Prediction markets closed out Consensus Miami 2026 as the subject of a live 
debate on whether they are regulated financial derivatives or gambling 
products operating outside state law. Prediction markets closed out Consensus 
Miami 2026 on Thursday as the subject…

Kalshi denies prediction markets are gambling products

Animoca Brands chairman Yat Siu told Consensus Miami 2026 that the metaverse 
is over as a consumer destination, and that 100 billion AI agents will become 
blockchain&#8217;s primary users. Animoca Brands chairman Yat Siu told Consensus 
Miami 2026 on Thursday…

Why Yat Siu rejects the metaverse

The leading prediction market closed its Series F funding round, led by 
Coatue, to reach institutions, which are Kalshi’s next target audience. The 
move comes as the company reported an astounding rise in annualized volume, 
going from $52 billion to $178 billion over the last six months. Kalshi Closes 
Series F Funding Round, Reaches $22 […]

Kalshi Hits $22 Billion Valuation After Massive $1 Billion Series F Funding Round

A crypto analyst has identified a multi-year Cup and Handle pattern on the 
Bitcoin (BTC) chart that he says has gone largely unnoticed by the broader 
market, despite its significance. The analyst believes this single formation 
signals a major bull trend ahead for Bitcoin, projecting a minimum price 
target of $220,000 once the cryptocurrency begins its parabolic move. 
Bitcoin’s Roadmap To A $220,000 Price Target Market analyst Crypto Tice has 
announced that Bitcoin has completed a Cup and Handle pattern that had been 
forming for years. In an X post, the expert clearly outlined the formation on 
a chart, displaying a rounded U-shaped curve that marks the Cup portion of the 
pattern. This is followed by a handle positioned just above it, defined by 
upper and lower trendlines that sit parallel to each other. Related Reading: 
Ripple’s $12.5 Trillion Claim: How Does XRP Fit Into 13,000 Banks? The 
emergence of a Cup and Handle pattern is often seen as a bullish indicator, as 
it signals that a cryptocurrency may be getting ready to break above 
resistance and extend its uptrend. Notably, Crypto Tice revealed that Bitcoin 
has already broken above a resistance zone of its Cup and Handle pattern, 
reinforcing his bullish stance. The analyst identified this key resistance 
between $62,000 and $74,000, noting that Bitcoin has also cleanly retested 
this area after its recent surge above $80,000. According to Crypto Tice, this 
successful retest has confirmed the overall structure, setting the stage for a 
potential continuation to the upside. Given the strength of these formations, 
Crypto Tice made clear that Cup and Handle patterns do not signal modest moves 
like a 20% rally. Rather, they have historically preceded gains in the 
hundreds of percent, suggesting that a massive price surge could be on the 
horizon for Bitcoin. The analyst predicts that Bitcoin’s next launch phase 
points toward a minimum upper price target of $220,000. This means he expects 
the cryptocurrency to rally even higher if its bullish momentum persists after 
it hits the initially projected high. From its current price above $80,000, 
this would represent a potential gain of more than 171% for Bitcoin. Analyst 
Maps Out Bitcoin’s Potential Rally To $500,000 In a separate analysis, Crypto 
Tice shared a longer-term outlook for Bitcoin, projecting a massive price 
surge to $500,000. He outlined a clear roadmap showing how the BTC price could 
reach this ambitious target. Related Reading: Bitcoin Has Entered Its ‘Most 
Dangerous Quarter,’ And This Expert Is Warning Investors The analyst pointed 
to an ascending channel on the Bitcoin chart, defined by two parallel straight 
lines. The channel shows that Bitcoin previously experienced a parabolic rally 
after completing three distinct moves, which Crypto Tice identified as a 
“first touch” of a support level, “a midrange rally,” and a “rejection back to 
support.” Now, the analyst believes that Bitcoin has completed the same three 
moves within the current channel, reinforcing his bullish stance. He added 
that Bitcoin is also currently sitting at the second support touch, likely 
preparing to launch its next bull trend, with a potential price target of 
$500,000 in sight. Featured image from Dall.E, chart from TradingView.com

Analyst Sets $220,000 Minimum Price Target For Bitcoin, But How Will It Get There?

Two affiliates of the crypto-backed PAC Fairshake reported media buys for 
political candidates in Georgia, Alabama, Nebraska, Kentucky and Texas this 
week.

Crypto PACs spend $7.2M to support candidates in 5 US states ahead of elections

Strategy—formerly known as MicroStrategy—could meaningfully accelerate its 
Bitcoin-buying pace this year, according to analysts at JPMorgan. The firm, 
led by well-known Bitcoin bull Michael Saylor, is already one of the largest 
publicly traded Bitcoin treasury companies, and JPMorgan believes its next 
move may be a larger, faster round of acquisitions. Strategy Could Outpace 
Past Bitcoin Buying Strategy currently holds more than 818,000 Bitcoin, 
according to BitcoinTreasuries.net. Purchases have been active throughout 
2026: the company reportedly added over 145,000 BTC in just five months, which 
is estimated at roughly $11 billion. JPMorgan analysts, however, said that 
amount could rise substantially. Under their view, Strategy’s Bitcoin 
purchases this year could reach $30 billion over the course of the year. At 
today’s implied annualized pace, that would put 2026 purchases far above the 
roughly $22 billion acquired across 2024 and 2025 combined. Related Reading: 
VanEck Forecast: Bitcoin Could Climb To $1,000,000 By 2031, Research Head Says 
JPMorgan pointed to a change in momentum in April, saying Strategy “appears to 
have re-accelerated its bitcoin purchases.” The analysts tied the behavior to 
what they described as an increasingly opportunistic buying pattern. The 
optimism around Strategy’s plan also showed up in analyst price targets. On 
Thursday, TD Cowen raised its target price for the company’s stock, MSTR, from 
$385 to $395. As of the time of writing, MSTR closed at $179, translating to 
an 18% gain since the beginning of the year. If TD Cowen’s forecast were to 
play out, the implied move would represent about a 120% jump from current 
levels. Net Loss Vs. Big Forecast Analysts also highlighted the financing 
approach by Strategy behind the acquisitions. They say the firm&#8217;s increased 
use of STRC (variable-rate perpetual preferred stock) to fund Bitcoin 
purchases could improve capital efficiency, making it more attractive relative 
to prevailing market pricing. Still, the company&#8217;s latest financial picture 
includes major losses. Strategy reported a net loss of $12.54 billion for the 
quarter, driven largely by an unrealized decline in Bitcoin fair value of 
$14.46 billion. Related Reading: This New Move Just Opened XRP To 44 Million 
New Users Looking ahead, the base case and scenarios for Strategy reflect a 
bullish outlook. The firm’s base case is that Bitcoin could reach 
approximately $140,000 by the end of 2026, with an upside scenario of about 
$175,000. Separately, Joseph Vafi at Canaccord Genuity reiterated a Buy rating 
on May 7, lifting his MSTR price target from $185 to $224. Canaccord noted 
that since Bitcoin has rebounded—moving up from its roughly $62,000 low to 
more than $80,000—Strategy has continued to “weather another perceived storm. 
Featured image created with OpenArt, chart from TradingView.com

Kalshi denies prediction markets are gambling products

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