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If Bitcoin breaks through $86,000, the mainstream CEX aggregate short liquidation intensity will reach 9.12 billion

Galaxy proposes MESA consensus method to solve Solana inflation governance problem Recently, Galaxy Research submitted a new proposal to the Solana community, aiming to reform the network's inflation governance discussion through a method called Multi-Election Staking Weight Aggregation (MESA). The mechanism attempts to introduce a market-driven process to optimize the SOL emission curve without relying on a single outcome vote. The proposed method does not change Solana's ultimate goal of achieving a 1.5% final inflation rate, but may significantly shorten the timeline for achieving that goal depending on the results of the community vote. According to Galaxy's forecast, if the current 15% deflation rate is maintained, the network will reach the final inflation rate at epoch 2,135. Increasing the deflation rate will bring this time point forward. In the current Solana system, inflation follows a fixed, time-dependent curve with the goal of achieving a final inflation rate of 1.5%. However, Galaxy pointed out that previous votes showed that although there was a general consensus that the inflation rate was higher than necessary, it was challenging to reach consensus on adjusting the parameters. Galaxy's new proposal provides an alternative that allows validators to choose from multiple predetermined deflation rates, and the result is determined by the weighted average of these votes. Instead of dynamically adjusting inflation based on real-time metrics, MESA voting will enforce a fixed anti-inflation trajectory, and once approved, the deflation rate will be adjusted based on the collective opinion of the validators. It is reported that the mechanism was inspired by the previous proposal SIMD-228. Although the community generally supports reducing the SOL inflation rate, the proposal failed due to the difficulty of reaching consensus on specific parameters by the binary voting mechanism.

Viewpoint: After gold prices hit a new high, Bitcoin is expected to rise within 150 days On April 17, gold prices surged to an all-time high of $3,357 per ounce, sparking speculation about whether Bitcoin would follow suit. In 2017, Bitcoin surged to $19,120 after gold had risen 30% a few months earlier. Gold reached a new high of nearly $2,075 during the 2020 COVID-19 pandemic, followed by a surge in Bitcoin to $69,000 in 2021. Historically, whenever gold has risen, Bitcoin has broken through its previous all-time high, reflecting the dynamic relationship between the two assets during times of economic uncertainty and as investors look for alternatives to the dollar. Joe Consorti, head of growth at Theya, noted that Bitcoin follows gold's directional moves with a lag of 100-150 days. "When the printing presses start, gold will smell it first, and then Bitcoin will follow more aggressively," he said. Given Consorti's views, Bitcoin is expected to reach a new all-time high between the third and fourth quarters of 2025. Anonymous Bitcoin supporter apsk32 expects a similar result or bull run between July and November. (Cointelegraph)

On Wednesday, asset manager Bitwise Investments announced listing four Exchange-Traded products (ETPs) on the London Stock Exchange. Through this launch, Bitwise aims to expand access to its products for Bitcoin (BTC) and Ethereum (ETH) investors. This is in addition to broadening its reach across the European market. The four products available for trading in London are part of Bitwise’s Germany-issued crypto ETPs. They include the Bitwise Physical Bitcoin ETP (BTCE), Bitwise Core Bitcoin ETP (BTC1), the Bitwise Ethereum Staking ETP (ET32), and the Bitwise Physical Ethereum ETP (ZETH). As revealed on Bitwise’s blog , the ETPs are designed to meet the needs of institutional investors. BTC1 is a cost-effective product designed for long-term institutional investors seeking benchmark reliability. On the other hand, BTCE is often used by short- to mid-term investors looking for flexible exposure to Bitcoin. The ET32 is an institutional-grade, low-cost, and liquid vehicle leveraging ETH staking for maximum investor outcome. Lastly, ZETH, which is equipped with institutional-grade custody, gives investors pure exposure to Ethereum performance. Bradley Duke, Managing Director, Head of Bitwise Europe, expressed excitement about launching the four ETPs in London. Duke noted that Bitwise would continue to innovate its product range to suit the needs of crypto investors. The launch of Bitwise’s ETPs emphasizes that crypto investment is rapidly becoming mainstream. It also indicates that institutional investors increasingly add digital assets to their portfolios. Bitwise began expanding its European activities in 2024 with the acquisition of ETC Group. Since then, it has launched new products regularly, such as the Bitwise Solana Staking ETP and the Bitwise Aptos Staking ETP. Last month, the asset manager launched the Bitwise Diaman Bitcoin & Gold ETP (BTCG). In addition to Europe, Bitwise is exploring and expanding institutional crypto offerings to other jurisdictions. As we covered in our latest report, Bitwise recently submitted a proposal to the US Securities and Exchange Commission (SEC) to amend existing rules. Bitwise aims to integrate staking rewards into an Ethereum ETF to enhance investors’ returns. Earlier in April, Bitwise also launched three actively managed ETFs using covered call strategies tied to MicroStrategy (MSTR), Coinbase (COIN), and Marathon Digital Holdings (MARA) stocks. As we discussed earlier, the ETFs are dubbed IMST, ICOI, and IMRA, respectively. These ETFs are managed by Jeff Park, Head of Alpha Strategy at Bitwise, and his team. This portfolio is actively monitored by paying attention to market news, option prices, sentiment, and capital inflows. One important factor to note is that this ETF does not give you direct ownership of MSTR, COIN, or MARA shares. Moving with ETF expansion plans, the firm introduced the Bitwise Bitcoin Standard Corporations ETF (OWNB). The ETF tracks public companies that hold at least 1,000 Bitcoin (BTC) on their balance sheets. With the launch of these products, Bitwise has positioned itself as a reliable crypto investment firm.

The approaching bull run is not a guarantee, but the signs suggest a significant opportunity is on the horizon. Let us prepare ourselves with wisdom, discipline, and a spirit of calculated optimism, ready to navigate the rising tide and potentially reach new shores of financial success. May your preparations be fruitful and your journey prosperous.