Cardano is showing early signs of a bullish continuation, with strong support forming at the critical $0.50 zone. If this level holds, the path to $1.13, and potentially $2, may soon open up for ADA. After a prolonged consolidation, Cardano…

Cardano’s bullish reversal: will a break above $1.13 trigger the next big rally?

Bitcoin is trading at $101,645, down 2.79% over the past 24 hours, while 
ethereum follows at $2,432, marking a 2.9% daily decline. The downward 
movement coincides with a cascade of liquidations across the crypto 
derivatives market. Over the last 24 hours, a total of $699.71 million in 
leveraged positions were wiped out, with long traders […]

Bitcoin Slips Below $101K as $700M in Liquidations Rock Crypto Market

**Key points:**
 * Bitcoin seeks consolidation after rapid gains as stocks and the US dollar surge on US-China trade deal news.
 * Nearby order book liquidity forms potential targets for traders, which now include $102,000.
 * A classic moving average retest suggests that a new all-time high should result.
Bitcoin (BTC) stuck to $104,000 at the May 12 Wall Street open as markets 
shifted on US-China trade deal news.
_BTC/USD 1-hour chart. Source: Cointelegraph/TradingView_
## 
Bitcoin surfs US-China trade deal reactions
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD 
consolidating after hitting its highest levels since late January.
The US and China agreed to slash reciprocal trade tariffs on the day, causing 
the S&amp;P 500 and Nasdaq Composite Index to gain around 3%.
US dollar strength also benefited as a result, with the US dollar index (DXY) 
hitting one-month highs.
_US dollar index (DXY) 1-day chart. Source: Cointelegraph/TradingView_
&#8220;The last time US tariffs on China were this high, the S&amp;P 500 was ~200 points 
lower, 4 Fed rate cuts were expected in 2025, and Wall Street was calling for 
a recession,&#8221; trading resource The Kobeissi Letter wrote in part of ongoing 
analysis on X.
&gt; &#8220;Sentiment is everything.&#8221;
_US tariffs on China. Source: The Kobeissi Letter/X_ 
Bitcoin thus adopted the middle ground between major assets on the day as gold 
dropped precipitously to $3,208 per ounce, nearing month-to-date lows.
&#8220;BTC Swept most nearby liquidity above after chopping around the $103K-$105K 
area for a few days,&#8221; popular trader Daan Crypto Trades told X followers 
alongside a chart of exchange order book liquidity from monitoring resource 
CoinGlass.
&gt; &#8220;Below keep an eye on the ~$102K region as that&#8217;s a pretty dense area in 
&gt; terms of liquidation clusters. Could be a good level for some action. 
&gt; Depending on the reaction there you can reassess.&#8221;
_BTC liquidation heatmap. Source: CoinGlass_
CoinGlass data showed increasing bids around the $103,000 mark after the Wall 
Street open.
## 
New BTC price record &#8220;in the making&#8221;
Continuing, fellow trader CrypNuevo was among those doubling down on a longer- 
term bull thesis for BTC price action.
_**Related:**__**Is Bitcoin about to go parabolic? BTC price targets include 
$160K next**_
BTC/USD, he noted, had conducted a successful retest of the 50-week 
exponential moving average (EMA).
Currently at $80,300, the 50-week EMA has functioned as a springboard for new 
all-time highs in recent years.
&#8220;We got the 1W50EMA retest and, consequently, the next leg up,&#8221; CrypNuevo 
explained in an X thread on May 11.
&gt; &#8220;Every previous time that we saw this structure, we made a new high so the 
&gt; trend signals a new ATH in the making.&#8221;
_BTC/USDT 1-week chart with 50 EMA. Source: CrypNuevo/X_
Earlier, Cointelegraph reported on a classic bull market breakout signal on 
weekly timeframes in the form of a cross on the moving average 
convergence/divergence (MACD) indicator.
This article does not contain investment advice or recommendations. Every 
investment and trading move involves risk, and readers should conduct their 
own research when making a decision.

Bitcoin all-time high cues come as US-China deal sends DXY to 1-month high

Brave has added support for Cardano, bringing the cryptocurrency to the browser-native wallet. The integration follows a partnership between web3 blockchain infrastructure firm and Cardano (ADA) developer Input | Output and Brave Software, the company behind the privacy-first browser and…

Brave Wallet expands support with Cardano integration

Tether&#8217;s USDt (USDT) surpassed a $150 billion market capitalization for the 
first time on May 12, marking a new milestone amid growing stablecoin 
adoption.
USDt&#8217;s circulating supply has expanded by over 36% in the past year, with 
growth accelerating in November following the election of US President Donald 
Trump.
_USDt &#8216;s market cap growth over the past year. Source: __CoinMarketCap_
At its current supply, Tether accounts for 61% of the global stablecoin 
market, according to CoinMarketCap data. It&#8217;s followed by Circle&#8217;s USDC 
(USDC), which accounts for nearly 25% of the stablecoin market.
As the world&#8217;s largest stablecoin, Tether is widely viewed as a barometer for 
cryptocurrency demand, given its central role in providing liquidity and 
funding for crypto trading.
Tether is part of a broader trend toward digital fiat currencies, with recent 
data from Dune and Artemis showing that the number of active stablecoin 
wallets has surged more than 50% over the past year, from 19.6 million to 30 
million.
_**Related:**__**$1T stablecoin supply could drive next crypto rally &#8212; 
CoinFund&#8217;s Pakman**_
## Tether eyes US reboot
Despite its large presence globally, Tether&#8217;s usage is restricted in the 
United States, a country now at the forefront of pro-crypto legislation.
Against this backdrop, Tether is planning to enter the US with a new dollar- 
backed stablecoin later this year.
&#8220;A domestic stablecoin would be different from the international stablecoin,&#8221; 
Tether&#8217;s CEO, Paolo Ardoino, reportedly said on the sidelines of the Token2049 
conference in Dubai, United Arab Emirates.
According to a CNBC report, Tether is increasing lobbying efforts in 
Washington as US lawmakers consider several stablecoin-related bills, 
including the STABLE Act, introduced by House Financial Services Committee 
Chair French Hill and Digital Assets Subcommittee Chair Bryan Steil.
_Former CFTC Chair Timothy Massad delivers remarks at a Feb. 11 House 
committee meeting. Source:__GOP Financial Services_
However, the STABLE Act has drawn criticism. As reported by Cointelegraph, 
former Commodity Futures Trading Commission Chair Timothy Massad argued the 
bill would do little to rein in Tether.
Speaking during a Feb. 11 hearing of the House Subcommittee on Digital Assets, 
Financial Technology, and Artificial Intelligence, Massad said the proposal 
poses &#8220;far too much risk of weak state standards&#8221; and suffers from &#8220;an 
inadequate review process,&#8221; noting the lack of &#8220;ongoing federal supervision of 
state issuers.&#8221;
_**Related:**__**US crypto bills compared: STABLE Act vs GENIUS Act**_

USDt market cap hits $150B for first time as Tether eyes US expansion

Dubai will become one of the world’s first governments to fully enable crypto 
payments for public services, following a landmark agreement signed between 
Dubai’s Department of Finance and Crypto.com. Announced at the Dubai FinTech 
Summit on May 12, the memorandum…