Analyst Murphy has observed that during the bear market bottoms of February 2019 and January 2022, the number of Bitcoin (BTC) in loss was approximately 10.6 million. According to ChainCatcher, if the current bear market follows this pattern, the bottom price could be around $60,000. When the amount of BTC in circulation reaches a critical loss threshold, supply may become exhausted, making it difficult for prices to fall further. On February 5, 2026, when BTC fell to $60,000, the loss amount was nearly 9.93 million. If it returns to 10.6 million, the current BTC holding structure's loss amount may coincide with previous bear market bottoms.

Binance Wallet announced on X that Binance Alpha will be the first platform to feature Solstice (SLX) on May 25. Eligible users will have the opportunity to claim their airdrop using Binance Alpha Points on the Alpha Events page once trading opens. This initiative marks the introduction of Solstice (SLX) to the platform, providing users with a new digital asset to explore. The airdrop will be accessible to users who have accumulated sufficient Binance Alpha Points, allowing them to participate in the event. This approach aims to engage the community by offering rewards to active participants. Further details regarding the airdrop and trading specifics are expected to be announced soon. Users are encouraged to monitor Binance’s official channels for the latest updates on the event and any additional information that may be released.

A new bipartisan bill introduced in the US House of Representatives would establish a formal strategic Bitcoin reserve for the US government — but with a significantly more conservative structure than previously proposed legislation, dropping the ambitious target of purchasing 1 million Bitcoin in favor of a 20-year lock-up on existing government holdings and a budget-neutral approach to any future accumulation. The American Reserve Modernization Act of 2026, known as ARMA, was introduced by Representatives Nick Begich and Jared Golden. It represents the most concrete legislative step yet toward formalizing the US government's Bitcoin holdings as a strategic national asset — while deliberately avoiding the fiscal commitments that made earlier proposals more politically contentious. What ARMA proposes Under ARMA, all Bitcoin currently held by the US government — primarily seized through criminal and civil forfeiture proceedings — would be placed into a strategic reserve and locked for a minimum of 20 years. During that period, the Bitcoin cannot be sold, exchanged, auctioned, mortgaged, or otherwise disposed of under any circumstances. After the 20-year lock-up period expires, the Secretary of the Treasury may recommend selling up to 10% of reserve assets within any two-year window — a gradual and limited release mechanism designed to prevent the kind of large-scale government Bitcoin sales that have historically created downward price pressure when seized assets were auctioned. The bill also requires federal agencies to disclose all digital asset holdings within 60 days of enactment, implement quarterly reserve proof disclosures, conduct independent third-party audits of Bitcoin holdings, and submit to congressional oversight — transparency mechanisms designed to give the public and lawmakers ongoing visibility into the size and security of the reserve. How ARMA differs from the BITCOIN Act The key distinction between ARMA and the previously proposed BITCOIN Act is the elimination of a specific purchase target. The BITCOIN Act had called for the US government to acquire 1 million Bitcoin within five years — a proposal that generated significant attention but also significant political resistance given the fiscal implications of purchasing approximately $75 billion to $80 billion worth of Bitcoin at current prices. ARMA takes a different approach. Rather than requiring new purchases, it focuses on formalizing and protecting existing government holdings while instructing the Treasury and Commerce Departments to study ways to increase holdings through budget-neutral means — methods that would not require direct congressional appropriations. That framing makes the bill considerably easier to advance politically, removing the most contentious fiscal element while preserving the strategic intent. A separate independent digital asset inventory would also be established under the bill to manage non-Bitcoin crypto assets held by the federal government — creating a parallel structure for the broader digital asset holdings that the government has accumulated through forfeiture. Why the 20-year lock-up matters The 20-year holding requirement is the bill's most significant structural feature. It directly addresses one of the primary criticisms of government Bitcoin holdings — that seized assets would eventually be sold into the market through auctions, creating recurring supply overhangs. By legally prohibiting disposal for two decades, ARMA would effectively remove the US government's estimated Bitcoin holdings from market supply for a generation. The US government currently holds an estimated 200,000 or more Bitcoin from various forfeiture cases, including the Silk Road seizure and the Bitfinex hack recovery. At current prices around $74,720, those holdings represent approximately $15 billion in assets. Locking that supply away for 20 years while simultaneously signaling that the government views Bitcoin as a strategic reserve asset sends a meaningful long-term signal to markets — even without any new purchases. Market implications ARMA's introduction arrives at a moment when Bitcoin is trading at monthly lows near $74,720, ETF outflows have accelerated, and sentiment sits firmly in Fear territory. The bill does not provide an immediate price catalyst — it is early-stage legislation that faces a long road through committee, full chamber votes, Senate consideration, and presidential signature before becoming law. But its bipartisan sponsorship and its deliberate avoidance of the politically difficult purchase mandate make it a more viable legislative path than its predecessors. If ARMA advances, it would represent the first formal statutory recognition of Bitcoin as a US strategic reserve asset — a development with long-term institutional significance that goes beyond the immediate price impact of any single week's trading, according to The Block.

Claude, Artificial Intelligence, Technology: Saving 300 Million Tokens in a Week: Anthropic Engineer's Claude Code Caching Guide (Jinse Finance) – Enabling continuous cache reuse and reducing redundant calculations in long sessions.

