# GCR Weekly

*BTC at 80K, Progress on the Clarity Act & SEC Delays Prediction Markets ETFs*

By [GCR](https://paragraph.com/@globalcoinrsrch) · 2026-05-04

newsletter, crypto, market

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**Summary of the Week**
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**Bitcoin rallied to $80K and is still holding above that level, while Ether traded around $2,382.** Despite a strong ~20% gain in April, the **move appears driven by perpetual futures demand rather than spot**, signaling a more speculative rally with higher correction risk, according to CryptoQuant.

On the industry side, **Kraken’s parent Payward completed the Bitnomial acquisition**, unlocking U.S. crypto derivatives, while **CoinShares reported $165.7M in 2025 revenue**. **Haun Ventures raised $1B for crypto and AI focused funds**. B**itMine acquired 101,745 ETH (~$237.7M) for a third consecutive week** above 100K ETH, while **Strategy paused weekly BTC purchases ahead of its Q1 earnings.**

Policy and legal tensions picked up. **Coinbase signaled progress on the Clarity Act** stablecoin yield provisions, potentially clearing the way for Senate movement, while **Trump affiliated World Liberty filed a defamation lawsuit against Justin Sun**. A**ave LLC also filed an emergency motion** seeking to lift a court order freezing ~$73M in ETH tied to the Kelp DAO exploit. **The SEC also delayed a wave of prediction market ETFs** as SEC is looking closer at how the products would function and the risks to investors.

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_Stay on top of crypto markets, emerging narratives, and new opportunities._  
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**Latest Deal Highlights**
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**1)** **Orbital spacecraft company** operating at the intersection of defense infrastructure, orbital logistics & pharmaceutical manufacturing — **one of only three companies to ever demonstrate orbital Earth re-entry, alongside Boeing and SpaceX.** Serving government/defense customers (hypersonic testing, re-entry, payload return) and pharma companies (microgravity drug formulation).

**Heavy SpaceX alumni team**, led by a former SpaceX engineer and **a co-founder with deep venture, defense & U.S. government procurement expertise.**

**Raised $328M** from **Khosla Ventures, Lux Capital, General Catalyst & Founders Fund**.

**2) Crypto casino** built to compete directly with the market leaders, leveraging deep expertise in VIP acquisition, creator/affiliate distribution, and high-velocity feature shipping. The team — **former COO, CPO & CMO from Stake, bet365, William Hill & FanDuel** — with a track record of building successful companies ($100M+ annual profit).

**Raised $21M** in 2025, backed by **1kx, Makers, MFV & Delphi founders**, with a clear path to $1B+ EBITDA within 3 years.

**3) Nuclear microreactor** startup building compact sodium cooled reactors designed for distributed energy such as data centers, industrial sites and AI compute. Reactor architecture builds on the **DOE’s MARVEL program with ~90% design approval already achieved**. Prototype test reactor assembled in under 8 months with **reactor building completed in 36 days**. **$136M+ raised including a $100M Series B.**

Backed by **Valor Equity Partners, Fifty Years, Hitachi Ventures, NRG Energy** and others.

[Find Out More](https://t.me/gcrx_bot)

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Crypto Markets
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Bitcoin is trading just below $80K, **pushing into resistance while momentum builds**.

Price structure remains strong, with BTC grinding higher and now **eyeing the $82K to $83K CME gap**. The trend is intact, but we are entering a zone where reactions matter more than continuation.

On the flow side, **CVD expanded aggressively before pulling back**, suggesting strong buying followed by some profit taking. Despite that, price is holding near highs, which points to **absorption rather than rejection**.

**Open interest is rising again, indicating** **new positioning entering the market**, not just short covering. This adds fuel, but also increases the risk of volatility if positioning gets crowded.

**Coinbase Premium has turned slightly negative**, showing **U.S. spot demand is cooling at the margin**, even as price pushes higher.

From a macro perspective, **Bitcoin’s correlation with U.S. equities is rising again**, signaling a renewed link to broader risk markets. At the same time, **ETF inflows remain strong, with ~$2.4B in April**, reinforcing the structural bid. Longer term, narratives like **ARK’s $16T market cap projection** continue to anchor institutional interest.

