News linked to both this project and an event.
Analyst Darkfost posted on X platform, stating that the average monthly BTC deposits into Binance by retail investors (referring to addresses holding less than 1 BTC) have fallen to an all-time low, currently at just 314 BTC. This metric stood at around 1,800 BTC during the bear market phase of the current cycle and approximately 1,200 BTC during the first peak in March 2024. In comparison, the peak retail inflow in 2018 reached 5,400 BTC, and in 2021 it was 2,600 BTC. In January 2024, this figure was still around 1,000 BTC, representing a decline of more than threefold within two years. Darkfost noted that retail participation continues to decline, with some investors potentially exiting the market or shifting to indirect holdings such as spot BTC ETFs.
According to Hyperbot data, a certain address recently closed its short positions in BTC and ETH simultaneously for profit taking. Among them, approximately 363.2 BTC (about $27.8 million) was closed at a price of around $76,774, and approximately 2,808 ETH (about $5.98 million) was closed at a price of around $2,130, with a total closed position size of approximately $33.8 million.After completing the profit taking, this address immediately placed new short orders: planning to short approximately 257.2 BTC (about $40 million) in the $77,500–$78,000 range, and short approximately 4,484 ETH (about $10 million) around the $2,230 level. This overall indicates that the address maintains a bearish trading strategy and engages in high-frequency position switching.
According to chart analysis released by independent analyst Markus Thielen on May 19, the current market capitalization of USDT has reached $189.8 billion, while that of USDC stands at $76.9 billion—both exhibiting long-term upward trends. However, since Bitcoin entered a correction phase in October last year, the total market capitalization of stablecoins has remained largely flat, indicating relatively limited inflows of new capital into the crypto market. Thielen noted that although there is a widespread belief that stablecoins will fully replace traditional payment networks, their primary use cases remain concentrated on crypto trading and portfolio management—still far from achieving mainstream payment adoption. While U.S. policy broadly supports stablecoin development—partly because their reserve assets are often reallocated into U.S. Treasury securities—the gap between current usage and true mainstream payment application remains substantial.
According to data from Trader T (@thepfund), yesterday’s net outflow from Bitcoin spot ETFs totaled $649 million—the third-largest single-day outflow in 2026. Among them, BlackRock’s IBIT recorded the largest outflow at $448 million; ARKB (ARK Invest) saw an outflow of $110 million; Fidelity’s FBTC experienced an outflow of $63.42 million; Franklin’s EZBC recorded an outflow of $6.65 million; VanEck’s HODL saw an outflow of $7.59 million; Invesco’s BTCO had an outflow of $3.82 million; and Bitwise’s BITB posted an outflow of $9.16 million. Valkyrie’s, Grayscale’s, and Morgan Stanley’s products reported zero net inflows or outflows on the day.
: Bitcoin financial services company Swan Bitcoin (along with its operating entity Electric Solidus Inc. named as defendants) is facing a lawsuit filed in the U.S. Bankruptcy Court for the District of Delaware, with claims approaching $1 billion.The lawsuit was filed by PCT Litigation Trust, aiming to recover crypto assets related to the 2023 collapse of Prime Trust. The plaintiff accuses Swan of using "material non-public information" to transfer funds out of Prime Trust before its failure, thereby avoiding significant losses.According to the court filing, Swan had transferred assets including approximately 11,992 Bitcoin (currently valued at around $917 million) out of Prime Trust before it filed for bankruptcy, along with roughly $22.4 million in fiat currency, $5 million in stablecoins, and 91,444 XRP tokens.The plaintiff also alleges that Swan had ties to a senior executive at Prime Trust, who also served as an external consultant for Swan. This individual is suspected of providing Swan with information prior to regulatory meetings, thereby helping the company withdraw its assets early.Swan Bitcoin responded, stating that the relevant assets belong to client trust property and should not be used for bankruptcy liquidation, expressing confidence that the court will ultimately support its position. (Decrypt)
data shows the number of wallets holding at least 100 Bitcoin (BTC) has risen to 20,229, representing an increase of approximately 11.2% compared to a year ago. The data indicates that amid market volatility, whales and institutional investors continue to accumulate Bitcoin, reflecting sustained confidence in medium-to-long-term holdings. (Cointelegraph)
Odaily reports, according to Onchain Lens monitoring, a whale has opened 20x leveraged long positions on ETH and BTC, currently holding 4,600 ETH and 1,182 BTC, as well as a 10x leveraged long position on DGE, currently holding 19.47 million DGE.
CoinShares’ latest weekly report shows that digital asset investment products experienced a net outflow of $1.07 billion last week—the first negative weekly flow in seven weeks and the third-largest single-week outflow of 2026. Bitcoin saw a net outflow of $982 million, while Ethereum recorded a net outflow of $249 million. In contrast, XRP and Solana saw net inflows of $67.6 million and $55.1 million, respectively. By region, the U.S. posted a net outflow of $1.14 billion, while Switzerland, Germany, and the Netherlands recorded net inflows of $22.8 million, $22.0 million, and $7.5 million, respectively. Total assets under management declined from $159 billion the previous week to $157 billion.
