Bitcoin | Crypto

Bitcoin is geared for further price downside as traders expect support retests and James Wynn opens a new short BTC position. Key points: Bitcoin is heading further away from its latest all-time highs as US trade tariffs dictate the mood. Traders are unfazed, arguing that BTC price action can retest even lower levels while maintaining its bull run. Read more

Australian Senator Gerard Rennick criticized Bitcoin, saying "you can't eat Bitcoin." A Bitcoiner replied, asking if he feels the same about the internet. Australian Senator Gerard Rennick has drawn criticism from the Bitcoin community following his remarks referring to Bitcoin as a Ponzi scheme and questioning the asset’s value because it can’t be eaten. “You can’t eat Bitcoin,” Rennick said in a May 23 X post, responding to an X user who questioned his stance after Bitcoin hit a new all-time high of $111,970 on May 22. “Bitcoin will ultimately go to $1 million dollars. Why because it’s a Ponzi scheme whereby BlackRock will pump more and more dollars into a supply constrained product,” Rennick said. Read more

Bitcoin traders are eyeing a gradual pullback after all-time highs, CZ refutes WSJ claim of ties to World Liberty Financial: Hodler’s Digest Binance co-founder and former CEO Changpeng CZ Zhao has pushed back against a report in The Wall Street Journal, calling it a hit piece filled with inaccuracies and negative assumptions.  In an X post, Zhao criticized the publications portrayal of his alleged involvement with World Liberty Financial, the decentralized finance project backed by a business entity affiliated with US President Donald Trump. Trumps sons Eric and Donald Jr. are involved in the management of the company. Zhao said the WSJ article portrayed him as acting as a fixer for the World Liberty Financial team and its co-founder Zach Witkoff during foreign trips. Read more

Bitcoin is on track for over $400 billion in investment inflows by 2026, as ETFs, governments, and corporations could increasingly adopt BTC as an investment asset. Key takeaways: Spot Bitcoin ETFs have already surpassed gold ETFs in early growth, with projections of $100 billion in annual inflows by 2027. Publicly listed companies and nation-states currently hold nearly 1.7 million BTC, pointing to long-term confidence. Read more

A Bitcoin executive claims the exodus from fiat assets has "already begun," and Bitcoiners still underestimate how much Bitcoin treasury companies will ultimately hold. Moon Inc. head of Bitcoin strategy Jesse Myers says that Bitcoin holders are underestimating the significant amount of Bitcoin that corporations will accumulate by 2045. “Bitcoin Treasury Companies will hold 50% of all BTC, way more than most Bitcoiners are prepared for,” Jesse Myers said in a May 23 X thread. Myers further forecasted that Michael Saylor’s Strategy will own $70 trillion worth of Bitcoin (BTC) by 2045, “making it by far the most valuable company in the history of the world.” At the time of publication, Strategy holds 576,320 Bitcoin, worth approximately $62.24 billion, according to Saylor Tracker. Read more

BlackRock’s IBIT topped all US-based exchange-traded funds (ETFs) in inflows on May 22 following Bitcoin’s rally to a new all-time high above $110,000. On May 23, Bloomberg ETF analyst Eric Balchunas reported that IBIT attracted $877.18 million in inflows that day, outpacing traditional heavyweights like Vanguard’s VOO, which tracks the S&P 500. VOO, typically a […] The post BlackRock’s IBIT leads all US ETF inflows following Bitcoin’s historic rally to new ATH appeared first on CryptoSlate.

Governor Greg Abbott posted to his official X account on May 22, roughly a day after the legislature passed a bill to create a strategic Bitcoin reserve in Texas. Texas Governor Greg Abbott has signaled support for a bill recently passed by the state House of Representatives that would establish a strategic cryptocurrency reserve. In a May 22 X post, Abbott posted a Techstory article about Texas state lawmakers’ efforts to create a Bitcoin (BTC) reserve. The story pointed out that the decision for the passage of SB 21, the bill in question, now rests on Abbott’s shoulders, roughly three months after it was introduced.  Since taking office, Abbott referred to himself as a “crypto law proposal supporter” in 2021 and suggested that he would support policies to establish Texas as a “crypto capital” in 2024. Texas was one of a handful of state-level governments that proposed setting up a strategic crypto reserve after the 2024 federal elections.    Read more

Despite Bitcoin (BTC) reaching a new all-time high at $111,965.80 on May 22, retail adoption and on-chain gauges indicate speculative leverage has not stretched market conditions. VanEck head of digital assets research Matt Sigel shared App-store data compiled by Bloomberg Intelligence, showing crypto-platform downloads fell 14% year-over-year in April. Binance and Crypto.com downloads dropped 29% […] The post Indicators show retail remains sidelined as Bitcoin trades at new highs appeared first on CryptoSlate.

Bitwise and UTXO Management project that 20% of all Bitcoin (BTC) could migrate to institutional balance sheets by end-2026, according to a new report published by Bitwise and UTXO Management on May 23. The study, called “Exploring the Game Theory of Hyperbitcoinization,” models five demand channels for Bitcoin. Nation-states top the list with a $161.7 […] The post Bitcoin balance sheet adoption could hit 20% of BTC supply by 2026 appeared first on CryptoSlate.

