Bitcoin price hovered below the $104K–$105K resistance zone this week, with traders watching for a pullback to $90K—unless a bull flag breakout takes the lead. While some expect profit-taking, on-chain data shows selling pressure remains weak, hinting at continued momentum. Analysts suggest Bitcoin is consolidating within a classic bull flag, often a sign of an impending breakout.
Crypto analyst Scott Melker believes the BTC price could surge to $250K by year-end, fueled by rising institutional interest and declining volatility. “250K this year? Totally possible,” Melker said, pointing to the growing presence of pension funds and ETF issuers.
Ready to catch up? Here’s your top recap of this week’s biggest crypto market stories.
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TOP CRYPTO NEWS RECAP (May 11-May 17, 2025)
- Bitcoin Dominance Dips as Analysts Predict June Altcoin Surge
- SEC Hacker Sentenced to 14 Months in Prison
- Stablecoin Regulation Next ‘Catalyst’ for Crypto Industry — Aptos Head
- Bitcoin to $1M by 2028 As Hayes Tells Europe To ‘Get Your Money Out’
- CFTC Commissioner Will Step Down To Become Blockchain Association CEO
- Coinbase To Become the First Crypto Firm To Join the S&P 500
Bitcoin Dominance Dips as Analysts Predict June Altcoin Surge
Bitcoin's market dominance fell from 65% to 62% in a week, signaling a potential shift toward altcoins. Alphractal CEO Joao Wedson predicts a full altcoin season in June, with 37 of 57 tracked altcoins already outperforming Bitcoin. The total crypto market cap rose from $2.9 trillion to $3.24 trillion, suggesting capital rotation into altcoins. However, broader indices like CoinMarketCap’s altcoin index (stuck at 27) imply Bitcoin still dominates. Wedson advises analyzing altcoins against BTC pairs (e.g., ETH/BTC), as Bitcoin’s $2 trillion market cap may partially flow into altcoins despite mixed market signals.
SEC Hacker Sentenced to 14 Months in Prison
Eric Council Jr. has been sentenced to 14 months in prison for his role in a SIM swap attack that hijacked the SEC’s official X (formerly Twitter) account in January 2024. The hack led to a false announcement about Bitcoin ETF approval, briefly shaking the crypto markets. Council pleaded guilty to conspiracy to commit aggravated identity theft and access device fraud, after earning about $50,000 from similar attacks. Despite prosecutors pushing for a two-year sentence, the judge granted a lighter term and 36 months of supervised release. This case highlights growing concerns over digital security threats in the crypto space.
Stablecoin Regulation Next ‘Catalyst’ for Crypto Industry — Aptos Head
Stablecoin regulation could be the next major catalyst for the crypto industry, says Ash Pampati, head of ecosystem at Aptos Foundation. Speaking at Consensus 2025, he emphasized that global momentum—especially outside the U.S.—is accelerating due to stablecoins’ efficiency, low cost, and cross-border capabilities. In regions like Latin America, 71% use stablecoins for payments, and 86% of firms report infrastructure readiness. Regulation remains the final hurdle, but falling barriers and growing institutional interest suggest a breakthrough is near. Pampati believes stablecoins could reshape fintech by enabling seamless B2B and B2C transactions, particularly in developing economies.
Bitcoin to $1M by 2028 As Hayes Tells Europe To ‘Get Your Money Out’
Arthur Hayes, former BitMEX CEO, predicts Bitcoin could skyrocket to $1 million by 2028, driven by major macroeconomic shifts. In his May 15 blog post, Hayes points to two main catalysts: the looming devaluation of U.S. Treasurys and the global repatriation of foreign capital. He warns Europeans to move their money into Bitcoin as governments tighten control over personal funds. Hayes argues that the upcoming 2028 U.S. election could accelerate these dynamics. With institutional investors like Fidelity and Michael Saylor also eyeing multitrillion-dollar Bitcoin valuations, Hayes reinforces his bold forecast: Bitcoin is the ultimate financial escape hatch.
CFTC Commissioner Will Step Down To Become Blockchain Association CEO
Summer Mersinger, a current CFTC commissioner, is stepping down early to become CEO of the Blockchain Association, a key crypto advocacy group. She’ll assume the role on June 2, succeeding Kristin Smith. Her early exit—three years before her term ends—opens the door for former President Donald Trump to nominate a new commissioner, potentially reshaping the CFTC's balance. Mersinger, known for advocating clear crypto regulations and CFTC oversight of the crypto spot market, was seen by some as a future CFTC chair. Her move underscores the growing intersection between Washington’s regulatory scene and the crypto industry's push for policy influence.
Coinbase To Become the First Crypto Firm To Join the S&P 500
Coinbase is set to make history on May 19 as the first crypto firm to join the prestigious S&P 500 index, replacing Discover Financial Services. This inclusion signals growing mainstream acceptance of the crypto industry and will likely boost demand for Coinbase (COIN) shares, as index-tracking funds will be required to hold them. Following the announcement, Coinbase stock surged nearly 9% in after-hours trading. CFO Alesia Haas hailed the move as a major milestone for both the company and the broader crypto space. With a $52.8 billion market cap, Coinbase now stands alongside tech giants in a landmark moment for crypto.
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