BlackRock Bitcoin ETF outflow signals macro shift for traders

BlackRock Bitcoin ETF outflow became the story traders could not ignore on Wednesday, when the iShares Bitcoin Trust, or IBIT, shed $527.84 million in a single day. For a fund that built its reputation on relentless demand, the move landed hard: it was the second-largest outflow day on record, just below the funds $528.30 million exit on January 30.  That jolt did not happen in isolation. Bitcoin spot ETFs have now logged eight straight days of cumulative net outflows, a sharp turn for a market that helped define Bitcoins institutional era. At the time of writing, monthly outflows stood at $2.07 billion.  What makes the reversal stand out is not only the size of the selling. It is the timing. The recent shift in ETF flows lines up with a change in macro expectations, especially around inflation and Federal Reserve rate cuts, rather than with any clearly stated break in conviction about Bitcoin itself.  IBIT logs a near-record BlackRock Bitcoin ETF outflow  SoSoValue data showed BlackRocks iShares Bitcoin Trust posted $527.84 million in outflows on Wednesday. That made IBIT its second-worst day on record, trailing only the $528.30 million outflow recorded on January 30.  For a product that had spent much of its life acting

05-28

Euro hesitates above 0.8650 against the British Pound as Middle East tensions rise

The Euro (EUR) is trading flat against the British Pound (GBP) on Thursday. EUR/GBP bulls are struggling to find acceptance above 0.8660 following a 0.4% rally over the previous two days, although downside attempts remain contained above 0.8655 so far.  Speculative demand for the common currency is faltering on Thursday as market sentiment sours and Oil prices jump with tensions between the US and Iran escalating again.  ECB-BoE monetary policy divergence  The Euro, however, remains fairly steady, favoured by monetary policy divergence between the European Central Bank (ECB) and the Bank of England (BoE). Futures markets are pricing a 91% chance that the ECB will hike interest rates at its June 11 meeting, according to data by the ECB Watch Tool. The BoE, on the contrary, is not expected to tighten its monetary policy anytime soon.  The ECB Chief Economist, Philip Lane, warned on Thursday that inflationary consequences from the US-Iran war will outlast the conflict and that the bank must prevent the general belief that inflation will remain high for a long time to take hold.  Later on Thursday, ECB President Christine Lagarde is expected to take part in a central bankers meeting, and her comments on monetary policy will be listened to with

05-28

XLM Jumps 14% as Stellar Reclaims Long-Term Channel Midline

Stellar (XLM) surged more than 14% in the past 24 hours. The move reclaimed the midline of its long-term parallel channel. Price also broke above a key descending trendline.  The Layer 1 network is now trading near $0.169 with a market capitalization above $5.6 billion. Multiple charts point to follow-through. X traders are already calling for a path to $0.60 on the weekly timeframe.  Four-Hour Chart Breaks Descending Trendline  The four-hour XLM chart shows a clean break above a descending trendline. That trendline ran from the April 21 swing high near $0.185. The move came on a sharp volume spike. The largest green candle of the recent range pushed price back above $0.165.  XLM 4-hourly chart / Source: TradingView  The Relative Strength Index (RSI) reads close to 75. That sits in overbought territory and suggests the rally may be short-term extended. The Moving Average Convergence Divergence (MACD) histogram prints rising green bars. That signals expanding bullish momentum.  A pullback into the $0.165 area would give buyers a more measured entry zone. If sellers push the price below the channel midline, the support band at $0.14 to $0.15 becomes the next test. That level previously triggered the current leg of the Stellar rally.  Daily Chart Reclaims Channel Midline

05-28

Pennsylvania Seeks Injunction Against AI Maker Whose Chatbot Brazenly Claims To Be A Psychiatrist Licensed To Practice Medicine

