Coin price today May 30: Bitcoin falls below $28,000, Altcoin cool, stocks rise slightly as US reaches tentative agreement on debt ceiling lift

Tap Chi BitcoinPublicado em 2023-05-30Última atualização em 2023-05-30

Resumo

After failing to hold onto its bullish momentum, Ethereum (ETH) showed a slight correction, establishing a local intraday bottom at $1,879 and is currently working to retest the $1,900 area.

Bitcoin traded below $28,000 on May 29, as traders wary of a fresh correction following the weekend's bullish momentum.

BTC Price Chart – 1 hour | Source: TradingView

Stock market futures rallied Monday night after the Biden administration and Republican lawmakers reached a tentative agreement on raising the US debt ceiling.

Dow Jones futures were up 72 points, or 0.2%, while S&P 500 futures were up 0.3% and Nasdaq-100 futures were up 0.5%.

President Joe Biden and Speaker of the House, Kevin McCarthy, reached an agreement to raise the debt ceiling and avoid default by the end of the week, with Congress set to vote on the legislation as early as Wednesday. Lawmakers have not signaled they intend to return to Capitol Hill anytime soon to implement the deal. The support of both Republicans and Democrats is needed for the bill agreement to pass.

The deal came just days before June 5, the earliest date by which the Treasury Department signaled that the United States may not be able to meet its debt obligations.

Protracted negotiations between the White House and congressional leaders have raised concerns among investors that a U.S. debt default may be imminent. Wall Street has faced persistent inflation and a banking crisis this year.

Stocks closed higher on Friday. Nasdaq Composite and S&P 500 ended last week in the green. The market was closed on Monday for Memorial Day.

Investors will also keep an eye on May jobs data, due on Friday, while the April Labor Statistics and Job Openings Survey from the Bureau of Labor Statistics will be released on Friday. The forth day. HP Inc and Salesforce will report earnings on Tuesday and Wednesday, respectively.

Gold prices fell on Monday (May 29), as the U.S. move towards a debt ceiling agreement coupled with concerns around the possibility of higher interest rates for longer dented demand for gold.

At the end of the session, the spot gold contract fell 0.1% to $1,944.1 an ounce, hovering near a two-month low. Gold futures were mostly flat at $1,943.3 an ounce.

Oil prices rose on Monday (May 29), after US leaders reached a debt ceiling agreement and helped prevent default in the economy and the world's largest oil consumer.

Ending the session, the Brent oil contract increased 66 cents, or 0.9%, to $77.61 a barrel. The WTI oil contract added 75 cents, or 1%, to $73.42 a barrel.

Data from TradingView shows BTC/USD volatility gradually cooling off after a surprise weekly close just above $28,000.

With US markets closed for the Memorial Day holiday, crypto markets are getting quieter, traders are awaiting a congressional vote on a proposed deal to expand the US debt ceiling. .

Meanwhile, Bitcoin, up 4.4% on May 28, however, this rally does not convince everyone that the bulls can now have the upper hand.

BTC/USD chart with caption | Source: Crypto Tony

Crypto trader Tony is still leaning to the downside, saying the market still has room for a return to the $23,000 bottom.

“IF closes back below $27,500, I will close my long position and look for a short position.”

The DecenTrader trading suite further noted that short positions are increasing, despite many being liquidated on May 28.

However, Material Indicators has warned that key indicators referring to the 200-week moving average are still acting as support, with one of the closest being at $26,000.

An accompanying chart shows Binance's BTC/USD order book, with increasing bid Liquidity and currently sitting around $27,000.

Binance BTC/USD order book data | Source: Material Indicators

On the Altcoin side, most projects were in the red on the day after Bitcoin failed to sustain gains above $28,000.

Projects like Optimism (OP), Render Token (RNDR), SingularityNET (AGIX), Casper (CSPR), Flare (FLR), Fantom (FTM), Conflux (CFX), Pepe (PEPE), KAVA (KAVA), MINA (MINA), Polygon (Matic)… all dropped from 3-8%.

Source: Coinmarketcap

After failing to hold onto its bullish momentum, Ethereum (ETH) showed a slight correction, establishing a local intraday bottom at $1,879 and is currently working to retest the $1,900 area.

ETH price chart – 1 hour | Source: TradingView

The column “Coin Price today” will be updated at 9:00 daily with general market news, readers are welcome to follow.

Leituras Relacionadas

Ethereum Foundation Interim Executive Director Speaks Out: What Is Our Mission?

The Ethereum Foundation's core mission is to ensure Ethereum remains a truly permissionless, censorship-resistant, private, and open infrastructure for large-scale, sovereign coordination. The article clarifies the EF's focus and dismisses irrelevant objectives, such as pursuing institutional popularity or short-term speculation. Its core work centers on eliminating systemic weaknesses. This involves fortifying Ethereum across multiple layers—protocol, access, user, and institutional—against exploitation, control, or surveillance. Key initiatives include minimizing harmful MEV and preventing privileged control over transaction flow, making unconditional privacy a foundational default, ensuring staking remains permissionless and decentralized, and strengthening user-facing access points to uphold autonomy. Concurrently, the EF aims to seize strategic opportunities. These include leading the transition to post-quantum cryptography, achieving a fully verifiable protocol stack, establishing Ethereum as private digital cash, integrating user-owned AI agents with personal wallets, and demonstrating that trusted-neutral infrastructure can competitively handle disintermediated coordination at an institutional scale. The article also addresses recent organizational changes, stating that personnel departures were due to strategic realignment, role fit, or natural evolution. It clarifies the approach to spin-outs, emphasizing that external funding will be provided only for work critical to the EF's mission that reduces Ethereum's dependency without creating new risks or mission drift. Ultimately, the EF is committed to building an enduring, neutral system that reshapes global coordination, focusing relentlessly on the principles of censorship resistance, openness, privacy, and sovereignty (CROP).

