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BTC $78,408.75 -2.74%
ETH $2,192.92 -2.79%
BNB $660.22 -3.58%
XRP $1.42 -3.54%
SOL $87.45 -4.07%
TRX $0.3517 -0.02%
DOGE $0.1102 -3.80%
ADA $0.2556 -4.44%
BCH $420.94 -2.43%
LINK $9.81 -5.02%
HYPE $41.78 -8.50%
AAVE $89.42 -7.28%
SUI $1.06 -7.19%
XLM $0.1522 -4.44%
ZEC $495.31 -7.79%

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Bitcoin spot ETFs have seen net positive inflows for seven consecutive weeks, with IBIT attracting $269.3 million in a single day yesterday. The House fundraising committee is holding a closed-door meeting on cryptocurrency tax reform today, in sync with the Senate markup

According to BBX data, institutional demand for Bitcoin ETFs maintained strong momentum yesterday. Today, both houses of Congress are advancing cryptocurrency legislation simultaneously for the first time, with the core dynamics as follows:The U.S. Bitcoin spot ETF recorded a total net inflow of approximately $358.1 million yesterday (May 13), with BlackRock, Inc. (NYSE: $BLK) subsidiary iShares Bitcoin Trust (NASDAQ: $IBIT) seeing a single-day net inflow of $269.3 million, the strongest single-day data in recent weeks; the overall U.S. Bitcoin spot ETF has recorded net positive inflows for seven consecutive weeks, further reinforcing the structural signal of institutional capital returning. Bitcoin closed above $80,000 yesterday, with a year-to-date increase of about 14%, and market sentiment remains relatively optimistic on the eve of the CLARITY Act markup.The House Ways & Means Committee held a closed-door meeting today (May 14) on cryptocurrency tax reform in sync with the Senate Banking Committee's CLARITY Act markup, covering topics such as the treatment of capital gains tax on crypto assets, tax reporting responsibilities for DeFi protocols, and the tax classification of Bitcoin mining and staking income; this marks the first time in 2026 that both houses of Congress are advancing cryptocurrency regulatory legislation on the same day, indicating that cryptocurrency regulatory legislation has expanded from a single market structure issue to a complete legislative ecosystem of "regulatory framework + tax system."

Glassnode: The synchronized strength of buying in both the futures and spot markets has driven Bitcoin up to $82,000, but the market has now reached a state of balance

Glassnode's latest weekly report indicates that Bitcoin slowly climbed from $77,000 to $82,000 last week, with buying pressure continuing to support during the pullback, even as momentum began to cool near local highs. The spot CVD surged, reflecting strong bullish sentiment and a firm belief in price increases. Meanwhile, spot trading volume also increased, indicating that the recent price trend gained more support with heightened investor participation. However, the easing of price momentum suggests that buying and selling pressures are becoming more balanced, implying that the market may be entering a stabilization phase.The situation in the futures market is similar, with a rise in risk appetite. The increase in open interest indicates heightened speculative activity, with investors willing to take on more risk; the perpetual contract CVD surged, indicating sustained bullish momentum. However, the decline in long funding rates suggests a shift towards bearish sentiment, and bullish sentiment may have weakened.In the options market, the demand for downside protection has decreased, while open interest has increased, indicating a shift in market expectations towards neutral or slightly bullish. However, the volatility spread has surged significantly, indicating that the risks reflected in options pricing are much higher than the actual risks, reflecting a notable increase in participant uncertainty.In summary, supported by stronger on-chain activity, healthier profitability, and more stable holder positions, Bitcoin's market structure continues to improve. Although bullish sentiment is strengthening, the slowdown in capital inflows and cautious market sentiment suggest that the market remains sensitive to changes in risk appetite.

Syndicate Labs suffered a private key leak attack, approximately 18.5 million SYND were transferred, and they promised full compensation to users

According to official news, Syndicate Labs disclosed that its cross-chain bridge contract was maliciously upgraded on two chains due to a private key leak. The attacker transferred and sold approximately 18.5 million SYND (about $330,000) and around $50,000 worth of user tokens. The incident only affected specific chains, while others were not impacted.Syndicate Labs stated that this attack involved multi-stage reconnaissance, infrastructure mapping, and careful execution, demonstrating a high level of technical complexity, and ruled out the involvement of internal personnel. The root cause was that the private key was stored in a password management tool without an additional layer of encryption, and the upgrade process did not utilize multi-signature or hardware signature mechanisms, nor did it have early warning and circuit breaker measures for contract upgrades.Syndicate Labs announced that it will fully compensate all affected users, including returning 18.5 million SYND and providing additional compensation, while also fully compensating affected application chain clients. The company has initiated security upgrade measures, including strengthening private key encryption, tightening access permissions, and plans to introduce hardware or multi-signature mechanisms and upgrade path monitoring to prevent similar incidents from occurring again.
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