铁头讲币

Dogecoin (DOGE) is launching on Solana, further expanding its influence in the cryptocurrency ecosystem. This move comes as technical analysis indicates the price could break through $0.31, following a bullish chart pattern. This integration is supported by Wormhole's native token transfer (NTT) framework and utilizes zero-knowledge proofs.
Dogecoin integrated with Solana through Wormhole
Wormhole announced it will integrate Dogecoin (DOGE) into Solana using its native token transfer (NTT) framework. This upgrade allows Dogecoin (DOGE) to operate as a native token on Solana. The NTT technology enables seamless multi-chain transfers while maintaining control over token supply and contract upgrades.

On Friday (May 23), the official meme coin of U.S. President Trump, TRUMP, surged due to the dinner, briefly reaching $15.86 before falling back to $14.35. The TRUMP coin dinner attracted $150 million in investment, but a backlash emerged in the U.S. Congress, with Democrats seeking to force a vote on the event.

Reuters reported that on Thursday local time, TRUMP coin buyers from around the world gathered at a private country club along the Potomac River, located in the suburbs of the capital, to attend an exclusive dinner.
According to the cryptocurrency intelligence company Inca Digital, investors spent a total of about $148 million to buy TRUMP meme coins to secure their seats at the dinner, with the top 25 holders spending over $111 million.

The digital identity verification project World (WLD, formerly known as Worldcoin), co-founded by OpenAI CEO Sam Altman, has once again attracted capital attention. The company announced on Wednesday that it successfully raised $135 million from early investors Andreessen Horowitz (a16z) and Bain Capital Crypto through the sale of its native token WLD.
World stated that this funding will be used to promote the expansion plan of the digital identity verification network 'World Network' in the United States and globally, while also strengthening the infrastructure of the digital identity 'World ID'.
According to official information, over 26 million people have used the World Network to date, with 12.5 million people completing identity verification through the iris scanning device 'Orb' to obtain a 'World ID'.

On Thursday (May 22), Bitcoin rose above $110,000, benefiting from the cooling of trade war tensions and the Texas House of Representatives formally passing the Strategic Bitcoin Reserve Act SB21. A new report shows that Americans' Bitcoin holdings have exceeded gold, becoming the country's emerging reserve asset.

Positive news on US Bitcoin strategic reserve and stablecoin bill
The Texas House of Representatives officially passed the Strategic Bitcoin Reserve Bill SB21, which is a milestone for the cryptocurrency industry. Once the state governor Greg Abbott signs the SB 21 bill, the United States will officially establish a Bitcoin reserve.

Argentine President Javier Milei sparked controversy again by dissolving the 'investigation task force'. This 'investigation task force' was established to investigate the $LIBRA (LIBRA meme coin) scandal, which caused a stir in Argentina.
BlockBeats reported in February that the Argentine president launched the meme coin 'LIBRA', which lost $3.4 billion in market value within an hour.
Milei promoted a meme coin project called 'LIBRA' on his social media, which led to significant investment losses and fraud allegations. This scandal has resulted in Milei facing over 100 criminal charges, including accusations of fraud and criminal association from opposition politicians and civil society groups.

The SEC has postponed its decision on Grayscale Investment's Dogecoin ETF application. Numerous altcoins, including Dogecoin (DOGE), Ripple (XRP), and Solana, are waiting for the SEC to decide on more than 70 ETF applications, but the ongoing delays are affecting the sentiment of these underlying digital assets and investors. However, on the other hand, the launched Bitcoin and Ethereum exchange-traded funds (ETFs) are performing well, and market demand remains strong.
Spot XRP and Dogecoin ETF delay
The SEC is intensifying its evaluation of these exchange-traded funds (ETFs), resulting in the delay of approvals for Dogecoin (DOGE) and Ripple (XRP) ETFs. Grayscale submitted its application for a spot Dogecoin ETF in March 2025 after launching its trust product in January 2025. However, even after several months, the SEC has yet to comment on the application, which is still under review.

According to on-chain data, Ethereum co-founder Jeffrey Wilcke transferred approximately $262 million worth of 105,736 Ether to the cryptocurrency exchange Kraken on May 20, nearly emptying Wilcke's entire Ether holdings, leaving only about 268 Ether in his wallet.

Jeffrey Wilcke is a key figure in the early development of Ethereum. He is a Dutch software developer known for co-founding Ethereum. His career began at the Utrecht School of Arts (Hogeschool voor de Kunsten Utrecht) in creative education, and he later worked as a programmer at Noxa and co-founded Agile Pandas.

