Access Binance OTC desk on the VIP Portal
Top Interest of the Week
President Donald Trump’s $TRUMP meme coin took a 16% hit on Friday morning, just hours after a much-hyped gala at his Trump National Golf Club in Potomac Falls, Virginia, on May 22, 2025. Billed as “the most exclusive invitation in the world,” the event drew 220 deep-pocketed investors who shelled out a combined $148 million for entry. Yet, many left underwhelmed by lackluster food and scant face time with Trump. The President made a fleeting 23-minute appearance, delivering a speech on his ambition for a U.S. bitcoin reserve and his crypto-friendly agenda, only to exit by helicopter without mingling or posing for photos. This abrupt exit and the gala's lackluster execution contributed to the drop in $TRUMP's value, raising concerns about the token's stability and Trump's crypto initiatives.
The AI cryptocurrency scene is heating up again, with Virtuals Protocol leading the sector. Investors are flocking to AI-related projects, captivated by the promise of artificial intelligence enhancing Web3 through autonomous and agent-based innovations. Riding this wave, Virtuals Protocol’s $VIRTUAL token soared 8% over the past week. Since bottoming out at $0.41 on April 7, it’s skyrocketed by 485%, propelled by surging interest in AI-powered blockchain solutions. This rally highlights the growing allure of smart, tech-forward tokens in the evolving crypto landscape.
Toncoin ($TON) spiked 21% on Wednesday, climbing from $3.01 to $3.65, after Telegram CEO Pavel Durov touted a deal to weave xAI’s Grok chatbot into the app. The excitement fizzled fast, though, with a 7% drop on Thursday when Elon Musk denied the news of the $300 million Telegram-xAI partnership. Still, $TON clawed back some ground, posting a 5.4% gain over the last week. These wild swings underscore how sensitive crypto markets are to big-name buzz—and how quickly sentiment shifts when the hype doesn’t hold.
Overall Market
Source: TradingView
The above chart is the BTC price in the daily candle chart at a log scale.
In our May 15 report, we spotlighted the impressive surge in Bitcoin (BTC) prices, propelled by a massive wave of capital pouring in through ETFs. This flood of investment was the key force behind BTC smashing through to a fresh all-time high of $111,980 last week. However, the rally hit a roadblock when US President Trump unveiled 50% tariffs on European Union imports last Friday. The announcement threw a wrench into BTC’s upward climb, pulling its price below $110,000 and triggering three straight days of losses. Despite this, ETF inflows remain strong, hinting to our team that the bullish trend might be facing a pivotal shift.
The chart above reveals another critical development: BTC has slipped below the 7-week upward trendline that held firm since April 9—the same day Trump’s reciprocal tariffs kicked in. This breach is a red flag for our analysts, signaling that the market’s momentum may be taking a turn. As of now, BTC is hovering at $106,000, a level that could swing either way. Per the chart, a drop might find solid footing at $103,000, while $110,000 looms as a tough resistance point along the trendline. Short-term traders, take note: it’s wiser to sit tight and let the market show its hand before jumping in.
Zooming out, our team remains optimistic about BTC’s long-term trajectory, especially after two weeks of hefty ETF inflows. The sheer volume of this capital points to institutional heavyweights from traditional finance fueling the rally that ignited on April 9. These players aren’t in it for a quick flip—they’re embracing a buy-and-hold mindset, eyeing sustained growth. With ETFs snapping up large chunks of BTC, the market’s floating supply is shrinking fast, laying the groundwork for another potential price surge.
On top of that, we’re seeing a growing wave of companies weaving BTC into their balance sheets, taking a page from Michael Saylor’s playbook. This corporate embrace is a bullish beacon for BTC’s integration into mainstream finance. If this trend gains steam, it could spark a domino effect, drawing more firms into the fold and pushing BTC’s price even higher.
Bitcoin ETF Tracker
The above table is the BTC spot ETF net inflow data in the past five trading sessions.
The price of BTC soared to unprecedented levels, fueled by a significant influx of capital through the ETF channel. The robust interest from the traditional finance sector, particularly from institutional investors, contributed to BTC reaching a new all-time high of $111,980 USDT last Thursday.
Despite the ongoing inflow, albeit at a diminished rate concerning ETFs, it was insufficient to continue the BTC uptrend. Consequently, the BTC price retreated to the $106k support level as traders began to realize their profits.
Over the long term, the substantial capital inflow indicates a bullish outlook among institutional investors, who typically adopt a long-term investment approach. In other words, these Bitcoin ETF purchasers are inclined towards a buy-and-hold strategy, which effectively decreases the floating supply in the market and positively influences the long-term price trajectory of BTC.
Macro at a glance
Last Thursday (25-05-22)
U.S. initial jobless claims remained subdued, with 227,000 claims reported last week, falling below the forecasted 230,000.
The S&P Global Manufacturing PMI for May is projected at 52.3, significantly exceeding the forecasted 49.9. Likewise, the S&P Global Services PMI is anticipated to reach 52.3, surpassing the expected 51.0. These improving PMI figures indicate a shift toward an optimistic economic outlook for the U.S., bolstered by recent tariff developments between the U.S. and its trading partners.
Last Friday (25-05-23)
The U.K. reported robust retail sales growth in April, with annual growth reaching 5.0%, exceeding the forecasted 4.5%. Core retail sales also exhibited strong performance, achieving a 5.3% annual growth rate, higher than the anticipated 4.4%.
Germany’s GDP experienced a 0.4% quarterly growth in Q1, outperforming the forecasted 0.2%.
U.S. new home sales surged from 670,000 in March to 743,000 in April, surpassing the forecasted 694,000.
On Tuesday (25-05-27)
U.S. durable goods orders contracted by 6.3% in April, an improvement over the forecasted 7.6% decline.
The U.S. CB Consumer Confidence Index for May registered at 98.0, substantially higher than the forecasted 87.1 and April’s 85.7. This uptick reflects a resurgence in consumer confidence and a greater willingness to spend, which is expected to contribute positively to U.S. GDP growth.
On Wednesday (25-05-28)
The FOMC meeting minutes from May reveal that officials remain cautious regarding interest rate decisions, opting to await further economic data before implementing any policy adjustments.
Why trade OTC?
Binance offers our clients various ways to access OTC trading, including chat communication channels and the Binance OTC platform (https://www.binance.com/en/otc) for manual price quotations, Algo Orders, or automated price quotations via Binance Convert and Block Trade platform (https://www.binance.com/en/convert) and the Binance Convert OTC API.
Email: [email protected] for more information.
Join our Telegram Channel (@BinanceOTCTrading) to stay up to date with the markets!