Daily Market Dispatch – May 8, 2025 Overview Markets pushed higher Thursday as investors welcomed signs of softening trade tensions and digested the Federal Reserve’s latest policy stance. U.S. stock futures rose across the board, buoyed by reports of a pending U.S.-U.K. trade deal and stable guidance from Fed Chair Jerome Powell, who kept rates at 4.25%–4.50% but warned of tariff-driven risks to inflation and employment. Bitcoin joined the broader rally, climbing past $99,500 to a three-month high. The total crypto market cap is nearing $3.1 trillion — its highest since early March — amid improving macro clarity. For now, maximum employment and stable prices remain the Fed’s first priority, providing some reassurance to markets. But with QT continuing, wait-and-see mode remains the status quo. Bitcoin Bitcoin surged to $99,600 early Thursday, up 2.6%, approaching the $100,000 psychological threshold. The move came on optimism over trade de-escalation after Trump’s announcement of a forthcoming U.K. deal, alongside relief from the Fed’s decision to hold rates steady. However, QT remaining intact signals tighter liquidity ahead — a factor that may moderate upside momentum. Futures open interest has climbed toward $35 billion, while 24-hour trading volumes have stabilized above $50 billion — both signs of growing market conviction. Spot Bitcoin ETFs have now attracted over $5 billion in inflows since late April. A breakout above $100,000 could target $107,000, while a failure to hold $95,000 opens risk of a retracement to $91,000. Overall, Bitcoin remains well-positioned — but increasingly sensitive to macro headlines and institutional flows. Ethereum & Altcoins Ethereum (ETH) traded at $1,926, up 2.2%, following the successful launch of its long-awaited Pectra upgrade — a step that reinforces the network’s utility despite rising competition from faster chains. Altcoins followed suit: Solana (SOL) gained 1.5%, Cardano (ADA) added 2.8%, and Dogecoin (DOGE) rose to $0.18. XRP hovered near $2.19, showing short-term resilience despite cooling network activity. Despite the rally, sentiment remains cautious. Leverage has been flushed, and any sustained upside will likely depend on supportive macro data and continued ETF momentum. Macro & Institutional The Fed’s decision to hold rates steady came with a twist — no slowdown in QT. Redemption caps on Treasuries and mortgage-backed securities remain unchanged, keeping policy tight. Powell delivered a balanced message, citing solid growth and labor markets, but flagged heightened uncertainty and inflation persistence. Markets viewed the message as steady, not dovish. Meanwhile, Trump is set to announce a trade agreement with the U.K. — the first of his current term — expected to ease tariffs on U.K. autos and metals in exchange for cuts to British duties on U.S. tech and agriculture. Broader optimism around resumed U.S.-China talks is also providing a tailwind, though tangible progress remains uncertain. Institutional momentum continues to build. Arizona passed a Bitcoin reserve law, following New Hampshire. In corporate developments, Japan’s Metaplanet and firms like Strategy added BTC to their treasuries. Treasury Secretary Scott Bessent reaffirmed the U.S. aim to lead global crypto adoption, while Congress advances regulatory frameworks. A Senate vote on stablecoin legislation is expected next week. Looking Ahead Thursday’s Bank of England rate decision could bring a 25-basis-point cut — a shift that would diverge from the Fed’s cautious stance. U.S. jobless claims will also be in focus, offering insight into labor market resilience. With Bitcoin testing $100,000 and altcoins eyeing breakouts, the next macro signals — including weekend trade updates — may either confirm recent momentum or inject new volatility. Markets remain cautiously optimistic, but QT staying on may keep risk appetite in check. — Iliya Kalchev, Nexo Dispatch analyst For informational purposes only; not financial or investment advice.

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This week’s SnapShot Podcast: Bitcoin touched over $95,000 this week while short-term holders piled in, driving speculative activity to its highest in years. Plus: 🔹 Crypto.com partners with Green Dot to offer banking in the US 🔹 TOKEN2049 welcomes 15,000-strong crowd in Dubai 🎧 Listen on Spotify here:

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🚀 @21Shares launched a $CRO ETP in Europe 📈 Polygon took the lead in terms of the number of $USDC active addresses by chain 💸 Ethena will integrate its USDe and sUSDe within The Open Network Full details 👇

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🎉 @ethereum's Pectra upgrade is complete ✅ Deposits and withdrawals of tokens on the networks mentioned in the thread have resumed in the Crypto.com App and on the Crypto.com Exchange Link:

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🚨 Crypto.com is supporting @ethereum's Pectra upgrade 🚨 ℹ️ Deposits and withdrawals of tokens on the affected networks in the Crypto.com App and on the Crypto.com Exchange will be temporarily suspended on May 7, 10:05 UTC ✅ Trading of these tokens will not be affected Please find the list of affected networks below 👇 - ERC-20 (ETH) - Cronos zkEVM (CRO) - Arbitrum One and Arbitrum Nova (ARB) - Base (BASE) - zkSync Era (ZK) - Blast (BLAST) - Optimism (OP) - Lisk (LSK) - Scroll (SCR) - Starknet (STRK)

Prague/Electra, or Pectra? 🤔 Regardless of your naming preference for the upcoming upgrade, it’s undeniably a key milestone for the Ethereum network. Here’s why 🧵👇 What is the Pectra upgrade? It's Ethereum’s next major hard fork, combining changes from both the execution (Prague) and consensus (Electra) layers. Expect a number of key improvements to Ethereum's ecosystem. Full details:

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Crypto Market Pulse Weekly: 🌏 Global corporates added around 80K $BTC in April 🏎️ Crypto.com will integrate Crypto.com Pay at the @F1 Crypto.com Miami Grand Prix 🏦 Crypto.com partnered with Green Dot to offer new banking features The details 👇

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