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There is insufficient evidence to suggest that Bitcoin has entered a full-fledged bull market, according to an analysis by Mignolet, a CoinNess content creator and crypto analyst. In a post on X, he noted that price trends do not change easily and that there has not been enough accumulation observed within the sideways range that began in February to support a bullish trend reversal. Mignolet explained that the market inevitably goes through a process of psychologically shaking out investors, with repeating emotional cycles where some give up while others regain hope. He pointed out that this dynamic is particularly pronounced compared to the market structure before the launch of spot ETFs. Mignolet added that he still views the current structure as very difficult, suggesting the market will experience a strong shakeout until people completely give up, after which the true result will become clear. Ironically, the moment people regain confidence could be the very moment they are set up for major disappointment, he concluded.

Orderly Network is considering ending support for six blockchains with low trading volume and minimal activity, Crypto Briefing reported. The network initiated a community governance vote on May 4 to decide on the matter, targeting chains that have seen virtually no trading volume over the past 90 days. The vote is scheduled to conclude today, May 11. For support to be maintained, each of the targeted chains must receive at least 10% of the total votes cast.

The possibility of a supercycle emerging across the investment market has increased, according to an analysis by Real Vision CEO Raoul Pal. He identified several key factors supporting this outlook, including the continuously rising interest costs the U.S. must pay, a larger proportion of short-term government bonds, and the potential for banks to expand liquidity to finance capital expenditures. However, Pal noted that inflation remains a variable. He explained that for a supercycle to materialize, a slowdown in service inflation driven by productivity gains must be sufficient to offset rising goods inflation. While this dynamic worked in the 1990s, it remains to be seen if it will repeat, Pal said. He concluded that while the forecast is not yet certain, its probability is steadily increasing.

The Spot CVD chart analyzes the order book for the BTC/USDT spot pair. The top section shows the Volume Heatmap, and the bottom section shows the Cumulative Volume Delta (CVD). - The top section, the Volume Heatmap, tracks the volume of trades at specific price levels. The background color becomes brighter when the price remains in a certain range for an extended period or moves significantly. Brighter areas may act as potential support or resistance levels. - The bottom section, the Cumulative Volume Delta (CVD) indicator, represents buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. The yellow line indicates orders between $100 and $1,000, while the brown line tracks large orders between $1 million and $10 million.

South Korean police intend to strengthen their crackdown on so-called "Tether laundromats" following a series of cases where criminal organizations were caught laundering funds with the dollar-pegged stablecoin Tether (USDT). To support this effort, the agency plans to enhance its virtual asset investigation capabilities. The Korea Economic Daily reported that Park Seong-ju, head of the National Office of Investigation at the Korean National Police Agency, stated at a press conference in Seoul today that authorities will prepare specialized training for virtual asset investigations in collaboration with related agencies like the Financial Intelligence Unit (FIU). He added that while investigations have previously focused on major crimes such as fraud and drug offenses involving virtual assets, they will now invariably include tracing the laundering of criminal proceeds.

Prominent Bitcoin investor Mike Alfred has suggested that BTC and ETH are showing signs of decoupling from the U.S. stock market. He noted that while the market attributes this trend to factors like the CLARITY Act or issues surrounding Binance, he believes there is a simpler explanation. According to Alfred, the decoupling is occurring because BTC and ETH are undervalued, while many U.S. stocks are overvalued.

A wallet linked to Donald Trump's team has transferred 4.915 million TRUMP, worth approximately $12.09 million, to Fireblocks, on-chain analyst @ai_9684xtpa reported on X. This marks the first movement from the address in three months. The wallet currently holds 762 million TRUMP, valued at around $1.88 billion.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $122.86 million liquidated (71.01% shorts) - ETH: $88.75 million liquidated (63.88% shorts) - SOL: $35.18 million liquidated (81.38% shorts)

Minara AI, an AI-based financial agent platform, announced on X the launch of Minara Prediction Copilot, an AI stack designed for prediction markets. The service supports prediction market trading related to Bitcoin (BTC) price ranges and is built on the Outcome and Hyperliquid infrastructure.

According to CoinNess market monitoring, BTC has fallen below $81,000. BTC is trading at $80,984.05 on the Binance USDT market.

