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According to The Block, analysts at research firm Bernstein stated in their latest report that the fundamentals of the crypto market are continuously improving. The recent low of $60,000 for Bitcoin has formed a clear bottom, and the current price is approaching $80,000. Driven by institutional demand, a longer structural bull market is expected.Bernstein analyst Gautam Chhugani pointed out the following core driving factors:Institutional channels continue to expand: Morgan Stanley's Bitcoin ETF and Charles Schwab's spot Bitcoin/Ethereum trading platform have been launched one after another, with about 60% of Bitcoin supply not having moved for over a year, indicating a stable holder structure;Strategy continues to increase holdings: its STRC perpetual preferred stock product attracts income-focused investors, with current holdings reaching 818,334 Bitcoins;Demand for stablecoins reaches an all-time high: stablecoin supply has surpassed $30 billion, decoupling from the price cycle of the crypto market, showing that real payment and settlement demand continues to grow;Tokenization of real assets accelerates expansion: the scale of tokenized assets such as private credit and government bonds has reached $345 billion, a year-on-year increase of 110%.Bernstein also noted that quantum computing poses a long-term potential risk, but the blockchain ecosystem is expected to have ample time to complete the post-quantum security transition.

The newly appointed chief economist of New Fire Group, Fu Peng, stated on Twitter that the underlying business model of Bitcoin perpetual contracts is essentially the same as the "rollover fee/overnight fee" in traditional finance's gold and industrial commodity spot exchanges.Fu Peng pointed out that back in the day, gold exchanges settled through daily forced liquidation, with longs and shorts paying each other rollover fees. When retail investors held a large number of high-leverage long positions, the rollover fee became the most stable and hidden source of income for the platform. Nowadays, Bitcoin spot platforms mainly rely on perpetual contracts, with both sides settling the funding rate every 8 hours. When longs dominate, retail investors holding long positions continuously pay funding rates to shorts.Although the platform does not directly collect this fee, it significantly enhances trading activity, open interest, and liquidity, indirectly generating a large amount of fee income and forming a stable and substantial cash flow. Essentially, it is a business model where large players/institutions "collect rent" from long-term holdings, retail investors pay for leverage to go long, and the platform indirectly takes a cut.

According to ABC News, multiple sources have revealed that the U.S. Department of Justice is expected to terminate the criminal investigation into Federal Reserve Chairman Powell as early as Friday.

According to on-chain analyst Axel Adler Jr (@AxelAdlerJr), the discount for short-term holders (STH) has narrowed from -21.6% to -5.7%, and the 7-day moving average of STH-SOPR has risen back above 1, indicating that short-term sellers are no longer clearly in a loss position. However, the current price is still below the cost basis of $83,000, and the market has not yet entered a true risk appetite phase.

According to The Block, the price of Bitcoin has surpassed $78,000, and the Fear and Greed Index has moved out of the extreme fear zone. K33 Research indicates that Bitcoin may maintain its upward momentum, with a high likelihood of more short squeezes occurring in the short term.The K33 report points out that in the past week, interest rates have continued to decline, while prices have climbed to a three-month high. The open interest has been steadily increasing, and the lows are also being raised. The leverage ratio is gradually rising, combined with extremely low interest rates, indicating that short positions are steadily increasing, which not only raises the possibility of future short squeezes but also increases their potential scale.

According to Gate market data, the US dollar index DXY has dropped 10 points in the short term, currently reported at 98.28.

Grayscale analyst Zach Pandl disclosed data showing that Bitcoin has rebounded over 20% from its low of about $63,000 in early February, with the current price around $76,000, slightly above the average cost (realized price) of about $74,000 for buyers in the past 1 to 3 months, indicating that most short-term investors have returned to the breakeven zone.Analysis suggests that if the price continues to rise, more recent buyers will enter a profitable state, which is often seen as one of the important signals at the beginning of a bull market. However, Bitcoin is still below the peak from last October. Market views indicate that this round of recovery may have formed a relatively solid phase bottom in the range of $65,000 to $70,000.

Etherealize has released the latest report, adjusting the long-term price expectation for Ethereum (ETH) to $250,000.This prediction is based on a core assumption: if ETH can acquire a "monetary premium" like gold and Bitcoin, occupying a place in the approximately $31 trillion value storage market, its price will reach this level. The report argues that ETH has unique properties historically, being not only a value storage tool but also a "yield-generating asset," distinguishing it from traditional asset forms.

According to Gate market data, the US dollar index DXY has risen more than 10 points in the short term, currently reported at 98.52. Non-US currencies have declined, with the euro against the US dollar and the Australian dollar against the US dollar both falling more than 0.5% during the day; the US dollar against the Swiss franc and the US dollar against the Japanese yen have both risen more than 0.5% during the day.

