RunningFinance

Ethereum’s market share has fallen to a two-year low, sending signals of structural weakness in the market
On May 25, according to BIT graphic analysis, during the 2020-2021 bull market, Ethereum’s market cap share once approached 18%, and the market broadly expected smart contract platforms to reshape parts of the traditional financial system’s infrastructure and business processes.
However, the market’s high expectations have not been able to translate into a real competitive advantage for ETH. Over the past two years, its market cap share within the digital asset ecosystem has continued to

On the Eve of the IPO: SpaceX First Discloses Bitcoin Holdings, Ranking Seventh Globally Among Corporate Holders
According to the initial S-1 registration statement filed by SpaceX with the SEC, the company holds 18,712 Bitcoins, with an average purchase cost of about $35,324 and a total value of about $661 million.
As of the end of March this year, the fair value of the Bitcoins held by SpaceX was $1.293 billion, with unrealized gains of nearly 119%.
This disclosure places SpaceX as the seventh-largest corporate Bitcoin holder globally, surpassing its sister company Tesla (which holds 11,509

Expectations for a US-Iran agreement heat up; crude oil plunges by more than 5% as risk assets strengthen
On May 25, global financial markets saw clear shifts, driven by optimistic expectations regarding a US-Iran agreement. The market is upbeat that an agreement to restart the Strait of Hormuz shipping route and resume crude oil transport is close at hand, which has also supported a rebound in risk-asset preference.
Under the influence of these expectations, a series of notable changes emerged in financial markets. In early Asian trading, WTI crude oil prices fell sharply, dropping by more th

Analyst Warning: Bitcoin Loses Structural Upward Momentum, Market Enters Risk Aversion Mode
According to a latest report by CryptoQuant analyst Axel Adler Jr, amid a sharp deterioration in the macro environment, Bitcoin’s structural bullish momentum has disappeared, and the market has officially entered a risk aversion mode.
This loss of momentum aligns closely with the timing of the macro environment worsening, meaning that any current rebound in Bitcoin lacks effective support and confirmation. Only if momentum indicators return to positive territory can the market truly stabilize.
In the sa

BTC and ETH spot ETFs continue to experience net outflows, with a total outflow of $1.48B this week.
On May 24, according to SosoValue data, the US BTC spot ETF recorded nearly $1.26 billion in net outflows this week, marking two consecutive weeks of total net outflows;
Among them, BlackRock IBIT, Fidelity FBTC, and ARK 21Shares ARKB, with $1.01 billion, nearly $112 million, and $107 million respectively, ranked as the top three in net outflows this week;
Next are Bitwise BITB, VanEck HODL, Franklin EZBC, Invesco BTCO, and Valkyrie BRRR, with weekly net outflows of $9.16 million, $7.59 million

Next Week Outlook: US-Iran Ceasefire Negotiations Enter Critical Window, Persistent Inflation May Influence Powell's Rate Policy
This week, financial markets moved like a roller coaster, experiencing sharp reversals. Initially, concerns about inflation and tightening fears surged due to the US rejection of Iran's peace proposal and Powell's confirmation as Federal Reserve Chair;
However, as the weekend approached, with breakthrough progress in US-Iran ceasefire negotiations, global bond markets, equities, and precious metals risk appetite appeared to ease.
According to a post from Trump, the U

Tiger International Urgently Denies Rumors: "Refusal to Cooperate with Regulators" Is False, Overseas Business Steadily Growing, Actively Promoting Compliance Rectification
According to Caixin News on May 23, Tiger International issued a statement, firmly clarifying the recent false claims of "refusal to cooperate with regulators" and other misleading statements, stating that the so-called "refusal to cooperate with regulators" or "hardline against regulators" are seriously inconsistent with the facts.
Tiger International emphasizes that compliance is the company's lifeline for operations. Reg

The European Central Bank Rejects the Proposal to Issue More Euro Stablecoins, With Risk Considerations or Concerns Over Key Issues
According to Reuters on May 23, three informed sources said that on Friday the European Central Bank warned EU finance ministers that proposals to issue more euro stablecoins could reduce bank lending and make it more difficult to control interest rates.
This warning traces back to a report prepared for top EU financial policy makers by the Brussels-based economic think tank Bruegel. The report calls for easing liquidity requirements for cryptocurrency issuers and

BTC and ETH spot ETFs continued to record net outflows on Friday, with BlackRock’s products leading the outflow
On May 23, according to the latest data from SoSovalue, US BTC spot ETFs recorded a total net outflow of $105 million yesterday, marking 6 consecutive days of net outflows; and there was no net inflow into any BTC ETF yesterday.
Among them, BlackRock’s IBIT saw the largest net outflow yesterday at $68.89 million (906.55 BTC). As of now, IBIT has recorded cumulative total net inflows of $64.77 billion.
Next is Fidelity’s FBTC, which recorded a net outflow of $36.29 million (477.54 BTC

