Skybridge Capital's Co-CIO Sells Off Crude Oil and S&P 500 Index Short Positions, Loses Over $735,000

On May 3, CryptoQuant Head of Research Julio Moreno noted in a report: "Perpetual futures contract demand was the sole driver of Bitcoin’s price gains in April, while apparent spot demand continued to shrink. Historically, this pattern has emerged in bear markets—and uptrends tied to it often struggle to hold." Moreno added that the divergence between surging futures demand and fading spot demand is among the clearest on-chain signals, indicating the rally is far more speculative than rooted in structural growth. He emphasized the price jump is fueled primarily by leverage, not fresh Bitcoin capital inflows. Moreno also warned: "Historically, this type of structure lacks the underpinnings to sustain a price rally. When futures positions begin unwinding, a price pullback typically follows as a correction." CryptoQuant noted the current perpetual futures-driven demand structure mirrors that of the early 2022 bear market. While this doesn’t guarantee the same outcome now, the setup

As of May 3rd, Onchain Lens data shows a crypto whale closed its ETH short position over the past three days and instead opened a 2x leveraged long position on MEGA. The whale’s current unrealized loss from the trade has topped $840,000.

Per Wu Jinyan Monitor, Bio Protocol has rolled out staking for BIO’s new token sale over the past two days—with BIO subsequently surging more than 100%. Following BIO’s sharp rally, the Bio Protocol multisig wallet transferred 80 million BIO (roughly $5.15 million) to Binance and OKX 8 hours ago.

May 3rd — Tasnim News Agency has shared key details of Iran’s 14-point response to the U.S.’s 9-point proposal, which include: 1. U.S. assurance of non-aggression 2. U.S. military withdrawal from around Iran 3. Ending the naval blockade against Iran 4. Unfreezing Iran’s frozen assets 5. Payment of war reparations 6. Lifting sanctions on Iran 7. Ending fighting across all fronts (including Lebanon) 8. Establishing a new mechanism for the Strait of Hormuz The U.S. put forward a two-month ceasefire proposal, but Iran has confirmed all issues must be resolved within 30 days — shifting the focus from extending the ceasefire to fully ending the war.

**May 3 – U.S. President Donald Trump said in a Florida airport interview on the evening of May 2 (Eastern Time) that a U.S. airstrike against Iran is possible.** **In a tweet, Trump noted he will soon review Iran’s latest proposed deal but “cannot imagine” it is “acceptable,” adding Iran has “not paid a big enough price” yet. Earlier that day, before boarding Air Force One, Trump said he would later explain Iran’s latest proposal.** **Earlier reports from Iran indicated Tehran had submitted a 14-point proposal via Pakistan in response to the U.S.’s prior 9-point proposal. (Forexlive)**

On May 3, Iran’s Fars News Agency reported in a May 2 dispatch that Senior Commander Sardar Asadi of the Iranian Armed Forces’ Hatam Anbia Central Headquarters stated the likelihood of another U.S.-Iran conflict is high, but Iran is fully prepared. Asadi noted there is evidence the U.S. does not abide by any agreements, and U.S. officials’ actions are more a public relations ploy to prevent oil prices from falling and extricate Washington from the predicament it has created. Asadi added the Iranian Armed Forces are ready for any “adventurous and foolish actions” the U.S. may take.