Bitcoin fell to $108,000 during the day, with a decline of over 1.3%, but then rebounded to around $110,000. On-chain data shows that the Whale account James Wynn increased the position to $790 million Long Position (40x leverage), but currently has unrealized losses of $5.82 million. The technical analysis indicates that Bitcoin found support around $106,650, with a short-term resistance level at $110,000. If it breaks through, it may further test $113,000.

Bitcoin ETFs saw a weekly net inflow of $2.75 billion, but short-term speculative sentiment has cooled, with BlackRock's IBIT holding 651,600 BTC (approximately $71.3 billion).

Retail funds are accelerating their shift towards Bitcoin ETFs, while crypto hedge funds continue to lag behind in performance. Some fund strategies have failed, and the returns from funding rate arbitrage and volatility strategies have declined.

The U.S. House of Representatives plans to review the cryptocurrency market structure and stablecoin bill in June, with the Trump administration setting August 4 as the legislative deadline. The stablecoin bill (GENIUS Act) may be passed first.

According to media reports, Trump's media company DJT plans to raise $3 billion for cryptocurrency by issuing $2 billion in stock and $1 billion in convertible bonds, but this news has been denied by DJT.

From May 27 to 29, the 2025 Bitcoin Conference will be held at the Venetian Expo in Las Vegas. U.S. Vice President JD Vance will be the keynote speaker, and the conference will also explore various developments in the Bitcoin ecosystem, including Bitcoin Layer 2 solutions, the Lightning Network, and more.

Lee Jong-ryeol, the Deputy Governor of the Bank of Korea, stated on May 27 that the Bank of Korea plans to issue deposit-type tokens on a public blockchain network, which is a type of "stablecoin" that will be issued within the framework of central bank digital currency.

The Pakistani government has appointed Bilal Bin Saqib as the Special Assistant to the Prime Minister on Blockchain and Cryptocurrency, and plans to allocate 2000 megawatts of surplus electricity to Bitcoin mining and artificial intelligence centers to promote the development of infrastructure for the cryptocurrency industry and artificial intelligence.

The project Bitlayer, based on the Bitcoin ecosystem BitVM technology, announced a strategic partnership with three Bitcoin mining pools: Antpool, F2Pool, and SpiderPool, to jointly promote the implementation of BitVM Bridge.

The Dubai Land Department launched the real estate tokenization platform Prypco Mint on May 27, developed by Ctrl Alt, which splits physical properties into digital tokens on the blockchain. Investors can participate in the Dubai real estate market with a minimum investment of 540 USD.

The U.S. Securities and Exchange Commission's cryptocurrency working group met on May 27 with Nasdaq, Plume Network, and Etherealize to focus on the regulatory framework for security tokenization on public chains.

The SEC's cryptocurrency working group discussed the regulatory framework for security tokenization with Nasdaq and DeFi startups, proposing the establishment of a "regulatory sandbox" pilot to promote the compliance process.

In response to the Cetus vulnerability incident, Sui announced an investment of $10 million to strengthen security, with additional funds allocated for auditing and vulnerability bounty programs, emphasizing the security of the Move language.

Summary: The cryptocurrency space presents a multifaceted dynamic. On the one hand, some projects and enterprises are actively deployed, such as the Bank of Korea's plan to issue depository tokens, Pakistan to invest electricity for bitcoin mining, Bitlayer to cooperate with bitcoin mining pools, etc., showing the exploration and development of the cryptocurrency industry in different regions and business fields. On the other hand, the convening of the Bitcoin Conference has attracted a lot of attention, providing a platform for exchange and cooperation for the development and innovation of the industry.

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