The Daily: Analysts expect crypto rally to resume after hawkish Fed dip, Trump's sons say bitcoin can clear $170K, and more

The following article is adapted from The Block’s newsletter,  The Daily , which comes out on weekday afternoons.

Happy Thursday! Crypto-related attacks are on the rise — from Paris to Buenos Aires, where a fresh kidnapping attempt just hit the headlines. Stay safe out there, folks.

In today's newsletter, markets remain jittery, but some analysts expect the bitcoin and crypto rally to resume after a dip triggered by hawkish Fed minutes. Plus, President Trump's sons predict bitcoin can clear $170,000, SOL Strategies files to raise up to $1 billion to buy additional Solana, and more.

Meanwhile, ICYMI, Freysa AI, a crypto-AI startup on Base, has quietly secured $30 million from Coinbase Ventures, Selini Capital, and others, with previously undisclosed founders and corporate ties now confirmed by The Block.

Let's get started.

Analysts expect crypto rally to resume after dip on hawkish Fed minutes

Bitcoin and crypto prices dipped after hawkish Fed minutes released on Wednesday highlighted persistent inflation risks and economic uncertainty, prompting short-term profit-taking.

• However, analysts expect the rally to resume soon , with BRN's Valentin Fournier citing strong institutional demand and ongoing spot Bitcoin ETF inflows led by "on fire" BlackRock .
• Additional factors include continued corporate adoption, with Trump Media, GameStop, and Strategy all announcing new bitcoin treasury moves earlier this week, Fournier said.
• While Glassnode data shows rising profit-taking, its analysts noted that the current metrics remain far below the levels seen during previous market tops.
• Traders are now closely watching Friday's PCE report — the Fed's preferred inflation gauge — with even slight surprises expected to trigger sharp crypto market reactions, according to CoinPanel's Dr. Kirill Kretov.

Trump's sons say Saylor inspired their crypto aspirations, predict bitcoin can clear $170,000

Don Jr. and Eric Trump predicted bitcoin could hit $170,000 or higher in 2026 during a panel discussion at the Bitcoin 2025 conference in Las Vegas on Wednesday.

• President Trump's eldest sons have become outspoken advocates of the industry, touting their crypto ventures, including World Liberty Financial and American Bitcoin, which plans to go public this year.
• Eric Trump credited Strategy co-founder Michael Saylor with inspiring their family's pivot to crypto, even claiming he once urged them to mortgage the Mar-a-Lago resort to invest in bitcoin.
• Eric Trump also cited his personal experiences with being debanked as a catalyst for his enthusiasm for crypto and slammed the traditional banking system as "corrupt."
• The Trump family's involvement in crypto has drawn scrutiny from Democrats, who recently introduced a bill aimed at barring politicians and their immediate family members from digital asset investments.

SOL Strategies files to raise up to $1 billion to buy more Solana

Canada-listed investment firm Sol Strategies filed a preliminary prospectus with local securities regulators to raise up to $1 billion to further its Solana-focused investment portfolio .

• CEO Leah Wald said the filing offers capital flexibility as Solana ecosystem opportunities continue to grow. However, the company noted that it currently does not have immediate plans to issue securities and may never pursue such an issuance.
• The firm recently tapped a $500 million convertible note facility and used the first $20 million tranche to buy over 122,000 SOL.
  Since rebranding and pivoting from Bitcoin to Solana-based investments, Sol Strategies' stock has soared more than 2,000%.
• Meanwhile, another Solana-focused crypto treasury firm, DeFi Development Corp., said that it plans to adopt liquid staking tokens to enhance its treasury management and validator operations.

Norway-based K33 raises $6.2 million to launch its bitcoin treasury strategy

Norway-based investment firm K33 has raised $6.2 million through newly issued shares and warrants to launch a bitcoin treasury strategy.

• CEO Torbjørn Bull Jenssen said the firm sees bitcoin as both a conviction investment and a strategic enabler to fuel product expansion, expecting the foremost cryptocurrency to become an instrumental part of the global financial system.
• K33's plans include improving trading margins and launching new services, such as BTC-backed lending, as it pushes into the next phase of its crypto product roadmap.
• The firm's Q1 revenue surged 200% year-over-year to $46.6 million, according to its latest earnings report released Wednesday, as it joins the likes of Strategy and Metaplanet in the corporate bitcoin accumulation race.

'No deal has been signed': Elon Musk contradicts Telegram's $300M xAI partnership

Elon Musk publicly denied signing a $300 million cash and equity deal between xAI and Telegram , contradicting an earlier announcement by the messaging giant's CEO Pavel Durov.

• Durov later walked back the claim, admitting the deal to integrate the Grok AI chatbot across its social platform was only agreed "in principle" and is not yet finalized.
• Toncoin surged nearly 19% on the initial announcement but pulled back after Musk's clarification cast doubt on the deal's certainty.

In the next 24 hours

• U.S. PCE data are released at 8:30 a.m. ET on Friday.
• U.S. FOMC member Raphael Bostic will speak at 12:20 p.m.
• Moca Network is set for a token unlock.

Never miss a beat with The Block's  daily digest  of the most influential events happening across the digital asset ecosystem.