According to Lookonchain, Ethereum (ETH) has surged over 20% in the past 24 hours, breaking above the $2,300 level. Notably, Abraxas Capital has withdrawn 61,401 ETH, valued at $116.3 million, from exchanges in the last two days. This significant accumulation and large-scale withdrawal signal strong institutional interest and reduced short-term selling pressure, which could further bolster bullish momentum in the crypto market. Traders should monitor on-chain activity as continued accumulation may support upward price action and increased market volatility. (Source: Lookonchain via X.com)

According to Crypto Rover, Arizona has officially enacted a new law to establish a strategic Bitcoin reserve (source: Crypto Rover on Twitter, May 8, 2025). This legislative move is a strong bullish signal for the crypto market, as it marks one of the first U.S. states to formally integrate Bitcoin into its financial infrastructure. Traders should monitor Bitcoin price action closely, as state-level adoption can drive institutional interest and increased liquidity. This development may also set a precedent for other states, potentially accelerating mainstream adoption and influencing global crypto market sentiment.

According to Crypto Rover (@rovercrc), former President Donald Trump has publicly called for the Federal Reserve to lower its interest rates, a move widely interpreted as super bullish for risk assets like Bitcoin and cryptocurrencies. Market participants view rate cuts as supportive of higher asset prices, with historical data indicating positive momentum for crypto markets when monetary policy eases (source: Crypto Rover Twitter, May 2, 2025). Traders are watching for potential increased inflows into Bitcoin and altcoins, anticipating possible rallies if the Fed responds to political pressure.