The US stock market opened lower, with the Dow Jones Industrial Average falling 160 points, the Nasdaq falling 182 points, and the S&P 500 index falling 0.63%.
According to Nasdaq listed Bitcoin treasury company SATA, it is expected to purchase 218 bitcoins in the past two days. If this trend continues, it may surpass the weekly record of 371 BTC this week.
According to CoinDesk, South Carolina has proposed S.0163 bill, which prohibits state government agencies from accepting or testing central bank digital currencies (CBDCs) and prohibits state-level payment requirements in the form of CBDCs. The bill protects users' self custody rights, allowing individuals to freely use digital assets for legal transactions, while restricting discriminatory regulation of cryptocurrency mining and node operations. The bill also stipulates that encrypted payments cannot be used as additional tax assessment basis. The state fiscal impact statement indicates that the bill is not expected to have a significant impact on existing fiscal operations.
**[Bitfinex Bitcoin Long Positions Reach 2.5-Year High]** According to a report by CoinDesk, Bitcoin margin long positions on Bitfinex have risen to 80,600 BTC, marking a new high since December 2023 and a 2.5-year peak. Despite Bitcoin's 13% decline this year and a consecutive five-day drop from May 15 to May 19, leveraged traders have recently increased their long positions by approximately 1.5%. Data shows that Bitfinex margin longs have cumulatively risen about 10% since the beginning of the year, while Bitcoin's price has fallen from above $80,000 to around $76,000. It is currently testing a key resistance level near $78,000, with the 200-day moving average positioned above $81,000.
According to the PRO main order list, the total transaction data of BTC and ETH main players in the past 24 hours is as follows: BTC: Accumulated transaction volume of 1.457 billion US dollars, of which 847 million US dollars were bought and 610 million US dollars were sold, with a transaction difference of 237 million US dollars ETH: Accumulated transaction volume of 706 million US dollars, of which 365 million US dollars were bought and 341 million US dollars were sold, with a transaction difference of 24.1983 million US dollars The latest data shows that the main players still have a layout in key price points: the net pending difference of BTC is 1.181 billion US dollars; The net spread of ETH pending orders is 1.066 billion US dollars. The main pending orders may withdraw or close at any time, and non PRO versions of the K-line cannot see its changes in real time. The PRO 'Main Large Order Tracking' indicator monitors every large pending order in real-time, helping you determine if this' wall 'is still there. Note: If the difference between pending orders is positive, it indicates that the main force is placing more limit orders than sell orders on the currency, and there are active takeover orders below the current price; If it is negative, the opposite is true, as there is a reserve of selling pressure above. The data is for reference only and does not constitute any investment advice.
Analyst Murphy (@ Murphychen888) stated in an article that URPD data divided by wallet size shows a significant differentiation in cost distribution between whales and retail investors. The cost of holding over 100000 bitcoins for Super Whales is concentrated in the range of $80000 to $85000, with a small amount distributed around $70000 and $40000, and overall they are in a loss making state. The range of 65000 to 120000 US dollars mainly consists of holdings of 1 to 10000 wallets, with a relatively low proportion of retail investors; The range of 20000 to 60000 US dollars is mainly composed of 0.1 to 10 individual investors; For amounts below $20000, the majority are large wallet whales. Analysis indicates that large investors in this cycle have been trapped at high levels, and their subsequent decisions may affect the depth of the bear market, while most retail chips in the $20000 to $60000 range have entered a long-term holding state.