Bitcoin (BTC) — Onchain News & Whale Tracking

Bitcoin Surges Above $78,000

On May 26th, per HTX market data, Bitcoin rebounded to break the $78,000 mark, now trading at $78,023 with a 0.58% 24-hour price change.

If Bitcoin breaks $80,000, the mainstream CEX's total short liquidation volume will reach $777 million.

On May 26th, data from Coinglass shows that should Bitcoin rally above $80,000, total short liquidations across major centralized exchanges (CEXs) will hit $777 million. Conversely, if Bitcoin drops below $76,000, cumulative long liquidations on mainstream CEXs will reach $634 million. BlockBeats Note: Liquidation charts do not display the exact number of contracts set to be liquidated or the precise value of those contracts. The bars on these charts instead represent the relative importance of each liquidation cluster compared to adjacent clusters—this is what’s defined as "liquidation strength". Thus, these charts illustrate how severely an underlying asset’s price may react when it reaches a specific level. A higher "liquidation bar" signals a more intense price swing driven by a liquidity cascade once that price point is hit.

Strive Invests $85.4 Million to Increase Its Bitcoin Holdings by 1,109 Coins

On May 26, Strive CEO Matt Cole revealed on social media that he increased his bitcoin holdings by roughly $85.4 million, purchasing 1,109 coins at an average price of approximately $76,988 per bitcoin. His total bitcoin holdings now stand at 16,500 coins.

Opinion: US Stock Short Positions Reach an All-Time High, Bitcoin May See a 'Decoupling Moment'

May 26: XWIN Research published a note pointing out that short positions in the U.S. stock market have recently surged to an all-time high. But this doesn’t signal broad market bearishness, the report argues. Data shows hedge funds’ total leverage ratio has climbed to roughly 293%. Both the S&P 500’s short exposure and Days-to-Cover ratio hit record peaks, indicating institutional investors are maintaining large long positions while significantly boosting their hedge bets. The market is now in a structural state of “high leverage with concurrent long and short expansion”: the surface trend remains upward, yet internal defensive sentiment is sharply rising. The core driver of this dynamic is that funds keep concentrating in AI-linked mega-cap stocks. A flood of capital is flowing to just a handful of tech giants, while mid-cap and weaker sectors face sustained shorting. This has kept the index afloat but is building up internal fragility. Such a structure suggests that once the AI

Wintermute: Bitcoin Key Support Level is in the $75,000-$76,000 Range, Market Structure Has Not Completely Deteriorated

**May 26 Market Update** Wintermute noted in a recent post that the macro environment improved significantly last week. Key shifts: Brent crude plunged 9% on easing Iran tensions, the 10-year U.S. Treasury yield slipped to 4.50%, and U.S. stocks notched their eighth consecutive weekly gain, hitting an all-time high. While energy-driven inflation pressures eased, consumer anxiety remained elevated: the University of Michigan’s consumer sentiment index hit a record low of 44.8, with 1-year inflation expectations climbing to 4.8%. Separately, May’s manufacturing PMI hit a four-year high, though input costs rose to their highest level since 2022, signaling a resurgence in commodity inflation. The Federal Reserve’s April meeting minutes also struck a hawkish tone—warning further policy tightening could be on the table if inflation stays stubborn—a stance not yet fully priced into markets. On the tech front, NVIDIA delivered a blowout quarterly earnings report: Q1 revenue hit $81.6 bill

Analysis: Bitcoin's Short-Term Turnover Dives Significantly, Market Now Near Bottom

May 26th. Analyst Murphy noted that Bitcoin’s current market conditions are best observed via the “Short-Term On-Chain Activity Value Weight” — the share of on-chain USD value attributed to short-term chip turnover. This indicator tracks the latest short-term trading behaviors: speculation, arbitrage, profit-taking, or panic selling. Currently, this weight has fallen to a historically low level, a threshold only ever seen during bear market bottoms in the past 15 years. This points to a significant drop in short-term turnover, with economic value shifting toward long-term chip accumulation, signaling the market is in a phase of low volatility, accumulation, or clear bottom characteristics. Murphy believes that, based on this data, the market could currently be in one of three stages: a bear market bottom, a secondary bottom (possibly involving one final drop), or pre-bull market accumulation. However, rational analysis temporarily rules out the pre-bull accumulation scenario. He advis

Bitcoin Volatility Nears Lowest Level Since 2023 as Crypto Market Enters 'Calm Before the Storm'

On May 26, Bitcoin’s expected volatility plummeted to a nine-month low. The Bitcoin VIX Index—which tracks 30-day expected volatility derived from option prices—dropped to 36.11, hitting its lowest level since September last year and nearing the 2023 low point. Weak trading activity, paired with speculative capital shifting away from Bitcoin to other assets, has eased demand for options as a protective hedge. Meanwhile, Bitcoin’s price has pulled back to levels close to its September 2023 lows, with the broader crypto market entering a "breather" phase. Market sentiment remains relatively calm, and short-term volatility is expected to stay suppressed at low levels moving forward.

