Cryptocurrency prices rallied last week as U.S. President Donald Trump said, without citing examples, that trade talks with other countries were taking place. Bitcoin (BTC) jumped above $95,000 for the first time in over a month, while the market cap…

Top cryptocurrencies to watch this week: Pi Network, XRP, Sui

Crypto markets and investor confidence are poised for explosive growth as new 
SEC leadership vows to end overreach, restore fairness, and champion clear 
digital asset regulations. New SEC Leadership Signals Massive Win for Crypto 
Innovation and Investor Confidence Paul Atkins officially assumed leadership 
of the U.S. Securities and Exchange Commission (SEC) during a swearing-in 
ceremony […]

New SEC Chair Promises Radical Crypto Reforms—Vows to Make US the Top Investment Hub

**Key takeaways:**
 * Heavy liquidations played a role in Bitcoin&#8217;s return to $95,000.
 * Bitcoin&#8217;s weakening correlation with stocks highlights its growing independence as an asset.
 * Bullish institutional investor positioning contrasts with retail traders&#8217; caution, supporting a rally above $100,000.
Bitcoin (BTC) gained 11% between April 20 and April 26, demonstrating 
resilience by holding near its two-month high around $94,000. This relief 
rally followed signals from the Trump administration about easing import 
tariffs, as well as strong corporate earnings reports.
Investor confidence in Bitcoin was further boosted by a record $3.1 billion in 
net inflows to spot Bitcoin exchange-traded funds (ETFs) over five days. 
However, a key BTC derivatives indicator showed signs of bearish momentum, 
raising questions about whether the $100,000 target is still realistic.
Perpetual Bitcoin futures contracts are favored by retail traders because 
their prices closely track the spot market. A positive funding rate means that 
buyers pay to maintain their positions, so a reversal in this rate is 
typically linked to bearish trends.
_Bitcoin perpetual futures annualized funding rate. Source: Laevitas.ch_
The sharp negative funding rates recorded on April 26 are highly unusual 
during bull markets, as they indicate stronger demand from sellers. This 
metric has been volatile since April 14, but sellers were caught off guard as 
Bitcoin&#8217;s price climbed above $94,000. Since April 21, over $450 million in 
BTC short positions have been liquidated.
Some of the renewed confidence and Bitcoin&#8217;s price strength can be attributed 
to the S&amp;P 500&#8217;s 7.1% weekly gain. However, despite this optimism, US 
President Donald Trump reportedly said on April 25 that negotiations would 
depend on China making concessions, causing traders to question the 
sustainability of recent gains.
Companies are now reporting first-quarter earnings from before the escalation 
of the trade war, so the factors driving the stock market and Bitcoin are 
different. In fact, Bitcoin&#8217;s price is no longer closely correlated with the 
S&amp;P 500.
_30-day correlation: S &amp;P 500 vs Bitcoin/USD. Source: TradingView / 
Cointelegraph_
Currently, the 30-day correlation between the S&amp;P 500 and Bitcoin stands at 
29%, well below the 60% level seen from March to mid-April. While this lower 
correlation does not mean a complete decoupling, since investor sentiment is 
still influenced by macroeconomic factors, it does show that Bitcoin is not 
simply a proxy for technology stocks.
## Bitcoin&#8217;s status as an independent asset has strengthened
Gold&#8217;s inability to maintain its bullish momentum after reaching an all-time 
high of $3,500 on April 22 was also seen as significant for Bitcoin&#8217;s status 
as an independent asset class. Some traders had questioned the &#8220;digital gold&#8221; 
narrative, but the longer BTC remains above $90,000, the more confidence 
investors may have, potentially paving the way for further gains.
The increased demand for bearish leverage in perpetual BTC futures does not 
align with the sentiment of professional traders. Monthly Bitcoin futures 
contracts avoid fluctuating funding rates, so traders know their leverage 
costs in advance.
_Bitcoin 2-month futures annualized premium. Source: Laevitas.ch_
On April 26, the two-month Bitcoin futures premium (basis rate) rose to its 
highest level in seven weeks, indicating greater interest in bullish 
positions. At 6.5%, this metric remains within the neutral 5% to 10% range, 
but is moving away from bearish territory.
The disconnect between leverage demand in perpetual futures and monthly BTC 
contracts is not unusual. Even if retail traders remain cautious, substantial 
accumulation by institutions could be enough to push Bitcoin&#8217;s price above 
$100,000 in the near future.
This article is for general information purposes and is not intended to be and 
should not be taken as legal or investment advice. The views, thoughts, and 
opinions expressed here are the author&#8217;s alone and do not necessarily reflect 
or represent the views and opinions of Cointelegraph.