On Monday, the inflow of spot Bitcoin ETFs surged again, totaling $667 million. BlackRock's iShares Bitcoin Trust (IBIT) led the way, while Fidelity's FBTC and Ark Invest's ARKB also contributed significant inflows. BTC prices rebounded strongly today by 3%, breaking through the $105,565 mark. Additionally, technical charts show the formation of a 'golden cross', driving strong bullish sentiment.
BlackRock leads the inflow of spot Bitcoin ETFs again.
On Monday, the net inflow for BTC ETFs was $667 million, with BlackRock's IBIT contributing $306 million to the net inflow. Market analyst Nate Geraci stated that in the past 24 trading days, 23 of them saw a significant portion of inflows dominated by IBIT.

The U.S. SEC has once again hit the 'pause button,' delaying decisions on multiple Solana (SOL) spot ETF applications and initiating a public consultation process. As the review process is extended again, the timeline for the launch of related products remains uncertain.
According to regulatory documents released on Monday, the U.S. SEC stated that the listing proposals for Solana spot ETFs from issuers such as 21Shares, Bitwise, VanEck, and Canary Capital still involve many regulatory issues that need clarification, and thus they have decided to further postpone the review timeline.
It is worth noting that the U.S. SEC's decision to delay does not indicate a tendency to approve or reject the relevant ETFs, nor does it send any signal to the market. The official documents emphasize that:

Bitcoin enterprise giant Strategy (formerly MicroStrategy) has once again made a significant investment. According to a document submitted to the U.S. Securities and Exchange Commission (SEC) on Monday, the company purchased 7,390 bitcoins at an average price of $103,498 each, amounting to a total expenditure of $764.9 million between May 12 and 18.
According to co-founder and executive chairman Michael Saylor, this latest purchase has increased Strategy's total bitcoin holdings to 576,230 coins.

Based on the current price of bitcoin, the value of their holdings has exceeded $59 billion, with a total investment cost of approximately $40.2 billion and an average entry price of $69,726 per coin. This indicates that the company's unrealized profits (unrealized gains) have reached $18.8 billion, accounting for 2.7% of the total global bitcoin supply of 21 million coins.

On May 19, 2025, Bitcoin's price surpassed $107,000, setting a new historical high. This milestone was not coincidental but a result driven by an avalanche of institutional capital, macro policy shifts, and geopolitical games. The current price trend exhibits characteristics starkly different from past bull markets: retail speculation has receded, with ETF funds, sovereign wealth funds, and corporate balance sheets becoming the dominant market forces; the intertwining of the Fed's monetary policy and trade tariff policy has reshaped Bitcoin's dual narrative as an 'inflation hedge' and 'digital gold'; and the legislative process of the U.S. (GENIUS Act) could fundamentally rewrite the landscape of the stablecoin market, thereby affecting Bitcoin's long-term value logic.

The most significant event last week was the trade negotiations between the U.S. and China, resulting in mutual tariff reductions. However, Bitcoin, due to its safe-haven property, did not rise as much as the U.S. stock market. Instead, it followed a corrective path similar to gold, but the price still held steady around $103,000, indicating that demand for Bitcoin remains high. We judge that the buying power still primarily comes from institutional ETFs, and the influence of retail investors is no longer as significant as in the past. On-chain data also shows that these smaller market participants are finally reappearing, which may indicate that Bitcoin still has room for short-term increases, but it may also represent that this cycle is nearing its peak.

On Wednesday (April 30), Ether hovered around $1805, with bulls temporarily retreating to catch their breath. So far this year, the correlation between Ether and Bitcoin has severely decoupled, dropping by more than 45%. As Bitcoin bulls return, traders are closely watching for bottom signals from Ether. Analysts point out that the key indicator LTH-NUPL has entered the red zone, indicating signs of a buying opportunity.
Chinese analyst Phyrex Ni wrote: “This data of LTH-NUPL is something I have always liked to use when observing Bitcoin. I didn't write it in detail yesterday because I had to coordinate a lot of data, but indeed, from a historical perspective, this data has never been wrong; buying in the red zone has always yielded good returns. This time, the red zone is below $1500, and it appeared for a very short time.”

