Trupti pawar

Ethereum Surges Past $2,600 Amid Bullish Momentum and Technical Breakout

May 12, 2025 — Crypto Desk Report

Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization, experienced a significant price rally over the past 24 hours, soaring past the $2,600 mark. This upward momentum comes after weeks of sideways movement and signals a renewed confidence in the Ethereum network and its long-term potential.

The rally was sparked by a confluence of bullish technical indicators, rising institutional interest, and recent network upgrades. Notably, Ethereum broke out of a “Head & Shoulders” pattern, a classic bullish reversal signal in technical analysis. Traders and analysts are now eyeing the $2,700 level as the next critical resistance point.

Adding to the optimism, reports surfaced of renewed interest from major institutional players, including BlackRock. Their involvement is seen as a key driver behind the recent surge, bolstering investor sentiment and reinforcing Ethereum’s position as a leading smart contract platform.

Further fueling the momentum is the recent rollout of the Ethereum Pectra upgrade, which enhances scalability, efficiency, and transaction throughput. Analysts suggest this upgrade could mark a turning point in Ethereum's evolution, laying the groundwork for broader adoption and future price appreciation.

At the time of writing, ETH is trading around $2,524, with intraday highs of $2,558 and lows near $2,452. While some profit-taking is expected, the overall sentiment remains bullish.

Looking ahead, if Ethereum maintains its current trajectory and sustains momentum above key resistance levels, analysts predict the token could challenge the $3,000 threshold in the coming weeks.

President Donald Trump said Sunday night that he will sign an executive order on Monday to cut the cost of prescription drugs in the United States, shaking a powerful industry and jolting stock markets in Asia.
Posting on Truth Social, the president vowed that the order, due at 9 a.m. in Washington on May 13, would slash prices “almost immediately by 30 per cent to 80 per cent.” He said the policy would create a “most fav nation” rule so America never pays more than whichever country gets the lowest price for the same medicine.
A similar idea stalled during Trump’s first term after fierce pushback from drug makers. This time he said that he is ready to confront them. “Campaign contributions can do wonders, but not with me, and not with the Republican Party,” he wrote. “We are going to do the right thing, something that the Democrats have fought for many years.”
Industry lobby group PhRMA, which led the earlier resistance, did not respond to comment requests by The Financial Times. The group has long argued that price caps would drain money from research.
Trump addressed the claim directly, writing that companies “would say, for years, that it was research and development costs, and that all of these costs were, and would be, for no reason whatsoever, borne by the ‘suckers’ of America, ALONE.” He said the new order means the country will “finally be treated fairly.”
Republican leaders who favor a lighter regulatory approach have not yet responded publicly, but several senior lawmakers opposed the earlier proposal when it surfaced in 2020.
Shock waves spread through Asian pharma markets
Shares in Japanese drugmaker Chugai Pharmaceutical Co. fell as much as 7.2% in early trading on Monday, their steepest slide in a month. 
Daiichi Sankyo Co. and Takeda Pharmaceutical Co. each lost about 5%. In South Korea, SK Biopharmaceuticals Co., Inc. and Samsung Biologics Co. all dropped more than 3%.
Analyst Hide Yamaguchi at Citigroup Global Markets Japan Inc. said in a note that, although the legal path is “questionable,” the announcement is negative for the whole sector. 
Firms that depend on the United States for a big share of revenue—such as Takeda, Astellas Pharma Inc. and Otsuka Holdings Co.—are especially exposed, he added. Shares of Astellas and Otsuka also traded lower.
Investors worry that any American move to squeeze prices could prompt tougher talks in other countries and shrink profit margins. The concern surfaces as many drug makers rely on U.S. sales to fund high-cost trials for cancer and next-generation therapies.
The White House has not released the full text of the order. Executives and lobbyists are expected to study the language once it is published to see whether it can be challenged in court. 
For now, both Wall Street and health-care watchers are waiting to see if Monday’s signing sets off a long legal fight—or a quick gain for shoppers at the pharmacy counter, for everyday American families.
KEY Difference Wire: the secret tool crypto projects use to get guaranteed media coverage

In a groundbreaking move, New Hampshire has become the first U.S. state to establish a strategic Bitcoin reserve. Governor Kelly Ayotte signed legislation authorizing the state treasurer to invest up to 5% of public funds into Bitcoin and other digital assets with a market capitalization exceeding $500 billion. Currently, only Bitcoin meets this criterion.
The digital assets will be securely stored through regulat#ed custody solutions or exchange-traded products. This law is set to take effect in 60 days, signaling a significant shift in how state governments perceive and interact with cryptocurrencies.
This initiative positions New Hampshire at the forefront of crypto adoption among U.S#USHouseMarketStructureDraft $BTC