May 21, 2025
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Crypto Daybook Americas: Bitcoin Eyes New High As Metaplanet Mania Builds

Your day-ahead look for May 21, 2025”, – WRITE: www.coindesk.com

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Your day-ahead look for May 21, 2025 May 21, 2025, 11:15 AM

The Bronze Charging Bull Statue in New York(Marcio Jose Bastos Silva/Shutterstock.com)

What to Know: You are Viewing Crypto Daybook Americas, Your New Morning Briefing on What Happy Happy in the Crypto Markets overnight and What’s Expectioned Durying the Coming Day. Crypto Daybook American Will Arrive in your inbox at 7 am et to kickstart your morning with company comprehensive insights. If you’re not already subscribed, Click here. You won’t to start your day with it.

By James Van Straten (All Times et Unless Indicated OtherWise)

Bitcoin (BTC) Bulls Still Seem to be in Control. The Largest Cryptocurrency Posted a Record-High Daily Close On Tuesday, At $ 106.830, As It Extends Its Strong Upward Momentum with H Bush Minimal PullBacks, Putting The Putting The Previ $ 109,000 from Jan. 20 Well Within Reach.

This Price Action HAS SIGNFICANTLY BITCOIN-LEVERGED EQUITIES, WITH JAPAN’S METAPLANET (3350) Standing Out-Sts Stock Has Surged 160% in 2025 Alone. Strategy (Mstr), The poster Boy for Bitcoin Buying, Has Added 44%.

Metaplanet have repeatedly hit japan’s Daily Limit-Up Thresold WitHin Minutes of Market Open, Effectielyy Freeezing Upward Trading for The Day and Fueling What Resembles a Slow

SPECULATION AGGRCOIN ACCUMULATION, AS INDICATED by Metrics Like Days to Cover MNAV, IS DRIVING INVESTOR FRENZY. Still, CEO SIMON GEROVich Recently Posted on X that Metaplanet is Now the Most Shorted Stock in Japan, with 25% of Outstanding Shares Held Short.

Meanwhile, Macroconomic Conditions Add to the Complexity.

Japanese Bond yields are spiking, with the 30-year yield climbing above 3.1% and the 10-year surpassing 1.5%-The Highest Since 2008. in the UK, Inflation Unexpekedly climb Yield Toward the Critical 5% Level.

With Bitcoin Nearing New Highs Amid Rising Global Yields and Persenti Inflationary Pressures, Markets Are Entering A Phase of Height -Valativity that Demands Keen Atoncentation. Stay Alert!

What to Watch

  • Crypto
    • May 22: Bitcoin Pizza Day.
    • May 22: Top 220 Trump Token Holders Will ATend ATend A Gala Dinner Hosted by President Trump at the Trump National Golf Club in Washington.
    • May 30: The Second Round of FTX Repayments Starts.
  • Macro
    • Day 2 of 3: Canadian Finance Minister François-Philippe Champagne and Bank of Canada Governor Tiff Macklem Will Co-Host the-Day Meeting of G7 Finance Ministers and Cent. Alberta.
    • May 21, 8 AM: Mexico’s National Institute of Statistics and Geography Release Retail Sales Data.
      • Retail Sales Mom Est. 0.1% Vs. Prev. 0.2%
      • Retail Sales Yoy Est. 2.2% Vs. Prev. -1.1%
    • May 22, 8 AM: Mexico’s National Institute of Statistics and Geography Releases (Final) Q1 GDP Growth Data.
      • GDP Growth Rate QOQ EST. 0.2% Vs. Prev. -0.6%
      • GDP Growth Rate Yoy Est. 0.8% Vs. Prev. 0.5%
    • May 22, 8:30 AM: Statistics Canada Releases April Producer Price Inflation Data.
      • Ppi Mom Est. -0.5% Vs. Prev. 0.5%.
      • Ppi yoy prev. 4.7%.
    • May 22, 8:30 AM: The US Department of Labor Releases Unemployment Insurance Data for the Week Ended May 17.
      • Initial Jobless Claims Est. 230k Vs. Prev. 229k
  • Earnings (Estimates Based On Factor Data)
    • May 28: NVIDIA (NVDA), Post-Market, $ 0.88

