Bitcoin (BTC) gives back the overnight gains; as of May 7, it is temporarily trading around $81,000. White House adviser Patrick Witt said that the latest news on the U.S. Bitcoin reserve will be released “within the next few weeks.” The co-founder of the Samourai Wallet called for donating Bitcoin from federal prison; President Trump’s hope of a pardon looks slim.
Macro Events & Crypto Hot Topics
1、According to CoinDesk, Patrick Witt, executive director of the White House Digital Assets Advisory Committee, said at the Consensus conference that more information about the U.S. strategic Bitcoin reserve will be released “within the next few weeks.” He cited recent incidents in which digital assets held by U.S. law enforcement were attacked, showing that federal encrypted assets need to be consolidated and properly custodized.
Witt declined to disclose the exact size of the Bitcoin held by the government, saying the top priority is to “first tidy up the backyard,” including inventorying and auditing the crypto assets held by each institution. Witt said that after President Trump established the reserve through an executive order, the White House had halted the outgoing administration’s “fire-sale” liquidation. He pointed out that the reserve still needs to be codified through legislation, and Senator Lummis’s BITCOIN bill and Representative Begich’s corresponding bill are important foundations. He clarified that the reserve will not automatically absorb all newly seized assets; assets that are in legal proceedings must wait until the forfeiture process is complete. On issues such as custody authority, custody duration, and whether Congress can reclaim assets, Witt said that before the president signed the executive order, these matters indeed had not been studied.
2、According to a report by BeInCrypto, Samourai Wallet co-founder Keonne Rodriguez released a public appeal at the Morgantown Federal Prison (FPC Morgantown), asking Bitcoin holders to donate to a wallet address tied to legal debts that keep increasing for his family. Rodriguez posted on Twitter that he and his wife Lauren owe more than $2 million in legal fees. In addition, because he admitted operating an unlicensed money transfer business, they are also facing $250,000 in court penalties.
In a post dated May 6, he said that he is currently serving a 5-month prison term in West Virginia, with a sentence of 60 months. He surrendered to federal authorities in December 2025. During the 2026 Bitcoin conference, people briefly rekindled hope for a presidential pardon, but afterward that hope gradually faded. President Trump said at the end of 2025 that he would consider pardons.
News Watch
1、The German government plans to adjust its crypto-asset tax regime, or abolish the 1-year tax exemption policy for Bitcoin holdings
2、Bittrex asks the court to revoke its settlement agreement with the SEC and hopes to get back a $24 million penalty
3、Bermuda promotes stablecoin payments through USDC airdrops, attracting crypto firms and regulators
4、DTCC: Working with multiple high-performance L1 chains to move company actions on-chain
5、American Bitcoin releases Q1 financial report: losses for two consecutive quarters, Q1 net loss of $82 million
6、Grant Cardone: Bitcoin and real estate combination strategy can outperform REITs; has increased additional Bitcoin
7、U.S. media: Iran will respond to the U.S. proposal on Thursday
8、White House adviser: Latest news on the U.S. Bitcoin reserve will be released “within the next few weeks”
9、Project Eleven warns that the quantum critical point may “instantly explode,” expecting the earliest Q-Day in 2030
10、Bitcoin whales on Hyperliquid have pushed net long positions to a 2026 high
Market Performance
1、Latest Bitcoin update: $BTC gives back the overnight gains, temporarily around $81,000; in the past 24 hours, $165 million was liquidated, with the main liquidation on the long side;
2、U.S. stocks continued their strong rally on May 6, with the S&P 500 Index and the Nasdaq Index hitting record highs for two consecutive days. Market sentiment was boosted by two catalysts: first, solid earnings from Advanced Micro Devices (AMD) reignited AI investment enthusiasm; second, major progress in geopolitics—reports that the U.S. and Iran are close to reaching a ceasefire memorandum—pushed international oil prices sharply lower and eased inflation concerns. The Dow Jones Industrial Average closed up 612.34 points, up 1.2%, at 49,910.59. The S&P 500 rose 105.90 points, or 1.5%, to 7,365.12. The Nasdaq, driven mainly by tech stocks, surged 513.82 points, up 2.0%, closing at 25,838.95. The Philadelphia Semiconductor Index also touched a record high, closing up 4.5%, with a cumulative gain of 62% year-to-date.
(Source: Bitcoin Counter Flow)
3、In the BTC/USDT liquidation map, based on the current 81,140.15 USDT, if it falls to around 79,295, the cumulative liquidation amount for long positions will exceed $11 million; if it rises to around 84,075, the cumulative liquidation amount for short positions will exceed $11 million. Long and short liquidations are balanced. It is recommended to manage leverage reasonably to avoid triggering large-scale liquidations when market conditions change.
(Source: Coinglass)
4、In the past 24 hours, BTC spot inflows totaled $2.35 billion, outflows totaled $2.25 billion, for net inflows of $100 million.
(Source: Coinglass)
5、In the past 24 hours, net outflows led among contract trading for $ETH, $DOGE, $FIL, $SOON, $HYPE , and others, presenting trading opportunities.
Selected Views from X KOLs
Phyrex Ni (@Phyrex_Ni): “The U.S. and Iran are still in the midst of tug-of-war. But yesterday I think I got it right: the blockade of the Strait of Hormuz makes both countries uncomfortable, so resolving the Strait of Hormuz should be the first step of a peace agreement between the two countries. For the U.S., it’s almost impossible that WTI will stay above $100 long-term and still have rate cuts in 2026. Not even ‘worth it’—and even Trump’s son probably can’t do it.”
“For Iran too: if they continue to maintain a blockade of the Strait of Hormuz, the U.S. will blockade Iran’s oil exports—this is like squeezing Iran’s economic lifeline. And if the war continues, even though the U.S. won’t have it easy, Iran is very likely to be more severely hurt. If a ceasefire is a shared need of both sides, then the Strait of Hormuz is the throat of both sides’ economies.”
“Yesterday I was also thinking: if Iran makes the Strait of Hormuz a precondition for negotiations, then when the time comes for nuclear facilities, what bargaining chips would be left? Now that I think about it, since it’s right at Iran’s doorstep, if things don’t work out, they can just keep the blockade going. But that definitely isn’t a correct thing. Can Malacca and the Red Sea also be made ‘paid’?”
“However, although they are still bickering, the decline in oil prices shows that the market still sees an opportunity for negotiations to reach an agreement. If this week the price can stabilize and fall below $90, then U.S. inflation will be a bit easier going forward.”
“Returning to Bitcoin data, everything looks good on the data level. But unfortunately, I’ve kept emphasizing that the data is good because the U.S. and Iran are making progress, moving toward a peaceful resolution—not because of $BTC itself changing. At the moment, the overall crypto market still doesn’t have structural change; it can only be considered an accessory to U.S. stocks. When the U.S. stock environment and expectations rise, at the very least, Bitcoin won’t be too bad.”
Today’s Preview
1、Euro zone March retail sales (m/m), prior value -0.2%
2、U.S. seasonally adjusted initial jobless claims last week (thousands) (through 0502), prior value 189
3、U.S. February housing starts (m/m), prior value -0.3%
