Category: Bitcoin News

Bitcoin ETFs lose $648M as analysts warn of weak demand

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U.S. spot Bitcoin ETFs have recorded their biggest single-day outflows since late January after investors pulled nearly $650 million from the products as Bitcoin slipped below $78,000 amid rising geopolitical and inflation concerns. Summary U.S. spot Bitcoin ETFs posted $648.6 million in net outflows, the largest single-day withdrawal since Jan. 29. Bitcoin fell below $77,000 as rising U.S.-Iran tensions and higher oil prices renewed inflation concerns across risk markets. Analysts at Bitfinex said weakening ETF demand and slower on-chain capital inflows have left Bitcoin more exposed to macroeconomic pressure. According…

Swan Bitcoin faces $970M lawsuit over Prime Trust collapse

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Swan Bitcoin is facing a nearly $1 billion lawsuit tied to the 2023 collapse of crypto custodian Prime Trust. Summary PCT Litigation Trust seeks $970 million from Swan Bitcoin over transfers before Prime Trust bankruptcy. The complaint says Swan moved 11,994 BTC plus cash, stablecoins, and XRP before bankruptcy filing. Swan disputes the claims, saying customer assets held in trust cannot repay general unsecured creditors. PCT Litigation Trust has filed a lawsuit against Electric Solidus, Inc., the company operating as Swan Bitcoin, in the U.S. Bankruptcy Court for the District…

Bitcoin Dip-Buy Signal Emerges as Retail Fear Overtakes Optimism

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Key Takeaways Santiment said rising bearish bitcoin sentiment historically signals stronger rebound potential for BTC. Retail traders pushed BTC commentary into a “FUD Zone” as prices hovered near $76,000. Social platform data showed bearish sentiment rising as rebound odds improved. Bitcoin Sentiment Ratio Turns Bearish After BTC Slide Bitcoin traded near $77,000 around 5:36 p.m. after briefly dipping toward $76,000 on May 18, triggering a rise in bearish social media commentary tied to BTC, Santiment stated in a post on social media platform X. BTC recovered modestly from that local…

Bitcoin Miner Revenue Drops 9.44% Following Network Difficulty Jump – Bitcoin News

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Key Takeaways Bitcoin difficulty hit 136.61T on May 15 as miner revenue fell 9.44%. Hashrateindex.com data shows PH/s value slid from $38.97 to $35.29 in 4 days. Bitcoin fees made up just 0.59% of rewards, keeping focus on BTC price trends. Bitcoin Petahash Value Slides to $35 as Mining Difficulty Rises Although the previous week offered miners a more favorable stretch, conditions have tightened considerably over the last four days. Bitcoin’s network difficulty climbed on May 15 at block height 949536, marking the first upward adjustment in more than a…

SpaceX Bitcoin treasury tops $637m pre-IPO

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SpaceX Bitcoin holdings stand at $637m, on-chain data shows, making it the fourth largest known corporate holder. Summary SpaceX holds 8,285 BTC worth approximately $637m in Coinbase Prime custody, per Arkham Intelligence data, with the position unchanged since June 2022. The company ranks fourth among known private corporate Bitcoin holders, trailing Block.one, Tether Holdings, and Stone Ridge Holdings Group. SpaceX is targeting a June 12 Nasdaq debut under ticker SPCX, which will require public disclosure of the Bitcoin position under FASB fair-value accounting rules for the first time. SpaceX holds…

Citi warns Bitcoin faces quantum risk

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Citi warned Monday that Bitcoin faces an outsized quantum computing threat, with up to 6.9 million BTC already vulnerable. Summary Citi’s May 18 digital asset research note says quantum computing advances are compressing the timeline for when machines could break Bitcoin’s encryption. Bitcoin is particularly exposed because its decentralised governance makes protocol upgrades slow and difficult to coordinate, unlike proof-of-stake networks. An estimated 6.5 to 6.9 million BTC have public keys already exposed on-chain, representing roughly one-third of circulating supply valued at around $450 billion. Citi analyst Alex Saunders warned…

Prime Trust Litigation Trust Files 94-Page Suit Against Swan Bitcoin for $970M in Transfers

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Key Takeaways PCT Litigation Trust filed a 94-page suit against Swan Bitcoin on May 15, 2026, seeking $970 million in clawbacks. The complaint alleges a Prime Trust executive tipped off Swan CEO Cory Klippsten via encrypted chat on May 22, 2023, weeks before the collapse. Swan has not filed a formal response as of May 18, 2026; the case before Judge Stickles will turn on preference and fiduciary defenses. Prime Trust Clawback Case Targets Swan Bitcoin The PCT Litigation Trust, created under Prime Core Technologies’ confirmed Chapter 11 plan, filed…

Bitcoin Drops to $76K as Middle East War Fears Spark $722M in Liquidations

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Key Takeaways Bitcoin slid to $76,000 on May 18 following rising geopolitical tensions between the U.S. and Iran. The drop triggered $722 million in crypto long liquidations as Iran reportedly unveiled Hormuz Safe. Yellow Capital’s CEO notes BTC’s recovery depends on macro liquidity conditions rather than crypto news. Bitcoin Slams into Geopolitical Headwinds Bitcoin slid to $76,000 Monday morning, continuing a trend that began shortly after President Donald Trump hinted to reporters on May 15 that the U.S. and Israel may resume combat operations against Iran. Market data shows that…

Goldman Sachs Exits XRP and Solana ETFs as Bitcoin Holdings Reach $700M

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Key Takeaways Goldman Sachs exited XRP and solana ETFs, cutting ether exposure by 70% in Q1. Goldman kept $700M in bitcoin ETFs while boosting Coinbase and Circle investments. Wall Street firms are rotating toward bitcoin and crypto infrastructure amid volatility. Goldman Sachs Reshapes Crypto Portfolio as Institutional Focus Shifts to Bitcoin Goldman Sachs significantly reshaped its digital asset portfolio in the first quarter of 2026, exiting positions tied to XRP and solana exchange-traded funds (ETFs) while sharply reducing exposure to ether ETFs, according to its latest regulatory filing. The Wall…

Gov. Walz Signs Bitcoin Custody Bill, Letting Minnesota Banks Hold Crypto Aug. 1

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Key Takeaways Minnesota Gov. Tim Walz signed HF 3709, letting state-chartered banks offer bitcoin and crypto custody. The law takes effect Aug. 1, 2026, requiring a 60-day Commerce Department notice before services launch. St. Cloud Financial Credit Union reported 20% of members hold crypto, signaling strong local demand. State-Chartered Banks in Minnesota Will Be Able to Custody Bitcoin Under New Law The legislation, now Chapter 93 of the 2026 Session Laws, takes effect Aug. 1, 2026. It applies only to services offered on or after that date. Under the new…