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While Bitcoin has rebounded past $77,000, the market remains cautious about a full trend reversal, CoinDesk reported. Alex Kuptsikevich, an analyst at FxPro, noted that BTC has found support near its 50-day simple moving average (SMA) at $76,000 and that its mid-term direction will likely be decided in the coming days. He identified the next resistance level around $81,000, near the 200-day moving average. Meanwhile, Naeem Aslam, Chief Investment Officer at Zaye Capital Markets, said that while short-term pressures like spot ETF outflows and macroeconomic uncertainty persist, long-term factors such as regulatory clarity and institutional inflows support the market. Aslam also pointed to President Donald Trump's recent directive to review payment network access for fintech and crypto firms as a favorable signal.

K33 Research has projected that Bitcoin's plunge to $60,000 in February marked the bottom for this cycle, with a moderate bull market similar to that of March-April 2025 expected to follow, The Block reported. Vetle Lunde, an analyst at the crypto market research firm, explained that past bear market rallies were typically followed by further declines due to surges in risk appetite and leveraged positions. However, he noted that the recent market pattern differs. Lunde pointed out that a total of 189 days passed between the break below the 200-day moving average last November and its retest this month, a much longer period than in previous cycles. He concluded that from a cycle perspective, this pattern is less like a short-term bear market rebound and more closely resembles the bull market conditions of March-April 2025.

Richard Teng, CEO of Binance, stated on X that stablecoins are increasingly becoming part of core financial infrastructure. He added that they are quietly establishing themselves as a major rail for global value transfer. Teng noted that Asia accounts for two-thirds of the world's stablecoin settlement volume, driven by progressive frameworks in countries like Japan, Hong Kong, and Singapore.

The Spot CVD chart analyzes the order book for the BTC/USDT spot pair. The top section shows a Volume Heatmap, while the bottom displays the Cumulative Volume Delta (CVD). - The Volume Heatmap at the top tracks the scale of trading volume at specific price levels. The background color brightens when the price remains in a certain range for an extended period or makes a significant move. Brighter areas may act as potential support or resistance levels. - The Cumulative Volume Delta (CVD) indicator at the bottom shows buy and sell orders categorized by trade size. As buy orders increase, the corresponding colored line rises. The yellow line tracks orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.

As Bitcoin's price has fallen for five consecutive days, traders on Bitfinex have been increasing their leveraged long positions, CoinDesk reported. The volume of long positions on the platform has risen to 80,636 BTC, the highest level in approximately two and a half years. Since the beginning of the year, BTC long positions on the exchange have grown by about 10%, while the price of Bitcoin has fallen by around 13% over the same period. The market interprets this as a sign that large-scale investors are consistently accumulating BTC during the market correction. Historically, long positions held by Bitfinex whales tend to expand when the market is bearish or investor sentiment is weak, and contract near market peaks.

Open-source cryptography developer Zama has acquired TokenOps, an institutional token distribution management platform, The Block reported. Zama plans to use the acquisition to build a private token distribution infrastructure leveraging Fully Homomorphic Encryption (FHE) technology. This will enable details such as token allocation sizes, unlock schedules, and recipient information to be processed in an encrypted state on public blockchains. Zama previously raised $57 million in a Series B funding round last June, led by Pantera Capital and Blockchange, at a valuation of $1 billion.

Timothy Massad, former chairman of the U.S. Commodity Futures Trading Commission (CFTC), has stated that while the U.S. government publicly opposes a central bank digital currency (CBDC), it continues to hold related discussions internally. In an interview with CoinDesk at the 2026 Digital Money Summit in London, Massad said that a CBDC is ultimately inevitable and that the U.S. is reviewing it privately. He added that even if the Fed Chair does not publicly mention a CBDC, discussions are ongoing toward building a government-supported on-chain payment infrastructure. President Donald Trump previously expressed his opposition to a CBDC during his presidential campaign. In March, a bill containing a provision to prohibit the Fed from issuing a digital dollar passed the Senate with an 89-10 vote. However, this provision is part of a separate housing bill and is currently awaiting a vote in the House.

A whale investor who opened a 5x leveraged long position on 1.38 million HYPE, valued at $67.4 million, in November last year is now sitting on approximately $14 million in unrealized profit as the token's price has climbed to $49, EmberCN reported. The investor, who entered at an average price of $38.6, has maintained the position for seven months, paying around $2.38 million in cumulative funding fees during that time.

Harvard Management Company, which manages Harvard University's endowment, has lost over $150 million (225.8 billion won) on its cryptocurrency investments over the past year, according to on-chain analyst Ai Yi. The firm first made an indirect investment in crypto-related assets during a market upswing in the second quarter of last year and expanded its position in the third quarter as the price of BTC neared its all-time high. At the time, BlackRock's spot Bitcoin ETF (IBIT) was its largest holding, comprising roughly 20% of the portfolio. In the fourth quarter, the endowment manager sold some of its Bitcoin ETF holdings and purchased Ethereum (ETH) ETFs. However, it reportedly sold its entire ETH ETF position at a loss just one quarter later.

Andrew Kang, Chief Financial Officer (CFO) of Strategy (MSTR), the largest corporate holder of Bitcoin, has sold approximately $930,000 worth of the company's stock. According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Kang sold 5,597 shares acquired through the vesting of Restricted Stock Units (RSUs). The average selling price was $165.78 per share.