New Bitcoin price all-time highs could occur in May — Here is why

Welcome to Latam Insights, a compilation of the most relevant crypto and 
economic news from Latin America over the past week. In this week’s edition, 
the first XRP ETF debuts in Brazil, Argentina keeps winning the dollar battle, 
and experts warn about an energy collapse in Paraguay due to bitcoin mining. 
XRP ETF Launches in […]

Latam Insights: XRP ETF Debuts in Brazil, Argentina Keeps Trumping the Dollar

**Key takeaways:**
 * Norges Bank lost $40 billion in Q1 2025 as US tech stocks fell, exposing the risk of concentrated positions.
 * The bank&#8217;s indirect Bitcoin exposure via stocks reached $356 million, raising sell pressure risk amid a global trade war and recession concerns.
 * Abu Dhabi&#8217;s $437 million spot Bitcoin ETF stake shows sovereign wealth funds see Bitcoin as a hedge.
Norges Bank, Norway&#8217;s $1.7 trillion sovereign wealth fund, reported a $40 
billion loss in the first quarter of 2025, with most of the decline caused by 
a drop in the value of US-listed technology companies. Norges Bank also 
indirectly owned 3,821 BTC through its stock market investments by the end of 
2024, presenting a potential sell pressure risk to Bitcoin, especially when 
considering the socio-political uncertainty and the risk of an economic 
recession caused by the global trade war.
In such times, could Norges Bank increase its investments in Bitcoin-related 
companies or even buy spot Bitcoin exchange-traded funds (ETFs) as a way to 
hedge risk?
For now, it seems unlikely that Norway&#8217;s investment fund would consider buying 
a Bitcoin ETF, especially since the fund does not hold any gold. Besides 
stocks and bonds, Norges Bank invests in real estate, including retail, 
industrial, renewable energy, and logistics properties worldwide.
Norway sold all of the central bank&#8217;s gold by early 2004, when gold was 
trading below $400. Since then, gold has outperformed the S&amp;P 500 by 280%. 
Equities now make up 71.4% of the fund&#8217;s total investments, so if the global 
trade war continues, significant losses could occur.
_Gold/USD (orange) vs. S &amp;P 500. Source: TradingView / Cointelegraph_
Norges Bank investments generated $222 billion in profits in 2024, and its 
stock market portfolio dropped by only 1.6% in the first quarter of 2025. 
Norway&#8217;s sovereign wealth fund is &#8220;mainly index-driven,&#8221; according to CEO 
Nicolai Tangen, specifically following the FTSE Global All Cap Index.
Although this index includes over 7,100 stocks from both developed and 
emerging markets, it is based on market capitalization, which means 65% of the 
exposure is to North American companies. But, according to Norges Bank Deputy 
CEO Trond Grande, there is some flexibility for active investment, and their 
exposure to US-listed tech stocks has been below the benchmark for the past 18 
months.
Some of these holdings, such as Strategy, Mara Holdings, Coinbase, and Riot 
Platforms, hold large amounts of Bitcoin (BTC) on their balance sheets. As a 
result, even if not intentional, the sovereign wealth fund had a $356 million 
indirect exposure to Bitcoin at the end of 2024.
_FTSE Global All Cap (purple) vs. FTSE + 10% Bitcoin (green). Source: 
TradingView / Cointelegraph_
Data shows a 5% hypothetical allocation in Bitcoin back in 2018 would have 
boosted the fund&#8217;s equities benchmark performance by 56%.
## Buying Bitcoin ETFs seems unlikely, but indirect exposure remains possible
Technically, it seems unlikely that Norges Bank could buy into the spot 
Bitcoin ETF without changing the fund&#8217;s mandate. However, increasing exposure 
to companies with significant Bitcoin holdings appears possible. Still, there 
is no sign of such a move, although Nicolai Tangen stated on April 24 that the 
fund will increase investments in US stocks.
_**Related:**__**China may shift from US Treasurys toward gold, crypto &#8212; 
BlackRock exec**_
The fact that Mubadala Investments, one of Abu Dhabi&#8217;s sovereign wealth funds, 
held a $437 million stake in BlackRock&#8217;s iShares Bitcoin ETF (IBIT) helps 
build a case for such investment. Similarly, the State of Wisconsin Investment 
Board held $321 million in spot Bitcoin ETFs, showing the growing use of 
cryptocurrency as a hedge.
This article is for general information purposes and is not intended to be and 
should not be taken as legal or investment advice. The views, thoughts, and 
opinions expressed here are the author&#8217;s alone and do not necessarily reflect 
or represent the views and opinions of Cointelegraph.

Norway’s sovereign wealth fund lost $40B in Q1— Will it hedge risk by increasing Bitcoin exposure?

DeFi Development Corp. (formerly Janover Inc.), a publicly traded firm focused 
on optimizing its treasury strategy within the solana ecosystem, has filed a 
registration statement with the Securities and Exchange Commission (SEC) to 
raise up to $1 billion through various securities offerings. The filing, dated 
April 25, 2025, includes common stock, preferred stock, debt securities, […]