South Korean crypto exchange Bithumb announced that it will temporarily suspend deposits and withdrawals for XPLA starting at 3:00 a.m. UTC on May 13 to support a network upgrade.

South Korean tax authorities are preparing to implement taxation on virtual assets as scheduled from January next year, according to The Asia Business Daily. The Ministry of Economy and Finance has reportedly decided not to include a deferral of the tax in its upcoming tax law amendment in July. A government official stated that specific taxation standards will be prepared and released through a National Tax Service notice to ensure the tax is implemented on Jan. 1. To finalize the details, the government has been coordinating with the country's five major virtual asset exchanges: Dunamu, Bithumb, Coinone, Korbit, and Gopax.

Lorenzo Valente, director of crypto research at Ark Invest, summarized his takeaways from the Consensus 2026 event in Miami via X. He assessed the event as a turning point where cryptocurrency has transitioned from a financial movement to an industry, noting that "degens" were out and institutions were mainstream. The atmosphere was not bullish but heavily institutional, dominated by cautious optimism. The following is a summary of his key points: - The passage of the CLARITY Act before summer is seen as a virtual certainty. - Institutions are fully entering tokenization; the debate over blockchain's utility is over, shifting to a competition for dominance. - Investment themes are converging, with a focus on stablecoins, tokenization, internet banking, and permissioned DeFi. - Coinbase, Kraken, Robinhood, and Bullish are emerging as competitors to traditional finance, not just partners. - Traditional finance M&A is accelerating, with Kraken acquiring Reap for $600 million and players like Visa and Mastercard entering the market at a premium. - The biggest deal at the event was Bullish's $4.2 billion acquisition of Equiniti, securing a full-stack RWA structure from issuance to settlement. - The VC landscape is polarizing between large funds (a16z at $2.2 billion, Haun Ventures at $1 billion) and smaller funds that are either pivoting to AI or shutting down. - Barriers to entry in the industry are rising, with competitors now being firms with over $200 million in annual revenue, such as Tether, Anchorage, and Securitize. - The debate over L1 competition is effectively over; institutional focus has shifted to settlement finality, compliance, and liquidity. - Most projects with convoluted conflicts of interest between tokens and equity are expected to fail. - Most Digital Asset Trusts (DATs) suffer from poor operations and governance, but the underlying investment structure with no maturity date remains viable. - AI agent finance is characterized by big claims but lacks substance. - There was no mention of retail investors returning; institutions are expected to drive the next cycle.

The growth in cryptocurrency investment in South Korea has been slowing since the second half of last year, Maeil Business Newspaper reported. According to data submitted by the country's top five virtual asset exchanges to Democratic Party lawmaker Ahn Do-geol, the number of crypto investors stood at 10.22 million as of February, a 7% decrease from six months earlier. The total value of their holdings also fell by 37.5% over the same period to 69.9 trillion won ($51.02 billion). Ahn stressed that discussions on establishing institutional frameworks, such as a basic act on digital assets, should no longer be delayed to ensure investor protection and market stability.

Samsung Electronics is ranked 14th globally by market capitalization at $1.12 trillion, closely trailing Bitcoin, which holds the 11th position, according to data from CompaniesMarketCap. SK Hynix is ranked 18th on the same list.

Morgan Stanley's spot Bitcoin ETF (MSBT) has not experienced a single day of net outflows in the month since its launch on April 8, The Block reported, citing data from SoSoValue. During the same period, all other competing ETFs recorded net outflows. Speaking at the Consensus 2026 conference in Miami, Amy Oldenburg, Morgan Stanley's Head of Digital Assets, stated that most of the initial purchases in the first one to two weeks were initiated by clients themselves, rather than by the firm's advisors. The Block noted that Morgan Stanley has approximately 16,000 advisors managing over $9.3 trillion in client assets. The outlet projected that inflows could increase significantly if these advisors are permitted to directly recommend and sell MSBT to clients, as competitors lack a comparable in-house distribution network.

Crypto asset manager Grayscale is pursuing the launch of a spot Cardano (ADA) ETF, Crowdfund Insider reported. The proposed fund would be a conversion of the firm's existing Cardano Trust, with 'GADA' as its likely ticker. This approach could streamline the approval process compared to launching an entirely new product. Market observers speculate that the ETF could launch as early as October of this year if regulatory procedures proceed smoothly.