According to Bloomberg, political groups associated with the cryptocurrency industry have accumulated nearly $180 million in funding reserves ahead of this year's U.S. midterm elections, surpassing the funding levels of some major Republican super PACs.The report states that most of this funding has been carried over from last year, with the vast majority held by Fairshake. Fairshake's main backers include Coinbase, Ripple Labs, and Andreessen Horowitz.

With time still remaining until the U.S. midterm elections, Trump's super PAC raised $35.6 million in March, bringing its campaign fund reserves to $550 million, setting a record for presidential midterm election cycles. It is attempting to maintain the Republican majority in Congress amid a tough election battle.According to Federal Election Commission documents, long-time Republican donor Diane Hendricks—who spoke at the Republican National Convention in 2024—contributed the majority of this month's fundraising, donating $25 million. Venture capitalists Marc Andreessen and Ben Horowitz each donated $3 million. The California-based tribal organization Yocha Dehe Wintun Nation donated $2 million. A subsidiary of prison operator GEO Group Inc. (a federal contractor whose clients include Immigration and Customs Enforcement) donated $1 million.As a large influx of funds arrives, polls show that Trump's voter coalition for 2024 is fracturing. Historically, the party in power at the White House tends to lose House seats in midterm elections, and Democrats are increasingly seeing a path to reclaim the Senate.

MemeCore CEO Jun tweeted that the true value of any project does not depend on short-term attention, headline valuations, or how much profit the foundation can extract, but is built on trust.Jun pointed out that while some may question MemeCore's valuation, the project's responsibility goes beyond creating temporary hype; it is to strengthen the ecosystem around the project, contribute to a healthier market environment, and build something that can exist long-term.He admitted that the blockchain industry has witnessed too many projects driven by speculation, short-term hype, and "pump and dump" behavior. Although MemeCore started as a meme project, a meme project can do much more than attract attention; it can also create culture, build trust, and contribute to a healthier market environment.Previously, on-chain detective ZachXBT questioned the review process for Kraken listing Memecore (M) spot trading and pointed out that there were anomalies in the related on-chain fund flows. Data shows that last week, M's market cap once soared by nearly $6 billion, but it has now fallen back to around $4.7 billion.

According to official social media news, the HTX Genesis Hackathon, hosted by HTX DAO and B.AI, and co-hosted by TinTinLand and OpenCity, has entered a 1-day countdown. The event gathers industry VCs, builders, and leaders of top ecological projects. High-quality projects that stand out in the HTX Genesis Hackathon will receive ongoing computing power support, technical ecological integration, joint promotion, and deep cooperation from TRON, HTX, and B.AI.Huobi HTX global advisor Sun Yuchen and HTX DAO ambassador Molly will deliver keynote speeches at the opening ceremony. Sun Yuchen will share the latest judgments on the future development direction of the industry, focusing on the trend of AI × Web3 integration; Molly will interpret the ecological progress and collaborative path of HTX and HTX DAO.

ChainCatcher live report, the Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission, Ye Zhi Heng, delivered a keynote speech titled "ASPIRe in Action Hong Kong's Digital Asset Journey" at the 2026 Hong Kong Web3 Carnival. He reviewed the six major milestones since the Commission launched the ASPIRe roadmap last year, including allowing licensed platforms to provide staking services, conducting joint consultations on virtual asset trading and custody systems, opening up perpetual contracts and margin financing frameworks, and launching plans to strengthen market defenses through technology.He revealed that the draft regulations for the four systems of virtual asset trading, custody, management, and advisory have reached 260 pages, and the draft was received last week. The work for the next 12 months is divided into three major clusters: first, promoting innovation through regulation, advancing legislative and regulatory guideline consultations; second, promoting innovation through practice, gradually allowing tokenized authorized funds to trade on licensed platforms; third, promoting innovation through interaction, advancing automated reporting, signing international bilateral memorandums, and combating financial crime frameworks. He emphasized that Hong Kong is "moving steadily forward, fast because of stability."

According to Jinshi reports, U.S. short-term interest rate futures rose, as the market expects an increased likelihood of the Federal Reserve cutting interest rates in 2026.

According to a report by Jinshi, StoneX analyst Matt Simpson stated in a research report that based on technical analysis, the US dollar index may see a slight increase in the short term. Currently, the US dollar index is maintaining around the level of 98.249, and on Thursday, the 200-day simple moving average formed a "slightly bullish" pattern, with the two-day relative strength index in an extremely oversold condition. However, there are multiple resistance levels, including the 200-day exponential moving average at 98.44 that the bulls need to test.