Overall the setup shows  
• **strong uptrend into resistance**  
• **buying followed by absorption**  
• **leverage building again**  
• **slightly weaker spot confirmation**

**Bull case**  
**A clean break above $80K** with CVD re accelerating and premium turning positive opens the move toward **$82K to $83K and beyond**.

**Bear case**  
**If flows weaken and premium stays negative**, this could turn into a local exhaustion move, especially with rising leverage.

**Bottom line**  
**BTC is strong, but now at a decision point.**  
Continuation requires **real demand to confirm, not just positioning.**

**Total Market Cap**: 2.64T (+1.93% weekly)  
**BTC Dominance**: 60.5%  
**Fear and Greed Index**: 47 (Neutral)

![](https://storage.googleapis.com/papyrus_images/d6fef660e8d34dfbe315d2070b930df00e9667814d8ab1d94f5e82ba9c810d69.png)

Source: Velo

### Crypto News

*   [Bitcoin rises past $80K on Trump Hormuz mission](https://www.theblock.co/post/399835/bitcoin-rises-past-80000-trump-hormuz-mission)
    
*   [Crypto stocks rally as Clarity Act progresses and BTC holds $80K](https://www.coindesk.com/markets/2026/05/04/circle-coinbase-lead-crypto-stock-rally-amid-clarity-act-progress-bitcoin-above-usd80-000)
    
*   [Kraken parent Payward completes Bitnomial acquisition](https://www.theblock.co/post/399851/kraken-parent-payward-completes-bitnomial-acquisition)
    
*   [Haun Ventures raises $1B for crypto and AI fund](https://www.theblock.co/post/399902/crypto-vc-haun-ventures-raises-1-billion-fund-investing-blockchain-ai)
    
*   [Kraken alleges $25M misappropriation by custodian Etana](https://www.theblock.co/post/399880/krakens-parent-company-alleges-custodian-etana-misappropriated-25-million)
    
*   [Bitmine adds 101,745 ETH in third straight 100K+ weekly buy](https://www.theblock.co/post/399883/bitmine-adds-101745-eth-in-third-straight-weekly-buy-above-100000-tokens)
    
*   [Strategy skips BTC buy as price tops $80K](https://decrypt.co/366624/strategy-skips-bitcoin-buy-btc-80k-first-time-since-january)
    
*   [Polymarket and Kalshi volumes hit $150B](https://www.theblock.co/post/399759/polymarket-and-kalshis-combined-lifetime-volumes-hit-150-billion-in-april)
    
*   [Western Union explores USDPT stablecoin on Solana](https://decrypt.co/366677/western-union-usdpt-stablecoin-solana-anchorage-digital)
    

**Regulatory and Policy**
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*   [Aave fights $73M ETH freeze, argues thief does not own stolen funds](https://www.theblock.co/post/399923/aave-fights-73-million-eth-freeze-argues-thief-does-not-own-what-steals)
    
*   [Justin Sun downplays Trump WLFI countersuit as dispute escalates](https://www.theblock.co/post/399871/meritless-pr-stunt-justin-sun-downplays-trump-wlfi-defamation-countersuit-token-dispute-escalates)
    
*   [Coinbase says deal reached on Clarity Act stablecoin yield](https://www.theblock.co/post/399780/coinbase-says-deal-reached-on-clarity-act-stablecoin-yield-clearing-path-to-long-stalled-senate-markup)
    
*   [SEC delays prediction market ETFs set to debut this week](https://www.theblock.co/post/399881/sec-pumps-brakes-prediction-market-etfs-set-debut-this-week-reuters)
    

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**_DISCLAIMER_**_: Investing carries with it inherent risks, including but not limited to technical, operational, and human errors, as well as platform failures. The content provided is purely for educational purposes and should not be considered as financial advice. The authors of this content are not professional or licensed financial advisors and the views expressed are their own and do not represent the opinions of any organization they may be affiliated with. This content is intended solely for members of GCR and may not be redistributed._

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*Originally published on [GCR](https://paragraph.com/@globalcoinrsrch/gcr-weekly-4-may)*