Bitcoin’s sluggish trend has not ended yet; as of May 29, it is temporarily around $73,750. Crypto trading firm FalconX has filed an IPO application with the U.S. SEC, taking an important step toward a potential listing. Crypto exchange Gemini has launched a Grok-powered AI data source Command Center, which can deliver real-time insights, signals, summaries, and forecasts based on users’ preferences.
Macro Events & Crypto Market Hotspots
1、According to The Block, crypto trading firm FalconX has secretly submitted a draft S-1 registration statement to the U.S. Securities and Exchange Commission, which is the first step toward a potential listing. Insiders say FalconX has hired Wall Street giant Cantor and other banks as its IPO advisors. Due to market conditions’ volatility, the company’s IPO is not expected to be completed before year-end.
FalconX was founded in 2018 and mainly provides digital-asset block brokerage services to institutional clients such as hedge funds, asset management companies, and market makers. In 2022, it completed a $150 million Series D round at an $8 billion valuation.
2、According to The Block, crypto exchange Gemini has launched a Grok-powered AI data source Command Center, which can provide real-time insights, signals, summaries, and forecasts based on users’ preferences. The service was built in collaboration with SpaceXAI, part of Elon Musk’s organization, and is integrated into Gemini’s prediction markets, supported by xAI’s Grok large language model.
Gemini previously rolled out Agentic Trading, allowing users to grant trading accounts to models such as Claude and ChatGPT. Gemini is expanding from spot crypto trading into derivatives, prediction markets, and other financial services.
News Updates
1、Sui: the mainnet has resumed operation; it was previously halted due to a Version 1.72 Gas fee logic collapse vulnerability
2、Standard Chartered Bank reiterates its target price of $4,000 for ETH by year-end and $40,000 in April 2030
3、The perpetual contract SPACEX-USDH on Hyperliquid saw a flash crash of 45% last night
4、Bitwise: As HYPE ETF demand grows, Hyperliquid may drive the development of future finance
5、Crypto trading firm FalconX has filed an IPO application with the U.S. SEC
6、Insiders say Iran has not agreed to any memorandum of understanding
7、Anthropic completes a $65 billion Series H round; post-investment valuation reaches $965 billion
8、CryptoQuant: Bitcoin’s large-holding addresses have accumulated stalled activity, with demand remaining weak
9、Grayscale is in talks for an approximately $115 million “seed” investment in the HYPE token for the Hyperliquid ETF
Market Performance
1、Latest news on Bitcoin: <a data-currency='BTC' href='/futures/USDT/BTC_USDT'>$BTC The sluggish trend is not over; it is temporarily around $73,750. In the past 24 hours, $288 million was liquidated, with longs being the major side;
2、All three major U.S. stock indexes hit new closing highs again on May 28. Reports on the U.S.-Iran ceasefire agreement draft extending for 60 days boosted the market, and inflation data coming in below expectations also provided support. However, repeated uncertainty over U.S.-Iran negotiations still makes investors tense. The Dow Jones Industrial Average rose 24.69 points, up 0.05%, closing at 50,668.97. The S&P 500 rose 43.27 points, up 0.6%, closing at 7,563.63, advancing for six straight trading days. The Nasdaq rose 242.74 points, up 0.9%, closing at 26,917.47. The S&P 500 is now heading toward a ninth consecutive week of gains; such a streak of consecutive weeks has only appeared four times since 1985.
（Source: Gate）
3、In the Gate BTC/USDT liquidation map, using the current 73,718.10 USDT as the reference: if it drops to around $72,468, the cumulative long-liquidation amount will exceed $199 million. If it rises to around $73,901, the cumulative short-liquidation amount will exceed $134 million. The amount liquidated on the short side is lower than that on the long side; it is recommended to manage leverage reasonably and avoid triggering large-scale liquidations when market conditions change.
（Source: Coinglass）
4、Within the past 24 hours, BTC spot inflows were $2.76 billion, outflows were $2.75 billion, for net inflows of $100 million.
（Source: Coinglass）
5、Within the past 24 hours, net outflows led for contract trading of $ZEC, $XLM, $UB, $ALLO, $SNDK , etc., presenting trading opportunities.
Selected Views from X KOLs
Phyrex Ni（@Phyrex_Ni）：「By Friday, the war between the U.S. and Iran has already lasted 90 days. During this time, at least three times the U.S. said a ceasefire agreement was close to being reached, but it kept being delayed. Judging from the information coming out today, insiders imply that the progress of a complete ceasefire agreement is approaching the point of being reached—people inside and outside the White House say it is about 95%. Of course, even if it is 99%, before signing, there is still a possibility of unexpected developments. Now we just wait for both sides’ leaders to sign.」
「Also, the Iranian president reiterated his recent assurances, saying Iran is not seeking to produce nuclear weapons. That means there may be new progress in the most troublesome uranium enrichment deal between the U.S. and Iran. In fact, these aren’t very interesting to ordinary investors; the only thing everyone can look forward to is when the Strait of Hormuz can be fully opened.」
「Because once it is opened, it would mean the U.S. can move out of current high-inflation and recession expectations, and the Federal Reserve would not have to worry about using interest-rate hikes as a weapon. That would be a very good piece of news for the AI that is still booming. As for crypto, it would be a shot in the arm. Right now, it’s still the best time to short WTI.」
「Going back to Bitcoin data: although $BTC ’s price recently isn’t satisfactory and many friends think Bitcoin will most likely return to a range starting with 4 or 5, BTC’s trend is still closely tied to U.S. macro conditions, politics, and the economy. Unless the U.S. is still stuck in some trouble, after the negotiations between the U.S. and Iran end, BTC is very likely to see a small rebound.」
「Of course, BTC’s key issue is still lack of liquidity, and it doesn’t have a strong narrative like AI, so compared with tech stocks the gap is widening. But BTC’s biggest advantage is that more holders are turning into long-term holders, and high-net-worth holders are increasing too.」
Today’s Outlook
1、France May preliminary consumer price index (month-on-month); previous value 1.0%
2、France first-quarter GDP final estimate (quarter-on-quarter); previous value 0.0%
3、Germany May seasonally adjusted unemployment rate (official); previous value 6.4%
4、Canada first-quarter GDP (annualized quarter-on-quarter); previous value -0.6%
5、Canada March GDP (month-on-month); previous value 0.2%
6、Speech by Bank of England Governor Bailey
7、Speech by Kansas City Fed Chair Schmidtt
8、Speech by Fed Governor Powell
