BTC Spot ETF Experiences $846 Million Net Outflow...Largest Since 3/26
According to TraderT, the U.S. Bitcoin spot ETF experienced a net outflow of $614 million (approximately $846 billion) the previous day. This marks the second consecutive day of net outflows and the largest since March 26. Net outflows were recorded from BlackRock IBIT at $428 million, Fidelity FBTC at $13.71 million, Bitwise BITB at $35.33 million, Ark21Shares ARKB at $120 million, and Grayscale BTC at $16.22 million. Other ETFs showed no inflows or outflows.
BlackRock BTC Spot ETF Experiences $428 Million Net Outflow...Largest on Record
TraderT reported that BlackRock's Bitcoin spot ETF, IBIT, saw a net outflow of 4,113 BTC (equivalent to $428 million) on May 30 (local time), which is the largest net outflow since tracking began.
Cryptocurrency Futures Positions Liquidated for 1.26 Trillion Won in Past 24 Hours
According to CoinGlass data, approximately $914 million (about 1.26 trillion won) in futures positions were forcibly liquidated in the entire cryptocurrency market over the past 24 hours. Long position liquidations amounted to $829 million (about 90.7%), while short position liquidations were $85 million (about 9.3%).
U.S. SEC Crypto TF Leader: "TRUMP and Meme Coins Will Not Be Protected by SEC"
According to Unfolded, SEC Commissioner Hester Peirce, who also leads the SEC's cryptocurrency task force, stated that Donald Trump's official meme coin OfficialTrump (TRUMP) and other meme coins will not receive protection from the U.S. Securities and Exchange Commission.
Texas Senate Adopts Conference Report for BTC Reserve Bill
Bitcoin.org reported that the Texas Senate adopted the conference report for the Bitcoin strategic reserve bill (SB 21) with a vote of 24:7, passing the bill through both chambers. The bill now awaits the governor's signature. SB21 allows state government to invest in Bitcoin and provides a legal basis for the State Bitcoin Reserve (SBR) plan. Texas has the second-largest economy in the U.S. and would rank as the 8th largest economy globally if considered a country.
Brazilian Fintech Meliuz Plans $78.6 Million BTC Additional Purchase
Decrypt reported that Brazilian fintech company Meliuz announced a $78.6 million capital increase to purchase additional Bitcoin. Meliuz currently holds 320.25 BTC.
Meta Shareholders Reject BTC Asset Inclusion Proposal
CryptoSlate reported that the proposal to include Bitcoin as an asset was rejected at Meta's (formerly Facebook, Instagram operator) shareholders meeting. The vote showed 3.92 million votes in favor and 4.98 billion votes against. The media explained that while the proposal aimed to diversify assets to hedge against inflation and join the cryptocurrency adoption trend, shareholders were concerned about stability and regulatory risks.
Nasdaq-Listed Mega Matrix to Include BTC and ETH in Reserve Assets
Nasdaq-listed blockchain infrastructure development company Mega Matrix (ticker MPU) announced that its board has approved incorporating Bitcoin and Ethereum (ETH) as financial reserve assets. They are also considering actual BTC and ETH purchases in the future.
SharpLink Gaming Applies to SEC for $1 Billion Securities Issuance for 'ETH Reserve'
U-Blockchain reported that Nasdaq-listed online tech company SharpLink Gaming (ticker SBET), which previously announced a strategy to reserve Ethereum (ETH), has submitted an S-3 ASR to the U.S. Securities and Exchange Commission to issue $1 billion in securities. SharpLink had previously announced a $425 million private placement to pursue ETH strategic reserve on the 27th.
Rexshares Likely to Launch SOL and ETH ETFs with Staking Within Weeks
According to Bloomberg analyst James Seyfarth, U.S. asset manager Rexshares has submitted investment prospectuses for Solana (SOL) and Ethereum (ETH) ETFs that allow staking. These ETFs could be the first of their kind and are expected to be launched within weeks. By securing spot investments through a subsidiary, they can bypass the typical exchange rule change notification (19b-4) approval process.
Analysis: "BTC Entering Supply Shock Phase This Year, Potential for Larger Increase"
An analysis suggests that Bitcoin has entered a 'supply shock' phase this year, which could lead to a price increase larger than previous cycles. Katalin Tischhauser, research head at crypto bank Signum, explained that BTC's liquid supply has been steadily decreasing for a year and a half, with major corporate BTC investments expanding. Institutional buying is increasing, regulatory clarity is progressing, and its status as an inflation hedge is strengthening. Nick Forster, founder of Derive (formerly Lyra) options trading protocol, assessed that BTC has entered a healthy correction phase, serving as a breather for a potentially larger rally.
