Bitcoin Soars Past $91,000 For The First Time in Seven Weeks

Bitcoin surged past $91,000 on Tuesday for the first time in seven weeks, following the IMF’s April report forecasting higher U.S. inflation and slower global growth. The World Economic Outlook revised U.S. GDP down to 1.8% and bumped inflation to 3%, sparking a shift into perceived safe-haven assets like BTC and gold.

Digital assets outpaced traditional markets as ETFs logged $381 million in inflows and the dollar index fell to a three-year low. “Bitcoin’s resilience in the overnight session adds weight to the decoupling narrative,” wrote QCP Capital analysts, citing growing divergence between crypto and equities.

Crypto-related stocks followed BTC higher, with Coinbase and Michael Saylor's Strategy gaining 8-9% and mining firms like Bitdeer and Riot up over 10%. Bitdeer led the rally, aided by its in-house ASIC production and a $32 million equity investment from Tether.

Still, mining growth faces pressure from U.S. tariffs on imported ASICs, raising costs for domestic operations. “Other jurisdictions... will likely be a benefactor,” said Synteq Digital CEO Taras Kulyk, pointing to Canada as a new target for mining infrastructure.

Trump Media Finalize “Made in America” ETF Partnership

Trump Media has finalized a binding agreement with Crypto.com and Yorkville America Digital to launch a series of exchange-traded funds through its TruthFi platform. The ETFs will include a mix of crypto assets, equities, and bitcoin, with a focus on "Made in America" themes. The centralized exchange will provide backend support, custody services, and liquidity for the ETFs.

The products are expected to launch later in 2025 pending regulatory approval and will be distributed through Crypto.com’s broker-dealer Foris Capital US. TruthFi has also partnered with Charles Schwab to manage separately managed accounts (SMAs) alongside the ETF lineup. Trump Media’s board has already approved a $250 million capital allocation to support these offerings across platforms in the USA, Europe, and Asia.

ECB Warns US Crypto Policy Could Harm Europe

The European Central Bank has raised concerns that U.S. crypto reforms could trigger financial contagion in the EU by boosting demand for dollar-backed stablecoins. In a leaked policy paper, the ECB called for an overhaul of MiCA regulations just months after they were implemented. Officials fear increased capital flows toward U.S. crypto assets could expose European banks to liquidity shocks.

The European Commission rejected the ECB's warning, arguing current rules are sufficient to manage stablecoin risks. Critics say MiCA’s strict reserve requirements have already made Euro stablecoins uncompetitive globally. USDT, the world’s largest stablecoin, has been delisted by several major EU exchanges due to ongoing compliance issues under MiCA rules.

Fantasy Top Launches Clout System on X

Fantasy.top has launched a new onchain rewards system called Clout, designed to let top crypto voices on X monetize their social influence. Users are scored based on relevance and virality, and high scorers can earn a share of monthly ETH rewards through the platform’s trading card game. Clout rankings will also boost a user’s visibility and engagement on X.

Fantasy’s co-founder said the tool aims to "financialize attention" by turning crypto commentary into a gamified, incentivized experience. The protocol previously raised $4.25 million in a Dragonfly-led seed round and launched a custom social feed for creator content last December. Clout will initially support over 50,000 X accounts, with plans to expand monthly prize pools as adoption grows.

Data of the Day

NFTs on the Polygon blockchain have outpaced Ethereum collectibles in weekly volume, thanks to a surge induced by a real-world asset (RWA) marketplace called Courtyard. According to CryptoSlam, Polygon racked up $22.3 million in NFT sales over seven days, compared to Ethereum’s $19.2 million. Courtyard alone accounted for $20.7 million of that volume through tokenized Pokémon and sports cards.

The Courtyard platform stores collectible cards in a secure vault and allows buyers to redeem the physical item by burning the NFT. This blend of physical and digital assets is part of a broader trend in tokenized RWAs, which have reached $21.2 billion in total value. Polygon also saw an 81% spike in NFT buyers this week, topping 39,000 unique wallets.

More Breaking News

• Galaxy Digital swapped over $100M in ETH for SOL as Ethereum dominance hit record lows and institutional sentiment continued to weaken.
• Fartcoin surged 21%, overtaking Bonk and closing in on TRUMP to become a top-five meme coin by market cap.
• Metaplanet’s CEO defended the firm’s bitcoin treasury strategy, urging patience from investors amid a sharp monthly drop in its share price.
• Ripple’s RLUSD stablecoin launched on Aave V3, with new supply and borrow caps as it competes with USDT and USDC in decentralized finance.
• WazirX is preparing to resume operations and repay creditors, pending a Singapore court decision on its $234M restructuring plan next month.
• Janover bought $11.5M more in SOL and rebranded to DeFi Development Corp, deepening its pivot toward a Solana-based treasury strategy.
• Mantra’s CEO has begun burning 150M OM tokens, cutting supply and boosting staking APR, with partners expected to burn another 150M.
• Matter Labs, developer of ZKsync, faces a lawsuit over claims it used tech stolen from defunct firm BANKEX to build its blockchain network.

For the latest updates on digital asset markets, follow us on X @Datawalletcom.