Digital asset investment products saw a net outflow of $1.47 billion last week, with Bitcoin experiencing the largest weekly outflow of the year 2026 at $1.315 billion.

On May 26, CoinShares released its latest weekly report. Digital asset investment products posted a net outflow of $1.47 billion last week—marking the second straight week of negative performance and the third-largest single-week outflow of 2026, with total outflows over the two-week period hitting $2.54 billion. Breaking down by asset class: Bitcoin led with $1.315 billion in outflows, its largest single-week exodus so far in 2026. Year-to-date cumulative inflows for Bitcoin have fallen from $3.9 billion to $2.6 billion. Ethereum saw outflows of $223 million, nearly unchanged from the prior week. Some altcoins posted modest inflows: XRP took in $31.8 million, Near picked up $9 million, and Solana received $7.7 million. By region, the outflow trend was dominated by U.S. outflows of $1.425 billion in a single week. Switzerland, Canada, and Hong Kong recorded smaller outflows of $16.2 million, $12.5 million, and $12.2 million, respectively. Risk aversion sentiment shifted last week fro

Bitcoin Enters High-Risk Zone as Institutional Funds Continue to Withdraw, Highlighting Selling Pressure Concerns

MAY 26 (Crypto Brief) – Blockchain analytics platform Swissblock reports Bitcoin is gradually moving into a high-risk environment, driven largely by persistent institutional fund outflows—most notably net outflows from U.S. spot Bitcoin ETFs. Historical data shows whenever this metric signals structural selling pressure dominating the market, it typically aligns with systematic distribution activity by institutional players. Separately, on-chain analytics firm Glassnode noted that since May 7, U.S. spot Bitcoin ETFs have posted net outflows nearly every trading session, with institutional selling signals persisting for over two weeks. “These sustained outflows continue to weigh on the market’s supply side, and there’s currently not enough observable buy-side demand to offset them,” Glassnode added, further widening the supply-demand imbalance risk. On the market front, Bitcoin faced short-term downward pressure Tuesday amid geopolitical tensions: reports of a new round of U.S. milita

Glassnode: Active Addresses Decline, ETF Flows Improve, Bitcoin Enters Holding Pattern

May 26. Over the past week, Bitcoin’s price slid from roughly $79,000 to a local low around $74,000 before bouncing back to near $77,000. Its price momentum dropped 21.7%, signaling a sluggish trend and building selling pressure. Meanwhile, spot crypto volume delta (CVD) and perpetual CVD rose 77.2% and 35.5% respectively, suggesting selling pressure is easing and the market is moving toward balance. Market activity has also cooled off: spot trading volume fell 10%, while futures open interest dipped 3.5%, pointing to fading speculative interest and a more wary market tone. That said, hints of fresh risk appetite are starting to surface. The long-position funding rate surged 135.4%, underscoring robust demand for bullish bets and a shift toward more optimistic sentiment. In the options space, the 25-delta skew edged up, meaning a small rise in demand for downside protection, while open interest stayed steady—showing positions are still holding. Turning to traditional markets: the MV

Analysis: Bitcoin Short Selling Overconcentrated, Potential for Massive Short Squeeze upon Breaking $82,000

As of May 26th, Bitcoin’s implied volatility has fallen to 36%—its lowest level in nearly eight months—signaling the market expects BTC to trade sideways in the near term. A drop in volatility alone doesn’t indicate price direction, but derivatives market data suggests short positions may be overcrowded; a break above $82,000 could trigger a large-scale short squeeze. CoinGlass’s Liquidation Heatmap shows BTC short orders are concentrated in the $78,000–$83,000 range. BTC has failed to recapture the $90,000 threshold for nearly four months, leading some short sellers to hold more aggressive bearish outlooks. Meanwhile, Glassnode data points to a 14% 30-day option Delta Skew, meaning put options carry a significant premium over call options—a sign professional traders remain notably concerned about BTC’s downside risk. The market has already priced in the expectation that BTC could retrace to $72,000. However, a move above $82,000 on substantial trading volume would likely spark a mor

Cathie Wood: Bitcoin's 5-Year Bull Case Target Price Is $1.25 Million

On May 26, Cathie Wood—founder of Ark Invest—detailed her five-year Bitcoin price projections: a base case scenario of $750,000 and a bull case scenario of $1.25 million. Wood cited key factors driving Bitcoin’s growth: its function as an alternative to gold, its position as a hedge asset, and expanding institutional adoption.

