OKX Launches the 9th Round of the Play and Win Strategy Trading, with a Total Prize Pool of 1 Million USDT

May 31 — Communications over a potential memorandum of understanding (MOU) between Iran and the United States remain ongoing, Iran’s Tasnim News Agency reported. Both sides have been submitting proposed amendments in turn, and no final agreement has been reached as of yet. (FX168)

May 31 – Cryptocurrency analyst Marcus Corvinus noted that Bitcoin (BTC) has recently bounced back from a key on-chain support level around $71,400. This level marks the average holding cost for HODLers who’ve held their coins for 3 to 6 months, making it the most critical short-term support zone for the leading crypto right now. Corvinus added that since this group is still in profitable territory, they have a strong incentive to hold their positions in this price range. If the rebound extends, BTC’s next potential target is $78,200, which aligns with the average holding cost for 6 to 12-month long-term investors. Data from on-chain analytics firm Glassnode shows that since 2017, after Bitcoin breaks above the cost basis of those 3-6 month HODLers, its average price gains hit 21.9% over the subsequent 90 days and 36.6% over 180 days. Based on BTC’s current price of roughly $74,000, that would translate to target prices of around $90,200 and $101,100 respectively. However, from a te

May 31 — JPMorgan Chase CEO Jamie Dimon is sounding the alarm over the U.S. crypto market structure bill, the CLARITY Act, warning that if stablecoin issuers are allowed to offer returns similar to bank deposit interest without proper regulatory protections, the model could ultimately "blow up." Dimon pointed out the legislation would let crypto companies offer returns akin to deposit rates via stablecoin accounts—a setup lacking sufficient safeguards that the banking sector won’t accept. “I’m not worried about stablecoins themselves, but if this were to happen, I wouldn’t be involved, and it will eventually blow up,” he said. The CLARITY Act aims to clarify the U.S. crypto industry’s regulatory framework and outline responsibilities for various regulatory agencies. Earlier, Patrick Witt, director of the U.S. Digital Asset Advisory Committee, noted the Trump administration plans to move the bill through by July 4. However, Polymarket data shows the probability of the CLARITY Act

On Friday, May 31, the Hyperliquid ETF notched a record single-day net inflow of $29.6 million. The breakdown of this total is as follows: BHYP recorded a net inflow of $20.1 million, while THYP posted a net inflow of $9.5 million. The fund has now logged net inflows for 13 consecutive trading days, bringing its cumulative total inflows to $136 million. This continuous flow of funds has boosted HYPE’s performance. Per HTX market data, HYPE has surged over 70% in the past 30 days and is currently trading at $68.3.

May 31: MiniMax Group Inc. announced its board of directors has approved exploring a preliminary proposal to issue Renminbi-denominated shares. The effort may involve entering into agreements with professional advisors and consulting relevant securities or other regulatory agencies. The company has already engaged professional advisors to guide it in meeting listing requirements for the Sci-Tech Innovation Board and has signed an advisory agreement. The issuance of Renminbi-denominated shares is contingent on market conditions and obtaining all necessary regulatory approvals.

### FLASH: May 31 Bitcoin Market Update Selling pressure on Bitcoin spot ETFs continues to mount. Following a $12.6 billion net outflow last week, Bitcoin spot ETFs saw another $14.2 billion in net outflows this week, briefly pulling BTC down to $72,500. However, on-chain and market data show some funds are starting to buy the dip around $70,000. Spot market buying has absorbed a portion of the selling pressure and provided price support, though buying volume remains insufficient to reverse the current downtrend. Derivatives market data adds that traders added roughly $300 million in long leveraged positions in the $73,000 to $74,000 range, signaling some investors are betting on a price rebound. Additionally, the order book depth ratio has turned positive, meaning the market views BTC as attractive below $75,000. To push Bitcoin back into an uptrend, the market still needs new catalysts, including progress in the U.S.-Iran peace agreement, a reversal of spot ETF net outflow