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➡️ #BitcoinStrategicReserveAct#
— On May 7, New Hampshire became the first U.S. state to include Bitcoin in its strategic reserves. The new HB 302 bill allows up to 5% of public funds to be invested in digital assets and precious metals with a market cap over $500B.
Will this boost Bitcoin’s price? Could it set a trend for other states or countries? Share your thoughts!
➡️ #FOMCMeeting#
— The Fed will announce its May rate decision on May 8. Despite pressure to cut, markets expect no change. How do you think this will impact the market?
✍️ Post with #Bitcoin
$675M Bitcoin ETF Surge Inflows, US Govt. Still a No-Go: Hayes | Coinspeaker
Key Notes
Bitcoin continues to show powerful institutional momentum as spot ETFs recorded a massive $675 million in net inflows on May 2, 2025. This surge, coupled with zero net outflows across all twelve Bitcoin ETFs, marks one of the strongest single-day performances since their launch.
Ethereum ETFs also joined the rally with modest net inflows totaling $20.1 million across all nine funds, SoSoValue data confirms. Michael Saylor, Chairman of MicroStrategy (MSTR) and one of Bitcoin’s most vocal institutional advocates, sees this as just the beginning. Speaking at the Bitcoin Standard Corporation’s Investor Day, Saylor made a bold claim: “IBIT will be the biggest ETF in the world in ten years.”
Analyst Weighs In
While that may sound ambitious, Bloomberg’s Senior ETF Analyst Eric Balchunas didn’t dismiss the possibility outright.
“It’s possible, especially if IBIT starts taking in more cash than VOO,” Balchunas noted while adding:
“But that would require inflows well north of $1 billion a day—more likely in the range of $3 to $4 billion daily. Extraordinary things would have to happen, but it’s possible.”
US Won’t Purchase BTC: Hayes
Despite the growing institutional appetite for Bitcoin, the US government remains reluctant to embrace the asset beyond the holdings it has acquired via law enforcement seizures.
“I’m not really into the whole Strategic Reserve situation,” Hayes said, adding that the US “is a deficit country” and the only way that a BTC Strategic Reserve can be implemented in the country is when the government doesn’t sell the Bitcoin “they took from people.”
He added that with 200,000 BTC already seized—now valued at over $18 billion—it’s politically implausible for any elected official to announce plans to purchase more Bitcoin with printed dollars.
“Especially when the popular narrative is a bunch of Bitcoin bros going to the club,” he said. “Is that really what you want people to think about your policy?”
Chart Analysis: Bullish and Bearish Scenarios
As of May 3, Bitcoin trades at $96,251.58, down 0.34% in the last 24 hours, as per the data provided by CoinMarketCap. Meanwhile, the RSI (Relative Strength Index) is at 67.87, approaching overbought territory but still leaving room for upside.
On the other hand, the MACD (Moving Average Convergence Divergence) is bullish, with the MACD line (3,153.82) well above the signal line (2,688.95), but the reduction in distance between the lines suggests increasing selling pressure.
Price has broken above the 0.786 Fibonacci retracement level ($79,238.75) and is approaching the swing high of $96,028.45. A daily close above this resistance could trigger a breakout to new all-time highs.
The Fibonacci 0.236 level at $90,987.26 could act as a key support if the price retraces. A breakdown below this could expose deeper levels at $87,868.57 and $85,347.98.
nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.