Analysis: Exchange Net Inflows and ETF Outflows Create Potential Selling Pressure of 34,000 BTC, Bitcoin Will Need Spot Buying Support to Break $80,000

May 26 – Cryptocurrency analyst Axel Adler Jr. noted that even though Bitcoin (BTC) recently reclaimed the $77,000 mark, net inflows into exchanges paired with continuous outflows from U.S. spot Bitcoin ETFs are still creating localized selling pressure in the market. Data shows over the past week, roughly 18,000 BTC has flowed into exchanges net—meaning more coins are being moved to platforms for sale. At the same time, U.S. spot Bitcoin ETFs saw net outflows of around 16,000 BTC in that same period. Combined, this adds up to potential selling pressure of roughly 34,000 BTC. Glassnode data also indicates that the daily trading volume of spot BTC ETFs has dropped below $20 billion, down from over $50 billion at the end of 2025—a sign that speculative demand from traditional finance channels is cooling. However, market sentiment has improved recently due to expectations of a U.S.-Iran peace agreement. BTC quickly rebounded to around $77,800 after falling below $75,000. Derivatives dat

Bitcoin falls below $77,000, Ethereum drops below $2,100

On May 26, data from HTX shows Bitcoin dipped below $77,000, posting a 0.27% loss in the 24-hour period. Ethereum also fell below $2,100, with a 0.35% drop over the same timeframe.

Bitcoin ETF sees outflows of over $2 billion in two weeks, but analysts say “institutional funds have not exited”

May 25: Bitcoin remained volatile below the $78,000 threshold on Monday, continuing its recent sideways price trend. Earlier, U.S. spot Bitcoin ETFs saw over $1 billion in net outflows for two straight weeks, with last week’s net withdrawal totaling $1.26 billion. Despite persistent outflows from BTC and Ethereum ETFs, several institutions frame these moves as "fund rotation" rather than a complete retreat from the crypto space. Timothy Misir, Head of Research at BRN, stated: "Institutional buying pressure hasn’t vanished—it’s just rotating to other assets." Data supports this shift: over the same period, the XRP ETF posted a $22 million net inflow, Solana ETF pulled in $16 million, the newly launched Hyperliquid (HYPE) ETF attracted roughly $72 million, while Ethereum ETF outflows reached $216 million. Analysts attribute recent market choppiness to multiple factors: U.S.-Iran tensions, the SEC’s delay in its tokenized stock trading plans, and upcoming U.S. macroeconomic data releas

US-Iran Peace Agreement to be Finalized in a Few Days: Oil Price Plunges, Global Stock Markets Rally, Bitcoin Poised for Bullish Rebound

**May 25th** Per *The New York Times*, the U.S. and Iran are pushing forward with negotiations for a ceasefire and peace deal, though finalizing a full agreement is still expected to take several more days—sign-off is needed from both nations’ top leadership. U.S. President Donald Trump said the deal would either be “great and meaningful” or “no deal at all.” Iranian officials, for their part, noted that while most issues are agreed upon, “a signing is not imminent.” Under the terms being discussed, core elements include reopening the Strait of Hormuz to navigation, de-escalating tensions in the Middle East, and creating space for future nuclear talks with Iran. U.S. officials say Iran has agreed in principle to address its stockpile of highly enriched uranium. But Iran’s Foreign Ministry stressed negotiations right now remain focused on “ending the war” and have not yet delved into nuclear specifics. Fueled by optimism around the potential peace breakthrough, international

Bitcoin Poised for ‘$80k Short Squeeze,’ Analysts Warn of Imminent Liquidity Crisis

May 25 Crypto Market Update: Bitcoin Bounces on US-Iran Tension Hope, But Warning Signs Loom On May 25, as traders positioned for easing U.S.-Iran tensions, Bitcoin bounced off roughly $75,000, sparking expectations the crypto could push toward $80,000—and trigger a wave of short liquidations. Several market participants framed Bitcoin’s earlier dip below $75,000 as a liquidity sweep rather than a meaningful sell-off, noting the current market mood has shifted to a short-term bullish trend. Analysis shows a large cluster of high-leverage short positions is concentrated between $80,000 and $80,500; a sustained price rise here could ignite a new short squeeze. Meanwhile, growing optimism over a potential U.S.-Iran peace deal is boosting broader risk assets: U.S. stock futures hit an all-time high, while oil prices pulled back. Analysts widely agree that reduced geopolitical risk acts as a tailwind for crypto and other high-risk assets alike. But on-chain and fund flow data are

「Lost and Found」 or「Legal Loophole」? New York Lawsuit Over 39,000 Dormant Bitcoin Wallet

MAY 25 — A May 1 lawsuit filed in New York is asking a court to grant ownership of 39,069 long-dormant Bitcoin wallets, sparking critical legal questions about lost crypto assets and how property law applies to digital currency. Plaintiffs Noah Doe and two Wyoming limited liability companies — ABC Company and XYZ Company — argue the Bitcoin linked to these addresses counts as "abandoned property" under New York’s Abandoned Property Law, and the case has been reported to the New York Police Department. The wallet addresses include funds from early Bitcoin miners, plus those tied to Bitcoin’s enigmatic creator, Satoshi Nakamoto. But the lawsuit’s legal standing is shaky. Even if the court rules in the plaintiffs’ favor, it’s technically unenforceable because the Bitcoin network lacks any "keyless fund reallocation" mechanism. Analysts from research firm Castle Labs note the only exception would be if the coins were moved to a regulated custodian or exchange, where the court could compe

Bhutan has already transferred $237 million worth of Bitcoin this year, with an additional 90 coins recently moved to a Segwit address.

