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Bitcoin has surpassed the $80,000 mark for the first time in three months, but concerns are growing that the rally could reverse due to weak on-chain activity, CryptoPotato reported. On-chain analytics firm Santiment noted that despite the price surge, network usage is at a remarkably low level. The firm highlighted that daily active addresses stand at 531,000 and new addresses at 203,000, both two-year lows. This is in stark contrast to past price rallies, which were supported by a surge in new users, suggesting the current price action is driven by a small number of participants rather than widespread adoption. In contrast, crypto analyst Ali Martinez offered a more bullish outlook. He noted that a weekly MACD golden cross on April 13 was followed by a roughly 15% price increase, with a high probability of further gains. Martinez projected that if BTC breaks through its 200-day moving average near $83,000, it could rally even higher.

The crypto market structure bill (CLARITY) being discussed in the U.S. Congress could be delayed due to a lack of consensus and a conflict over a housing bill, CryptoSlate reported. Senate Banking Committee Chairman Tim Scott is reportedly working to secure the support of all 13 Republican members, but some, including Senator John Kennedy, are withholding their backing due to delays in their own housing legislation, the Build Now act. Additionally, there is insufficient agreement on provisions within the bill, such as those concerning stablecoin interest and developer protections. Law enforcement agencies have raised concerns that granting broad immunity to crypto developers could create regulatory blind spots. Galaxy Digital (GLXY) predicts that if the Banking Committee's markup vote on the bill is pushed past May, its chances of passing will decrease significantly as the U.S. midterm election schedule approaches.

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

Cryptocurrency exchange Bullish (BLSH) has agreed to acquire securities services provider Equiniti for $4.2 billion, a deal that includes $1.85 billion in debt, according to The Wall Street Journal. Through the acquisition, Bullish plans to offer services such as 24-hour stock token trading and stablecoin-based payment solutions to gain a foothold in the stock token market.

Digital asset investment products saw a net inflow of $117.8 million last week, marking the fifth consecutive week of inflows, CoinShares reported in its weekly fund flow report. Total assets under management (AUM) rose to $155 billion, though this remains below the $263 billion recorded in October of last year. Bitcoin products attracted $192.1 million in net inflows, while Ethereum products experienced an outflow of $81.6 million. CoinShares noted that risk-on sentiment is improving rapidly.

The proposed merger between Naver Financial and Dunamu has hit a snag over major shareholder eligibility requirements, the Korea Economic Daily reported. An amendment to South Korea's financial transaction law, set to take effect on Aug. 20, will disqualify major shareholders and executives of virtual asset service providers if they have a history of fines or more severe penalties under regulations such as the Fair Trade Act. Naver Financial and Dunamu, which filed for merger approval with the Fair Trade Commission (FTC) late last November, have postponed an extraordinary shareholders' meeting for their stock swap from May 22 to Aug. 18, just before the new law is implemented. The delay comes as the FTC's review continues. In addition to the FTC's approval, the deal is subject to a separate eligibility review by financial authorities. Naver's 200 million won fine for a Fair Trade Act violation last September is expected to be a potential obstacle in this process.

According to data from Coinglass, if Bitcoin breaks above $81,770, short positions worth $777.98 million face liquidation on major centralized exchanges. Conversely, a drop below $79,166 could trigger the liquidation of long positions valued at $1.31 billion.

Upbit announced that it will temporarily suspend deposits and withdrawals for Babylon (BABY) starting at 11:00 a.m. UTC today due to a network upgrade.

South Korea's virtual asset industry is pushing back against a revised enforcement decree of the Act on Reporting and Using Specified Financial Transaction Information, set to take effect in August, Maeil Business Newspaper reported. Industry leaders are concerned that excessive regulations, particularly a mandate for Suspicious Transaction Reporting (STR) on all transactions of 10 million won or more without exception, could paralyze the domestic market. According to a simulation by the Digital Asset eXchange Alliance (DAXA), the new rule is projected to cause the annual number of STRs from the five major won-denominated exchanges to surge by approximately 85 times, from 63,408 to 5,445,133. A DAXA official warned that this would effectively paralyze the country's normal Anti-Money Laundering (AML) monitoring systems.

Binance announced it will delist the AVA/BTC, BCH/BNB, CFX/BTC, ENA/BTC, HBAR/FDUSD, LA/BNB, MAGIC/BTC, OP/BTC, PUNDIX/USDC, STEEM/ETH, WIN/TRX, and XPL/FDUSD spot trading pairs at 3:00 a.m. UTC on May 8.