In todays column, I examine a recent court filing seeking an immediate injunction to prevent an AI maker from allowing its generative AI or large language model (LLM) to claim it is a psychiatrist licensed to practice medicine.  Pennsylvania has filed this quite noteworthy lawsuit. They are doing so against the popular Character.AI and are asking the courts to stop the company Character Technologies from allowing its AI to seemingly make false claims about being a psychiatrist. This is the latest state-level step to put a dent in the unbridled permitting of AI giving out mental health advice that is wildly over-the-line.  Lets talk about it.  This analysis of AI breakthroughs is part of my ongoing Forbes column coverage on the latest in AI, including identifying and explaining various impactful AI complexities (see the link here).  AI And Mental Well-Being  As a quick background, Ive been extensively covering and analyzing a myriad of facets regarding the advent of modern-era AI that produces mental health advice and performs AI-driven therapy. This rising use of AI has principally been spurred by the evolving advances and widespread adoption of generative AI. For an extensive listing of my well over one hundred analyses and postings, see the link here

05-28

Bitwise’s $19M HYPE buy strengthens bull case, but ONE risk remains

Institutional interest in Hyperliquid from traditional investors continues to grow, with recent data showing that Spot U.S. HYPE exchange-traded funds [ETFs] have already accounted for 1.04% of the assets total market capitalization, currently valued at $15.63 billion.  This compares favorably to Bitcoin and Ethereum ETF penetration at 0.59% and 0.41%, respectively.  Despite broader market struggles, Hyperliquid [HYPE] continues to hold above $60, with traditional investor participation playing a central role in sustaining that level.  Bitwise records a $19 million single-day HYPE purchase  Bitwise has recorded its largest single-day spot HYPE ETF purchase, according to data from SoSo Value for the trading session on the 26th of May.  The $19 million single-day purchase represented 93.15% of the total $20.45 million in HYPE ETF purchases recorded that day.  Trading volume from the Spot HYPE market showed bulls in full control during this period, with the total $22 million in volume largely absorbed by buyers in the ETF market.  Source: SoSoValue  Total HYPE volume has risen 44% in the past 24 hours to $1 billion, climbing alongside price and reinforcing the bullish grip on current sentiment. HYPE assets under management have now reached $30.5 million.  Bitwise CEO Hunter Horsley commented on the development, noting that  Volume today was ~$22M, which means almost all

05-28

Polymarket trader accused of making $1.2M using Google insider data

U.S. authorities have charged a Google software engineer with insider trading tied to prediction markets, as federal regulators continue tightening scrutiny around Polymarket and other event-based trading platforms.U.S. prosecutors and the CFTC have charged a Google engineer over alleged insider trading tied to Polymarket bets.Authorities said the trader used unreleased Google search trend data to place $2.7 million in prediction market wagers.  According to the U.S. Department of Justice, Google employee Michele Spagnuolo allegedly used confidential company information to place trades on Polymarket before Google publicly released its 2025 search trend rankings.  Prosecutors said the trades generated roughly $1.2 million in profit through a Polymarket account operating under the name “AlphaRaccoon.”  Court filings unsealed on Wednesday alleged that Spagnuolo placed 25 bets totaling about $2.7 million on markets linked to the most searched individuals on Google in 2025. Prosecutors claimed those bets targeted outcomes that Polymarket users had treated as unlikely before Google published the rankings in December.  Alongside the criminal case, the Commodity Futures Trading Commission filed a parallel civil complaint accusing Spagnuolo of insider trading violations in commodities markets. The agency said the case forms part of a growing enforcement focus on prediction-market activity involving confidential information.  Speaking in a statement released by

05-28

MEXC Deploys 1,000 BTC to Strategic Reserves in March-April Security Report

MEXCs security infrastructure intercepted and restricted 26,897 accounts tied to coordinated fraud within 60 days, an 18.9% increase from the previous reporting cycle. Threat intelligence engines mapped 6,903 malicious syndicates (up 33.6%), with the heaviest concentrations emerging from the Commonwealth of Independent States (CIS) and Indonesia, tracking 3,567 and 1,524 threat clusters, respectively. All identified entities were immediately banned across the platform to secure ecosystem liquidity and protect user capital.  Between March and April, MEXC handled 254 intelligence requests and 50 law enforcement freeze mandates. Through this collaborative infrastructure, leading to freezing 17,084,031 USDT in 47 threat cases, with 23 cases involving direct law enforcement action. All actions followed multi-jurisdictional laws to ensure compliance and fast response. MEXC resolved 819 deposit errors, recovering 863,127 USDT after thorough manual and on-chain checks during the period.  MEXC‘s deployment of the additional 1,000 BTC to its institutional reserves, has established a formalized dual-asset architecture for the Guardian Fund to leverage USDT to guarantee immediate operational liquidity, while the Bitcoin tranche functions as a macroeconomic anchor to preserve capital across market cycles. Concurrently, MEXC has initiated a mandate to aggressively scale the fund’s total capitalization from $100 million to $500 million over the next two years.