May 25th. Per Arkham Analytics, Bhutan recently transferred 90 bitcoins (valued at roughly $7 million) to a Segwit address — a move that could signal either a transfer to another entity or preparations for a sale. Year-to-date, Bhutan has shifted a total of $2.3739 billion worth of bitcoins from its wallet to Segwit addresses. As of now, the country still holds approximately $2.3318 billion worth of bitcoin.

The US Bitcoin ETF has seen net outflows for 6 consecutive days, and the year-to-date net inflows for 2026 have narrowed to $536 million.

May 25 — U.S. Bitcoin spot ETFs have seen six straight trading days of net outflows totaling $1.55 billion, per official data as of May 24. Last Friday alone recorded a single-day net outflow of $105.2 million: BlackRock’s IBIT accounted for $68.9 million of that drop, while Fidelity’s FBTC saw an outflow of $36.3 million. This brings the 2026 cumulative net inflow for Bitcoin ETFs down to $536 million, approaching the annual net outflow threshold. On the market front: Institutional market maker Jane Street cut its Bitcoin ETF holdings by roughly 70% in the first quarter, and Goldman Sachs trimmed its stake by 10%. There are bright spots too: IBIT has notched $2.7 billion in net inflows year-to-date, though that’s far below 2025’s full-year level of $25 billion. Morgan Stanley’s Bitcoin Trust ETF (MSBT), launched on April 8, has pulled in $264 million in net inflows — surpassing products from Invesco and WisdomTree. In other crypto ETF news: U.S. Ethereum spot ETFs have posted net ou

Bitcoin has seen significant net inflows on the Binance platform for almost 10 consecutive days

May 25 — Crypto analyst Darkfost (@Darkfost_Coc) noted in a recent social media post that Binance’s Bitcoin (BTC) inflows have skyrocketed over the past 10 days. Data shows that since May 16, the average weekly BTC inflow to Binance stood at 378 coins; as of today, that figure has surged to 1,190 coins — more than tripling in just two weeks. Notably, on May 18 alone, daily BTC inflows topped 3,600 coins, hitting a high mark in Darkfost’s analysis. Additionally, Binance’s BTC reserves have bounced back from their April 24 low of 616,000 coins to today’s 632,000 coins, a 16,000-coin increase over the past month. Market participants widely interpret net inflows to major exchanges like Binance as a potential sell signal: users transferring BTC to trading platforms are most often doing so to offload holdings, reduce positions, or execute defensive asset reallocations. Against this backdrop, Bitcoin’s price has fallen by as much as 6.2% during the period. The current market remains in a p

Bitcoin Demand Hits Lowest Level This Year

May 25 — According to analyst Darkfost, Bitcoin’s current apparent demand has dropped to its lowest point since 2026, with a 30-day total coming in at nearly -147,000 BTC. The last time a similarly extreme value was recorded was back in December 2025. Darkfost notes this data signals Bitcoin’s spot demand is continuing to gradually shrink, adding that a rebound driven solely by the futures market is hardly sustainable. For reference, apparent demand is calculated by subtracting newly issued BTC from the supply that’s remained untouched for over a year.

A certain Satoshi-era miner transferred 2,650 Bitcoins to a liquidity provider.

On May 25, monitoring by Onchain Lens indicates a Satoshi-era Bitcoin miner transferred 2,650 BTC to OTC desks FalconX and Cumberland, with the transaction totaling roughly $203 million. The whale still holds 6,000 BTC.

