmagazine @watcherguru
@degeneratenews @charliebilello @economyapp @earnings_time
$BTC $ETH $SPY $QQQ $OIL
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Written by Timothy Assi, an Elite Popular Investor on eToro.
Not investment advice. eToro is a multi-asset investment platform. Your capital is at risk. For information and educational purposes only.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
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