K Wave Media reversed its $485 million Bitcoin treasury plan today, 
redirecting funds to AI data centres and GPUs K Wave Media scrapped its 
Bitcoin treasury strategy on May 5 and redirected the capital to AI data 
centres and GPU…

K Wave Media rejects Bitcoin for AI data centres

Solana’s price action continues to flash caution signals, even as momentum 
indicators suggest oversold conditions. The broader market structure remains 
tilted to the downside, with bearish waves still unfolding and key support 
levels under pressure. Until a clear shift in structure and a strong bullish 
impulse emerge, the risk of further downside remains firmly on the table. 
Bearish Structure Dominates Solana On Lower Timeframe In the current follow-up 
wave outlook for Solana on the 1-hour timeframe, Elliott Waves Academy 
highlights that bearish control remains firmly intact. The price has already 
experienced a strong impulsive decline, marking the first leg of a broader 
downward trend. This move is likely unfolding as waves 3–5 within wave 
(1)/(A), suggesting that the market is still in the early stages of a larger 
bearish cycle. Related Reading: Solana (SOL) Rebound Feels Exhausted—Are 
Sellers Taking Over Again? At this stage, price is approaching the 100% 
extension of the prior wave, aligning with a key support level of $78.33. This 
zone is technically significant and could act as a temporary reaction point 
where buyers attempt to slow down the decline or trigger a short-term bounce. 
If the market fails to produce a convincing reversal at this support, the 
bearish structure is expected to extend further through the sub-waves of wave 
5, reinforcing sustained selling pressure in the medium term. From a short- 
term perspective, a wave 2 corrective rebound may develop before the next leg 
down. This bounce could take the form of a sharp, channeled recovery, often 
seen in counter-trend moves. However, any breakdown below key support during 
or after this correction would confirm that the broader bearish trend remains 
dominant, making it essential to monitor price action and structure at these 
levels closely. Weekly RSI Mirrors 2022 Bear Market Conditions According to 
More Crypto Online, the weekly RSI on Solana’s chart is currently showing 
similarities to the conditions observed during the 2022 bear market, just 
before the final bottom. This resemblance has drawn attention, as it may offer 
clues about the market’s current position within a broader cycle. Related 
Reading: Solana Breakdown Risk Builds As $94 Supply Zone Crushes Momentum Many 
market participants have pointed to the oversold RSI reading seen in February 
as a signal that a recovery could be underway. However, relying solely on RSI 
without confirmation from price structure can be misleading, especially in 
extended bearish phases. The current setup closely mirrors early 2022, when 
the market experienced a prolonged period of sideways movement before 
eventually forming a final low in both price and RSI. That historical pattern 
suggests that more consolidation or downside could still occur before a true 
bottom is established. For now, the comparison remains valid until a clear 
impulsive move to the upside is confirmed. Furthermore, a strong bullish 
impulse would significantly improve the overall outlook for Solana. Featured 
image from Freepik, chart from Tradingview.com

Solana Market Structure Warns Of More Downside Despite Oversold Conditions

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The post US forces capture Nicolás Maduro, confirming removal before 2027 
appeared first on Crypto Briefing.

US forces capture Nicolás Maduro, confirming removal before 2027

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Coinbase will cut about 700 employees, or 14% of its workforce, under a May 5 
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The company framed the move as a response to two forces: crypto-market 
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inside Coinbase. Armstrong […]
The post Coinbase cuts 14% of staff as Armstrong ties cost reset to AI and 
market volatility appeared first on CryptoSlate.

K Wave Media rejects Bitcoin for AI data centres

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