「Nuclear」 or 「Peaceful」? The Iran-US Agreement Suspense Revives, Strong Currency Seizes the Opportunity to Shake Out Weak Hands, While Bitcoin Continues to Weaken

May 25. Over the past 24 hours, the U.S.-Iran nuclear deal has shifted from a "framework agreement" to "not finalized," reigniting market uncertainty. Sources close to the negotiations indicate the core sticking point remains Iran’s nuclear program: Iran is seeking a verbal commitment while retaining its uranium stockpiles, while the U.S. is demanding concrete implementation details and a clear timeline for handling enriched uranium. Though most issues are seemingly resolvable, the two sides still hold significant gaps on fundamental terms. Intensified negotiation tensions, or even a return to broader geopolitical strains, are foreseeable in the coming days. On the market front, traditional investors remain bullish on the U.S.-Iran outlook. Crude oil opened sharply lower, while all three major U.S. stock index futures rose at the open: Nasdaq 100 futures up 1%, S&P 500 futures up 0.65%, and Dow Jones futures up 0.54%. In the crypto market, Bitcoin has been relatively weak, hovering

Report: Bitcoin Collateralized Lending Market Could Reach $1 Trillion in Next 10 Years

May 24th – Cryptocurrency lending platform Ledn released a report projecting that the Bitcoin-collateralized lending market could grow from its current $3 billion to $1 trillion over the next 10 years. The report draws on a survey of 1,244 cryptocurrency holders in the U.S. and Australia, where 88% of respondents expressed willingness to use their cryptocurrency as collateral for loans or credit products, yet only 14% currently do so. Ledn noted this shows a “6:1 gap between willingness and adoption” in the market. The report emphasized that the industry’s biggest challenge is not lack of demand, but trust-related issues. Users’ top concerns include cryptocurrency price volatility, liquidation risks, and regulatory uncertainty. Additionally, factors such as platform reputation, asset custody security, loan term transparency, and risk management capabilities are considered more important than interest rates themselves.

Michael Saylor: Bought Bonds This Week, Not Bitcoin

May 24, Michael Saylor posted: "This week, we bought bonds, not Bitcoin. The 'Bitcoin vacuum cleaner' BitVac is recharging."

Analyst: Bitcoin Could Reignite FOMO in Options Market if Price Surpasses $80,000

On May 24th, Adam, an analyst with Greek.live, took to social media to state that Bitcoin (BTC) staged a V-shaped rebound over the weekend, driven primarily by developments related to U.S.-Iran tensions. He noted that the crypto may still see some additional upside momentum following the opening of the U.S. stock market. From the BTC options standpoint, gamma constraints have weakened after this week’s option expiry. The $78,500 level remains the key pain point and a critical battleground between bulls and bears. If BTC can hold the $77,000–$78,000 range, it will likely maintain a sideways-to-slightly-bullish trend. A high-volume breakout above $80,000 would likely see call options drive the market higher once again. Current short-term implied volatility (IV) remains low, despite strong market volatility expectations. To control costs, strategies like call spreads, put spreads, or waiting to add positions after BTC breaks above $80,000 or falls below $77,000 are more appropriate.

Polymarket Prediction: Probability of "Bitcoin Reaching $100,000 This Year" Drops to 37%

May 24: The probability of Polymarket’s prediction that Bitcoin will hit $100,000 this year has fallen to 37%, down from 49% on May 10. Separately, the current odds that BTC will rise to $90,000 this year stand at 59%, while the chance it will drop to $50,000 is 41%.

Analyst: Bitcoin Has Lost Structural Bullish Momentum, Market in Risk-Off Mode

May 24: CryptoQuant analyst Axel Adler Jr. highlighted that Bitcoin has recently lost its structural bullish momentum, with the current market shifting toward a "risk-off" stage. He pointed out that BTC’s structural bullish momentum typically fades when the macro environment deteriorates rapidly—a major warning sign. Until the "Impulse" indicator climbs back above the zero line, all current BTC rebounds remain unconfirmed. Right now, macro factors are dominating the market: the U.S. Dollar Index (DXY), 10-year Treasury yields, and the VIX volatility index are leading the charge. Adler noted that when the macro environment enters this "dominant mode," even relatively strong on-chain data can underperform temporarily. Additionally, data from the U.S. spot Bitcoin ETF dashboard shows 30-day fund flow momentum for these ETFs is at $362.8 million, a massive drop from the $13.21 billion peak set back in December 2024. Traders should keep a close watch on the Coinbase Premium Index—it’s sti

Bitcoin Breaks $77,000

May 24 update: Per HTX market data, Bitcoin has surged past the $77,000 mark, notching a 24-hour price gain of 3.13%.

El Salvador Continues to DCA into Bitcoin: Accumulated an Additional 8 BTC in the Past 7 Days, Increasing Total Holdings to 7,661.37 BTC

May 24 — El Salvador added 8 Bitcoins over the past week, pushing its total holdings to 7,661.37 BTC, with a combined value of over $588 million, per data from its Ministry of Finance.

Trader Evaded Margin Call by Force Liquidating Bitcoin Short, Loses $320,000

May 24 — According to monitoring from on-chain analytics platform LookOnChain, trader Evaded (@ICanPlug) locked in a $320,000 loss when closing a Bitcoin short position. The trader still maintains a long position of 53,500 ZEC, currently valued at $34 million, and is carrying an unrealized loss of $763,000.

