South Carolina has passed a new cryptocurrency law that protects self-custody 
rights, limits state involvement with central bank digital currencies, and 
removes several licensing requirements tied to blockchain activity. South 
Carolina Governor Henry McMaster signed Senate Bill 163 into law…

South Carolina has passed a new cryptocurrency law that protects self-custody rights, limits state involvement with central bank digital currencies, and removes several licensing requirements tied to blockchain activity. South Carolina Governor Henry McMaster signed Senate Bill 163 into law…

South Carolina bars state agencies from participating in CBDC programs

U.S. Senator Cynthia Lummis has warned that China and Europe are actively 
competing with the United States for leadership in cryptocurrency and digital 
asset development, urging Congress to accelerate pending crypto legislation. 
US Cannot Afford to Fall Behind China and Europe, Says Lummis Speaking on the 
state of U.S. crypto policy, Senator Lummis, one of […]

U.S. Senator Cynthia Lummis has warned that China and Europe are actively competing with the United States for leadership in cryptocurrency and digital asset development, urging Congress to accelerate pending crypto legislation. US Cannot Afford to Fall Behind China and Europe, Says Lummis Speaking on the state of U.S. crypto policy, Senator Lummis, one of &#8230;

Lummis Warns US Must Pass CLARITY Act Immediately or Cede Digital Asset Leadership to China and Europe

XRP holds near $1.37 as ETF inflows stay positive, Bybit deposits cool, and 
traders watch $1.50 resistance against $1.29 support.

XRP holds near $1.37 as ETF inflows stay positive, Bybit deposits cool, and traders watch $1.50 resistance against $1.29 support.

XRP selling pressure fades, but $1.50 still blocks bulls

Bitcoin price remained under pressure on Wednesday, but crypto analyst Ali 
Martinez believes the recent correction may actually be setting the stage for 
another rally toward $95,000 as key on-chain MVRV indicators begin flashing 
long-term accumulation signals. According to data…

Bitcoin price remained under pressure on Wednesday, but crypto analyst Ali Martinez believes the recent correction may actually be setting the stage for another rally toward $95,000 as key on-chain MVRV indicators begin flashing long-term accumulation signals. According to data…

Could Bitcoin price surge to $95K as analyst points to a bullish MVRV setup?

Bitcoin ETF outflows are turning rising Treasury yields into a direct test for 
BTC price after Bank of America’s May Global Fund Manager Survey showed 
professional investors cut bond allocation to a net 44% underweight, the 
deepest positioning since June 2022, down from 33% underweight in April. At 
the same time, managers pushed global equity […]
The post New Bitcoin ETF outflows are exposing BTC to Wall Street’s most 
crowded trade appeared first on CryptoSlate.

Bitcoin ETF outflows are turning rising Treasury yields into a direct test for BTC price after Bank of America’s May Global Fund Manager Survey showed professional investors cut bond allocation to a net 44% underweight, the deepest positioning since June 2022, down from 33% underweight in April. At the same time, managers pushed global equity &#8230;

New Bitcoin ETF outflows are exposing BTC to Wall Street’s most crowded trade

Wintermute said Bitcoin’s latest rally has failed its first major macro test, 
arguing that the move was driven more by leverage and short covering than by 
durable spot demand. In its May 18 market update, the trading firm pointed to 
hot inflation, rising Treasury yields, ETF outflows and renewed rate-hike 
pricing as the backdrop behind a sharp reversal across digital assets. “Last 
week we said we&#8217;d find out fast what kind of rally this was. We found out,” 
Wintermute wrote. “BTC failed at the 200-day on the first real macro shock, 
which tells you it was the squeeze driving it all along.” The firm’s update 
framed the week as a macro-led repricing. April CPI came in at 3.8% year over 
year, above the 3.7% consensus estimate, while core CPI rose 0.4% month over 
month. Wintermute said the inflation shock has become harder for markets to 
dismiss, noting that the prolonged energy shock is now moving into core 
inflation and that real wages turned negative for the first time in three 
years. Related Reading: Bitcoin Hits ‘Wall Of Resistance,’ CryptoQuant 
Research Head Warns Rates responded quickly. The 10-year Treasury yield rose 
28 basis points on the week to 4.58%, its highest level since September 2025, 
while fed funds futures erased all expected cuts for 2026 and began pricing a 
44% chance of a rate hike by December, up from 22.5% a week earlier. 
Wintermute said the market narrative shifted from “when do they cut” to “do 
they hike” in only five trading days. That repricing hit long-duration assets. 
Wintermute said 20-year-plus Treasuries fell 2.8%, while gold dropped 3.8% 
despite the geopolitical backdrop. Brent crude rose 8.6%, leaving the firm to 
conclude that “the only things that worked were the things causing the 
problem.” Why $75,000 Bitcoin Is The Line In The Sand Bitcoin briefly moved 
above $82,000 after the CLARITY Act vote, but then reversed sharply and closed 
Friday near $78,000, down 5.7% for the week. A weekend slide toward $77,000 
triggered $657 million in liquidations, including $584 million from long 
positions. Ethereum underperformed even more, falling 10.2% on the week. 
Wintermute said ETH continued to weaken across both spot and derivatives 
markets, with ETH/BTC pressing 0.0275, funding softer and relative implied 
volatility elevated. The firm described ETH as the “wrong asset for this 
macro.” ETF flows also turned against the market. Bitcoin spot ETFs recorded 
$1 billion of outflows for the week, ending six consecutive weeks of inflows, 
while ETH ETFs saw $255 million leave the products. Wintermute cited Glassnode 
data showing institutions were “selling into strength,” with the seven-day 
moving average of net flows at negative $88 million per day, the weakest level 
since mid-February. “When leverage is the marginal buyer, the unwind is fast,” 
Wintermute wrote. Related Reading: Strategy Wants 1,000,000 Bitcoin Treasury 
And This Is How They Plan To Get To That Number The firm said Bitcoin remains 
below its 200-day moving average near $82,200 after being rejected five times 
this month. The immediate support zone is $76,000 to $78,000, according to the 
update, while a break of $75,000 could open the way toward $70,000 to $72,000. 
Wintermute did not dismiss the broader structural case for Bitcoin. It noted 
that exchange reserves remain near multi-year lows, long-term holders are 
still accumulating, and the CLARITY Act continues to move forward after 
clearing the Senate banking committee. The firm also said tokenized Treasuries 
reached $15 billion onchain, describing the segment as an area of continued 
growth. Still, Wintermute argued that short-term flows matter more than the 
structural story for now. “The flow data shows institutions used the rally to 
take profit rather than add, and in the short term that matters more than the 
structural story,” the firm wrote. The next test, according to the update, is 
whether Bitcoin can hold the $76,000 to $78,000 area through Nvidia earnings 
on Wednesday, May 20. A hold would “rebuild some confidence,” Wintermute said, 
but a break below $75,000 with funding resetting and ETF flows negative could 
bring the low $70,000s back into view quickly. At press time, BTC traded at 
$77,297. Featured image created with DALL.E, chart from TradingView.com

Wintermute said Bitcoin’s latest rally has failed its first major macro test, arguing that the move was driven more by leverage and short covering than by durable spot demand. In its May 18 market update, the trading firm pointed to hot inflation, rising Treasury yields, ETF outflows and renewed rate-hike pricing as the backdrop behind &#8230;

South Carolina bars state agencies from participating in CBDC programs

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