What happened in crypto in the past week? This week the main stage is about Bitcoin that went down to 59K only to slowly recover from the dip. Or not? BTC is 40% from its peak, S&P up 27%, Strategy signaling distribution. ETFs are bleeding $1.5B. I found a way to expose myself to BTC via BlackRock, using Freetrade. Feel free to check them. What else? Read below:
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Bitcoin: Bitcoin social sentiment hit a year high as prices fell. Beginning of the past week we had it testing the $73K. Nothing happened, except opening the door to prices below $60K. The CFTC authorized Bitcoin perpetual futures for the US markets on May 29, with Coinbase and Kalshi both receiving approvalls for it. There are voices demanding Bitcoin to reclaim the $78k-$85K key zone, and this is adorable. Eleven straight days of the US spot BTC ETF outflows totalling $3.45B sent BTC to its lowest price since early April. Glassnode said fresh capital has effecttively stopped arriving on-chain. To top this out, Mt.Gox moved $739M in BTC. Citi says that Bitcoin's decline is driven by weak investor demand, not because Strategy's 32 BTC sale. A rare physical BTC from 2011 got redeemed after 15 years, unlocking $1.78M (25 BTC) - the coins were created between 2011-2013, each hiding a private key behind a tamper-evident hologram. Yet banks are quietly doubling their Bitcoin ETF exposure in Q1 2026 even as broader investors cut holdings by 18%. Bitcoin backs first Fannie Mae-backed mortgage in Michigan.
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Ethereum: Standard Chartered says that ETH is starting to outperform Bitcoin. Not to mention that ETH generates staking yield near 3% annually, while Bitcoin treasury firms earn nothing and may need to sell at a further date. Bitmine and Sharplink together hold 7% of the circulating ETH, generating $500M in annual staking rewards. Bitmine files for a preffered stock offering, with a proposed yield of 9.5%, mimicking Strategy.
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Altcoins and stablecoins: XRP Ledger made flash loan attacks structurally impossible, or at least this is what they say. Toncoin is dropping its name returning back to Gram, restoring the name from the project's original white paper. HYPE hit a new ATH above $70. Zcash fixed a critical bug while its price kept climbing. Just a week after he said that HYPE and NEAR are his best choices, Arthurt Hayes sold his entire position on June 4. Everything for a nice profit, right? Keep an eye for his next announcements and act in the opposite way, you may make some good money.
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NFTs and blockchain games: I have also enjoyed playing Golem Overlord lately on Hive, and it is quite engaging, I would say, with no significant updates lately. On Splinterlands, we have had the Land NFT new update and improved tokenomics, and the new cards from the Escalation mini collection are up and running.
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Good news: Binance opened thousands of US stocks to global users with zero commission trades funded by stablecoins or BNB. Tether wants you to earn gold on every purchase, launching a Visa card that pays up to 6% cashback in XAUT (Tether's gold-backed token).
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Bad news: Strategy sold BTC for the first time since 2022, to fund distributions on its STRC preffered stock moving from "never sell" to "active treasury" mode. Vitalik argued this week that stablecoins should not track the US dollar, as a crypto economy built on dollar backed stablecoins cannot call itself trully decentralized. Gnosis Pay was exploited over the week, relevant patches were made. Gravity bridge has been exploited with $4.5M lost. Gray market peptide trade is running on crypto, as you can buy from Chinese suppliers using BTC and stablecoins. For now!
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Joke of the week: Anthropic filed for a US IPO ahead of OpenAI, as they are valuated near $965B in late May. Do we have a race? Second best, the US Treasury Secretarytold the Senate Finance Committee on June 3 that the government is building a strategic BTC reserve. Didn't they already done that? Or this time is for real, and not only happening in Donald's dreams? The Clarity Act is running out of time this year, as it still needs 60 Senate votes, reconciliation with House legislation, and a presidential signature.
All the best,
George
Why not...
...have fun and win rewards on my favourite blockchain games (Splinterlands- a Hearthstone-like card game) (Golem Overlord - a Play2Earn game on Hive) (Holozing - a Pokemon-like game)and ( Chain of Legends - with a hint of Heroes of Might and Magic).
...get crypto while writing on the Publish0x blog. I am also writing for crypto on Hive.
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