SwapSpace Weekly Recap: Bitcoin holds strong, stablecoin bill stalls, and crypto security fears rise

This week in crypto gave us a bit of everything: U.S. lawmakers pulling a 180 on stablecoin legislation, disturbing reports out of Europe, and Bitcoin proving it’s still got strength post-halving. We’ve rounded up the biggest headlines, key moves, and what to watch next.

Let’s dive in!

Last week’s highlights

• Bitcoin shows resilience post-halving

Bitcoin has been holding steady above $95,000, showing it’s still strong after April’s halving. Experts are now predicting it could soon hit $100K — it's looking more like a “when,” not “if” situation.

• Ethereum trades sideways

Ethereum stayed rather flat around $1,830 this week. There’s no big catalyst at the moment, but developers are hopeful with some big upgrades coming this summer.

• Senate stablecoin bill hits a roadblock

The stablecoin regulation bill hit a setback when several Senate Democrats pulled out, citing national security concerns. This puts stablecoin rules back on hold, showing just how tricky U.S. crypto legislation can be.

• Crypto-linked kidnappings rise in France

There’s a disturbing rise in kidnappings targeting crypto-rich individuals in France. In one case, a man was kidnapped and tortured for a ransom, drawing attention to a potential growing issue across Europe.

• Bitcoin Cash gets an upgrade

On May 2, Bitcoin Cash introduced two key upgrades aimed at improving scalability. While it won’t move the price much, it’s a step forward for BCH as it works to grow beyond just a Bitcoin alternative.

• Crypto mining backlash in Texas

In Texas, residents are pushing back against large-scale crypto mining operations, complaining about noise and health issues. This could lead to new regulations in the state that has been a haven for crypto miners.

• Worldcoin makes its U.S. debut

Sam Altman’s Worldcoin opened its first U.S. store in San Francisco, offering biometric iris scanning for its World ID product. This move is raising some privacy concerns, but also shows the project’s ambitious global expansion.

This week’s stats

Top gainers

• Virtuals Protocol (VIRTUAL) +54.3%
• Flare (FLR) +24.1%
• Solayer (LAYER) +23.4%

Top losers

• Official Trump (TRUMP) –26.7%
• Bonk (BONK) –18.9%
• Ethena (ENA) –17.7%

Key pairs

• BTC/USD: $94,021
• ETH/USD: $1,807
• BTC/ETH: 52

What to watch this week?

Looking ahead, there’s a lot going on in the crypto world, and here’s what you should keep an eye on:

• Regulation news: After the U.S. stablecoin bill took a hit last week, there might be more discussions or updates on regulations that could affect the market.
• Bitcoin’s next move: Bitcoin is still holding strong post-halving, but will it hit $100K soon? Everyone’s watching for signs of a big price jump.
• Ethereum updates: Ethereum’s been moving steadily, but with major upgrades coming this summer, it could make some waves soon.
• Global developments: Worldcoin just opened its first store in the U.S., and there are ongoing regulatory changes in Europe, so keep an eye out for any news that could change the market’s mood.

It’s shaping up to be another exciting week in crypto! From Bitcoin’s strength to all the regulatory drama, things are constantly shifting. If you’re looking to stay ahead, you can grab the coins mentioned here on SwapSpace. For more details on price predictions, check out the Price prediction page. Don’t forget to explore SwapSpace’s tools and products to make the most out of your crypto investments!