Bybit has announced the delisting of DGB, HOOK, SLP, RDNT, GAME, PORTALS, and USDD, effective at 8:00 a.m. UTC on May 12.

Binance's Secure Asset Fund for Users (SAFU) has successfully bought the dip in BTC and is now holding an unrealized profit of approximately $200 million, BlockBeats reported. The fund previously acquired 15,000 BTC, valued at $1 billion, in February.

South Korea's cryptocurrency industry has asked financial authorities to reconsider a plan to expand the Travel Rule to cover transfers under 1 million won, The Herald Business reported. The rule currently requires sender information only for transfers of 1 million won or more. Industry representatives argue that extending this requirement to smaller amounts could lead to deposit screening delays due to the need for user information verification. They claim these delays could cause financial losses from price volatility and potentially infringe on property rights. South Korea's Financial Services Commission announced the proposed amendment to a financial transaction reporting law in March and is collecting industry opinions until May 11.

An analysis suggests that Bitcoin has successfully shed its label as a risk asset sensitive to interest rates and transitioned into an inflation hedge. According to CoinDesk, while high inflation previously led to interest rate hikes that suppressed Bitcoin's price, rising inflation now drives capital into Bitcoin amid concerns over the declining value of fiat currencies. The outlet argues that Bitcoin has moved out of the Nasdaq's shadow and is beginning to follow the early growth model of gold.

Grayscale has stated that while high-performance quantum computers could pose a long-term threat to traditional cryptography, they are not the primary cause of the recent decline in Bitcoin's price. The firm added that it supports all major blockchains in accelerating their quantum resistance upgrades. As evidence, Grayscale noted that Bitcoin recently fell in tandem with quantum computing-related stocks. The firm's analysis suggests the fundamental cause is investors taking profits and avoiding risk across the advanced technology sector, which had become overheated following the AI boom.

The odds of the CLARITY Act passing this year have climbed to 70% on the prediction market Polymarket.

Aftermath Finance, a Sui-based decentralized exchange that temporarily suspended operations due to the Boyan vulnerability, has launched a compensation claim page for affected users, Foresight News reported.

SmarterWebCompany, a firm listed on the London Stock Exchange, announced the purchase of an additional 27 BTC, bringing its total holdings to 2,805 BTC.

Italy's central bank has officially proposed that the European Union evolve its existing euro payment infrastructure, the Single Euro Payments Area (SEPA), into a tokenized version, according to Solid Intel.

Major U.S. financial interest groups, including the American Bankers Association (ABA), have once again voiced opposition to the CLARITY Act, arguing that interest-like returns offered by stablecoins could trigger a massive outflow of bank deposits, Cointelegraph reported. The banking sector claims a legal loophole remains that would allow stablecoin platforms to indirectly provide returns to users. They warn that if left unaddressed, this could cause one-fifth of lending to the real economy to disappear. However, Senator Tom Tillis, a key proponent of the bill, has directly refuted these claims, describing the legislation as a reasonable compromise for innovation.

Tydro, a lending protocol in the Ink ecosystem, announced that it has temporarily suspended all market operations due to a third-party oracle issue.

Ethereal Ventures, a crypto venture capital firm backed by Ethereum co-founder Joseph Lubin, has officially announced that its fund manages $150 million, breaking its silence after about five years since its founding. The firm was an early investor in over 80 projects, including EigenLayer, and its second fund has yet to deploy 25% of its assets.

Polygon has launched a private stablecoin payment feature that uses zero-knowledge proof technology to conceal the sender, receiver, and transaction amount from external parties, Cointelegraph reported. The solution addresses a key hesitation for businesses considering on-chain operations: the inherent transparency of blockchain, which broadcasts fund flows to competitors and the market in real time. Polygon's new feature provides selective transparency, allowing companies to hide transaction details from the public while still being able to submit audit files to regulatory authorities.

Ripple is building a joint industry defense network to counter North Korea's evolving attack methods, which have shifted from code hacking to disguised employment, BeInCrypto reported. The company has begun exclusively providing the non-profit security organization Crypto ISAC with a blacklist of suspected North Korean cyber agents. The shared data includes detailed personal information like LinkedIn profiles, email addresses, and phone numbers, enabling the industry to block hackers in real time who are rejected by one firm and then attempt to apply to another.

South Korean crypto exchange Upbit announced that it will temporarily suspend deposits and withdrawals for Zilliqa (ZIL) due to a hard fork.