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On-chain analytics platform Santiment suggests that excessive buy-the-dip sentiment surrounding ETH could signal further short-term price declines, even as its price fell below $2,000 for the first time since March. Santiment noted that while sharp price drops typically induce fear, uncertainty, and doubt (FUD) among investors, the current mood is characterized by a growing expectation of a buying opportunity. The platform warned that when investor sentiment is overly optimistic, prices tend to fall further. A better buying opportunity may arise when genuine fear emerges in the market, Santiment added.

With South Korea's virtual asset taxation set to begin next January, the government is reportedly reviewing specific tax standards for different transaction types. The Maeil Business Newspaper has obtained a final research report from Changwon National University's Industry-Academic Cooperation Foundation that, for the first time, specifies tax standards for various crypto profit models previously considered a gray area. The research, commissioned by the National Tax Service, was conducted over five months from November of last year to March of this year. The report classifies crypto profit models into four types: staking, lending, airdrops, and hard forks. It defines staking and lending as "lending" transactions under the Income Tax Act. Consequently, interest-like profits from coin deposits are now likely to face a 22% separate tax annually, including local income tax.

MicroStrategy's (MSTR) Bitcoin holdings have fallen to an unrealized loss, BlockBeats reported. The company holds a total of 843,738 BTC at an average purchase price of $75,700. With BTC trading in the $73,400 range, MicroStrategy is currently sitting on an unrealized loss of about 3%, or approximately $1.92 billion.

Josh Stevens, Vice President of Engineering at prediction market Polymarket, has clarified that the company has no plans to implement Know Your Customer (KYC) procedures on its existing services. According to Cointelegraph, Stevens addressed reports that Polymarket was considering KYC by explaining that the company is launching a new beta product for a select group of users. He stated that the KYC process is solely for accessing this beta service during its initial testing period and emphasized that it will not be added to the main Polymarket website.

Digital asset manager Grayscale has predicted that Ethereum (ETH), Solana (SOL), BNB Chain (BNB), and Canton Network (CC) could be the primary beneficiaries of institutional capital as regulatory clarity for digital assets expands in the United States. In a report, Grayscale explained that the CLARITY Act and U.S. SEC guidelines are likely to spur growth in the tokenized asset and DeFi markets. The firm also noted that Avalanche (AVAX), Base, Arbitrum (ARB), Hyperliquid (HYPE), and Tron (TRX) could potentially benefit. Additionally, Grayscale suggested that BTC could also see gains, positioning it as one of the safest collateral assets.

A recent trend of Bitcoin flowing into exchanges while stablecoins flow out is triggering risk-off signals and intensifying market sell pressure, according to on-chain analyst Axel Adler Jr. He noted that as of May 26, the 30-day net inflow for Bitcoin reached 103,000 BTC, a reversal from a 300,000 BTC net outflow at the end of March. Conversely, the 30-day net outflow for stablecoins now stands at $153 million daily, shifting from a net inflow of $164 million at the end of April. Adler explained that when Bitcoin enters exchanges as stablecoins leave, it forms a "supply increase, demand decrease" structure commonly seen in risk-averse markets. He warned that if Bitcoin's net inflow remains above 100,000 BTC, the market could face a more significant correction.

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

Aave Labs, the developer behind the DeFi protocol Aave (AAVE), announced that its UK subsidiaries, Push Labs and Push Virtual Assets, have obtained registration as cryptoasset businesses from the UK's Financial Conduct Authority (FCA). This approval allows the companies to operate regulated cryptocurrency services and payment infrastructure in the United Kingdom.

South Korean crypto exchange Upbit has announced that it is temporarily suspending deposits and withdrawals for Monad (MON) due to a node synchronization issue.

Nasdaq-listed BitDigital (BTBT), a company focused on Ethereum (ETH) investment, announced it will provide a loan facility of up to $100 million to its subsidiary, WhiteFiber. According to The Block, the funds will be sourced in part or in full through a credit line backed by BitDigital's own ETH holdings.

According to Coinglass data, a total of $2.01 billion in short positions on major centralized exchanges will be liquidated if BTC breaks through $76,037. Conversely, a drop below $72,005 would trigger the liquidation of $661.60 million in long positions.

An analysis suggests a historical pattern where Bitcoin rebounds in the year after its returns lag behind the S&P 500, The Crypto Basic reported. According to the crypto trading platform Land Group, BTC has historically achieved excess returns in the year following a significant underperformance against the index. Land Group explained that in 2014, BTC's returns were 90 percentage points behind the S&P 500, but they outperformed the index by 68 p.p. in 2015. Similarly, after trailing by 68 p.p. in 2018, BTC's returns were 58 p.p. higher in 2019. More recently, after underperforming by 47 p.p. in 2022, it surpassed the S&P 500 by over 130 p.p. in 2023. The outlet noted that as of the end of 2025, BTC had underperformed the S&P 500 by 19.5%. Based on this pattern, Land Group and other industry observers believe there is a possibility that BTC will outperform the S&P 500 this year.

Blockchain company Cripco, which has been operating an NFT business with IPX, formerly Line Friends, has announced a collaboration with Minicoin and Creditcoin via Discord. Cripco explained that its community will merge into Minicoin's official channel, with the transition schedule and other details to be provided in a separate notice. The company added that a guide is being prepared for existing holders of Cripco assets like NFTs and IP3. The announcement has led to speculation that IPX may be effectively discontinuing its NFT operations.