Trump Calls US-Iran Agreement 'Basically Done,' White House Reports Gunfire Again, Oil Price Plunges, Bitcoin Sees V-Shaped Recovery

May 24. Even on the weekend, a flurry of overnight and early-morning news has roiled markets: Trump announced the U.S.-Iran deal is "basically agreed." The New York Times reported Iran has signed onto a memorandum of understanding (MOU) including halting all fighting on fronts like Lebanon, reopening the Strait of Hormuz, lifting the U.S. naval blockade, allowing unimpeded commercial traffic, and releasing $250 billion in frozen Iranian assets. Nuclear-related issues will be negotiated over the next 30 to 60 days. Notably, the deal isn’t just one-sidedly optimistic from the U.S. side—Iran also expressed full optimism about the talks last night, making the agreement more credible. Just hours after that news, the White House was hit by a shooting, prompting a lockdown. The suspect died at a hospital. Crude oil plummeted rapidly as a result: Bitget data shows Brent crude fell from $102 to $94.2. Bitcoin, meanwhile, staged a V-shaped rebound after bottoming above $74,000. It’s now trad

Bitcoin ETF Faces 'Redemption Pressure': $1.26 Billion Withdrawn in a Single Week, Ethereum ETF Sees Outflows for 10 Consecutive Days

US Spot Bitcoin ETFs posted a weekly net outflow of roughly $1.26 billion in the week ending May 23, marking their largest weekly pullback since late January and six consecutive trading days of net redemptions. Data shows $649 million flowed out just on Monday, with outflows moderating in subsequent days but remaining consistent overall. Market participants pointed to three key drivers: rising U.S. Treasury yields, a stronger U.S. dollar, and geopolitical tensions. U.S. Spot Ethereum ETFs also faced pressure this week, logging 10 straight days of net outflows—their longest stretch since March 2025—for a total weekly outflow of approximately $216 million. BlackRock’s iShares Bitcoin Trust (IBIT) manages about $61.1 billion in assets, though this figure trails the fund’s cumulative inflows of roughly $3.7 billion, signaling recent market price volatility has impacted its holding value. As of the close of ETF trading for the period, Bitcoin traded around $77,500 and Ethereum at approx

Coinbase Bitcoin Premium Index Records Negative Value for 8 Consecutive Days, US Market Buying Power Weakens

As of May 23rd, Coinglass data shows that Coinbase’s Bitcoin Premium Index has been in negative territory for 8 consecutive days, currently standing at -0.1197%. This trend is linked to ongoing outflows from Bitcoin spot ETFs and weak purchasing power in the U.S. market. For context, the Coinbase Bitcoin Premium Index tracks the difference between Bitcoin’s price on Coinbase and the global average Bitcoin price. A negative premium typically signals significant selling pressure in the U.S. market, declining investor risk appetite, a rise in market hedging sentiment, or broader capital outflows.

The Fuzhou Prosecutor's Office in China has filed a public prosecution against a case of stealing Bitcoin for illegal gains. The defendant was sentenced to twelve years and seven months in prison.

May 23 — The People’s Procuratorate of Cangshan District in Fuzhou, Fujian Province, China, has filed a public prosecution in a Bitcoin theft and illegal profit case. The incident began in late 2020, when Wang entrusted Lin to cash out his Bitcoin holdings, agreeing to pay Lin a commission upon successful completion. But Lin, driven by greed and the mindset that virtual assets are hard to trace, devised a scheme to steal from Wang. With access to Wang’s Bitcoin wallet hard drive and laptop, Lin stole the wallet’s private key and related data, transferring four Bitcoins to his own account and netting roughly 900,000 yuan in illegal gains. Wang only discovered his missing Bitcoin in 2024 while reviewing his assets and immediately filed a police report. Prosecutors with Cangshan District explained that though Bitcoin does not hold the legal status of fiat currency, and financial institutions and non-bank payment providers are prohibited from offering services for cryptocurrency-related a

Cryptocurrency Market Experiences Sharp Decline, Bitcoin Falls to $74,500, Ethereum Tests $2,007

On May 23rd, data from the HTX exchange shows the crypto market has seen a sharp short-term pullback. Bitcoin dropped below $75,000 to a low of $74,500, posting a 3.7% decrease over the past 24 hours. Ethereum slumped to a low of $2,007 and is currently trading at $2,026, marking a 4.8% decline in the same 24-hour period. Coinglass figures indicate that total liquidated positions across the entire crypto network surged to $377 million in the last hour.

Bitcoin Falls Below $75,000, 24-hour Loss of 3.1%

On May 23rd, Bitcoin slipped below the $75,000 mark, per HTX’s market data, notching a 3.1% decrease in value over the preceding 24 hours.