TKEN EVENTS

  • Governance Votes & Calls
    • Arbitrum Dao is voteing on launching “the watchdog,” A 400,000-Arb Bounty Program to Reward Community Sleuths for Uncovering Misse deployed. Voting Ends May 23.
    • Arbitrum Dao is voteing on a constituration aip to upgrade arbitrum one and arbitrum nova to arbos 40, “Callisto.” Bringing them in line with Ethereum’s May 7 Pectra Upgrade. The Proposal Scherdules for June 17, and Voting Ends May 29.
    • May 21, 11 AM: Maple to Host An X Spaces Session to “Unveil The Next Chapter of Maple.”
    • May 22: Official Trump to Annune ITS “NEXT ERA” at the day of the Dinner for the Largest Token Holders.
    • June 10: Ether.fi to Host and Analyst Call Followed by a Q&A SESSION.
  • Unlocks
    • May 31: Optimism (OP) to Unlock 1.89% of It Circulating Supple Worth $ 22.58 Million.
    • June 1: Sui (Sui) to Unlock 1.32% of It Circulating Supple Worth $ 169.38 Million.
    • June 1: Zetachain (Zeta) to Unlock 5.34% of It Circulating Supple Worth $ 11.33 Million.
    • June 12: Ethena (ENA) to Unlock 0.7% Of ITS Circulating Supple Worth $ 15.36 Million.
    • June 12: Aptos (Apt) to Unlock 1.79% of It Circulating Supple Worth $ 57.91 Million.
  • TKEN LAUNCHES
    • May 21: Mantra (OM) to be listed on upbeat and the crypto.com App.
    • June 1: Staking Rewards for Staking ERC-20 OM ON MANTRA FINANCE END.
    • June 16: Advised Deadline to Unostake as Part of Lido on Polygon’s Sunsetting Process Ends.

Conferences

  • Day 3 of 7: Dutch Blockchain Week (Amsterdam)
  • Day 2 of 3: Avalanche Summit London
  • Day 2 of 3: Seamless Middle East Fintech 2025 (Dubai)
  • Day 1 of 2: Crypto Expo dubai
  • Day 1 of 2: Cryptoverse Conference (Warsaw)
  • May 27-29: Bitcoin 2025 (Las Vegas)
  • May 27-30: Web Summit Vancouver
  • May 29: Stablecon (New York)
  • May 29-30: Litecoin Summit 2025 (Las Vegas)
  • May 29-June 1: Balkans Crypto 2025 (Tirana, Albania)
  • June 2-7: SXSW London

Token TalkBy shaurya maalwa and oliver Knight

  • Hailey Welch, Aka “Hawk Tuah Girl,” is distancing Herslf from the failed hawk memecoin shepromoted in December 2024, Despite Initially Calling IT a.
  • On her talk tuah podcast, Welch said she was questioned by the FBI, Gave Her Phone to the Sec, and Was “Cleared” of Wrongdoing, Claiming She Was an Unwitting Participant.
  • Welch Now Says She She Didnn’t Understndand Crypto and Felt “Sick” that fans “that fans” that fans trust Her, Contrasting Her November 2024 Enthusiasm, wh fence she claimed to had the “learred sod.
  • HAWK, LAUNCHED ON SOLANA, REACHED A $ 491 Million Market Cap Before Craashing Below $ 100 Million Within Hours. IT’S NOW AT $ 104,000, Down 99% from Its Peak.
  • Welch Claiimed User Losses Were $ 180,000, Much Lower than the Estimated $ 1.2 Million. Her Figure Excludes 10,149 Token Holders Who Never Sold, Per Solscan.
  • Commentators Criticized Welch for Endorsing A Project She Didn’s Understand, with YouTube Comments Highlighting Her Lack of Accountability.
  • Welch’s Team Prevenly Stated the Project Was Legly Compliment with A Cayman Foundation and that Her Tokens Wuld Vest Over Three Years.

Derivatives Positioning

  • BTC Cme Futures Open Interest Continues to Rise, Topping $ 17 Billion for The First Time Since February. Meanwhile, Growth in Eth Open Interest Has Stalled Above $ 2 Billion. However, The Premium in Eth Futures is Slightly Higher than Btc’s.
  • On Offshore Exchanges, Perpetual Funding Rates Continue to Flash Bullish with Sub-10% Readings.
  • BCH, Ton Perpetual Funding Rates Remain Negative, Suggesting A Bias for Shorts and Potential for a Short Squeeze Should the Market Move Highher.
  • In options, Flows on Otc Network Paradigm Featured Demand for Calls, Especialy The $ 180k Call Expiring in September.

