Bitcoin (BTC) gives back the weekend gains, trading around $81,630 as of May 11. Strategy co-founder Michael Saylor hinted that he will buy Bitcoin again; previously, during the Q1 earnings call, he had hinted that he might sell. A long-dormant Bitcoin OG address inactive for 12 years transferred 500 BTC, realizing profit of $40.17 million.
Macro Events & Crypto Hotspots
1、Strategy co-founder Michael Saylor said the Bitcoin reserve company will resume buying Bitcoin this week. Previously, in a Tuesday earnings call, he said the company might periodically sell part of its reserves. “Back to work—Bitcoin,” Saylor posted on X on Sunday. The news had previously signaled that he would buy Bitcoin, and Bitcoin typically gets purchased the day after he posts. The company’s most recent Bitcoin purchase was on April 27, when they bought 3,273 BTC for roughly $255 million, bringing its total Bitcoin holdings to 8,18,334 BTC.
2、According to Lookonchain monitoring, a Bitcoin OG address dormant for over 12 years (starting with 1KAA8G) transferred 500 BTC ($40.62 million) about 4 hours ago. When the address received those 500 BTC 12 years ago, the BTC price was about $914; it is now up $40.17 million, for an 88x return.
News Highlights
1、Grayscale plans to launch a Cardano ETF by the end of 2026
2、Strategy CEO: Software business Q1 revenue growth of 12%, best in nearly ten years, forming synergies with the Bitcoin treasury
3、Trump rejects Iran peace plan, calling it “totally unacceptable”
4、Microsoft security team: Fake macOS troubleshooting post installs a crypto wallet stealing program
5、Google Cloud and PayPal senior executives: AI agents will run on the crypto payments rail, traditional bank accounts can’t be connected
6、A Bitcoin OG address dormant for 12 years transfers 500 BTC, profit of $40.17 million
7、Morgan Stanley Bitcoin ETF sees cumulative net inflows of $194 million in its first month listed, with no net outflow any day
8、Digital Asset is raising $300 million at a $2 billion valuation, led by a16z crypto
9、Mysten Labs co-founder: This year will launch confidential transactions on Sui, enabling large-scale free privacy payments
10、Giant whale Garrett Jin deposits nearly 578,000 ETH into Binance within four days, with losses of about $1.3 billion
11、After ETH/BTC’s drop of over 35%, weakness structure continues; analysts warn it may drop another 40%
Market Performance
1、Latest Bitcoin news: $BTC gives back the weekend gains, temporarily around $81,630; in the past 24 hours, $113 million was liquidated, with long liquidations dominating;
2、S&P 500 index and Nasdaq Composite index rose 0.8% and 1.7% respectively on May 8. Micron surged 15%, recording its biggest single-day gain in over a year; after The Wall Street Journal reported and Apple reached a preliminary agreement on chip outsourcing cooperation, Intel’s stock jumped 14%, setting a new all-time high. The S&P 500 rose 2.3% last week, while the Nasdaq surged 4.5%; both marked six consecutive weeks of gains. The Russell 3000 (VIX) futures weekly line rose 11.1%, Taiwan Semiconductor ADR dipped 0.6%, with the weekly still up 3.5%.
（Source: Gate）
3、In the Gate BTC/USDT liquidation map, using 81,397.60 USDT as the reference point: if it drops to around $79,931, the cumulative long liquidation amount exceeds $339 million; if it rises to around $81,559, the cumulative short liquidation amount exceeds $111 million. The liquidation amount for longs is significantly higher than for shorts; it’s advisable to manage leverage reasonably to avoid triggering large-scale liquidations during market moves.
（Source: Coinglass）
4、Within the past 24 hours, BTC spot inflows were $1.5 billion, outflows were $1.41 billion, for net inflows of $90 million.
（Source: Coinglass）
5、Within the past 24 hours, contract trading net outflows led for $BTC、$ETH、$SOL、$SUI、$XRP and others, presenting trading opportunities.
Selected Views from X KOLs
Phyrex Ni（@Phyrex_Ni）：「The lazy mode ends on Monday—that’s the last day. Tomorrow is the last rest day, then you’ll need to work hard to make money. Recently, there aren’t many opportunities for deterministic profits left, of course it also has something to do with my level. For me right now, the most certain is shorting WTI. I’m still shorting now; even though I’ve reduced position size a bit, once I see the funding rate is already not that high, I’m planning to add a bit when it moves up. If it keeps falling all the way down, I’ll accept that too.」
「My current entry price is around $97. I’m planning to add some if it can return to $95. My first target price is still $85. Also, I plan to move part of my position to a broker to save some costs. Another thing is to look for some projects with high funding rates, and see if there are opportunities to lock in funding rates. If it’s feasible, take some money out to do an experiment, and then sync it with the friends.」
「The trend in the current market is still about betting on the war between Iran and the United States. The dispute surrounding the Strait of Hormuz is still ongoing. This time, French and British warships have also sailed into the Strait of Hormuz. Iran’s foreign minister said this approach is likely to further escalate tensions in the Strait of Hormuz. But honestly, Iran’s scheme of holding the emperor to command the princes really does create trouble for the global economy; this farce should end.」
「Going back to Bitcoin data, there’s nothing really fresh over the weekend—trading volume and liquidity are both painfully low. And I’ve said this repeatedly: currently $BTC ’s rise and fall has no fundamental relationship with the crypto market. Instead, U.S. macro, politics, and economics will interfere with Bitcoin. And what often determines the BTC price is short-term investors— the less turnover short-term investors have, the more resilient BTC’s price is.」
Today’s Preview
1、China April-end M2 money supply (YoY), prior value 8.5%
2、China April producer price index (YoY), prior value 0.5%
3、China April CPI (YoY), prior value 1.0%
4、U.S. April NAR existing home sales (annualized monthly rate), prior value -3.6%
5、U.S. Treasury Secretary Bessent visits Japan, meets Japan’s prime minister, the central bank governor, and the finance minister
