On Tuesday (May 27), Bitcoin briefly fell to the $108,000 level, with a drop of over 1.30%. Trump Media Group (TMTG) denied raising $3 billion to purchase cryptocurrencies, while leveraged whales increased their Bitcoin long positions to $790 million in the early morning.
According to The Block, the Financial Times cited six anonymous sources stating that Trump Media and Technology Group plans to raise $3 billion through stock sales for investment in Bitcoin and other cryptocurrencies. The company strongly denied this, stating that "(Financial Times) foolish reporters listened to even more foolish sources."
According to on-chain analyst Yu Jin's monitoring, whale James Wynn has increased his BTC long position to $790 million at 1 AM, currently showing a floating loss of $5.82 million.
Position Situation: 40x leverage long on 7,227 BTC, position value $790 million. Opening price $110,084, liquidation price $107,580. Currently showing a floating loss of $5.82 million.
On other important news, Dubai has launched the first licensed tokenized real estate project in the MENA region, signaling one of the world's emerging crypto centers' interest in real-world tokenization.
According to an announcement from the Dubai government, the project's partners include the Dubai Land Department (DLD), the Central Bank of the UAE, and the Dubai Future Foundation. These tokens will be traded on the newly launched 'Prypco Mint' platform, with Zand Digital Bank designated as the bank for the project's pilot phase.
On May 19, the Dubai Virtual Assets Regulatory Authority (VARA) updated its regulatory rules, officially bringing real-world asset tokenization (RWA) under regulatory scope, allowing such tokens to be traded on the secondary market.
This project allows individual investors to purchase tokenized shares of 'Dubai Instant Real Estate', with a minimum investment of 2,000 UAE Dirhams (approximately $545). During the pilot phase, all transactions are settled in Dirhams, and cryptocurrency payments are not supported. Although the pilot is currently only open to investors holding UAE ID, the project plans to promote it globally in the future.
In April of this year, the Dubai Land Department reached a consensus with the Virtual Assets Regulatory Authority to link the Dubai real estate registration system with the real estate tokenization project, aiming to attract global investors and enhance liquidity in the Dubai real estate market. The project was first announced to launch in March this year.
U.S. House Speaker Mike Johnson, in an interview with CNN, downplayed Trump's dinner invitation to major holders of his TRUMP meme coin, avoiding the question of whether the guest list should be made public to ensure transparency.
"We do not know who was present at the time. The list has not been published. We also do not know how much funding came from abroad," CNN's Jake Tapper told Johnson. "I find it hard to imagine that if it were a Democratic president doing the same thing, you wouldn't feel angry."
"Look, I know nothing about the dinner," Johnson replied, claiming he had been "a bit busy the past week" focusing on a $1.6 trillion federal budget appropriation bill.
He added that he was "not sure who was present at the time or what their purpose was," then claimed that Trump is the "most transparent president in history, with nothing to hide."
On May 22, Trump invited the top 220 holders of his TRUMP meme coin to a dinner at the Trump National Golf Club in Virginia but kept the guest list confidential, raising concerns among critics that foreigners might exploit the event to pay for meetings with the president.
Bitcoin Technical Analysis
Bitcoin price found support around $106,650 and then started to correct upwards. The price has successfully broken through the two important resistance levels of $107,500 and $108,000, while also breaking the 50% Fibonacci retracement level from the high of $111,982 to the low of $106,672.
The price even briefly broke through the $110,000 mark, but the bearish force remained strong around $110,200, preventing Bitcoin from further breaking through the 61.8% Fibonacci retracement level from the high of $111,982 to the low of $106,672.
Bitcoin is currently trading above $108,500 and the 100-hour simple moving average. On the hourly chart, a bullish trend line is forming, with support at $109,200.
In terms of upper resistance, Bitcoin is currently facing its first resistance level around $110,000, followed closely by a key resistance at around $110,750, with further resistance potentially appearing at $111,800. Once the closing price successfully breaks above $111,800, it may push the price to continue to rise, targeting $113,000, and if the momentum remains strong, it could even challenge the $115,000 level.
If Bitcoin cannot effectively break through the $110,000 resistance, it may trigger a new round of corrections. On the support side, the initial support level is at $109,200, with the main support around $108,500.
Current further support is at $107,500. If the price continues to decline, it may test the support at $106,200 in the short term. If it falls below the important support of $105,000, Bitcoin's downward momentum will significantly increase, and the market may enter a bearish phase.
The BTC institutions are still active, while ETH awaits favorable conditions? The 'washing market' under the tug-of-war between bulls and bears is currently unfolding!
In recent days, there has been a clear divergence between Bitcoin bulls and bears, with the market in continuous fluctuation. Many are asking: Is this selling or washing? We will analyze the underlying logic based on the flow of funds.
🔹 BTC Contracts: Are institutions actively reducing positions or cleaning up floating chips?
Data shows that both institutional and retail investors are decreasing their contract positions. Two possibilities: one is that institutional investors are withdrawing to mitigate risk; the other is that retail investors are being 'washed out' through volatility to create space for future market movements.
🔹 BTC Spot: Retail investors panic and cut losses, chips are being washed out.
Since May 22, BTC spot holdings have continued to decline, a typical signal of retail outflow. This indicates that most people are being forced to exit, creating conditions for institutions to buy low.
🔹 ETH contracts: Retail investors dance alone, lacking direction.
The ETH contract market is still dominated by retail investors, with frequent entries and exits showing a lack of confidence and a chaotic operating rhythm.
🔹 ETH Spot: Institutions are quietly building positions; have they finished 'stocking up'?
Unlike contracts, ETH's spot buying shows clear signs of institutional involvement. It is speculated that institutions have shifted to spot trading after arbitraging through contracts, and they have completed initial positions, waiting for market catalysts.
💡 Summary:
BTC institutions are still dominating the rhythm of washing, while ETH institutions are waiting for favorable conditions. The market is currently in a stage of 'shaking out retail investors, preparing for takeoff,' with the real trend possibly brewing.
Finally: Enter $T with a market value of 1 million, catching the last train of BSC alphabet coins.
Playing memecoins should follow the money flow; recently, ETH's Matt Furie IP was hot, so play ETH; now BSC alphabet coins are trending, so play BSC.
Funds are rotating between chains, making it easy for retail investors to be cut off. The key is not to chase highs, to enter early with leading assets, and to enter late with derivatives. For example, $B, with a market value from 400 million to 1 billion, only doubled, but the risk of decline is high, and the operator's selling is obvious, making it easy to become a bag holder when chasing highs.