Despite the unclear market direction, the overall profit share of Bitcoin continues to rise. On-chain data shows that over 85% of the circulating supply of Bitcoin is in profit, meaning that most investors hold coins with positive returns. Such data is often seen as a "bullish signal," but it is often accompanied by the market entering an "overheated phase (Euphoria Zone)" — where coin prices spike in the short term but the risk of subsequent pullbacks also rises.
The profit ratio has broken through 80%, analysts remind: not far from the "emotional peak."

Bitcoin's "Supply in Profit" has surpassed 85% (currently at 87.2%), which is a positive signal showing high market confidence and a strong bull market atmosphere, but historical experiences bring caution. He stated:

On Wednesday (April 30), Bitcoin saw a slight decline amid the chaos of trade war negotiations, but bulls remained above 94,000 USD. Under Trump’s DJT Group, the Truth Social utility token is set to be launched as part of a rewards program. Tether has minted 2 billion USDT stablecoins, signaling increased demand in the market.

Trump: DJT prepares to issue a coin, TRUMP dinner gifts a watch, USD1 market cap breaks 1 billion
According to CoinDesk, Trump’s DJT Group stated in a letter to shareholders on Tuesday: 'As part of our rewards program, we are exploring the introduction of a utility token in the Truth digital wallet, initially for paying Truth subscription fees and later for other products and services in the Truth ecosystem.'

The dominant holder of Bitcoin among U.S. publicly traded companies, MicroStrategy, announced again yesterday (28) that from April 21 to 27, it spent $1.42 billion to buy an additional 15,355 Bitcoins at an average price of $92,737, bringing its total Bitcoin holdings to 553,555 BTC, with a total purchase cost reaching $37.9 billion, updating the average price per Bitcoin to $68,459 (with an unrealized gain of approximately $12.9 billion).

The funds for this Bitcoin acquisition by MicroStrategy still come from the proceeds of its recent stock sale. According to documents provided by MicroStrategy, last week, the company sold 4.02 million shares of MSTR stock, raising approximately $1.4 billion.

On-chain detective ZachXBT revealed this afternoon that Bitcoin valued at up to $330 million (3,520 BTC) was suspected to have been stolen and quickly laundered into the privacy coin Monero (XMR) through multiple platforms.

Large-scale money laundering operation, Monero surges
ZachXBT pointed out that this large sum of money was quickly dispersed to at least six instant trading platforms for conversion. This sudden and massive buying spree even caused the price of Monero to surge by about 50% in a short time, attracting market attention. As of the time of writing, it has retreated to $289.15, still showing a 26% increase in the last 24 hours.

Momentum indicators and on-chain KPI.
After falling to the 'death cross' on April 7, Bitcoin has now broken through all key moving averages. Its performance after this will provide some key insights, allowing us to judge whether we are entering the long-awaited long-term bull market cycle or if the long-term downtrend will continue.

We expect Bitcoin's price to still pull back at some point. At that time, Bitcoin is expected to drop to a low slightly above the previous low (breaking $76,000), and if Bitcoin drops to a lower low (below $76,000), we expect support above $70,000. If the support level holds, the bull market will continue. If it breaks below $70,000, this will further confirm that Bitcoin is in a left-side cycle, and the downtrend will persist.

Bitcoin has temporarily rebounded from the slump towards $76,000 earlier in April, although the outlook for President Trump's tariff war remains uncertain, but the market has seen a significant turnaround. The supply of Bitcoin on exchanges has dropped to its lowest level since 2018, laying the groundwork for potential supply shocks and increased price volatility, with Bitcoin's fundamentals having shifted to 'bullish.'
According to CryptoQuant data, the amount of Bitcoin held by centralized exchanges has dropped to its lowest point since 2019. As of late April 2025, only about 2.5 million Bitcoins remain on exchanges, which means a reduction of 500,000 since the end of 2024.

Bitcoin continued to fluctuate narrowly between $94,000 and $95,000 over the weekend, until a more noticeable decline occurred early today (28th), falling below $93,000, and before publication was reported at $92,911.
In the upcoming week, investors will face a series of key events and data that could bring significant volatility to the financial markets. Notably, the highly anticipated earnings season of tech giants on Wall Street, the U.S. employment report, and the subtly changing U.S.-China trade relations are particularly worth watching.

Tech Giants Earnings Season: Leading or Dragging the Market?
This week is a critical period for U.S. corporate earnings season, as several influential tech giants on Wall Street will successively release their latest quarterly financial reports. Among them, the performance of Apple, Microsoft, Amazon, and Meta, regarded by the market as the 'seven giants,' will undoubtedly be the focal point for global investors.