Bitcoin Price Surges Past $104K This Week as Investors Seek Alternatives Amid Uncertain U.S. Economy

The price of Bitcoin surged past $104K this week, gaining momentum as investors seek alternatives amid an uncertain U.S. economy.

The price of Bitcoin surged past $104K this week, gaining momentum as investors sought alternatives amid an uncertain U.S. economy. The Ethereum price also rallied, reclaiming $2,600 with rising inflows of smart money into crypto and increased demand for futures, hinting at a potential push toward $3K.

BlackRock met with the SEC to discuss crypto ETF and staking rules. Ripple has settled its long-running case for $50M, and Litecoin approached a major breakout after forming a rare 7-year chart pattern.

From institutional developments to regulatory changes, here’s your crypto recap for May 4–10, 2025.

Institutions Press for Crypto ETF and Staking Approval as SEC Task Force Meets

Asset giant BlackRock met with the SEC’s Crypto Task Force on Thursday to press for clearer regulations around staking, tokenization, and crypto ETF standards. The move comes as 70+ crypto ETFs await review by the SEC, highlighting the growing institutional interest in the space.

The asset management giant, managing over $50B in crypto, is particularly keen on including staking in any Ethereum ETFs to maximize yields for investors. It’s also seeking to tokenize real-world assets, setting the stage for new financial instruments.

Moreover, BlackRock urged the SEC to set clearer rules for approving crypto ETFs, noting the inconsistencies in the commission’s decisions. This feedback is crucial for streamlining the process and providing greater predictability for institutions entering the crypto market.

The meeting with the SEC task force signals the increasing pressure on the regulatory body to provide clear and consistent rules for the crypto industry.

Ethereum Price Reclaims $2,500 as Smart Money Flocks to ETH

The price of Ethereum has risen above the $2,500 level for the first time in several weeks, recovering 80% from its yearly low.

With funding rates remaining positive and the number of smart money wallets accumulating Ethereum reaching 1,800, bullish signals are emerging.

Additionally, the total open interest in ETH futures has climbed to $28 billion, indicating strong demand for the second-largest cryptocurrency.

As momentum strengthens and the ADX indicator shows increasing trend strength, analysts anticipate Ethereum pushing toward the $3,000 resistance. However, they caution that short-term pullbacks might occur as the cryptocurrency faces resistance.

DeFi Giant AChains Announces Integration with BNB Chain

The integration will introduce AChains' advanced DeFi protocols and services to the BNB Chain ecosystem, expanding the possibilities for both platforms' users.

The partnership aims to foster greater interoperability and collaboration within the DeFi space, combining the strengths of both chains to drive innovation and broaden financial inclusion.

The move comes amid a broader trend of major blockchains forging partnerships to expand their reach and capabilities.

New Hampshire Governor Signs Bill Establishing State-Level Bitcoin Reserve

Governor Kelly Ayotte has signed a bill into law, making New Hampshire the first U.S. state to create a strategic Bitcoin reserve.

The legislation, passed by the state legislature earlier this year, permits up to 5% of certain public funds to be invested in Bitcoin, subject to certain conditions, including a minimum market capitalization of $500B.

Lawmakers highlighted the economic uncertainty and the need for new forms of asset protection as key motivators for the bill.

The bill's passage also reflects a broader shift in thinking about cryptocurrency among younger generations of lawmakers, who are more likely to see Bitcoin as a viable long-term store of value.

The bill's provisions are expected to come into effect in 90 days, at which point state officials will begin evaluating investment opportunities in Bitcoin.

The move also contrasts with the UK Treasury rejecting plans to hold Bitcoin as a national reserve, focusing instead on a pilot for tokenized government bonds and stability.

The Treasury’s Economic Secretary, Emma Reynolds, stated that allocating part of the national reserve to Bitcoin "doesn't quite fit our financial priorities."

The statement comes as part of the UK government's broader strategy to become a global hub for digital assets, post-Brexit.

The government is also planning to introduce a new regulatory regime for crypto firms, which will likely be overseen by the Bank of England.

The move is in response to the rapid growth of the crypto industry and the increasing interest from institutional investors.

The window for applying for a crypto payments firm license in the Philippines has closed after the central bank received an "overwhelming response" from applicants.

The Bangko Sentral ng Pilipinas (BSP) opened the application window in February as part of its efforts to regulate the crypto industry and expand financial services in the country.

The BSP said it received applications from various entities, including existing financial institutions, technology companies, and startups.

The applicants will be assessed based on several criteria, including financial soundness, cybersecurity capabilities, and compliance with applicable laws and regulations.

Only those who meet the