The Bitcoin holdings of BlackRock's spot Bitcoin ETF IBIT have surpassed Grayscale's GBTC. Specific data shows that BlackRock IBIT had a net inflow of $101.9 million yesterday, while GBTC had a net outflow of $105.2 million. It was previously reported that the gap in Bitcoin holdings between the two has narrowed to less than 2,000 BTC.

From these data, we can see that BlackRock's position in the Bitcoin market is rapidly improving. The net inflow of BlackRock IBIT clearly shows the increase in investors' confidence in it, and the overall liquidity and price stability of the Bitcoin market are also changing. BlackRock's increase in holdings not only reflects the confidence of the market, but also drives other institutional investors to follow up, thereby further stabilizing market prices. This is a positive signal for long-term investors. The phenomenon of BlackRock IBIT surpassing Grayscale GBTC reflects the market's favor for spot Bitcoin ETFs. This trend is expected to continue and have a profound impact on the Bitcoin market.

Jamie Coutts, a former Bloomberg analyst, pointed out that the altcoin season may appear in a few weeks. According to his analysis, when the Smart Contract Platform (SCP) Index and the Altcoin Season Index (Altseason Index) rise at the same time, it is the best time to allocate altcoins. Currently, the SCP Index is in an upward trend and is expected to exceed the March high, meeting the first condition. However, the Altcoin Season Index is currently only 26%, which has not reached the expected upward trend.

In addition, Bitcoin dominance remains strong, while Ethereum's recovery has not yet been transmitted to the broad SCP sector. This shows that although the SCP index is performing positively, the overall altcoin market has not yet fully caught up with ETH. Therefore, although the altcoin season has not yet fully arrived, investors can pay close attention to the changes in these two indexes.

It is worth noting that Jamie Coutts also mentioned that the trend of the cryptocurrency market is affected by the presidential cycle and the liquidity cycle. Combining these factors, the altcoin season signal may appear in a few weeks. Therefore, investors can make arrangements in advance or pay attention to assets that are currently performing well, such as Solana (SOL), Near Protocol (NEAR) and Toncoin (TON).

The latest document released by Mt.Gox shows that the transfer of Bitcoin is in preparation for the creditor repayment deadline. Specifically, the reorganization trustee plans to make repayments before October 31, and creditors can choose to receive Bitcoin and Bitcoin Cash (BCH) directly, or obtain income by selling these cryptocurrencies. From the content of the document, Mt.Gox emphasized that although it has not yet made direct repayments through designated cryptocurrency exchanges, nor has it sold Bitcoin and BCH for repayment, this repayment preparation is to ensure that creditors can smoothly receive the repayment they deserve before the deadline. This move shows Mt.Gox's cautious attitude in following the reorganization plan.

Combined with the latest market trends, we have seen that the price of Bitcoin has fluctuated recently. Market participants are usually sensitive to large-scale Bitcoin transfers, as this may trigger short-term market fluctuations. Currently, creditors and investors are paying close attention to Mt.Gox's actions and its potential impact on the market. Mt.Gox's statement provides a certain degree of transparency and reduces market uncertainty. However, the future price trend of Bitcoin and BCH will still be affected by this large-scale repayment action and requires continued attention.

Bitcoin will see $6.5 billion in options expire on May 31. In the options that expire this time, bulls tried to push the price of Bitcoin above $70,000, but faced certain challenges. Although investors are full of expectations that Bitcoin will rise to $80,000 and $90,000, Bitcoin has recently failed to break through the $70,000 resistance level. As of now, 91% of call options are set at a price range of $72,000 or higher. Comprehensive data shows that if Bitcoin trades above $70,000 on May 31, bulls will make a profit of $270 million. However, if the price of Bitcoin remains around $67,800, the market will be relatively balanced.

It is worth noting that Deribit accounted for 71% of the Bitcoin options market in May, followed by CME and OKX. This shows Deribit's dominance in the Bitcoin options market. Although CME and OKX have relatively small market shares, they are still market participants that cannot be ignored. Judging from the current market dynamics, it is difficult for the Bitcoin price to break through $70,000 in the short term. However, option expiration events often bring certain market fluctuations, and investors should pay close attention to price movements and changes in market sentiment.

BlackRock's IBIT Bitcoin holdings surpass Grayscale's GBTC.

The U.S. spot Bitcoin ETF had a net inflow of 642 coins yesterday (May 28), worth US$43 million.

BTC: Yesterday, a small negative line with a long lower shadow was closed, indicating that the carrying capacity below is still strong. The daily MACD is about to change. Overall, the market is still in a strong upward channel. It is expected that after a day or two of fluctuations, it may choose to break upward! In the bull market process, the long-term ignores short-term fluctuations.

ETH: Yesterday, a long lower shadow spindle was closed, and the callback tested the support of the 5-day moving average, showing that the market is relatively balanced in the high area. Spindle lines usually indicate that the market may adjust or fluctuate, especially when they appear at high levels. Overall, the market is in a strong upward channel. There may be some adjustments in the short term, and the adjustment range is small. It is unlikely to fall below the 10-day moving average. The market is still bullish. In the process of the bull market, the long-term ignores short-term fluctuations.

DOGE: It closed with a spinning top yesterday and is now above the 60-day moving average. It may rise further in the short term.

SAGA: It closed with a small negative line yesterday and is now above the 30-day moving average. There was obvious large-scale accumulation of funds at the daily level in the past few days, and there may be further upward movement in the short term.

NOT: Yesterday, a large-volume spindle line was closed, and it is still above the 5-day moving average. The trend is relatively strong, and there may be further strengthening in the short term.

PYTH: A spindle line was closed yesterday. It is still in adjustment in the short term. The daily level has been glued together and the chips are relatively concentrated. We need to wait patiently for the market to rise in the future.

Today's hot topics: Modularity; Solana ecosystem.

The Fear Index is currently at 72 (Greed) #贝莱德IBIT成为最大比特币现货ETF #5月市场关键事件 #BTC走势分析