05-28

SUI Price Prediction: $2.00 Target Intact Despite $1.01 Hesitation

Technical Momentum Stalls at Critical Juncture  SUIs price action reveals a market caught between competing forces. The RSI at 45.13 sits in neutral territory while the MACD histogram flatlines at zero, creating the technical equivalent of a coin flip. Trading below both 7-day and 20-day moving averages but clinging to the 50-day SMA at $1.01 shows buyers lack conviction despite the support level holding.  The Bollinger Band positioning at 0.24 places SUI in the lower portion of its trading range, with the lower band at $0.92 acting as downside support. This compression often precedes significant directional moves, though Blockchain.news analysis suggests the current setup favors patient bulls over reactive bears.  Derivatives Market Reveals Hidden Strength  Smart money positioning contradicts surface-level weakness. Despite $113 million in open interest declining 5.53% daily, institutional traders maintain a 68% long bias compared to retails 64.5% long positioning. Both camps expect upside despite current technical hesitation.  Hourly candlesticks (about 96 bars), same endpoint as our cryptocurrency price pages. Numbers below refresh from 1-minute klines.  Full SUI price, calculator & analysis  The taker sell ratio at 0.87 indicates aggressive selling pressure overwhelming buyers in spot markets. However, the negative funding rate of -0.0055% creates an unusual dynamic where futures trade below spot prices,

05-28

UK Targets HTX Affiliate as Report Flags $7.6B Suspicious Crypto Flows

The UK sanctioned 18 entities connected to the “A7” network, while blockchain analytics firms Global Ledger and TRM Labs reported billions of dollars in Russia-linked crypto flows involving HTX. The sanctions include asset freezes and restrictions on British firms processing related transactions.  HTX Denies Russia Sanctions Claims  HTX pushed back against allegations tied to a new UK sanctions package after the British government accused affiliate Huobi Global S.A. of helping facilitate billions of dollars in transactions linked to Russias shadow financial network. The dispute started after the UK Foreign, Commonwealth and Development Office (FCDO) sanctions against 18 entities allegedly connected to the “” network, which authorities claim has been used to help Russia evade financial restrictions imposed following the war in Ukraine.  According to the UK government, there are “reasonable grounds to suspect” that Huobi Global S.A. provided financial services to A7 Limited Liability Company and Europe OU, both of which were included in the sanctions package. The move is one of the biggest enforcement actions yet targeting a cryptocurrency-related entity in connection with Russia sanctions evasion.  HTX quickly by distancing itself from the sanctioned entity. In a statement that was shared on X, the exchange argued that its operating platform functions independently from

05-28

Canadian Dollar: Rebalancing offers near-term relief – BNY

Geoff Yu at BNY highlights that Canadian Dollar (CAD) dynamics differ from the U.S., with equity-based rebalancing pointing toward CAD support as growth and allocation trends move opposite to the US Dollar. Fixed income steepening and poor CAD performance are seen amplifying CAD buying signals, suggesting some relief for the Canadian Dollar into month-end.  Canadian Dollar supported by flows  “Mathematically, our figures suggest that the unwinding of USD/CAD hedges – the discontinuation of forward USD selling against CAD on U.S. positions – played a big role in the dollars performance and some reversion is needed.”  “The only other equity-based rebalancing signal is in the CAD, where growth and asset allocation trends are pointing in the opposite direction.”  “In contrast, CAD buying is being amplified by similar steepening in bond markets on top of poor currency performance.”  “USD and CAD have again generated the same net selling and buying signals, though the dollars signal is far weaker, as poor bond performance offset dollar purchases. In contrast, CAD buying is being amplified by similar steepening in bond markets on top of poor currency performance.”

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