Bitcoin’s parabolic rise past $100K has Standard Chartered backpedaling fast, admitting its $120K forecast underestimated the explosive power of institutional momentum. Standard Chartered Apologizes for $120K Bitcoin Target Being Too Low Standard Chartered’s head of digital assets, Geoffrey Kendrick, issued a notable revision to his bitcoin outlook on Thursday, acknowledging that the cryptocurrency’s recent surge […]

$120K Was Too Low—Standard Chartered Apologizes for Undervaluing Bitcoin

Based on the latest analysis of Lookonchain, one wallet associated with the 
TRUMP token group sent a whopping 3.5 million TRUMP tokens on May 10, 2025. 
That stash is valued at roughly $52.66 million across multiple exchange 
platforms. When so much enters exchanges all at once, it can trigger massive 
price movements and increased volatility. Traders indicate they&#8217;re paying 
close attention to order books to determine if prices will fall. Meme-coin 
community tension is building. Related Reading: Taiwan Official Proposes 
Bitcoin As Part Of National Reserve Strategy Massive Token Transfer Between 
Exchanges According to reports, the 3.5 million‑token decrease was allocated 
on four key platforms. 1.5 million tokens worth approximately $22.41 million 
were given to Binance. 1 million tokens, worth around $15.06 million, were 
distributed to OKX. Both Bybit and Coinbase received 500,000 tokens, 
approximately worth $7.53 million and $7.48 million, respectively. The wallet 
linked to the $TRUMP team just deposited 3.5M $TRUMP($52.66M) into exchanges 
again.https://t.co/9nc4YjTvxEhttps://t.co/Y8lStmCWyw 
pic.twitter.com/alY3TRv1oz — Lookonchain (@lookonchain) May 10, 2025 Such 
distribution might facilitate availability for trade or be a starting point in 
selling. Using the top exchanges&#8217; choice shows the owner&#8217;s accessibility. 
Statistics come directly from the public blockchain. Market Maker Joins The 
Fray Simultaneously, market maker Cumberland DRW transferred 300,000 tokens to 
OKX for approximately $4.4 million. Combined with previous deposits, over $24 
million worth of TRUMP tokens flowed onto exchanges in recent days. Chain 
observers noted the timing, as the activity preceded a high-profile political 
reception on May 22. Some investors are concerned it is a sign of a group exit 
strategy among large holders. Others point out that market makers will 
frequently swap tokens to hedge against risk and balance order books. Either 
situation keeps eyes fixed on the next giant transfer. WLFI Increases Crypto 
Holdings Meanwhile, a wallet associated with World Liberty Financial purchased 
1,587 ETH for approximately $3.5 million. It also acquired 9.7 wrapped 
Bitcoin, valued at approximately $1 million. That spree comes on the heels of 
another $19.58 million token deposit that appeared on exchanges on April 29. A 
wallet likely linked to #Trump’s World Liberty(@worldlibertyfi) bought 1,587 
$ETH($3.5M) and 9.7 $WBTC($1M) ~30 minutes ago.https://t.co/0qWkRUhm0D 
pic.twitter.com/KaYsTQrQ6G — Lookonchain (@lookonchain) May 9, 2025 WLFI is 
associated with a political figure, which adds to the hype surrounding the 
TRUMP token. Analysts say this action indicates the group is serious about 
holding and transferring large amounts in crypto. Related Reading: Bitcoin’s 
Grip Loosens: Market Expert Says Dominance Has Hit Its Ceiling Price Movements 
Indicate Volatility Despite sell-off fears, TRUMP increased 2.50% over the 
last 24 hours and was trading at $14.09 at press time. That&#8217;s lower than a 
recent high of $15.15. The token&#8217;s market cap is close to $2.85 billion and 
24‑hour volume is almost $2.77 billion. Large transactions on the chain such 
as these will usually initiate quick changes in price. Traders will have their 
eyes glued on exchange books and social media feeds in the next few days. If 
another whale decides to shift tokens, markets will respond in an instant. 
TRUMP token is still at the mercy of its largest holders and the timing of 
their trades for now. Featured image from Unsplash, chart from TradingView

3.5 Million TRUMP Tokens On The Move—Trump Team Makes A Big Play

Florida teenagers are facing charges of kidnapping and stealing $4 million in 
cryptocurrency and non-fungible tokens. Teenagers to Be Tried As Adults Three 
Florida teenagers are reportedly facing charges of kidnapping and stealing $4 
million in cryptocurrency and non-fungible tokens (NFTs) from a Las Vegas- 
based man. The suspects have been identified as Belal Ashraf and […]