Analysis: "Second FTX Creditor Repayment Could Be Positive"
Coindesk, citing a Coinbase Research team report, suggested that FTX's second creditor repayment could be positive this time. Coinbase noted that this repayment will be provided directly in on-chain liquidatable stablecoins, increasing the likelihood of reinvestment. Market sentiment is improving, with major asset rebounds and regulatory clarity expectations supporting investment sentiment.
Litecoin Development Team Launches ZK-Based L2 LitVM
Lunar Digital Assets, the development company of Litecoin (LTC), has announced the launch of LitVM, a zero-knowledge (ZK) based Layer 2 network, according to Benzinga. LitVM was developed using Bitcoin OS and Polygon CDK, with the goal of introducing smart contract functionality and cross-chain liquidity to LTC. It is also expected to support features such as real-world asset (RWA) tokenization and stablecoin payment infrastructure.
Uphold: "Developing Revenue Generation Options for XRP"
Web3 financial platform Uphold is reviewing options to generate revenue through XRP, according to The Block. Currently, they are testing staking functionality, with a beta version release anticipated.
Orange Cap Games Acquires Moonbuzz, Misix, and Oddity NFT IPs from Yuga Labs
Blockchain game developer Orange Cap Games has announced the acquisition of intellectual property (IP) rights for three Non-Fungible Tokens: Moonbuzz, Misix, and Oddity from Yuga Labs, the developers of BAYC. The transaction terms were not disclosed.
Hyperliquid Whale Records $73.34 Million Loss in Past 7 Days
Hyperliquid whale James Wynn has reportedly recorded a loss of $73.34 million over the past 7 days. He currently holds a BTC 40x long position with an average price of $105,554 and liquidation price of $103,257, as well as a Pepe (PEPE) 40x long position with an average price of $0.0129 and liquidation price of $0.0114. His current holdings, including unrealized losses, are around $800,000.
Altcoin Season Index at 16, Down 6 Points from Previous Day
CoinMarketCap's Altcoin Season Index dropped 6 points to 16. The index is calculated by comparing the price fluctuations of the top 100 coins (excluding stablecoins and wrapped coins) with Bitcoin. If 75% of the top 100 coins outperform Bitcoin over 90 days, it's considered an altcoin season. The closer to 100, the more it indicates an altcoin season.
Crypto Fear and Greed Index at 50, Shifting from Greed to Neutral
Alternative's Fear and Greed Index has dropped 10 points to 50, transitioning from the greed stage to a neutral stage. The index, closer to 0, indicates extreme market fear, while closer to 100 suggests extreme optimism. It is calculated based on volatility, trading volume, social media mentions, surveys, Bitcoin market cap proportion, and Google search volume.
Upbit Temporarily Suspends REI Deposits and Withdrawals
Upbit has announced a temporary suspension of REI deposits and withdrawals due to block generation interruption.
Bithumb Temporarily Suspends REI Deposits and Withdrawals
Bithumb has announced a temporary suspension of REI deposits and withdrawals from May 31st at 11:05 due to network issues.
Brutal Market: BTC Up/Down Prediction Success Rate Only 2.7%
Coinness's Bitcoin price direction prediction game results show that only 21.9% correctly predicted the sideways movement. Only 346 participants (2.7%) successfully predicted two consecutive days. As of 9 AM, BTC price was 14,704,400 won, down 0.22%. 57% predicted an increase on the second day, with 15,977 total participants. The prediction game runs until June 11th, offering prizes like a Tesla Model Y and gift cards.
BTC Mining Difficulty Rises 4.38%, Reaches New All-Time High
According to Cloverpool, Bitcoin mining difficulty increased by 4.38% to 126.98T, setting a new all-time high. The next difficulty adjustment is expected in about 13 hours and 17 minutes.
$101 Million in Futures Positions Liquidated in Past Hour
Major exchanges liquidated $101 million in futures positions in the past hour. Over 24 hours, $882 million in futures positions were liquidated.
US Investor to Lead Investment in Stablecoin Startup Atticus
Palmer Luckey, a famous US virtual reality entrepreneur, is set to lead the new investment round for stablecoin startup Atticus, according to Axios. Details about Atticus remain undisclosed, with the company's valuation estimated up to $2 billion.
Trump: "Japan Wants Trade Negotiations"
Donald Trump stated that "Japan wants trade negotiations," as reported by Walter Bloomberg. Trump is currently in negotiations with India and Pakistan.
US Defense Secretary: "China Seeks to Dominate Asia through Force"
US Defense Secretary Pete Hegseth stated that "China is attempting to forcibly change the current situation in Asia using military force. China wants to become the hegemonic power in Asia, seeking to dominate and control the region. The Chinese threat is real and immediate," as reported by Gyeonggi Ilbo.
