Bitcoin's intraday short position fell to $108,000, with a decline of more than 1.3%, but subsequently rebounded to around $110,000. On-chain data shows that whale account James Wynn increased his long position to $790 million (40x leverage), but currently has an unrealized loss of $5.82 million. The technical analysis indicates that Bitcoin found support near $106,650, with short-term resistance at $110,000. If it breaks through, it may further test $113,000.
Bitcoin ETF saw a weekly net inflow of $2.75 billion, but short-term speculative sentiment has cooled. BlackRock's IBIT holdings reached 651,600 BTC (approximately $71.3 billion).
Retail funds are accelerating their shift towards Bitcoin ETFs, while crypto hedge funds continue to lag behind. Some fund strategies have failed, and the returns from funding rate arbitrage and volatility strategies have declined.
The U.S. House of Representatives plans to review the crypto market structure and stablecoin bill in June, with the Trump administration setting August 4 as the legislative deadline, and the stablecoin bill (GENIUS Act) may pass first.
According to media reports, Trump Media Company DJT plans to raise $3 billion for cryptocurrencies through a $2 billion stock issuance and a $1 billion convertible bond, but this news has been denied by DJT.
From May 27 to 29, the 2025 Bitcoin Conference will be held at the Venetian Expo in Las Vegas. U.S. Vice President JD Vance will serve as the keynote speaker, and the conference will discuss various developments in the Bitcoin ecosystem, including second-layer solutions and the Lightning Network.
On May 27, Lee Jong-ryeol, the Deputy Governor of the Bank of Korea, stated that the central bank plans to issue deposit-type tokens on a public blockchain network, which is a type of 'stablecoin' to be issued within the central bank digital currency framework.
The Pakistani government has appointed Bilal Bin Saqib as the special assistant to the Prime Minister on blockchain and cryptocurrency, and plans to allocate 2,000 megawatts of excess electricity for Bitcoin mining and AI centers to promote the development of infrastructure for the cryptocurrency industry and artificial intelligence.
The project Bitlayer, based on the Bitcoin ecosystem BitVM technology, announced a strategic partnership with three Bitcoin mining pools: Antpool, F2Pool, and SpiderPool, to jointly promote the implementation of BitVM Bridge.
On May 27, the Dubai Land Department launched the real estate tokenization platform Prypco Mint, developed by Ctrl Alt, which divides physical properties into digital tokens on the blockchain, allowing investors to participate in the Dubai real estate market with a minimum investment of $540.
On May 27, the U.S. Securities and Exchange Commission's crypto working group met with Nasdaq, Plume Network, and Etherealize, focusing on the regulatory framework for security tokenization on public chains.
The SEC's crypto working group discussed the regulatory framework for security tokenization with Nasdaq and DeFi startups, proposing the establishment of a 'regulatory sandbox' pilot program to promote compliance.
In response to the Cetus vulnerability incident, Sui announced an additional $10 million investment to enhance security, with funds allocated for audits and a bug bounty program, emphasizing the safety of the Move programming language.
Summary: The cryptocurrency sector is showing diverse dynamics. On one hand, some projects and companies are actively positioning themselves, such as the Bank of Korea's plan to issue deposit-type tokens, Pakistan's allocation of electricity for Bitcoin mining, and Bitlayer's cooperation with Bitcoin mining pools, indicating the exploration and development of the cryptocurrency industry in different regions and business fields. On the other hand, the convening of the Bitcoin conference has attracted significant attention, providing a platform for communication and collaboration for the industry's development and innovation.
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