An increase in Bitcoin open interest suggests that leverage is driving Bitcoin&#8217;s surge to ATH.

Bitcon hits new all-time high as open interest spikes, retail stays on sidelines

XRP just got a Wall Street upgrade as two powerful ETFs hit Nasdaq, giving 
traders unmatched access without the crypto hassle. Volatility Shares Launches 
XRP-Backed ETFs With Direct and 2x Exposure Volatility Shares introduced two 
new exchange-traded funds (ETFs) on May 22—XRPI and XRPT—marking a significant 
milestone for investors seeking streamlined access to XRP markets […]

XRP Futures Heat up as Nasdaq Welcomes XRPI and XRPT in Major ETF Debut

Bitcoin&#8217;s price action in the past 24 hours has been nothing short of 
remarkable. After consolidating for several days in a tightening range, the 
market broke past the $105,503 support-turned-resistance zone earlier in the 
week and kicked off a steep climb in the past trading day. This has allowed 
Bitcoin to push into new all-time high levels, and is showing no signs of 
slowing down. Interestingly, technical analysis shows the rally comes off an 
approach of a golden cross between the 50 and 200-day moving averages, but 
FX_Professor offered a different take on the much-celebrated golden cross. 
Analyst Disputes Golden Cross Hype As Late Signal In a recent analysis 
published on TradingView, FX_Professor discussed a different take on Bitcoin&#8217;s 
golden cross. While most market commentators interpret this crossover of the 
50-day simple moving average above the 200-day as a strong bullish 
confirmation, the analyst dismissed it as a delayed indicator. The analyst 
described it as the afterparty where retail investors arrive late to the 
scene. Related Reading: Golden Ratio Multiplier Called Bitcoin Top In 2021 – 
Here’s What It’s Saying Now Instead of waiting for the golden cross to flash 
green, FX_Professor noted pre-indicator pressure zones as the real signal of 
value. In the case of Bitcoin&#8217;s price action in recent months, the analyst 
pointed out the $74,394 and $79,000 region as the zone of accumulation and 
early positioning, well before the golden cross became visible. As such, by 
the time the cross appeared recently, Bitcoin&#8217;s price action had already been 
up significantly. The golden cross is often used by traders as a signal to 
enter a long position, as it suggests that the asset&#8217;s price is likely to 
continue rising. However, this analysis follows a trend among experienced 
traders who view the golden cross as more of a lagging confirmation than a 
trigger of a rally. Early Entry Zones And Structure Matter More, Analyst Says 
According to FX_Professor, indicators such as EMAs or SMAs can be useful but 
should never come before understanding the price structure, trendlines, and 
real-time pressure zones. He shared a snapshot of his own Bitcoin price chart 
that combines custom EMAs with a signature parallelogram method to detect 
where price tension begins to build. Visible on the chart are entries forming 
as early as April when Bitcoin bounced off support around $74,000, long before 
the crossover confirmation. Related Reading: Bitcoin Top Indicator Says It’s 
Not Over Yet As Parabola Signals Fail Now, with Bitcoin pushing toward the 
next target zone near $113,000, the analyst’s strategy continues to validate 
itself in real time. Nonetheless, the confirmation of a golden cross is still 
bullish for Bitcoin&#8217;s price action moving forward, even if the price rally is 
already halfway to its peak level. At the time of writing, Bitcoin is trading 
at $110,734. This marks a slight pullback from the new all-time high of 
$111,544, which was registered just three hours ago. The Bitcoin price is 
still up by 3.1% in the past 24 hours, and new all-time highs are possible 
before the weekly close. Featured image from Getty Images, chart from 
Tradingview.com

Bitcoin Golden Cross In Play – Analyst Reveals Best Course Of Action

A new research report by River reveals that nearly 50 million Americans, or 
14.3% of the population, own bitcoin, the highest ownership rate of any 
geographical region. Additionally, the report highlights that 32 American 
public companies, with a combined market capitalization of $1.26 trillion, 
hold bitcoin as a treasury asset. Bitcoin Ownership Demographics and Corporate 
[…]