According to on-chain analyst Onchain Lens (@OnchainLens), BlackRock deposited 2,221 BTC—worth approximately $170.59 million—into Coinbase, and also deposited 26,572 ETH—worth approximately $56.17 million.
Goldman Sachs’ Q1 2026 13F filing with the U.S. Securities and Exchange Commission (SEC) shows a significant reduction in its holdings of crypto asset ETFs: it has fully exited all XRP-related ETFs and all Solana ETFs offered by Grayscale, Bitwise, and Fidelity. Its Bitcoin ETF holdings still include approximately $690 million in BlackRock’s IBIT and roughly $25 million in Fidelity’s FBTC—both down about 10% quarter-over-quarter. Ethereum ETF holdings declined more sharply: its position in the iShares Ethereum ETF (ETHA) was cut by approximately 70%, leaving about $114 million. Additionally, Goldman Sachs increased its stakes in Circle, Galaxy Digital, Coinbase, Robinhood, and PayPal during the same period, while reducing positions in Strategy and Riot Platforms.
Goldman Sachs significantly reduced its crypto ETF exposure in the first quarter of 2026 and has completely exited its holdings in XRP and Solana-related ETFs.Filings show that in the fourth quarter of 2025, Goldman Sachs held approximately $154 million in XRP-related ETFs, including products from Bitwise, Franklin Templeton, Grayscale, and 21Shares, making it one of the largest institutional holders of XRP ETFs at the time. Additionally, the firm previously held Solana-related ETFs such as the Grayscale Solana Trust ETF, Bitwise Solana Staking ETF, and Fidelity Solana Fund, all of which have now been fully sold off.However, Goldman Sachs still retains substantial holdings in BTC and ETH ETFs. Specifically, it holds approximately $690 million in BlackRock's IBIT and about $25 million in Fidelity's FBTC, though both positions were reduced by roughly 10% compared to the previous quarter. Meanwhile, its holding in BlackRock's ETHA shrank by about 70%, leaving approximately 7.2 million shares valued at around $114 million.Furthermore, Goldman Sachs increased its holdings in crypto-related stocks such as Circle, Galaxy Digital, Coinbase, Robinhood, and PayPal, while reducing positions in mining and infrastructure companies like Strategy, Bit Digital, Riot Platforms, and IREN. (Cointelegraph)
According to Cointelegraph, cryptocurrency analysts are divided on whether Bitcoin will reenact its historical “Sell in May” pattern in 2026. In the two midterm election years—2018 and 2022—Bitcoin experienced sharp declines in May, falling approximately 30% and 70%, respectively. Analyst Merlijn Enkelaar warned that this historical pattern could repeat, with Bitcoin potentially dropping to $33,000. Joao Wedson, CEO of Alphractal, also noted that if Bitcoin remains persistently below $78,000, the likelihood of a new capitulation phase increases. However, Jeff Ko, Chief Analyst at CoinEx, argued that past crashes stemmed from specific shocks—including the Mt. Gox incident, China’s ICO regulations, the Federal Reserve’s monetary tightening, and the collapses of Terra and FTX—not from calendar-based seasonality. He added that the launch of spot ETFs, corporate treasury allocations, and progress on the CLARITY Act have significantly broadened the institutional buyer base, making a 70–80% deep correction unlikely this cycle. Analyst Michaël van de Poppe highlighted $76,000 as the current critical support level; failure to hold it would likely trigger further downside pressure.
Bitcoin has fallen below the $77,000 mark, hitting a low of approximately $76,720. Analysts attribute the market decline primarily to multiple macroeconomic pressures, including the renewed escalation of tensions between the US and Iran, rising inflation concerns, and increased risk aversion across risk assets. Former US President Donald Trump issued a strong warning to Iran on social media, intensifying geopolitical uncertainty.Meanwhile, rising oil prices have further elevated inflation expectations, with Brent crude climbing to around $111 and WTI rising above $107. This has sparked concerns that the Federal Reserve may maintain higher interest rates for a longer period.The current selling pressure is also compounded by factors such as rising US Treasury yields, a strengthening US dollar, and ETF outflows. Data shows that Bitcoin ETFs saw net outflows of approximately $1 billion in the week ending May 17, ending six consecutive weeks of net inflows.In terms of market sentiment, the Bitcoin Fear and Greed Index has fallen back to 27, re-entering the "fear zone." Analysts believe that short-term trends will remain highly dependent on macroeconomic data and policy expectations. However, some institutions view the current correction as a "healthy digestion" period, suggesting the long-term structure remains unchanged. (The Block)
: Analyst Murphy posted on X platform, stating that based on the relationship between the "1-3 month short-term holder cost basis (1-3m_RP)" and price action, Bitcoin may currently be in the formation stage of a bottom structure.Murphy pointed out that previous bear market bottoms were accompanied by BTC breaking through and trading around the 1-3m_RP cost basis line, but the patterns differed across cycles: In 2015-2016, BTC oscillated around this cost basis line for an extended period; in 2019-2020, it directly triggered a mini bull run after the breakout; in 2022-2023, it experienced a second retest to confirm support before rebounding again.Murphy stated that since BTC broke through this cost basis line on April 15, it has continued to trade above it. Regarding future trends, he believes the focus is not on predicting specific scenarios, but rather on preparing position and trading response plans for different market situations in advance.
