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Crypto

Bhutan sells another 319 bitcoins, holdings down 70 percent

Bhutan moved an additional 319 bitcoins from government-linked wallets, extending a selling trend that has continued since late last year. The transfer was worth about $22.68 million, and cumulative outflows since late October last year have exceeded 9,000 bitcoins. Bhutan's holdings fell to 3,654 bitcoins in April from about 13,000 at the end of last year, a drop of about 70 percent. The government has not issued a public statement on the move.

Crypto

U.S. prediction market reshapes amid regulation, Kalshi takes 89 percent share

Kalshi, a federally regulated U.S. prediction market, has taken an estimated 89 percent share of trading volume, cementing its lead as the competitive landscape reshapes around regulatory status. Weekly market volume rose 4 percent, while Kalshi’s volume increased 6 percent, a Bank of America report showed. Polymarket held 7 percent and Crypto.com 4 percent, with Polymarket’s volume down 16 percent. Legal disputes and CFTC litigation could determine whether the market expands nationwide or fragments by state.

Crypto

Bitcoin rises above $72,000 on U.S.-Iran ceasefire progress; oil gives up gains

Bitcoin rose above $72,000 intraday as ceasefire talks between the United States and Iran made progress. It was up about 1.3 percent after Israel said it would quickly begin talks with Lebanon, trading around $71,700. U.S. stocks reversed early losses and the Nasdaq turned higher. WTI crude neared $103 a barrel before sliding to $98.60 as expectations of easing Middle East risk weighed on oil and revived risk appetite.