Market Movements

  • BTC is Down 0.64% from 4 PM et tuesday at $ 106.257.16 (24hrs: +1.23%)
  • ETH IS UP 0.42% AT $ 2,525.16 (24hrs: +0.51%)
  • Coindesk 20 is Down 0.27% AT 2.268.01 (24hrs: +0.6%)
  • Ether Cesr Composite Staking Rate Is Down 1 BPS at 3.03%
  • BTC FUNDING RATE IS AT 0.0088% (9.6886% Annualized) On Binance

Coindesk 20 members' performance

  • DXY IS DOWN 0.49% AT 99.63
  • GOLD IS UP 1% AT $ 3,313.10/Oz
  • Silver is up 1.02% AT $ 33.31/Oz
  • Nikkei 225 CLOSED -0.61% AT 37,298.98
  • Hang Seng Closed +0.62% AT 23,827.78
  • Ftse is down 0.15% AT 8,768.01
  • Euro Stoxx 50 is Down 0.45% AT 5,430.16
  • DJIA CLOSED ON TUESDAY -0.27% AT 42,677.24
  • S&P 500 CLOSED -0.39% AT 5.940.46
  • NASDAQ CLOSED -0.38% AT 19,142.71
  • S&P/Tsx Composite Index Closed +0.32% AT 26,055.6
  • S&P 40 Latin American Closed -0.26% AT 2.631.81
  • US 10-YEAR Treasury Rate is up 5 BPS at 4.54%
  • E-mini S&P 500 Futures Are Down 0.76% AT 5.914.75
  • E-mini NASDAQ-100 Futures Are Down 0.81% AT 21,274.50
  • E-mini Dow Jones Industrial Average Index Futures Are Down 0.76% AT 42,447.00

Bitcoin Stats

  • BTC Dominance: 64.01 (-0.15%)
  • Ethereum to Bitcoin Ratio: 0.02378 (0.63%)
  • Hashrate (Seven-Day Moving AVERAGE): 884 eh/s
  • HashPrice (Spot): $ 56.1
  • Total Fees: 7.42 BTC / $ 784,400
  • CME FUTures Open Interest: 160,155
  • BTC PRICED IN GOLD: 32.3 OZ
  • BTC VS Gold Market Cap: 9.15%

Technical AnalysisBTC's Hourly Chart. (TradingView)BTC’s Hourly Chart. (TradingView)

  • BTC Rose As High As $ 108,000 Early Today But Strugmed to MainTain The Momentum, with The Hourly Chart Macd Histogram Turning Negative.
  • PRICES WILL LIKELY CONSOLIDATE FOR COME TIME, ALLOWING A POSITIVE REASET OF THE MACD, Following WHICH The NEXT LEG HIGher Could Resume.

Crypto equities

  • Strategy (Mstr): Closed on Tuesday AT $ 416.92 (+0.85%), Down 0.58% AT $ 414.50 In Pre-Market
  • Coinbase Global (Coin): CLOSED AT $ 261.38 (-0.99%), Down 0.67% AT $ 259.64
  • Galaxy Digital Holdings (GLXY): CLOSED AT $ 30.52 (-3.08%)
  • MARA HOLDINGS (MARA): CLOSED AT $ 16.19 (-0.8%), Down 1.17% AT $ 16
  • Riot Platforms (Riot): CLOSED AT $ 8.93 (-0.45%), Down 1.46% AT $ 8.80
  • Core Scientific (Corz): CLOSED AT $ 10.92 (+0.65%), Down 2.2% AT $ 10.68
  • Cleanspark (CLSK): CLOSED AT $ 9.7 (-1.42%), Down 1.65% AT $ 9.54
  • Coinshares Valkyrie Bitcoin Mines ETF (WGMI): Closed AT $ 17.99 (-0.77%)
  • Semler Scientific (SMLR): CLOSED AT $ 41.88 (-3.21%), Up 2.63% AT $ 42.98
  • Exodus Movement (Exod): Closed At $ 34.51 (+1.77%), Down 1.45% AT $ 34.01

ETF FlowsSPOT BTC ETFS:

  • Daily Net Flow: $ 329.2 Million
  • Cumulative Net Flows: $ 42.75 Billion
  • Total BTC Holdings ~ 1.19 Million

Spot eth etfs

  • Daily Net Flow: $ 64.8 Million
  • Cumulative Net Flows: $ 2.61 Billion
  • Total Eth Holdings ~ 3.47 Million

Source: Farside Investors

Overnight FlowsTop 20 Digital Assets' Prices and VolumesChart of the dayStrategy's Bitcoin Stash Versus Bitcoin's Price. (21shares)Strategy’s Bitcoin Stash Versus Bitcoin’s Price. (21shares)

  • Strategy (mstr) have been accounting bitcoin at a breakneck speed, Maintening the pace even Dringing the March-April Price Swoon.
  • “From Gamestop to Metaplanet to Strategy’s $ 60B Stash, BTC is reshaping Corporate Finance. Discover How The ’42/42 Plan ‘Could Become a Blueprint For Other,” 21shares Saids Said.