Syndicate (SYND), which suffered a bridge hack last month, announced via X that it has completed compensation for all affected SYND holders on its Common Bridge. The project distributed a total of 12,901,167 SYND, an amount that covers the full extent of the losses plus an additional 15%. According to the announcement, the tokens were sent directly to the victims' wallets, eliminating the need for a separate claims process. Syndicate Labs also covered all associated gas fees.

South Korea's Financial Security Institute (FSI) is set to develop a verification tool for smart contracts and establish a corresponding validation system, ZDNet Korea reported. The initiative is a response to the country's push to create a legal framework for security tokens (STO) and advance Phase 2 of its virtual asset legislation. On May 11, the FSI, a non-profit corporation led by President Park Sang-won, announced it has selected three major initiatives for smart contracts, which are central to digital asset services like security tokens and stablecoins: - Developing a smart contract verification tool - Cultivating specialized talent in digital assets - Establishing a smart contract verification system

Bitcoin could reach a price target of $88,000, driven by spot demand, according to Markus Thielen, CEO of 10x Research. In a post on X, Thielen stated that the current Bitcoin rally is being driven by spot demand rather than the leverage market, which he described as a structurally healthy trend. He noted that ETF inflows are stable, mining stocks are showing strength, and trends in the options market are also positive. Thielen explained that considering the improvement in trading volume and the moderate increase in fund inflows, the $88,000 price target appears achievable.

Decentralized exchange (DEX) Aster (ASTER) has announced the listing of perpetual futures for four popular Hong Kong-listed stocks: Tencent (00700.HK), Xiaomi (01810.HK), Minimax (00100.HK), and Pop Mart (09992.HK). The exchange supports up to 3x leverage on these products. In its announcement, Aster stated that it is the first perpetual futures DEX to list Hong Kong stocks. The exchange noted that while traders previously needed a Hong Kong securities account for these assets, they can now be accessed with just a crypto wallet. Aster added that its goal is to become a gateway for trading popular assets worldwide and that this listing provides an on-chain channel for global markets to access high-quality Asian stocks.

A buy-side sidecar was triggered as the KOSPI index surged.

According to data from Tokenomist, the major token unlocks scheduled for this week (May 11–17) are as follows: - AVAX: 1.67 million tokens ($17.25 million), representing 0.31% of circulating supply, at 12:00 a.m. UTC on May 12 - APT: 11.31 million tokens ($13.23 million), representing 0.67% of circulating supply, at 6:00 p.m. UTC on May 12 - CONX: 1.32 million tokens ($17.95 million), representing 1.49% of circulating supply, at 12:00 a.m. UTC on May 15 - STRK: 127 million tokens ($6.62 million), representing 4.05% of circulating supply, at 12:00 a.m. UTC on May 15 - ARB: 92.65 million tokens ($13.37 million), representing 1.71% of circulating supply, at 1:00 p.m. UTC on May 16

CoinMarketCap's "Altcoin Season Index" currently stands at 51. The index is calculated by comparing the price performance of the top 100 cryptocurrencies by market capitalization, excluding stablecoins and wrapped coins, against that of Bitcoin over the preceding 90 days. An "altcoin season" is declared when 75% of these top coins outperform Bitcoin, while the opposite scenario is considered a "Bitcoin season." A score closer to 100 indicates a stronger altcoin season.

Asian Web3 research and consulting firm Tiger Research said in a new report that as the era of AI agents begins in earnest, the importance of a Know Your Agent (KYA) framework for verifying their identities is growing. The report, titled '2026 Know Your Agent: Agent Identity Infrastructure,' notes that while AI agents are increasingly executing contracts, payments, and transactions without human intervention, a common standard for verifying their identities and authority is still lacking. In an era of agent-to-agent (A2A) transactions, KYA systems are likely to become a core infrastructure, potentially surpassing the role of existing KYC frameworks, the firm explained. Major companies have already entered the race to establish a KYA standard. Visa is developing a structure to verify agent identity, delegators, and payment methods through its TAP protocol. Trulioo is building a framework based on the SSL certificate authority model, while Sumsub is implementing a KYA system on top of its existing compliance infrastructure.