Iran's Foreign Ministry spokesperson has stated that substantial differences persist between the United States and Iran. According to NS3.AI, Iran's Foreign Minister recently engaged in a second round of discussions with Pakistan's Army Chief of Staff, following initial talks focused on Iran's proposals.

US spot Bitcoin ETFs have recorded approximately $1.26 billion in cumulative net outflows over the past six trading days, with Bitcoin now trading around $74,720 after failing to hold above $80,000 in May. The scale of the redemptions has intensified bearish sentiment across crypto markets — but crypto analytics platform Santiment is making a contrarian case: that the outflows may represent a buying opportunity rather than a warning sign. Santiment's contrarian read: retail impatience, not smart money exits Santiment argued in a recent report that ETF fund flows reflect retail sentiment more than changes in institutional or smart money positioning. In the firm's view, the current wave of outflows is being driven by retail investors losing patience after Bitcoin's failure to sustain a move above $80,000 — not by the kind of coordinated institutional exit that typically precedes deeper structural declines. The firm noted that historically, sustained ETF outflows have often corresponded to phases that are "suitable for patient accumulation" rather than genuine market panic — periods where surface-level selling pressure masks underlying demand from longer-term holders who are quietly absorbing supply at depressed prices. If Santiment's framework is correct, the current outflow wave — however alarming in headline terms — may be closer to a sentiment washout than a structural breakdown, creating the conditions for a recovery once retail sellers are exhausted. The mainstream view: outflows signal further downside Santiment's contrarian interpretation diverges sharply from the consensus. Most analysts continue to treat sustained spot Bitcoin ETF outflows as a reliable indicator of weakening institutional sentiment and a precursor to further price pressure. The ETF holder base, which entered primarily through the 2024 and 2025 inflow waves, has a well-documented tendency to sell aggressively when prices approach their average cost basis — a dynamic K33 Research identified as a key driver of the current outflow acceleration near the $83,000 breakeven level for many ETF holders. With Bitcoin now at $74,720 — below the $76,000 and $75,000 support levels analysts had flagged as critical — the mainstream view that outflows signal further downside has so far been borne out by price action. Seyffart's longer-term frame: $60 billion in cumulative inflows Bloomberg ETF analyst James Seyffart offered a third perspective that sits between the two. Seyffart noted that cumulative net inflows into spot Bitcoin ETFs since their January 2024 launch have approached $60 billion — a figure that has essentially recovered the impact of approximately $9 billion in outflows that occurred between last October and this February. In that context, the current $1.26 billion six-day outflow is a relatively modest disruption to a much larger and more durable inflow trend. Seyffart also expects the scale of ETF inflows to reach new all-time highs as more ETF products launch in the future — citing the expanding product pipeline across issuers and asset classes as a structural driver of continued institutional demand that the current outflow wave does not fundamentally alter. What it means for Bitcoin now The three perspectives on the current outflow data — Santiment's contrarian buy signal, the mainstream bearish read, and Seyffart's long-term structural optimism — reflect genuine uncertainty about whether Bitcoin's break below $75,000 marks a tradeable bottom or the beginning of a deeper move toward the $71,000 to $73,000 support zone analysts have identified as the next meaningful floor. What all three perspectives share is an acknowledgment that the current environment is uncomfortable. Whether that discomfort resolves as a buying opportunity for patient capital or as the prelude to further downside will depend on the same variables that have driven Bitcoin's performance all month — the trajectory of inflation data, Federal Reserve policy signals from the new Warsh-led Fed, and the geopolitical situation in Iran that has kept oil elevated and risk appetite suppressed throughout May.

Law, SpaceX, Regulation, CSRC Penalties Tiger Brokers/Futu/Changqiao: Is the Era of Cross-Border US Stock Speculation Over? Golden Finance: What have the crypto KOLs been talking about in the past 24 hours?

Google, artificial intelligence, technology. I used Google Vibe to code an Android app called Golden Finance. It's incredibly fast, but also incredibly rough.

Instead of issuing local currency stablecoins from scratch, it would be better to add a foreign currency denominated layer on top of the US dollar stablecoin, allowing users to enjoy the liquidity of the US dollar while also being able to use their local currency for accounting.

When compliant cross-border channels are blocked one by one, where will the funds that still yearn to allocate global assets, participate in the pre-IPO pricing of companies like SpaceX, and trade any asset at any time and place go?

Kevin Warsh was sworn in as head of the Federal Reserve on Friday. His extensive criticism of current Fed officials, his interest rate-cutting strategy, and his relationship with US President Trump have propelled him to the top of the race to lead the Fed.

If you had to describe this year's meme scene in one word, "attention economy" wouldn't be enough. The key question this year is: who is distributing attention?

At 11 p.m. Beijing time on May 22, Kevin Warsh, with his hand on the Bible, was sworn in as the 17th Chairman of the Federal Reserve in the presence of Supreme Court Justice Thomas, officially taking over the helm from his predecessor, Jerome Powell, who had led the ship for eight years.

Jinse Finance launches its cryptocurrency and blockchain industry daily news bulletin, "Jinse at 8 AM," issue 3065, providing you with the latest and fastest news on the digital currency and blockchain industry.

On May 21, 2026, during the global launch livestream of SpaceX Starship V3, Wang Chun, co-founder of F2Pool, stood on Bouvet Island, the most remote island in the South Atlantic, and announced that he would soon command Starship to carry out the first manned interplanetary mission.