Binance has announced the listing of CTR/USDT perpetual futures, scheduled for 9:30 a.m. UTC today. The contract will support up to 20x leverage.

Crypto analyst Murphy (@Murphychen888) has warned that overheated long positions in the perpetual futures market could lead to increased downward pressure. In a post on X, the analyst noted that long traders are currently paying short traders approximately $390,000 per hour in funding fees. This figure is significantly higher than the recent seven-day average of $220,000, indicating a clear dominance of long positions. Murphy added that the seven-day average funding rate has remained positive since turning from negative on May 12, with the overheating trend intensifying recently. He explained that the high cost of maintaining long positions could compel some traders to voluntarily close their positions to avoid the expense. If prices fall further and break key support levels, it could trigger a cascade of forced liquidations, amplifying the downward pressure. Murphy advised caution with leveraged trading, noting that futures markets are more difficult to navigate while spot demand and on-chain activity have slowed considerably.

Dunamu, the operator of South Korean crypto exchange Upbit, has appointed Do Gyu-sang, a former vice chairman of South Korea's Financial Services Commission, and Lee Sang-gu, a professor of computer science at Seoul National University, as outside directors, Financial News reported. The company also named Park Hyun-joong, its head of global cooperation with prior experience at Danal, Samsung Electronics, and Meta, as an inside director. These appointments were approved at an extraordinary shareholders' meeting on May 28.

As the price of Ethereum has fallen below $2,000, ETH futures open interest (OI) has reached an all-time high, signaling a deepening of bearish sentiment in the market, CoinDesk reported. Markus Thielen, founder of 10x Research, explained that market expectations for ETH's profit structure have recently weakened, while the competitiveness of its staking yields has diminished due to high government bond yields. He noted that while Bitmine (BMNR) had been a key buyer, its pace of accumulation has slowed noticeably. In contrast, ETH futures open interest has increased for three consecutive days to a record 16.39 million ETH, valued at $32.5 billion. Thielen concluded that the combination of falling spot prices with rising OI, along with a negative seven-day cumulative volume delta (CVD), suggests the market is experiencing net selling and an expansion of short positions.

Cryptocurrency market maker Wintermute announced via X that it has donated $200,000 to a Quadratic Funding (QF) round for Ethereum (ETH) security projects. The move follows a recent statement by Ethereum founder Vitalik Buterin that he would narrow the Ethereum Foundation's (EF) core values to Censorship Resistance, Open Source, Privacy, and Security (CROPS). In its announcement, Wintermute noted that security infrastructure is used by nearly all participants but remains a chronically underfunded area, and urged the industry to join the effort. The QF round, which concluded on May 12, was the first initiative by TheDAO Security Fund, a fund established with unclaimed ETH from the 2016 TheDAO hack.

Binance is hiring an engineering lead in South Korea to manage its trading systems. According to the company's LinkedIn page, the position is a full-time, remote role. CoinNess previously reported that Binance plans to acquire a license in South Korea through its acquisition of Gopax.

Decentralized derivatives exchange EdgeX (EDGE) has announced the official launch of EdgeX V2. This upgraded version is built on the EDGE Chain and features comprehensive system improvements in security, performance, transparency, and scalability. The platform supports 24/7 trading for a variety of derivatives, including South Korean stocks, U.S. stocks, and commodities, with 40 trading pairs currently listed. Additionally, EdgeX has initiated a "Trade to Own" season, allowing users to earn EDGE token rewards through their trading activities. The project also plans to use 100% of its net profits to buy back EDGE tokens, aiming to align its long-term growth with returns for traders and token holders.

A whale associated with BIT (formerly Matrixport) has opened a 20x leveraged long position totaling 500.01 BTC ($36.4 million) via a new address, according to Lookonchain. The same whale is currently facing a $33.86 million loss on a separate 120,000 ETH ($237 million) long position.

Newly appointed Federal Reserve Chairman Kevin Warsh described Bitcoin as the new gold, Kalshi Crypto reported.

The total cryptocurrency market capitalization has fallen by approximately $80 billion in 24 hours, Cointelegraph reported. The sell-off was reportedly accelerated by a U.S. airstrike on Iran. According to the report, Nick Ruck, Director of Research at LVRG, analyzed that the downturn was driven by heightened geopolitical risks, concerns over crude oil supply disruptions, and a flight to safe-haven assets. He noted that while BTC and ETH have a long-term narrative as hedge assets, they still behave like risk assets during periods of increased uncertainty. Ruck added that the market is closely watching the risk of escalating conflict in the Middle East and its potential impact on inflation and Fed policy, leading to liquidations of leveraged positions as liquidity rapidly tightens.

The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 49.97% long, 50.03% short - Binance: 46.45% long, 53.55% short - OKX: 46.77% long, 53.23% short - Bybit: 47.64% long, 52.36% short

The following is a spot Cumulative Volume Delta (CVD) chart analyzing the order book for the BTC/USDT spot pair. The top section shows the Volume Heatmap, while the bottom displays the CVD. - Volume Heatmap (Top): This tracks the volume of trades at specific price levels. The background color brightens when the price remains in a certain range for an extended period or moves significantly. These brighter areas can indicate potential support and resistance levels. - Cumulative Volume Delta (CVD) (Bottom): This indicator represents buy and sell orders categorized by trade size. As buy orders for a given category increase, the corresponding colored line rises. - Yellow line: Orders between $100 and $1,000 - Brown line: Large orders between $1 million and $10 million