#Gate广场五月交易分享 Crypto Daily (05.02): Bitcoin monthly increase of 11.87% but blocked at $80k, ETF funds hit a new high this year, mining companies face continued selling pressure

1. Bitcoin price trends and market analysis
1. In April 2026, Bitcoin increased by a total of 11.87%, closing the month higher, successfully turning the previous monthly high resistance level into support. Currently, the price has been consolidating in the $75,000-$80,000 range, repeatedly testing the $78,000-$79,000 resistance level without effective breakthrough.
2. On-chain data shows that short-term holders are selling after profits, and derivatives market institutions are mostly hedging downward, with traders generally favoring short positions at highs. Market opinions on future trends vary, with different institutions providing support and resistance ranges and trend forecasts.
3. On the macro level, the Federal Reserve maintains interest rates, with rate cut expectations delayed until the second half of 2026. Geopolitical tensions, US stock market trends, and oil price fluctuations all influence Bitcoin's price movements. Currently, Bitcoin still fluctuates with macro risk assets.

2. Bitcoin ETF market dynamics
1. In April, US spot Bitcoin ETFs saw a net inflow of $1.97 billion, setting a new monthly high for 2026, reflecting renewed institutional demand for Bitcoin. Short-term funds are volatile; on April 30, a single-day net inflow of $14.7578 million, after three days of a total net outflow of $490 million.
2. Globally, many countries are advancing Bitcoin ETF initiatives. The Japan Exchange Group (JPX) officially launched Bitcoin and cryptocurrency ETFs. Goldman Sachs also submitted a registration application for a Bitcoin ETF to the US SEC.

3. Bitcoin mining company updates
1. After Bitcoin halving, mining companies face halved block rewards and rising operational costs. Leading publicly traded miner Riot Platforms continues its strategy of selling mined Bitcoin, depositing 500 BTC back into institutional custody with NYDIG, worth approximately $38.24 million, for sale.
2. Riot’s selling strategy contrasts with some miners who choose to hoard Bitcoin. Market concerns persist that ongoing miner selling could suppress Bitcoin's short-term price increases.

4. Institutional forecasts and industry opinions
1. Ark Invest’s 2026 annual report predicts that, driven by accelerated institutional adoption, Bitcoin’s market cap will reach $16 trillion by 2030, with individual Bitcoin prices potentially exceeding $730k. The broader digital asset market could reach $28 trillion.
2. Industry experts believe that the US national debt surpassing GDP confirms Bitcoin’s value as an inflation hedge due to its fixed supply. Institutional demand continues to grow, and Bitcoin’s recognition as a reserve asset is steadily increasing.
3. Strategy’s continued accumulation of Bitcoin through preferred stock financing has differing analyst opinions: some see it as a long-term strategic move, while others warn of risks tied to Bitcoin’s ongoing price appreciation.

5. Bitcoin infrastructure and miscellaneous updates
1. Galoy is expanding its native Bitcoin banking platform, integrating six core services—including lending, payments, and custody—for US banks and credit unions, promoting traditional financial institutions’ entry into Bitcoin-related services.
2. The industry is beginning to prepare for Bitcoin risk management. Paradigm proposed the PACT timestamp mechanism to counteract Bitcoin’s quantum attack risks; leading stablecoin Tether reported a net profit of $1.04 billion in Q1 2026, with excess reserves reaching $8.23 billion.