Bitcoin price consolidation is expected after short-term traders realized $11.6 billion in profit, and Trump’s new tariff announcement spooks the market. Key takeaways: Short-term Bitcoin holders realized $11.6 billion in profit over the past 30 days, suggesting a potential pause or local top in the market. Technical indicators show cooling momentum as retail investor sentiment falls to a 90-day low and liquidity data points to price volatility. Read more

Rising institutional adoption, record inflows to the spot ETFs and Bitcoin’s strong performance are set to redefine BTC’s role in the modern portfolio. Key takeaways: Bitcoin’s performance in the current bull market and a new cohort of buyers reflect a maturing market and widening adoption. A 50% rise in hashrate and a 63% jump in Realized Cap highlight investors’ confidence in Bitcoin. Read more

BTC price action becomes "driven by headlines" as US tariff war woes spark a retreat to near $107,000 — where will Bitcoin find support? Key points: Bitcoin joins risk assets in a knee-jerk reaction to the latest instalment of the US trade war, this time focused on the EU. BTC price action dives up to 4% before recovering with $110,000 now a resistance level. Read more

Crypto derivatives wiped out more than $551 million in positions over the past 24 hours, according to Coinglass, with nearly 72 percent of the losses hitting long traders.The shake-out forced 162,994 traders out of their positions. The largest single hit was a $9.53 million BTC-USDT swap order on OKX. Longs accounted for about $395.5 million of the […] The post Over $550 million liquidated as Bitcoin whipsaws back to $110k appeared first on CryptoSlate.

Ledn will no longer lend out client assets to generate yield, opting instead to keep Bitcoin under full custody. Digital asset lender Ledn is transitioning to fully collateralized Bitcoin lending and discontinuing support for Ethereum, in moves designed to consolidate its BTC-focused business and further safeguard client assets against credit risks. In adopting a full custody structure for Bitcoin (BTC) loans, Ledn will no longer lend out client assets to generate interest, the company disclosed on May 23. Instead, Bitcoin collateral will remain under full custody by Ledn or one of its designated funding partners.  “This means assets aren’t rehypothecated, reused, or loaned out to generate yield,” Ledn co-founder and CEO Adam Reeds told Cointelegraph. Read more

Singapore-based AI firm Genius Group has resumed Bitcoin buys after a US court lifted a ban, boosting its BTC treasury by 40% with a 24.5 BTC purchase. Singapore-based artificial intelligence firm Genius Group has added more Bitcoin to its corporate treasury after being temporarily banned from doing so. In a May 22 announcement, Genius Group explained that it has resumed accumulating Bitcoin (BTC) following a favorable ruling by the US Court of Appeals. It follows Genius Group being temporarily barred from expanding its Bitcoin treasury after a US court order had banned it from selling shares, raising funds and using investor funds to buy more BTC. Genius Group announced it increased its Bitcoin Treasury 40% with the purchase of 24.5 BTC, worth around $2.7 million. The company now holds 85.5 BTC acquired for a total of $8.5 million, at an average price of $99,700 per coin. Read more

From a technical standpoint, Bitcoin is showing some signs of overheating, but onchain data suggests otherwise. Key takeaways: Bitcoin hit a new all-time high of $111,970 on May 22, but retraced to $110,700, with analysts noting mixed signals on market overheating. Funding rates and other metrics suggest a “healthy upward phase.” Read more

Bitcoin reached a new all-time high on May 22, pulling almost the entire supply into profit. Data from Checkonchain showed that 99.82 % of circulating Bitcoin sat above cost on May 21, up from 74.37% during the early April drawdown. The short-term cohort logged an even steeper swing after its supply in profit collapsed from […] The post Bitcoin supply near total profitability as institutional demand drives value flows appeared first on CryptoSlate.

Memecoin trading activity on Solana is tracking Bitcoin’s recovery, with the average daily trading volume rising 46% between April and May. According to Blockworks data, monthly trading volume for memecoins on Solana was $58.7 billion as of May 21, already over $1 billion higher than the volume registered in April. Additionally, memecoins accounted for 64.6% […] The post Solana memecoin average daily volume surges 46% in May, echoing Bitcoin’s recovery appeared first on CryptoSlate.

UK judges have redrawn the Bitcoin SV Lawsuit, ruling damages must reflect market prices shortly after the 2019 exchange delistings. Claims tied to hypothetical future highs are struck out, leaving only early sellers and locked-out users to seek compensation for verifiable losses. The post UK Judges Slam $11.9B Bitcoin SV Lawsuit – Proof of Losses Now Required appeared first on Cryptonews.

Strategy (formerly MicroStrategy) has unveiled plans to raise $2.1 billion via sales of its Series A Perpetual Strife Preferred Stock (STRF). According to the May 22 statement, the stock will be issued under an at-the-market (ATM) program. This structure allows Strategy to sell shares gradually, based on favorable market conditions like trading volume and price. […] The post Strategy seeks to raise $2.1 billion from STRF stock offering to bolster its Bitcoin holdings appeared first on CryptoSlate.