Welcome to this week's Phenom Weekly Update

Bitcoin has once again topped the $100,000 mark, reaching an intraday high of $101,370 (as of writing), the highest since early February. This resurgence is attributed to renewed investor confidence following a new U.S.-U.K. trade agreement announced this morning. The deal, which maintains a 10% U.S. tariff on U.K. imports while the U.K. reduces its tariffs to 1.8%, has alleviated some market uncertainties, contributing to the bullish sentiment across the board.

In tandem with Bitcoin's rise, Ethereum has climbed over 14% to $2,050.46 (thank god, ETH needs a win).

Institutional interest in cryptocurrencies continues to grow. Coinbase has announced a $2.9 billion acquisition of Deribit, the world's largest crypto derivatives exchange, aiming to strengthen its position in the derivatives market ahead of anticipated institutional adoption.

Markets feel good today and hopefully we can continue this momentum through the month. Scroll down for more of this weeks news.

READING CORNER

A collection of longer form content we are consuming this week 

NEWS

Quick Hitters from the week

1. Bitcoin Bulls Bet Big on $100K Price Target for May
   Traders are piling into Bitcoin options betting on a $100,000 price tag by the end of May, driven by ETF momentum, supply tightening, and bullish sentiment. 🔗 Read more

2. Arthur Hayes Predicts $1M Bitcoin by 2028 as US-China Trade Deal Falters
   BitMEX founder Arthur Hayes says BTC is on track to hit $1 million by 2028, citing geopolitical instability and what he calls a “hollow” trade deal between the U.S. and China. 🔗 Read more

3. US Regulator Says Banks Can Custody Crypto and Outsource Services
   The Office of the Comptroller of the Currency (OCC) says federally regulated banks can offer crypto services — including outsourcing them — as long as proper oversight is maintained. 🔗 Read more

4. Coinbase to Acquire Deribit for $2.9B in Historic Derivatives Deal
   Coinbase has agreed to purchase crypto derivatives exchange Deribit for $2.9 billion, marking the largest acquisition in its history and a major bet on the derivatives market. 🔗 Read more

5. Ethereum’s Pectra Upgrade Set for Q4, Focuses on Smart Wallets and UX
   Ethereum developers are planning to roll out the Pectra upgrade in Q4 2025, introducing smart wallet functionality and UX improvements aimed at making Ethereum more user-friendly and secure. 🔗 Read more

6. Stripe to Launch Stablecoin Financial Accounts Later This Year
   Stripe is rolling out stablecoin-based financial accounts, allowing users to hold and spend digital dollars globally—beginning with USDC on Solana and Ethereum. 🔗 Read more

7. Strategy’s $84B Bitcoin Expansion Plan Gets Wall Street Support
   Strategy’s massive $84 billion Bitcoin accumulation strategy is getting backing from major Wall Street analysts, who view it as a bold bet on crypto institutionalization. 🔗 Read more

8. Charles Schwab to Launch Spot Crypto Trading Within 12 Months
   Charles Schwab plans to introduce spot cryptocurrency trading over the next year, as confirmed by CEO Rick Wurster. This move aims to meet growing investor demand and diversify client portfolios. 🔗 Read more

THE TWITTERVERSE

A collection of the most interesting stuff on Crypto Twitter this week

MEMES

For the (crypto) Culture

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