链捕手Há 34m

Ethereum Foundation Interim Executive Director Speaks Out: What Is Our Mission?

链捕手Há 34m

Switching Research Fields in the Final Year of My PhD, I Landed an Offer from OpenAI: My Interview Journey Was Full of 'Surprises'

Yong Zheng-Xin, a final-year PhD student at Brown University, secured an OpenAI offer after pivoting from multilingual models to AI safety research in his last year. In his blog post "Surprising lessons from my research scientist job search," he shares six unexpected insights from his job hunt. He found that often only one or two key papers matter for securing an interview, not the total number. Interview formats were highly diverse, including unexpected rounds on system design and AI agent usage. "Work trials," common in AI startups, involved paid, sometimes week-long collaborative tasks that disrupted other interview preparations. Timing proved crucial, with opportunity windows sometimes lasting less than a month. Return offers for research roles were rare compared to software engineering. Surprisingly, many interview rounds were unrelated to his specific AI safety focus, instead testing broader research competencies. Zheng-Xin concludes that the ability to demonstrate relevant expertise in a new field can unlock opportunities, regardless of one's previous publication record.

marsbitHá 45m

Switching Research Fields in the Final Year of My PhD, I Landed an Offer from OpenAI: My Interview Journey Was Full of 'Surprises'

marsbitHá 45m

David Villa Officially Appointed as Brand Ambassador for BitradeX

David Villa, the legendary Spanish striker and 2010 World Cup champion, has been officially appointed as the Global Brand Ambassador for BitradeX. This partnership, announced amid the global excitement for the 2026 World Cup, aims to enhance the platform's international brand influence. Villa, a key figure in Spain's golden era of football and the nation's all-time top scorer, embodies a spirit of perseverance, focus, and the relentless pursuit of excellence. BitradeX officials stated that this champion mentality aligns perfectly with their own core values of innovation, long-term development, and global strategic expansion. As a global AI-driven digital asset ecosystem, BitradeX will collaborate with Villa across branding, global market promotion, community engagement, and strategic initiatives. The company believes Villa's widespread influence and trusted international image will serve as a crucial bridge to connect with users worldwide. This collaboration marks a significant step in BitradeX's globalization strategy, with both parties committed to exploring new opportunities in the digital age and writing a new chapter of shared achievement.

链捕手Há 57m

STRC 跌破面值，比特币财库实验进入下半场

The price of STRC, Strategy's dividend-paying preferred stock, has fallen below its $100 face value, triggering a re-evaluation of the "bitcoin treasury" corporate model. This highlights a critical tension: the company's asset base consists of high-volatility, non-cash-flow-generating Bitcoin, while its capital structure requires continuous cash payouts for dividends and interest. The decline of STRC signals that market pressure is shifting from asset price volatility to the pricing of the company's financing tools. Strategy's core model involves a three-step conversion: turning equity into Bitcoin exposure, converting Bitcoin holdings into capital market credit, and packaging non-yielding BTC into cash-paying securities like STRC. While Strategy holds a massive 847,363 BTC, the focus is now on cash flow mismatches. The company faces annual preferred stock dividend obligations of approximately $1.7 billion, far exceeding the cash flow from its legacy software business. Its ability to meet these obligations relies on continued access to capital markets. The market is now scrutinizing which of three potential costs becomes untenable first: rising dividend costs to attract investors, dilution costs from issuing more common stock, or the reputational cost of selling BTC—a move contrary to its "hodl" narrative. For the broader crypto market, a constrained Strategy means the potential loss of a predictable, narrative-driven marginal buyer for Bitcoin. The STRC discount serves as a reminder that the longevity of such models depends not just on Bitcoin's price, but also on financing windows, cash reserves, and investor willingness to pay a "trust premium" for the structure.

marsbitHá 1h

marsbitHá 1h

Standard Chartered Bank’s 50-Fold Fantasy: Predicting AAVE to Reach $3,500

Standard Chartered Bank has issued an optimistic research report predicting that the AAVE token could surge 50-fold to $3,500 by 2030. This forecast is based on the projection that the total value locked (TVL) in DeFi will grow 37x to approximately $2.7 trillion, driven by stablecoin expansion and the tokenization of real-world assets (RWA). The bank's model links Aave's potential valuation directly to its protocol revenue, which is primarily driven by net interest margins. The report highlights Aave's current dominant position, noting it captures over 80% of the net earnings ("protocol retained earnings") in the lending sector while holding only about half of its TVL. It also points to the recent launch of the Aave V4 architecture and a healthy revenue stream of $142 million in 2025 as positive fundamentals. Grayscale's separate analysis, applying traditional valuation metrics like DCF, concluded AAVE is currently undervalued. However, the article notes significant challenges. Aave's peer-to-pool lending model suffers from inherent capital inefficiency, with an estimated $52 million annual "deadweight loss" due to idle funds needed for liquidity buffers. This structural flaw was exposed during the April KelpDAO exploit, which locked a WETH pool at 100% utilization for days. Emerging protocols like Morpho, with more efficient point-to-point models, are cited as growing competitive threats. In summary, while institutional forecasts paint a macro picture of massive growth fueled by RWA adoption, Aave's path forward hinges on addressing its core structural limitations and competitive pressures within the evolving DeFi lending landscape.

链捕手Há 2h

Standard Chartered Bank’s 50-Fold Fantasy: Predicting AAVE to Reach $3,500

链捕手Há 2h

Trading

Spot

Futuros