updates

According to CoinMarketCap data, the global cryptocurrency market cap now stands at $2.51T, down by 1.06% over the last 24 hours.Bitcoin (BTC) traded between $73,514 and $76,038 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $74,159 down by 1.19%.Most major cryptocurrencies by market cap are trading mixed. Market outperformers include ENJ, BIO, and D, up by 34%, 31%, and 19%, respectively.U.S.–Iran Peace Deal Progress Lifts Markets as CZ Backs Blockchain’s Long-Term Future, Ethereum Strengthens and Powell Drama DeepensThe U.S. and Iran are moving closer to a framework peace deal, with markets increasingly pricing in a late-May agreement as the most likely outcome. At the same time, CZ is reinforcing the long-term crypto growth narrative, arguing that blockchain has reached less than 1% of its potential and still has a much larger role to play across global finance and AI-driven payments.Meanwhile, Ethereum is showing renewed strength, with the ETH/BTC ratio hitting a three-month high as network activity and stablecoin growth accelerate. Pakistan’s move to restore banking access for licensed crypto firms adds to the global push toward regulated adoption, even as Trump’s escalating pressure on Powell keeps macro uncertainty in focus.U.S. and Iran Move Toward Framework Peace Deal; Polymarket Prices 60% Chance of Agreement by End of MayKey Takeaways:U.S. and Iran made progress toward a framework peace agreementPolymarket prices a 60% chance of a deal by the end of MayA ceasefire extension may be needed to finalize a permanent agreementSummary:U.S. and Iranian negotiators are moving closer to a framework agreement aimed at ending the conflict, with talks showing meaningful progress. Markets remain cautiously optimistic, though the complexity of the final deal means a ceasefire extension will likely be required. Polymarket odds suggest investors increasingly see late May as the most realistic timeline for a permanent agreement. Continued progress could further support risk assets, while any breakdown in talks remains a key downside risk.Bitcoin Bull Score Index Indicates Potential RecoveryKey Takeaways:Bitcoin Bull Score Index is improving graduallySelling pressure has eased since early 2026Recovery remains fragile but momentum may be returningSummary:CryptoQuant’s Bitcoin Bull Score Index is showing signs of improvement after reaching deeply bearish levels earlier this year. While the index remains low and still reflects a cautious market environment, selling pressure has eased and demand has started to recover. Analysts say continued improvement could support a broader return in upward momentum. However, the market still lacks confirmation of a full bullish trend. Ether-Bitcoin Ratio Hits Three-Month High as Ethereum Network Activity SurgesKey Takeaways:ETH/BTC rose to 0.0313, its highest level since JanuaryEthereum added 284,000 new users in Q1Stablecoin supply on Ethereum reached a record $180 billionSummary:Ethereum is showing renewed momentum, with the ETH/BTC ratio climbing to its highest level in three months. The move is being supported by stronger fundamentals, including user growth, record transaction activity, and rising stablecoin supply. These signals suggest Ethereum is regaining relative strength after months of lagging Bitcoin. Analysts now see 0.035 on ETH/BTC as the key level to confirm a broader altcoin rotation. Pakistan Ends Eight-Year Bank Ban on Crypto Firms, Allows Accounts for Licensed VASPsKey Takeaways:Pakistan now allows banks to serve licensed crypto firmsThe move follows passage of the Virtual Assets Act 2026Banks may provide services but cannot hold or trade crypto directlySummary:Pakistan has formally ended its long-standing ban on banks serving crypto companies, allowing regulated institutions to open accounts for licensed virtual asset service providers. The shift marks a major reversal in policy and signals a more comprehensive crypto framework taking shape. Strict safeguards remain in place, with banks limited to providing transactional services rather than direct crypto exposure. The move positions Pakistan as a more serious regulated market for digital assets.Trump Threatens to Fire Powell If He Doesn't Leave on Time; Polymarket Prices Warsh Confirmation at 43% Before May 15Key Takeaways:Trump said he will fire Powell if he does not leave on timePolymarket gives Warsh a 43% chance of confirmation before May 15Fed leadership uncertainty is adding to macro market riskSummary:Trump has escalated tensions with Fed Chair Jerome Powell, threatening to remove him if he does not step down on schedule. At the same time, markets remain uncertain about whether Kevin Warsh will be confirmed in time to replace him. The standoff is raising questions about Fed leadership and the path of U.S. monetary policy. This uncertainty could add volatility across risk assets and broader markets.The Unfiltered CZ: Behind the Struggles, the Setbacks, and Why He Still Believes Blockchain Will Change Every Life on EarthKey Takeaways:CZ says blockchain adoption is still in its earliest stageHe believes AI and blockchain will be complementary technologiesHe argues long-term upside remains far larger than current market sizeSummary:In a wide-ranging AMA, CZ said blockchain has realized less than 1% of its long-term potential and remains one of the most underdeveloped major technologies. He emphasized that crypto’s future extends far beyond current markets, into payments, lending, commodities, and global finance. CZ also argued that AI and blockchain will increasingly work together, especially as AI agents need native digital payment infrastructure. The message reinforces a long-term growth narrative despite current market noise.Market movers:ETH: $2320.36 (-2.89%)BNB: $614.33 (-0.66%)XRP: $1.3513 (-1.60%)SOL: $83 (-3.54%)TRX: $0.3221 (+0.22%)DOGE: $0.093 (-1.47%)U: $0.9998 (+0.02%)WBTC: $73791.23 (-1.03%)XAUT: $4775.23 (+0.39%)BCH: $434.4 (-0.62%)