Analysis: $1.26 Billion Bitcoin ETF Outflow Could Be a 'Contrarian Buy Signal'

May 23: Crypto analytics platform Santiment reported that the U.S. Bitcoin spot ETF has logged a roughly $1.26 billion net outflow over the past six trading days—a move Santiment says could paradoxically serve as a "reverse buy signal" for Bitcoin. The firm notes that ETF fund flows here track retail investor sentiment more closely than shifts in positions held by "smart money" players. In May, some retail investors grew frustrated after Bitcoin couldn’t hold above the $80,000 threshold; currently, BTC trades around $75,400, down from its May 16 peak of about $79,000. Santiment adds that historically, sustained ETF outflows often correspond to a phase "well-suited for patient accumulation" rather than widespread market panic. This view clashes with the mainstream market narrative, though. Most analysts contend that continuous outflows from U.S. Bitcoin spot ETFs typically point to weakening sentiment and potential further price downside. On another front, Bloomberg ETF analyst

Yesterday, the US Spot Bitcoin ETF experienced a net outflow of $105.2 million, marking the sixth consecutive day of net outflows.

May 23: Data from Farside shows the U.S. spot Bitcoin ETF posted a net outflow of $105.2 million yesterday, marking the sixth consecutive day of net outflows.

Michael Saylor: Strategy Does Not Rule Out Possibility of Selling Some Bitcoin in 2026

On May 23, Michael Saylor, chairman of MicroStrategy, told reporters in a recent interview that the company is “unlikely to fully halt all Bitcoin sales” and signaled it may offload some BTC by the end of 2026 — a notable shift from its longstanding “never sell” stance on the cryptocurrency. Saylor added that the firm may look to sell off some Bitcoin, equities, and debt securities down the line, while proactively managing its U.S. dollar cash reserves. The company’s top priority, he emphasized, remains hitting its long-term target: maximizing Bitcoin holdings per share by 2033. Per latest figures, MicroStrategy currently holds roughly 843,800 BTC, worth around $65 billion total, with an average cost basis of roughly $75,700 per coin. Bitcoin’s current price sits at around $75,958 — almost exactly matching its average purchase cost. Market watchers caution that if MicroStrategy cuts its BTC stake materially for the first time ever, it could rattle investor sentiment that has long se

The SEC Approves Nasdaq to List Bitcoin Price Index Options, Wall Street Further Embraces Crypto Assets

On May 23rd, Bloomberg reports that the U.S. Securities and Exchange Commission (SEC) has given Nasdaq the go-ahead to launch a Bitcoin price-based index options product. The new offering will provide U.S. stock market traders with an additional tool to gain Bitcoin exposure, separate from existing spot Bitcoin ETF options. Moving forward, investors can trade Bitcoin index options to speculate on or hedge against BTC price risks without needing to hold underlying spot assets or ETFs directly. Market watchers note this approval further underscores the accelerating convergence between traditional financial markets and the crypto asset ecosystem. Previously, products like BlackRock’s iShares Bitcoin Trust (IBIT) — which includes spot Bitcoin ETF options — were already seeing widespread trading activity among investors.

Analysis: SpaceX IPO Could Expand Nasdaq's Bitcoin Exposure, But May Create Short-Term Selling Pressure on Tech Stocks and Bitcoin Funds

May 22. Analyst Yashu Gola reported that SpaceX is targeting a June initial public offering (IPO) valued at $75 billion. If its post-listing valuation ranges between $17.5 trillion and $20 trillion, SpaceX could be added to the Nasdaq 100 Index within 15 trading days under the index’s "Fast Entry" rule, an expansion that would increase the benchmark’s exposure to Bitcoin. According to SpaceX’s latest S-1 filing, the aerospace and space transport firm holds 18,712 Bitcoin (BTC) tokens, worth approximately $1.45 billion. When combined with Tesla’s 11,509 BTC holdings, Musk’s two major companies would become top Bitcoin holders among Nasdaq 100 constituents. Phong Le, CEO of Strategy, stated: "With SpaceX’s IPO, the Magnificent Seven will become the Magnificent Eight, with 25% of the index’s corporate balance sheets holding Bitcoin." However, analyst Nic Puckrin contends the SpaceX IPO could be "bad news" for tech stocks: once SpaceX is included in the Nasdaq 100, passive funds will be f

Michael Saylor: Bitcoin Entering 'Spring' Warming Phase, Market Set for Rebound

On May 22, MicroStrategy founder Michael Saylor told CNBC during an interview that Bitcoin had dropped from a high of roughly $125,000 to around $60,000, where it found solid support, and is now entering a "spring" warm-up phase. Saylor noted the current price level has strong backing and anticipates the market will rebound from this point. Meanwhile, he highlighted that as the digital credit market takes shape, additional Bitcoin supply from miners is being fully absorbed by the market. He stated: "Our company may purchase all bitcoins produced by miners from now through the year 2140." Furthermore, Saylor cited advancement of the U.S. "CLARITY Act" and the SEC's "innovation exemption" policy for security tokenization as two major positives for the digital asset market.