Study: US Leads Global Bitcoin Ownership With 14.3% Adoption Rate

An American tourist in the United Kingdom was reportedly drugged by an 
individual posing as a taxi driver, who stole the tourist&#8217;s $123,000 in 
Bitcoin stored on a cell phone.
According to a report from My London, Jacob Irwin-Cline went out to a London 
bar and had several drinks before calling an Uber to take him home.
Cline said that he did not thoroughly check the details of the Uber ride on 
his phone and left with a random private cab driver resembling the Uber driver 
at first glance, but driving a different vehicle &#8212; a detail Cline would only 
discover after the incident.
Once inside the vehicle, the US tourist said the driver offered him a 
cigarette, which Cline said was likely laced with a rare and potent sedative 
drug called scopolamine. Cline added that the cigarette made him feel 
extremely docile and tired, causing him to pass out for around 30 minutes 
before regaining consciousness.
Shortly after Cline woke up, the driver ordered him out of the vehicle. As 
Cline exited, the driver suddenly sped off, striking him with the car and 
fleeing with his cellphone, which contained his private keys and access to his 
crypto accounts.
The unfortunate incident comes amid a recent spate of kidnappings, extortion 
incidents, armed robberies, and ransom attempts directed at crypto industry 
executives, investors, and their families.
_**Related:**__**Chainalysis CEO offers a clue into recent spate of Paris 
crypto attacks**_
## Crypto community members become the targets of violent crime
Several kidnapping incidents involving crypto investors, industry executives, 
and their families have occurred in May.
On May 3, the father of an unnamed crypto exchange owner was freed by French 
police after law enforcement officials raided the property where the 
individual was being held captive by organized criminals demanding a ransom 
for his release.
Shortly after that incident, the daughter and grandson of Pierre Noizat, the 
CEO of the Paymium crypto exchange, were the targets of an attempted 
kidnapping in Paris.
The incident occurred in broad daylight when the assailants attacked the 
family and attempted to force them into a parked vehicle. However, Noizat&#8217;s 
daughter and another individual were able to fight off the masked attackers.
The rise in violent attacks against crypto investors and professionals has 
prompted an increase in personal security, including requests for bodyguards 
and private security measures for those likely to be victimized.
_**Magazine:**__**China &#8216;s &#8216;point running&#8217; crypto scams, pig butchers kidnap 
kids: Asia Express**_

US tourist drugged by fake Uber driver and robbed of $123K BTC — Report

Though a majority of members of the US Senate voted to advance a bill to 
regulate payment stablecoins on May 20, high-ranking Democrats are planning to 
propose an amendment to the legislation to address President Donald Trump&#8217;s 
connections to the cryptocurrency industry.
According to a May 22 Axios report, Senate Minority Leader Chuck Schumer and 
Senators Elizabeth Warren and Jeff Merkley will file an amendment to the 
Guiding and Establishing National Innovation for US Stablecoins Act, or GENIUS 
Act, to block a US president from profiting from stablecoins. The proposed 
amendment would come after 18 Democrats sided with Republicans in the Senate 
in voting to advance the bill on May 20 after it failed a procedural vote on 
May 8.
&#8220;Passing the GENIUS Act without our anti-corruption amendment stamps a 
Congressional seal of approval on Trump selling access and influence to the 
highest bidder,&#8221; Merkley said in a May 22 X post.
Trump his three sons are involved in the crypto platform World Liberty 
Financial (WLFI), which launched its USD1 stablecoin in March. Critics have 
pointed out that the president could continue to personally benefit from 
legislation that helps recognize stablecoins like USD1 as financial 
instruments in the US.
_**Related:**__**US lawmaker introduces anti-corruption bill ahead of Trump &#8216;s 
dinner**_
An Abu Dhabi-based investment firm said that it would use USD1 to settle a 
$2-billion investment in Binance, effectively allowing the president&#8217;s family 
to profit from the transaction fees. Democratic lawmakers have already called 
for an investigation into Trump&#8217;s connections to the platform, which was 
largely dismissed as &#8220;flawed&#8221; by WLFI co-founder Zach Witkoff.
## Stablecoins are just one of many potential conflicts, say Democrats
Merkley and Warren are also planning responses to Trump hosting a dinner at 
his golf club for up to 220 people who purchased the most significant amounts 
of his personal memecoin. Merkley is expected to attend a protest organized by 
the consumer advocacy group Public Citizen, in partnership with progressive 
political organization Our Revolution, outside the Trump venue on May 22.
Warren held a press conference with Merkley, Senator Chris Murphy and Public 
Citizen representatives, calling on Trump to &#8220;release the guest list&#8221; for the 
dinner event. Though a few of the potential attendees have publicly announced 
they were the owners of the wallets who purchased the memecoin and intended to 
go, the majority were still anonymous at the time of publication.
&#8220;What is happening tonight &#8212; this private, secret dinner &#8212; in which 
individuals who have put money in Donald Trump&#8217;s pocket, get access to him, is 
maybe the most corrupt of all the corruption,&#8221; said Murphy, adding:
&gt; &#8220;They were able to pay their way in to get an audience with the President of 
&gt; the United States to ask for favorable national security concessions.&#8221;
Cointelegraph reached out to the White House for comment, but had not received 
a response at the time of publication.
_**Magazine:**__**Trump &#8216;s crypto ventures raise conflict of interest, insider 
trading questions**_