First Market｜Meme coin HOUSE and TROLL hit new highs, El Salvador may continue to increase BTC holdings.

Daily Summary: BTC ETF continues to see net inflows, El Salvador states it will continue to purchase BTC

According to data from Farside Investors, a total of $173 million flowed into Bitcoin spot ETFs in the United States yesterday. Among them, BlackRock’s IBIT saw an inflow of $216 million, while several other ETFs such as ARKB and BTIB experienced small outflows. Since February of this year, BTC ETFs had shown a one-sided net outflow trend, but a reversal trend has emerged since last week, and market sentiment is optimistic.

Yesterday, Ethereum spot ETF inflows totaled $18.4 million, with Fidelity’s FETH inflowing $25.5 million, Grayscale’s ETHE outflowing $7.1 million, and BlackRock’s ETHA data has not yet been updated.

Trump’s “Bitcoin Strategic Reserve” executive order will reach a critical juncture on May 5

On March 7th of this year, Trump signed an executive order aimed at promoting the establishment of a strategic Bitcoin reserve. This executive order requires a comprehensive review of the digital assets held by the federal government, which includes approximately 200,000 Bitcoins (valued at about 1.7 billion dollars at the time of signing).

The order also requires the Secretary of the Treasury to evaluate “the legal and investment considerations for establishing and managing a strategic Bitcoin reserve and U.S. digital asset reserves within 60 days, including the accounts where the strategic Bitcoin reserves and U.S. digital asset reserves should be held, and whether legislation is needed to implement any aspect of this order or to appropriately manage and administer these accounts.”

May 5 marks the 60-day deadline set by Trump’s executive order to complete the above tasks.

U.S. ETF Experts Comment on SEC’s Delay in Decision for Multiple Cryptocurrency ETF Applications: These Will Be Approved This Year

According to a post by Nate Geraci, president of The ETF Store, the U.S. Securities and Exchange Commission (SEC) has today postponed the approval decisions for several cryptocurrency ETF applications. The products involved include: Franklin’s SOL and XRP ETFs, Grayscale’s HBAR ETF, Bitwise’s DOGE ETF, staking plans for Franklin and Fidelity’s Ethereum ETFs, Franklin’s cryptocurrency ETF, and the physical subscription and redemption mechanism for Invesco Galaxy’s Bitcoin and Ethereum ETFs.

Nate Geraci stated that he still believes these products will be approved within this year.

El Salvador: Will Continue to Buy Bitcoin Even if an Agreement to Stop Accumulating Bitcoin is Reached with the IMF

According to a report by Bloomberg, El Salvador’s Minister of Economy Maria Luisa Hayem stated at the Web Summit event in Rio de Janeiro that despite signing a loan agreement with the International Monetary Fund (IMF) that requires a halt to the accumulation of Bitcoin, El Salvador will continue to purchase Bitcoin. Hayem confirmed in a live interview: “President Bukele has promised to continue accumulating assets.”

According to the official news of The Bitcoin Office, El Salvador has increased its holdings of 8 bitcoins in its national bitcoin strategic reserve in the past 7 days, bringing the number of bitcoins in the reserve to 6162.18.

Market Analysis: HOUSE and TROLL Reach New Highs, ALPACA Contract Market Pressures Shorts Again

Market Hotspots

Trump meme coin TRUMP has fallen for three consecutive days. According to market news, Trump may launch a new cryptocurrency on his social media platform Truth Social. Currently, the rise in the TRUMP token often comes from Trump’s own promotion; apart from its meme nature, it has no other utility.

The meme coins HOUSE and TROLL on the Solana chain have reached new all-time highs. Some community members believe that during quiet market periods, high-quality tokens always emerge on the chain. HOUSE has received strong support from well-known KOLs him and Ansem in the English-speaking community, and it has nearly risen tenfold in the past week.

market trend

BTC is experiencing narrow fluctuations during the day, with BTC ETF maintaining net inflows, and there are no significant negative factors in the market in the short term; today’s AHR999 index is 0.91, indicating that the current price is still suitable for long-term investors to dollar-cost average.

ETH follows the market fluctuations and has not shown an independent market trend. Since mid-April, the ETH/BTC exchange rate has been maintained around 0.019.

Altcoins are generally down, the AI agent sector is experiencing a general pullback, and the meme coin ALPACA has once again shown signs of a short squeeze in the futures market.

Macroeconomic News: US Stocks Rise Across the Board as Market Anticipates Federal Reserve May Begin Rate Cuts in June

The three major U.S. stock indexes collectively closed higher, with the S&P 500 up 0.58% at 5,560.83, the Dow Jones up 0.75% at 40,527.62, and the Nasdaq up 0.55% at 17,461.32. In terms of U.S. Treasuries, the benchmark 10-year Treasury yield was 4.19%, and the yield on the 2-year Treasury note, which is most sensitive to the Fed’s policy rate, was 3.65%.

The market view is that if the signs of a recession in the U.S. economy become more obvious, the probability of the Fed taking a “precautionary rate cut” will also increase significantly, so labor market-related data, such as initial jobless claims and the unemployment rate, are crucial for investors to judge the health of the U.S. economy.

The market is currently closely watching the U.S. non-farm payroll data report for April, which will be released on Friday. Some economists warn that the U.S. labor market may experience severe turmoil due to the tariff battle initiated by the Trump administration, which in turn has significantly increased the likelihood that the financial markets expect the Federal Reserve to initiate its first interest rate cut of the year in June.

Author: Icing T., Gate.io researcher *This article only represents the author’s views and does not constitute any trading advice. Investment involves risks, and decisions should be made with caution. *The content of this article is original, the copyright is owned by Gate.io, if you need to reprint, please indicate the author and source, otherwise you will be held legally responsible.