The price of Bitcoin is fluctuating in the range of $107,000 to $110,000, with a 24-hour decline of 0.857%. The key support level is $106,000 (if breached, it could trigger the liquidation of $6 billion in long positions).
ETH: Current price is 2,755.02 USDT, with a 24-hour increase of 4.274%. It has broken through an ascending triangle pattern, and if it can hold above $2,720, it may accelerate upward.
In the past 24 hours, there have been liquidations totaling $568 million across the network, primarily triggered by Bitcoin breaching the $108,000 support level, with a low of $106,712. The technical analysis shows a 'dark cloud cover' pattern, intensifying the battle between bulls and bears.
The net inflow of Bitcoin spot ETFs in the U.S. was $433.66 million in a single day (with BlackRock's IBET accounting for $482 million). Cumulatively, $3.294 billion flowed in during May, setting a new high for the year.
U.S. Vice President Vance stated that he still holds a significant amount of Bitcoin and believes that cryptocurrency is a hedge against poor policies from Washington and rising inflation. He also mentioned that the U.S. government will prioritize eliminating regulations, red tape, and legal battles against cryptocurrency from the previous administration, aiming to establish 'innovation-supporting' rules for digital assets and fully incorporate cryptocurrency into the mainstream economy.
The Trump administration has allowed 401(k) retirement plans to invest in Bitcoin, which could introduce hundreds of billions in institutional funding.
BlackRock plans to subscribe to 10% of Circle Internet's IPO shares, and Cathie Wood's Ark Investment Management also plans to purchase $150 million worth of Circle IPO shares.
New York City Mayor Eric Adams plans to issue Bitcoin bonds for New York. Additionally, Donald Trump Jr. and Eric Trump predicted at the Bitcoin 2025 conference that the price of Bitcoin could exceed $170,000 by the end of 2026, and they disclosed multiple business ventures of the Trump family in the cryptocurrency sector.
The Pakistani government announced that it will launch a strategic Bitcoin reserve. Bilal Ben Saki, the special assistant to the Prime Minister on blockchain and cryptocurrency, stated that they are inspired by the U.S. and will hold Bitcoin and never sell it.
Stablecoin issuer Circle has recently frozen two Solana wallet addresses related to the LIBRA token team, involving approximately 58 million USDC. The freeze was due to legal disputes arising from the meme coin LIBRA incident.
According to blockchain security analyst ZackXBT, the North Korean hacker group Lazarus Group launched a cyber attack on individual cryptocurrency traders on May 24, stealing over $5.2 million in assets from one trader.
NASDAQ-listed DeFi Development Corp has become the first public company to invest in Solana's liquid staking tokens (LST).
The former chair of the CFTC warned that the cryptocurrency market needs stronger regulation, or it will remain in a state of disorder for a long time.
Summary: The cryptocurrency sector is constantly evolving. U.S. Vice President Vance's positive remarks on cryptocurrency undoubtedly injected a boost into the market, and his expectations for policy adjustments have provided more opportunities for industry participants. Additionally, the involvement of institutions like BlackRock in the Circle IPO indicates traditional financial giants' recognition and strategic positioning in the cryptocurrency industry. Furthermore, the plans for issuing Bitcoin bonds and the introduction of strategic Bitcoin reserves by various countries are pushing cryptocurrencies like Bitcoin further into the mainstream.
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