Bitcoin Pulls Back After Hitting $112K

Bitcoin reached a new all-time high of $111,970 on May 22, driven by strong institutional demand and favorable regulatory developments. However, the price has since retreated, stabilizing around $105,378 as of May 30. Analysts suggest this pullback is a healthy consolidation following the recent rally, with the market digesting gains before potentially resuming its upward trajectory. 

Ethereum Holds Steady Amid Market Volatility

Trump Media & Technology Group announced plans to raise $2.5 billion to establish a Bitcoin treasury, signaling a significant institutional endorsement of cryptocurrency. The move aligns with the Trump administration's broader strategy to position the U.S. as a global leader in digital assets. 

SEC Dismisses Lawsuit Against Binance

In a notable regulatory shift, the U.S. Securities and Exchange Commission (SEC) has dismissed its lawsuit against Binance and its founder, Changpeng Zhao. The case, which alleged unregistered securities operations, was dropped as the SEC forms a new crypto task force aimed at fostering innovation in the digital asset space. 

Bitcoin ETF Flows 

Bitcoin ETF flows began the week strong, with $385.4 million in net inflows on Monday, May 27, largely driven by BlackRock’s IBIT and contributions from VanEck and Grayscale BTC. Tuesday saw another solid print of $432.7 million, before flows reversed sharply on Wednesday, May 29. That day recorded a massive -$346.8 million in net outflows, with heavy redemptions from Fidelity, Bitwise, ARK, and Grayscale GBTC. The overall trend suggests early-week optimism gave way to significant profit-taking or rebalancing from institutions mid-week.

Ethereum ETF Flows 

Ethereum ETF flows held steady and positive throughout the week, showing resilience despite volatility in BTC markets. From Monday to Wednesday, ETH products recorded consecutive net inflows totaling $172 million, with strong contributions from BlackRock (ETHA), Fidelity, and Grayscale ETH. While Grayscale posted a modest -$4.6 million outflow on Thursday, the total week remained firmly in the green at over $230 million. The consistent ETH accumulation highlights ongoing institutional interest and may reflect positioning ahead of upcoming product developments or macro catalysts.

Bitcoin Flows Off Exchanges as Holders Turn Long-Term

Bitcoin exchange reserves continue to plummet to multi-year lows, signaling a persistent trend of coins moving off centralized platforms and into long-term storage. This steady outflow, visible in the latest CryptoQuant data, contrasts sharply with the upward trajectory of BTC’s price, highlighting a tightening supply dynamic. With fewer coins available to meet ongoing demand, the declining reserve trend may be contributing to bullish momentum and reinforcing the market’s supply-side pressure.

Credit Unions Go Blockchain with Metallicus and GoWest

In a major push toward modernizing community finance, Metallicus and GoWest Solutions have partnered to give credit unions access to the Metal Blockchain Banking Innovation Program, which empowers them to test and implement blockchain-powered solutions built for the real world. The program offers compliant infrastructure and tools such as white-labeled Metal Pay wallets, digital identity with verifiable credentials, and next-gen fraud prevention systems built on private subnets. Through this initiative, GoWest’s network of credit unions can now test and adopt secure blockchain technology tailored to their members' needs,  all while upholding the credit union ethos of trust, service, and accessibility. The program is available at no cost to all GoWest member institutions. Learn more.

Top Gainers on Metal Pay

LOAN Protocol led the week with a strong 19.7% gain, extending its momentum as activity across lending markets picked up. Metal Blockchain followed with a solid 9.4% rise, boosted by institutional adoption news from credit unions. XPR Network climbed 5.9%, marking a third consecutive week of upward movement, while Ethereum held flat at +0.6% despite volatile flows. Bitcoin dipped -3.6%, as ETF outflows and macro pressure weighed on price, a rare divergence from the strength in emerging DeFi assets.

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