AllUnity, a stablecoin company jointly established by Galaxy and others, plans to launch a stablecoin pegged to the Swedish krona (SEK), CoinDesk reported. The stablecoin, named SEKAU, will be 100% backed by Swedish krona reserves and issued in compliance with the European Union's Markets in Crypto-Assets (MiCA) regulation. The company is targeting a launch this June, pending final regulatory and operational approvals.

Stablecoin issuer Circle has announced official support for USDC and its Cross-Chain Transfer Protocol (CCTP) on the Stellar (XLM) network.

According to on-chain analyst ai_9684xtpa, an address suspected of belonging to a16z Crypto, the cryptocurrency investment arm of Silicon Valley venture capital firm Andreessen Horowitz (a16z), withdrew 44,500 HYPE worth $2.16 million from Gate.io a short while ago. The analyst previously noted that a16z Crypto may be the largest external holder of HYPE. Withdrawals from exchanges are typically interpreted as an intention to hold.

Cryptocurrency market analysis firm Kaiko announced today that it has acquired Cometh, a European decentralized finance (DeFi) infrastructure company. Cometh holds a Crypto-Asset Service Provider (CASP) license under the European Union's Markets in Crypto-Assets (MiCA) regulation. The acquisition will integrate Cometh's blockchain engineering and compliance capabilities into Kaiko's existing infrastructure. Kaiko COO Elodie de Marchi-Chouard said the move provides the engineering and regulatory foundation to meet institutional demand for on-chain capital market infrastructure, noting that clients are demanding standards on par with traditional financial markets.

South Korean crypto exchange Bithumb announced that it will temporarily suspend deposits and withdrawals for Filecoin (FIL) starting at 9:00 a.m. UTC today to support an upcoming network upgrade.

According to CoinGlass data, a drop in BTC below $75,035 could trigger the liquidation of $1.08 billion in long positions on major centralized exchanges. Conversely, a surge above $78,037 would lead to the liquidation of $543.31 million in short positions.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

Hanwha Investment & Securities will acquire an additional stake in Dunamu, the operator of the South Korean crypto exchange Upbit, News1 reported. The company announced on May 20 that its board of directors approved the cash acquisition of 1,361,050 Dunamu shares for 597.8 billion won ($439.6 million). The purchase, scheduled for June 15, represents 28.91% of Hanwha's consolidated equity capital as of the end of last year. Following the acquisition, Hanwha's total holdings in Dunamu will increase from 5.94% to 9.84%, totaling 3,430,500 shares.

Whale Alert reported that 390,000,040 USDT has been transferred from Spark to HTX. The transaction is valued at about $390 million.

Cryptocurrency analyst Murphy (@Murphychen888) has identified a healthy correction range for Bitcoin (BTC) between approximately $66,000 and $78,000, based on Glassnode's UTXO Realized Price Distribution (URPD) data. In a post on X, the analyst noted that on-chain data from May 15 showed the most significant change of hands occurred at the $66,000 and $78,000 levels. In contrast, little trading took place between $80,000 and $82,000, despite the price remaining in that range for about a week. Murphy added that on May 19, even as the price fell, volume at the $78,000 level increased. Furthermore, the amount of BTC held at an average purchase price of around $76,000 grew from approximately 200,000 BTC to 380,000 BTC, indicating that additional buying pressure emerged despite the price dipping below this cost basis. The analyst predicted that if more volume accumulates in this range, it will form a stronger support level than before.

BIT (formerly Matrixport) has obtained an investment business license and Virtual Asset Service Provider (VASP) registration from the British Virgin Islands (BVI) Financial Services Commission (FSC), according to a PR Newswire press release. The approval was secured through its affiliate, Matrixport Technologies. This authorization allows Matrixport Technologies to arrange investment product transactions for institutional and professional investors and to provide regulated virtual asset services.

South Korean crypto exchange Coinone announced it will delist Portal To Bitcoin (PTB) at 6:00 a.m. UTC on June 22. The token was placed on a delisting watchlist on March 23 after its issuer failed to disclose or arbitrarily changed important information that could significantly impact the asset's value. The exchange explained that after reviewing submitted materials, it found the reasons for the watchlist designation had not been resolved.

South Korean crypto exchange Bithumb has yet to release a concrete blueprint for the 100 billion won ($74 million) customer protection fund it announced in February, ZDNet Korea reported on May 20. The exchange pledged to establish the permanent fund following an incident involving the incorrect distribution of Bitcoin. To date, details regarding the fund's creation timeline, accumulation method, and operational standards have not been made public. In response, Bithumb stated that it is currently preparing the fund's structure and is considering the overall situation.

Ethereum founder Vitalik Buterin has shared several short-term goals to address the network's lack of native privacy, responding to criticism from a user on X. Buterin outlined the following objectives: - Supporting privacy protocol transactions through Account Abstraction (AA) and a censorship resistance mechanism (FOCIL). - Restructuring frame transaction structures to support independent processing via the new EIP-8250 improvement proposal. - Enabling simultaneous withdrawals from shared senders in privacy protocols by using nullifiers as keys. Buterin added that EIP-8250 is slated for inclusion in the next network upgrade, Hegota. He also noted that parallel privacy efforts are underway for the data query stage, including solutions like Kohaku and Private Read.

Thirty-seven major European banks have joined a joint venture named Qivalis to issue a euro-based stablecoin, challenging the dominance of dollar-pegged stablecoins, the Financial Times (FT) reported. According to the FT, 25 institutions, including Intesa Sanpaolo, Rabobank, and ABN Amro, recently joined the venture. Qivalis aims to leverage the participation of these institutions and their existing networks to boost the stablecoin's real-world adoption and gain a competitive advantage over other euro stablecoins.