Overview

• Bitcoin is trading around $105,000, just 3% below its all-time high of $108,786, after briefly surpassing $106,000 over the weekend.
• U.S. spot Bitcoin ETFs attracted $2.8 billion in May, with total assets exceeding $122 billion, signaling strong institutional interest.
• The U.S. Senate advanced a landmark stablecoin regulation bill, which could establish the first comprehensive framework for stablecoins.
• More than $600 million in crypto derivatives positions were liquidated during volatile weekend trading, driven by a short squeeze and profit-taking.
• Macroeconomic factors, including the Federal Reserve's rate hold and Moody’s U.S. credit downgrade, contribute to market uncertainty and Bitcoin's appeal as an inflation hedge.