Bitcoin (BTC) rebounded from the weekend low, temporarily around $77,240 as of May 25. A New York Times investigation found that U.S. Commodity Futures Trading Commission (CFTC) officials who questioned the prediction market were suspended and sidelined. Bitmine increased its holdings of Ethereum to a total of 5.3 million ETH, and revealed it has been added to the Russell 1000 index candidate list.
Macroeconomic Events & Crypto Hot Spots
1、According to a CoinTelegraph report citing a New York Times investigation, senior U.S. Commodity Futures Trading Commission (CFTC) officials who had raised questions about Polymarket, Crypto.com, and Gemini were suspended and sidelined. The report says that if CFTC senior officials questioned prediction market companies, they would be suspended, investigated, and ultimately removed from the agency.
These three companies were all accused of having business ties to U.S. President Donald Trump’s family. Professional officials reportedly worried that crypto.com was not fair enough to small bettors, that Polymarket lacked sufficient anti-fraud measures, and that Gemini’s related companies had not yet completed the regulatory reviews required to operate.
2、According to CoinGape, Bitmine, led by Tom Lee, added more Ethereum (ETH) over the past 24 hours, bringing its Ethereum treasury size to over 5.3 million ETH. At the same time, the company’s chairman Tom Lee disclosed that Bitmine has been included in the Russell 1000 index candidate list.
Onchain analysis platform Onchain Lens disclosed in an X post that a wallet potentially associated with the Ethereum treasury company Bitgo withdrew 60,000 ETH from Bitgo and crypto exchanges, worth $126 million. After this withdrawal, the amount of ETH currently held by Bitgo exceeds 5.33 million ETH.
News Updates
1、MoonPay launched a dedicated app within the ChatGPT application, allowing users to buy crypto in conversation
2、Zhao Changpeng denies rumors of being swept away in Dubai
3、HYPE market cap surpasses DOGE, ranking 9th in crypto market cap
4、Arthur Hayes’ related wallet again withdrew 85,700 HYPE from an exchange, about $5.37 million
5、Trump: The U.S.-Iran agreement has “not been fully worked out” yet
6、Vitalik: The Ethereum Foundation will “scale down,” reducing the amount of ETH sold
7、U.S. senior official: Refuses to charge any transit fee through the Strait of Hormuz; no agreement will be signed today
8、The White House: An Iran peace agreement may take a few days to reach
9、U.S. officials: Iran’s supreme leader has approved the overall framework of the agreement
Market Performance
1、Bitcoin latest news: <a data-currency='BTC' href='/futures/USDT/BTC_USDT'>$BTC rebounded from the weekend low, temporarily around $77,240. In the past 24 hours, $54.25 million was liquidated, with long positions being the main force;
2、The Dow Jones Industrial Index hit a new high again on May 22, while the S&P 500 closed higher for the eighth straight week. Reports that the U.S. and Iran may reach an agreement recently caused sharp swings in oil prices and U.S. Treasuries, but investors’ optimism has not diminished. With the earnings season for companies entering its tail end, and in an environment where both inflation and bond yields rise, the U.S. stock market next may fall into turbulence. The Dow Jones Industrial Index rose nearly 300 points, closing at 50,579.70. This is the ninth time this year it has closed at a record high. The S&P 500 and the Nasdaq Composite rose 0.4% and 0.2%, respectively.
(Source: Gate)
3、In the Gate BTC/USDT liquidation map, based on the current 77,145.10 USDT, if it drops to around $75,213, the cumulative liquidation amount for long positions will exceed $470 million; if it rises to around $77,492, the cumulative liquidation amount for short positions will exceed $137 million. The liquidation amount for shorts is significantly lower than that for longs. It is recommended to manage leverage levels reasonably to avoid triggering large-scale liquidations when market conditions change.
(Source: Coinglass)
4、Over the past 24 hours, BTC spot inflows were $1.35 billion, outflows were $1.27 billion, for a net inflow of $0.8 billion.
(Source: Coinglass)
5、Over the past 24 hours, net outflows led for $BTC, $ZEC, $CL, $NEAR, $VVV , and other futures contracts, presenting trading opportunities.
Selected Views from X KOLs
Phyrex Ni (@Phyrex_Ni): “The current sentiment is a bit complicated. I’m happy that my instincts were right—the U.S. and Iran really got tangled up again. But at the low point of WTI, I cleared all my short positions. What’s frustrating is that the back-and-forth between the U.S. and Iran has already made the market feel tired. Especially, WTI’s price has already experienced three such large swings—from the temporary ceasefire on April 7 to now. The market feels like it’s being led around by the nose by the so-called ‘negotiations,’ like a headless fly.”
“But from a trend perspective, whether it’s the market or WTI itself, there is very clear confidence in the ‘talks,’ it’s just a matter of time. Although there have already been two failed experiences, the path WTI has taken from the temporary ceasefire to now is still a downward channel. Those two failed negotiations have already pushed WTI’s price down some, which is exactly what the market expects to see.”
“Monday is a U.S. holiday, so the U.S. stock market is closed, meaning Monday can also continue to ease things a bit. But when CME opens on Monday, oil prices may see some volatility. When WTI closed on Friday, it was nearly $97, and the market may reassess that price.”
“Back to the Bitcoin data: although many buddies don’t care, I still have to say that currently $BTC ’s price remains closely tied to U.S. politics, the economy, and the macro environment. On days when the U.S. stock market is closed, these three data points are Bitcoin’s best price guidance, and it shouldn’t be a ‘if it goes up then bullish, if it goes down then bearish’ mindset. What matters is focusing on these information points.”
Today’s Outlook
No major financial data