Is Strategy going to sell coins? Michael Saylor hints for the first time: It's not impossible this year
Recently, Strategy (formerly MicroStrategy) Chairman Michael Saylor explicitly stated that the company might sell some Bitcoin in 2026, marking a softening of his long-held stance of "never selling" in recent times.
Saylor said in an interview that the company plans to sell some Bitcoin before the end of this year. He explained that the company's ultimate goal is to maximize Bitcoin holdings per share by 2033, and all current decisions, including potential sales, are aimed at optimizing this

Breaking News! The China Securities Regulatory Commission plans to confiscate all illegal gains of entities related to Tiger, Futu, and Changqiao
On May 22, the latest news, the China Securities Regulatory Commission announced plans to impose strict penalties on three brokerages: Tiger Securities, Futu Holdings, and Changqiao Securities, confiscating all illegal gains of relevant domestic and overseas entities.
Following this news, the stock prices of the related brokerages in the U.S. stock market plummeted before the market opened. As of 16:41 Beijing time, Tiger Securities dropped over 44%

Over $1.8 billion in BTC and ETH options expire today, as the new Federal Reserve Chair is sworn in tonight
According to Deribit data, by 4:00 PM today, nearly 20.4k Bitcoin option contracts (nominal value of about $20.4k) are set to expire;
At the same time, Deribit exchange also has nearly 129.4k Ethereum option contracts (nominal value of $275 million) expiring.
As of now, the total open interest in Bitcoin options is 20,396 contracts, with a call/put ratio of 0.64, and the maximum pain point at $78,500, slightly above the current spot market trading price, indicating traders' short-term bu

BTC and ETH spot ETFs saw a total outflow of $133 million on Thursday, with products under BlackRock leading the net outflows.
On May 22, according to SoSovalue's latest data, the US BTC spot ETF recorded a continuous fifth day of net fund outflows, totaling nearly $101 million yesterday;
Among them, BlackRock's IBIT had the largest net outflow yesterday, at nearly $104 million (equivalent to about 1,340 BTC), with IBIT's total net inflow reaching $64.84 billion so far;
Meanwhile, Ark & 21Shares' ARKB was the only BTC ETF to see a net inflow yesterday, at $2.83 million (36.49 BTC), with ARKB's

Ethereum Falls into a "Silent Crisis": Market Cap Lost Over Half in Nine Months, Lacking Support from Dip Buyers
According to on-chain analysis firm Easy On Chain data, Ethereum's market cap has fallen from approximately $585 billion in August 2025 to about $255 billion this month, a decline of over 55%, entering a mid- to long-term bear market phase.
The report points out that the most obvious downward warning signal is the decline in institutional participation in the current market. Specifically, the fund holdings of Ethereum have decreased from over 7 million coins in October 2025 to the c

U.S. Lawmakers Propose ARMA Legislation: Promoting a “Strategic Bitcoin Reserve” to Seal Digital Assets for at Least 20 Years
According to Bitcoin News, U.S. Representative Nick Begich, together with 16 initial co-sponsors, jointly introduced the “American Reserve Modernization Act” (ARMA), which has also been compared by outsiders to a “digital Knox of Bitcoin.”
In the real world, Knox is a highly secure facility of the U.S. federal government for storing gold reserves, symbolizing “safe, long-term sealed official reserves.”
The core goal of the ARMA bill is to establish a strategic Bitcoin r

Vance Responds to Trump Stock Trading Controversy: Outsourcing Wealth Management, Not Personally Trading
At a White House press briefing on Tuesday, U.S. Vice President JD Vance defended President Trump’s stock trading behavior, emphasizing that Trump’s investments are fully managed by third-party financial institutions and not personally operated by him.
According to a report from the Office of Government Ethics, Trump’s accounts made approximately 3,700 stock trades in the first quarter, including purchases of stocks from Palantir, Dell, and Micron.
However, these companies were subsequently

Chainalysis Report: Criminals Are Using Emerging Digital Assets to Evade Taxation
According to the latest report from blockchain analytics platform Chainalysis, criminals are using emerging digital technologies such as Bitcoin Ordinals and BRC-20 tokens to conceal wealth in an attempt to evade tracking by tax authorities.
The Ordinals protocol was launched in 2023, assigning sequence numbers to the smallest unit of Bitcoin, “satoshis,” and allowing data such as images or text to be embedded in Bitcoin transactions. The BRC-20 standard is built on top of this, supporting the deployment, minting