Bitcoin hits new ATH. Crypto futures coming “very soon”

Hey there, Bitcoin HODLers and traders! 👋

Congrats to everyone on the new $BTC ATH – this week was truly an impressive one for the market! Let’s dive deeper into what happened over the past seven days 👇

quick weekly news

Bitcoin hits new ATH!

On May 22nd, 2025, the U.S. Bureau of Labor Statistics released a concerning report on Initial Jobless Claims, revealing that the number exceeded expectations by 13,000. Traditionally, such news signals a slowdown in economic activity in the U.S., which can lead to a decline in citizens’ purchasing power.

However, despite the negative economic signal, Bitcoin managed to surpass its previous all-time high (ATH) of nearly $107K, setting a new record close to $112K. The primary driver behind this unexpected rally was positive news from the Continuing Claims data, which came in better than expected. Blacknox, cofounder of the trading resource Material Indicators, commented that the “market wants to celebrate the good news and ignore the bad ones.”

This event also triggered a record-high open interest, which soared above $80B. It appears that not only retail investors but also large traders are betting on Bitcoin climbing even higher. A key symbol of this sentiment is a whale on Hyperliquid who opened a $1.1B long position on Bitcoin at around $108K, nearly at the peak of $BTC’s price. According to HyperDash, while the whale’s current position has decreased, it remains significant, around $800M worth of long exposure.Source: HyperDash

Despite the surge in optimism following weeks of market pain, the question remains: how long can this trend last? Many fundamental issues, including unresolved U.S. tariff concerns, still loom large. As always, keep a cool head and stick to your personal risk management strategy to avoid entering trades driven by FOMO.

crypto perp futures coming “very soon” – CFTC’s Mersinger

On May 22nd, 2025, Summer Mersinger, Commissioner of the Commodity Futures Trading Commission (CFTC), gave an interview to Bloomberg discussing her decision to leave the CFTC and join the Blockchain Association. During the interview, she emphasized that the recently introduced stablecoin bill in the Senate is a clear indication that this type of asset is here to stay, suggesting that stablecoins are being taken seriously at the highest levels of U.S. policymaking.

Mersinger also shared her thoughts on the work of the newly appointed CFTC Chair, Caroline D. Pham, selected by President Trump, who has been actively advocating for clear regulations and greater acceptance of the crypto market.

When asked by a Bloomberg interviewer about the potential launch of new crypto futures, Mersinger responded:

 “We’re seeing some applications, and I believe we’ll see some of those products trading live very soon…. We really are going to make the United States the forefront of economic power that we can see from these tokens and this asset class.”

David Sacks: “stablecoin bill is going to pass”

Speaking of the stablecoin bill, another high-ranking U.S. official, the so-called “crypto czar” David Sacks, also commented on the GENIUS Act, a piece of legislation recently introduced in the Senate to establish a regulatory framework for stablecoins in the U.S. According to Sacks, there are already over $200B in stablecoins in circulation, which need proper regulation in order to unlock trillions of dollars in potential demand for U.S. Treasuries.

The act has already advanced in the Senate, with a procedural vote passing 66–32, just two weeks after being stalled by Democratic opposition. Now, David Sacks believes that the GENIUS Act has a strong chance of passing.

However, uncertainties still remain surrounding the bill’s acceptance, as potential conflicts of interest have come into question, particularly concerning the Republican Party and, more specifically, Donald Trump himself. The primary reason for these concerns is the launch of $USD1, a stablecoin issued by World Liberty Financial, a crypto company backed by the Trump family. Many Democrats are now reasonably calling for the Trump-backed stablecoin to be excluded from the legislation altogether.

updates on crypto bills from Michigan and Texas

On the crypto adoption front in the U.S., it seems individual states are not waiting for full federal approval and are instead moving forward with their own efforts to establish regulatory frameworks for the crypto market.

The first state on today’s list is Michigan, where lawmakers filed four separate crypto-related bills in a single day, on May 21st, 2025. These bills cover key areas, including crypto mining, central bank digital currencies (CBDCs), and the inclusion of crypto assets in state retirement funds.

One of the most notable provisions allows the state treasurer, Rachael Eubanks, to invest in cryptocurrencies with a market capitalization above $250B over the past calendar year. Under this threshold, Bitcoin qualifies, and Ethereum is approaching that level. Another bill allows the treasurer to allocate up to 10% of Michigan’s Budget Stabilization Fund into cryptocurrencies. While this signals a bold step toward institutional crypto adoption, the proposals still need to go through the full approval process.

Meanwhile, Texas has passed its strategic Bitcoin reserve bill – it’s a state we’ve mentioned multiple times in previous digests. Under the new legislation, the state can now invest in any cryptocurrency that maintains a market cap of $500B+ over the previous 12 months. As of now, Bitcoin is the only digital asset that meets that criterion.

the MACD indicator review

📊 The MACD (Moving Average Convergence Divergence) is a trend-following momentum indicator that highlights shifts in trend direction through moving average crossovers and histogram changes. It helps traders spot potential entries, exits, and reversals with precision.

Why MACD matters:

🔸 Catch trend reversals: Spot bullish and bearish crossovers early;
🔸 Time entries & exits: Use histogram momentum to refine trade timing;
🔸 Confirm divergence: Detect hidden weakness or strength before price reacts

🔥 Bitcoin just smashed past $111K, setting another all-time high, but with every ATH comes heightened volatility and risk. Stay sharp and trade smarter by mastering the detailed MACD indicator guide by GoodCrypto. 🚀

We hope this digest was valuable and informative for you! If you want to be the first to receive new crypto insights and stay up-to-date with the market, follow us on Twitter or Telegram. Become a better trader with the Good Crypto app!