Crypto Market Dynamics: Bitcoin Short-Term Adjustment but Long-Term Bullish Institutional Investment as Market Makers

Market Observation

This morning, the price of Bitcoin fell below $105,000, with a net outflow of $359 million in Bitcoin spot ETFs, indicating a cooling of short-term market sentiment. However, the long-term bullish sentiment remains strong. Some analysts predict that the price of Bitcoin may break through $170,000 by the end of 2026. The founder of a certain company also holds an optimistic view, believing that companies incorporating Bitcoin into their balance sheets have a 90% chance of success within five years. The CEO of a stablecoin issuer disclosed that the company currently holds over 100,000 Bitcoins (worth more than $10 billion) and over 50 tons of gold, further reinforcing institutional confidence in Bitcoin.

Regarding Ethereum, although the recent price has retreated after reaching $2788, some analysts expect it may hit a historical high of $4000 to $5000 within this year. A digital asset manager from a certain bank is even more optimistic, predicting that the price will reach $4000 by 2025 and rise to $7500 by 2029. Currently, Ethereum needs to rise 85% to break through the historical high of $4878 from 2021.

Recently, a well-known asset management institution called for allocating 2% of investment portfolios to Bitcoin, triggering a new wave of institutional allocation. An analyst believes that as institutional funds flow in, Bitcoin is becoming an important asset allocation in the global capital market. There are precedents for institutional layout; for example, a certain technology company launched a "Bitcoin strategy" as early as 2020, and its holdings have reached 580,000 coins, with its stock price rising 12 times in four years. Its model has attracted investments from multiple financial institutional investors, indirectly betting on Bitcoin. In the Asian market, a well-known online gaming company in Hong Kong, supported by a trading platform, has cumulatively purchased 1,110 Bitcoins and 14,855 Ethers, with holdings profits exceeding $48 million, and its stock price has increased by 449% this year.

In addition, with the passage of the U.S. "GENIUS Stablecoin Act" and the implementation of Hong Kong's "Stablecoin Regulation Draft", the shift in regulatory attitude and the process of compliance have provided more convenience for institutional entry. Analysis suggests that institutions hoarding coins is not a short-term speculative behavior, but a strategic decision based on multiple structural factors. The correlation between Bitcoin and traditional assets has decreased, showing the potential to optimize the risk-return curve, and its digital gold characteristics have also become an important tool against inflation.

The altcoin market has recently shown new hotspots and pullbacks. A certain brand of plush toys has become a sensation in the international market, leading France, the UK, and Japan to temporarily suspend sales, driving the market cap of the related on-chain token to break 60 million USD, with an almost doubling increase within 24 hours. The popularity of a certain information tokenization protocol project has surged, and its upcoming Initial Attention Offering has become the focus of market attention. Additionally, a certain bankrupt exchange is expected to initiate the debt repayment process around May 30, which may release about 5 billion USD in stablecoin liquidity back into the market, potentially resonating with Bitcoin ETF funds and bringing new liquidity support to the market.

Key Data (as of May 30, 12:00 HKT)

• Bitcoin: $106,130 (year-to-date +18.39%), daily spot trading volume $36.871 billion
• Ethereum: $2,635.64 (Year-to-date -21.17%), daily spot trading volume is $21.445 billion
• Fear and Greed Index: 76 (Greed)
• Average GAS: BTC: 1.71 sat/vB ETH: 1.03 Gwei
• Market share: BTC 63%, ETH 9.5%
• 24-hour BTC long-short ratio: 0.9531
• Sector rise and fall: L2 down 7.2%; Meme down 8.73%
• 24-hour liquidation data: A total of 190,866 people were liquidated globally, with a total liquidation amount of $656 million, including $208 million in BTC liquidations, $108 million in ETH liquidations, and $30.91 million in SOL liquidations.
• BTC medium to long-term trend channel: upper channel line (107647.20 USD), lower channel line (105515.57 USD)
• ETH medium to long-term trend channel: upper channel line (2587.10 USD), lower channel line (2535.87 USD)

ETF Inflows (As of May 29)

• Bitcoin ETF: -$359 million, (10-day net inflow has ended)
• Ethereum ETF: +$91.9299 million (net inflow for 9 consecutive days)

Today's Outlook

• A trading platform will launch Assisterr AI (ASRR)
• Reminder: A certain bankrupt exchange will distribute over 5 billion USDT to creditors on May 30.
• Treasure Chain will officially shut down on May 30th, and users need to migrate their assets as soon as possible.
• Renzo (REZ) will unlock approximately 423 million tokens at 7 PM on May 30, accounting for 16.10% of the current circulating supply, valued at around 5.7 million USD.
• Kamino (KMNO) will unlock approximately 229 million tokens at 8 PM on May 30, accounting for 14.97% of the current circulating supply, worth about 15.1 million dollars.
• Optimism (OP) will unlock approximately 31.34 million tokens on May 31 at 8 AM, which is 1.83% of the current circulating supply, worth about 22.7 million USD.
• Sui (SUI) will unlock approximately 44 million tokens at 8 AM on June 1, accounting for 1.32% of the current circulation, worth about $154 million.
• ZetaChain (ZETA) will unlock approximately 44.26 million tokens at 8 AM on June 1, accounting for 5.34% of the current circulating supply, worth approximately 10.9 million USD.
• dydx (DYDX) will unlock approximately 8.33 million tokens on June 1 at 8 AM, representing 1.07% of the current circulation, valued at around 5 million USD.

Top 500 market cap biggest rises today: Pocket Network (POKT) rise 263.72%, WhiteRock (WHITE) rise 69.49%, Tellor (TRB) rise 35.21%, Gearbox Protocol (GEAR) rise 28.16%, Safe (SAFE) rise 28.03%.

Hot News

• A certain investor's Bitcoin long position worth $100 million was liquidated.
• Founder of a tech company: If Bitcoin is included in the balance sheet, the success probability in 5 years is 90%
• An analyst: Ethereum is expected to rise to $5000 this year, setting a new all-time high.
• An investment company disclosed its investment in stocks using the "digital asset treasury" strategy.
• The U.S. SEC released a policy statement regarding staking activities on PoS networks, clarifying that three types of staking activities do not constitute securities issuance.
• A certain NFT trading platform officially released a fully upgraded new version, which will airdrop tokens.
• CEO of a stablecoin issuer: the company holds over 100,000 Bitcoins and 50 tons of gold
• A certain encryption currency expert predicts that Bitcoin will reach 1 million dollars within 5 years.
• SOL Strategies invested $4.7 million to purchase 26,478 SOL and has now liquidated all Bitcoin holdings.
• A certain political figure predicts that Bitcoin holders in the United States will double, claiming that a considerable amount of Bitcoin is still held.
• A well-known person's son predicts that the Bitcoin price is expected to break through $170,000 by the end of 2026.
• A certain bankrupt exchange will distribute over $5 billion in stablecoins to creditors this Friday.
• A certain asset management giant: suggests allocating 2% of the investment portfolio to Bitcoin