on-chain analyst Yujin posted on Platform X, stating that current market trading enthusiasm is now much lower than it was at the bottom of the last bear market (December 2022). This is despite the fact that prices of several major cryptocurrencies are still far higher than they were at that time.BTC: At the last cycle bottom, the average daily trading volume for BTC/USDT on Binance was around $20 billion. Now it is only about $5 billion. The current price is 4.5 times higher than the previous bottom. The correction magnitude last cycle was -75%, while from the peak to now in this cycle, it is -38%.ETH: At the last cycle bottom, the average daily trading volume for ETH/USDT was around $4 billion. Now it is only about $2 billion. The current price is 1.7 times higher than the previous bottom. The correction magnitude last cycle was -75%, while from the peak to now in this cycle, it is -54%.BNB: At the last cycle bottom, the average daily trading volume for BNB/USDT was around $50 million. Now it is roughly at the same level. The current price is 2.7 times higher than the previous bottom. The correction magnitude last cycle was -65%, while from the peak to now in this cycle, it is -50%.
crypto research firm 10x Research stated that since the release of US CPI data on May 13th, Bitcoin ETFs have seen cumulative net outflows exceeding $1 billion, reigniting "inflation trade" sentiment in the market. Market sentiment indicators have dropped from 87% to 45%. Meanwhile, long-term US Treasury yields continue to climb, with the 30-year yield rising to 5.12%. As inflation returns to the forefront of market focus, the crypto market is facing significant headwinds.Furthermore, 10x Research noted that its models have triggered bearish signals for Ethereum, and Bitcoin is currently testing the key support level of its 30-day moving average. A confirmed breakdown below this level could signal further momentum deterioration. The firm is closely watching the short-term bull/bear line at $79,125 and the major support level at $76,922, suggesting that the bottom for this cycle may have already formed.
According to Binance Research (@BinanceResearch), four on-chain metrics currently converge to indicate a sustained tightening of Bitcoin supply and an exhaustion of selling pressure: ① Nearly 60% of BTC supply has remained unmoved for over one year, with the supply dormancy rate holding at a historical high; ② The SLRV ratio is deep in its historical bottom range, indicating long-term holders dominate supply while short-term speculators have largely exited the market; ③ Exchange BTC balances have declined from their COVID-era peak of 17.6% to the current 15.0%, with approximately 500,000 BTC permanently flowing out of exchanges—resulting in the available seller supply hitting a six-year low; ④ BTC short-term holder MVRV has remained persistently below 1.0 since November 2024, continuously eroding selling pressure; recently, it has rebounded above 1.0, signaling that short-term holders are beginning to rebuild unrealized profits. Binance Research believes this combination of signals closely aligns with historical cycle bottom characteristics.
CryptoQuant analyst Axel Adler stated Bitcoin has recently attempted to breach the $82,000 level three times, but each time it has faced a pullback. During each rebound, the STH-SOPR indicator rose to around 1.0 before weakening again, indicating that short-term holders are taking advantage of the uptrend to continuously exit with profits, rather than continuing to hold positions. Currently, $82,000 is not only a key technical resistance level but also an important selling pressure zone from a market behavior perspective, having formed a strong supply zone.
According to CryptoQuant analyst Axel Adler, Bitcoin has recently attempted to break above the $82,000 level three times—but each time failed and retreated. Data shows that during each rally, the STH-SOPR indicator rose to around 1.0 before weakening again, indicating that short-term holders are consistently taking profits amid upward price movements rather than holding onto their positions. Axel Adler notes that $82,000 is not only a key technical resistance level but also a significant zone of selling pressure from a market-behavior perspective. Currently, this level coincides with Bitcoin’s 200-day simple moving average (200D SMA). Until the 7-day SMA of STH-SOPR sustains above 1.0 for several consecutive days—and until Bitcoin’s daily closing price decisively breaks above its 200-day SMA—the ongoing rally may still be viewed as a selling opportunity. On the macro front, escalating tensions in the Middle East continue to dampen market risk appetite. Fueled by the Iran conflict, rising oil prices, and expectations of “higher-for-longer” interest rates, U.S. equities closed lower across the board on Friday. WTI crude oil futures surged over 4%, while the yield on the 10-year U.S. Treasury note climbed to approximately 4.6%, hitting a year-to-date high.
Odaily Odaily News: Analyst Axel Adler Jr. posted on X platform, stating that Bitcoin has been rejected at $82,000 again, marking the third failure at this level. The short-term holder SOPR indicator has still failed to stay above 1.0, indicating that short-term holders continue to sell during each rally. Currently, crude oil is near $106, the Dow Jones Industrial Average has dropped 537 points, and interest rates face the risk of remaining elevated for a prolonged period.