Bitunix Bitcoin Pizza Day Limited Time Lucky Draw Event is officially launched, with a 100% winning rate

Bitunix officially launched its Bitcoin Pizza Day limited-time lucky draw event on May 22. Here’s how it works: Users only need to register via the event page to participate, and every draw comes with a 100% win rate—no empty attempts here! The event runs through May 22 to May 26 (UTC+0). During the event window, you can earn extra draw opportunities by completing simple tasks: net deposits, contract trading, or subscribing to wealth management products. The maximum number of draws any user can get is 20. Prizes include both physical pizzas and USDT rewards, and if you’d rather have crypto instead of pizza, you can swap any physical prize for an equal amount of USDT. To mark Bitcoin Pizza Day, Bitunix is also inviting users to explore the platform’s professional trading tools, which serve as a one-stop hub for trading cryptocurrencies, stocks, and commodities. Through these diverse activities, Bitunix keeps rewarding its global community of users within its ecosystem with fun per

Analysis: Bitcoin Derivatives Market Ends 8-Month Deleveraging Cycle, Binance's Open Interest Returns Above the 180-Day Moving Average

May 22. Analyst Darkfost (@Darkfost_Coc) shared on social media that Bitcoin has been stuck in a prolonged deleveraging phase in its derivatives market since events unfolded last October 10. Historically, when open interest drops below the 180-day moving average, it signals a slump in futures activity—driven by investors cutting risk exposure, which pushes open interest lower. Pressured by worsening global macroeconomic conditions and geopolitical uncertainty, traders broadly opted to trim their risky positions. On crypto exchange Binance, this deleveraging stretch lasted roughly 8 months; the last comparable period was during the 2022 bear market, right before FTX’s collapse. That said, the trend shifted as of early May. Binance’s Bitcoin open interest climbed from around $6.4 billion in March to roughly $8.96 billion currently, reclaiming its ~$8.75 billion 180-day moving average. This marks the official end of the deleveraging cycle. The return of investors to Bitcoin’s derivatives

Analysis: Bitcoin Long-Term Holders' Balance Reaches Over 16.3 Million BTC, Nearing All-Time High

May 22 – Senior Analyst James Van Straten (@btcjvs) cited Checkonchain data in a social media post, indicating that since the launch of Bitcoin ETFs, Bitcoin’s long-term holder supply has surpassed 16.3 million coins, nearing an all-time high.

Analysis: Currently, approximately 6.04 million bitcoins are exposed to "quantum risk."

May 22nd: Analyst Murphy (@Murphychen888) noted on social media that "Static Quantum Exposure" refers to Bitcoin public keys recorded on the blockchain, which a future, sufficiently powerful quantum computer could theoretically reverse-engineer using Shor’s algorithm to derive the corresponding private keys for circulating Bitcoin. According to Glassnode data, roughly 6.04 million Bitcoin are currently in this quantum risk-exposed state, split into two categories: - **Structural Exposure**: Totaling around 1.92 million Bitcoin. This risk stems primarily from script designs like P2PK, bare multisig, Taproot, etc., which directly expose public keys during transactions. Notably, Bitcoin mined in Satoshi’s era are hardest to secure and migrate due to their unique address formats and script structures. - **Operational Exposure**: On a larger scale, accounting for roughly 4.12 million Bitcoin. This risk comes from address reuse—users repeatedly reusing the same Bitcoin address for sen

Analyst: $1.6 Billion Bitcoin Options Expiring Today, Low Volatility Expected

May 22: Per data from Greeks.live, a total of 21,000 Bitcoin (BTC) options expired today. The put-call ratio for these contracts hit 0.66, with a maximum pain point of $78,500 and a notional value of $1.6 billion. On the Ethereum (ETH) side, 129,000 ETH options are also set to expire today, carrying a put-call ratio of 0.92, a maximum pain point of $2,200, and a notional value of $2.8 billion. Adam, an analyst at Greeks.live, noted that Bitcoin wrapped up a month-and-a-half-long rebound this week, though on-chain support for the asset remains strong. The broader market has stayed relatively quiet with low investor attention so far this period. Notably, less than 5% of both BTC and ETH options are expiring this week—delivery volumes are light on both fronts. For BTC, the small delivery volume paired with the maximum pain point being close to the current price means the gamma/pin effect will be more pronounced around expiry. ETH, meanwhile, is seeing half the delivery volume it had las

Yesterday, the United States saw a net outflow of $100.9 million from the Bitcoin spot ETF and a net outflow of $32.6 million from the Ethereum ETF.

Per Farside monitoring data, on May 21st (the day before this May 22nd update), the U.S. Bitcoin spot ETF posted a net outflow of $101.9 million, while the U.S. Ethereum spot ETF recorded a net outflow of $32.6 million.