Florida Teens Charged in $4M Las Vegas Crypto Kidnapping

Coinbase reportedly considered adopting a Bitcoin investment playbook like 
Michael Saylor&#8217;s Strategy on multiple occasions, but decided against it each 
time out of fear that it would kill the firm&#8217;s crypto exchange, Bloomberg 
reported.
&#8220;There were definitely moments over the last 12 years where we thought, man, 
should we put 80% of our balance sheet into crypto &#8212; into Bitcoin 
specifically,&#8221; Coinbase CEO Brian Armstrong told Bloomberg in a May 9 video 
call.
Armstrong said the Bitcoin (BTC) strategy could have risked the company&#8217;s cash 
position and potentially killed the crypto exchange. &#8220;We made a conscious 
choice about risk,&#8221; he added.
Coinbase Chief Financial Officer Alesia Haas, who also attended the video 
call, added that the firm didn&#8217;t want to be seen as directly competing against 
its customers over which cryptocurrencies would outperform.
&#8220;Rest assured, we are not stopping there,&#8221; Haas said, as Coinbase reported 
purchasing another $153 million worth of crypto assets in its first quarter 
results statement on May 8, which was primarily concentrated in Bitcoin.
According to BitcoinTreasuries.net, Coinbase holds 9,480 Bitcoin &#8212; worth $988 
million at current market prices &#8212; which makes up the majority of its $1.3 
billion crypto asset holdings.
Armstrong&#8217;s crypto exchange is the ninth-largest corporate Bitcoin holder, 
trailing the likes of Strategy, Bitcoin miner MARA Holdings and Tesla.
_**Related:**__**$45 million stolen from Coinbase users in the last week &#8212; 
ZachXBT**_
Several companies have begun copying Saylor&#8217;s Bitcoin playbook, funding 
purchases through stock and debt sales on the bet that Bitcoin&#8217;s price 
appreciation will boost their share prices.
Over 100 public companies have now reported holding Bitcoin around the world, 
while another 40 exchange-traded fund issuers, 26 private firms and 12 nation 
states have also reported holding the cryptocurrency.
_Source:__Mitchell Askew_
## Coinbase deepens derivative offerings through Deribit acquisition
On May 8, Coinbase agreed to acquire crypto derivatives platform Deribit for 
$2.9 billion, marking the industry&#8217;s largest corporate acquisition to date.
The acquisition will expand Coinbase&#8217;s footprint in the crypto derivatives 
market immensely, which previously had been limited to its Bermuda-based 
platform.
Coinbase noted that Deribit facilitated over $1 trillion in trading volume in 
2024 and has around $30 billion of current open interest.
The deal now makes Coinbase the &#8220;global leader&#8221; in crypto derivatives trading, 
the firm said.
_**Magazine:**__**Crypto wanted to overthrow banks, now it &#8216;s becoming them in 
stablecoin fight**_

Coinbase considered Saylor-like Bitcoin strategy before opting out: Bloomberg

After weeks of sideways consolidation and uncertainty, Ethereum appears to 
have flipped a major psychological and technical corner. Bullish momentum in 
the past five days has caused Ethereum&#8217;s price action to surge past the $2,200 
level with conviction, rising more than 32% in the past seven days alone. The 
breakout comes as Bitcoin crossed the six-figure mark again, lifting the 
broader crypto market along with it. Related Reading: Bitcoin’s Grip Loosens: 
Market Expert Says Dominance Has Hit Its Ceiling According to technical 
analysis of Ethereum&#8217;s daily candlestick chart, this rally is more than just a 
reaction to Bitcoin; it is the start of a new long-term uptrend. $2,200 
Breakout Confirms Strength, Analyst Declares End Of Bear Market The recent 
surge has lifted Ethereum well beyond $2,000, a price level that acted as a 
ceiling in late March and early April. According to technical analysis posted 
on the TradingView platform by crypto analyst MasterAnanda, Ethereum&#8217;s bear 
market is finally over. This comment was made in light of what the analyst 
called a real bullish action, coupled with really high volume in the past few 
days. This, in turn, confirms a very strong high in the coming weeks and days, 
where Ethereum will grow daily non-stop for months. The recent rally has taken 
the price above the August 5, 2024, and February 3, 2025 lows, highlighted on 
a chart posted by the analyst on TradingView. The chart also shows that 
Ethereum broke free convincingly from a steep descending channel pattern that 
had trapped its price for months. The breakout is convincing because a large 
green candle accompanied by unusually high trading volume marked the breakout, 
lending credibility to the view that the bear phase is now over. “This is only 
the start,” the analyst wrote, adding that Ethereum’s path toward reclaiming 
its all-time highs is already underway. $5,791 An &#8216;Easy&#8217; Target, $10,000 
Before 2026 &#8216;Doable&#8217; According to MasterAnanda’s analysis, the current rally 
could easily carry Ethereum to the 1.618 Fibonacci extension level near 
$5,791.78. He describes this target as “easy”, given the strength of the 
breakout and the capital inflow that appears to be building behind it. 
Reaching the $5,791 price target would translate to a breakout to uncharted 
price territories above Ethereum&#8217;s current all-time high of $4,878. However, 
the prediction doesn&#8217;t stop there. A $10,000 Ethereum is not only possible but 
likely before the end of 2025 due to institutional money and retail sentiment 
flooding into the market. The chart illustrates Ethereum&#8217;s recovery path with 
various Fibonacci levels mapped out, showing resistance and retracement points 
ranging from $2,421 at the 0.382 extension up to $5,791 at the 1.618 
extension. Related Reading: Taiwan Official Proposes Bitcoin As Part Of 
National Reserve Strategy The analyst noted that around $250 billion in 
capital could eventually flow into the crypto market during this wave, with 
$10 to $15 billion already in play. He argues that the euphoric phase will 
begin once the remaining capital enters. At the time of writing, Ethereum is 
trading at $2,395. Featured image from Unsplash, chart from TradingView

Ethereum Surge Above $2,200 Says Bear Market Is Over, Analyst Calls $5,791 ‘Easy’ Target

Bitcoin&#8217;s rise amid US-China progress signals potential for reduced global 
tensions, enhancing its appeal as a stable investment asset.
The post Bitcoin nears all-time high as Trump touts major progress with China 
appeared first on Crypto Briefing.