While You Were Sleeping

  • Bitcoin Sets Record Daily Close with $ 110k As The Next Level to Watch For Btc (Coindesk): Bitcoin Set a Record High Close On Tuesday at $ 106.830 As Spot Etf Inflows Concerns Over Fiscal Stability, Which Analysts Say Could Benefit BTC and Gold.
  • Sec Charges Unicoin, Top Executives With $ 100m ‘Massive Securities Fraud’ (Coindesk): The Sec Alleged Unicoin Misled Inflating Property VALUTING, OVERSTATING SALES CLAIMES Million Was Raceded – and Promoting Rights Certificates with Exaggerated Return Promises.
  • UK Inflation Jumps, Reinforcing Bank of England’s Caut Ion (The Wall Street Journal): Annual Inflation Rose More Than Forecast to 3.5% in April on Rising Labor and Energy Costs. Projections Suggest A Gradual Return to Target by 2027.
  • ‘Days to Cover MNAV’: The New Standard for Evaluating Bitcoin Equities (Coindric Etric Etimates How Long A Company Welld Need To BiAt -Mothei -The Fitcoin to Jusify to Jusify to Jusify to the BitCumulae -BitCumulae -BitCumulae -BitCumulalate BitCumulae -Bit. Yield and Net Asset Value Multiple.
  • Morgan Stanley Strategists Say Buy America Except the Dollar (Bloomberg): Morgan Stanley Strategists Expect 2026 Fed Rate Cuts to Benefit US Stocks and Treasuries, While Forest. Yield Advantages Over Other Economies Shrink.
  • IMF URGES US TO CURB deficit as Trump Tax Cut Plan Plan Stirs Debt Fears (Financial Times) that trade uncertainty remains High despite recent Tariff Relief.

In the EtherJapan's Bond Market is ImplodingUS Credit Default Swaps Reach Levels Higher than 2008.Right Now MOST BANKS CANNOT Book A Currency With 8 Decimal Points.DON'T RELY ON XRP Futures Debut on CME WITH $ 19M VOLUME ON THE FIRST DAY WAS QUITE Good.

James van straten

James van straten is a senior Analyst at Coindesk, Specializing in Bitcoin and Its InterPlay with the Macroconomic Environment. Previously, James Worked As A Research Analyst at Saidler & Co., A Swiss Hedge Fund, WHERE HE DEVELPED Expertise in On-Chain Analytics. His work focuses on monitoring flows to Analyze Bitcoin’s Role with the Broader Financial System.

In addition to his professional endeavors, James Serves as an Advisor to Coinsilium, A UK Publicly Traded Company, WHERE HE PROVides Guidance on Their Bitcoin Treasury Strategy. He Also Holds Investments in Bitcoin and Strategy (MSTR).

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James van straten

Shaurya Malwa

Shaurya is the co-leader of the coindesk tokens and data team in asia with a focus on crypto derivatives, Defi, Market Microstructure, and Protocol Analysis.

Shaurya Holds Over $ 1,000 in Btc, Eth, Sol, Avax, Sushi, Crv, Near, YFI, YFI, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, CAKE, Vet, Vet, Vet RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, Banana, Rome, Burger, Spirit, and ORCA.

He Provides Over $ 1,000 to Liquidity Pools on Compound, Curve, Sushiswap, Pancakeswap, Burgerswap, Orca, AnaSwap, Spiritswap, Roki Protocol, Yearn Finance Olympusdao, Rome, Trader Joe, and Sun.

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Shaurya Malwa

Omkar Godbole

Omkar Godbole is a co-managing Editor on Coindesk’s Markets Team Based in Mumbai, Holds A Masters Degree in Finance and A Charted Market Technician (CMT) Member. Omkar Previoously Worked at FxStreet, Writing Research on Currency Markets and As Fundamental Analyst at Currency and Commodities Desk at Mumbai-Based Brokerage Houses. OMKAR HOLDS SMALL AMUNTS OF BITCOIN, Ether, Bittorrent, Tron and Dot.

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Omkar Godbole

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