Four major catalysts could ignite a new bull market rally?
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Four major catalysts could ignite a new bull market rally?
Strong inflows into spot Bitcoin ETFs, the Bitcoin 2025 conference, FTX repayments, and renewed negotiation windows between the U.S. and the EU.
Navigating Web3 tides with focused insightsAuthor: 1912212.eth, Foresight News
After breaking through $110,000 and reaching a new all-time high, Bitcoin has recently seen a pullback.
In the evening of May 25, BTC briefly dropped to around $106,000 before slowly climbing back, now approaching the $110,000 mark again. Some cryptocurrencies have turned from losses to gains once more. According to Coinglass data, total liquidations across the market amounted to approximately $208 million in the past 24 hours, with long positions accounting for $114 million and short positions $93.59 million. Among these, Bitcoin liquidations reached $42.01 million and Ethereum liquidations hit $49.05 million.
Today early morning, well-known whale James Wynn closed his $1 billion worth BTC short position between 6:09 and 6:15, totaling 9,402 BTC. The average entry price was $107,069, and the average exit price was $108,757, resulting in a loss of approximately $15.86 million.
Since early April this year, Bitcoin has achieved seven consecutive weekly gains, showing an exceptionally strong momentum. Historically, after such a 7-week or 7-month winning streak, corrections often follow. Will this time be any different?
Nonetheless, there are still notable catalysts ahead for the market.
Spot ETF Data for Bitcoin and Ethereum Show Exceptional Strength
Since May this year, inflows into spot Bitcoin ETFs have been very strong. From May 1 onward, only two days recorded minor net outflows, while all other days saw significant inflows. There were four instances of daily net inflows exceeding $600 million, and only four days where net inflows were less than $200 million for the entire month.
The total net inflow into spot Bitcoin ETFs has now reached $44.53 billion.
Spot Ethereum ETFs also show relatively optimistic performance. Since May 12, only two small net outflows have occurred, with all other days recording net inflows. Notably, on May 22, a single-day net inflow exceeded $110 million—an extremely rare event and the highest since February this year.
The strong capital inflows into Bitcoin and Ethereum spot ETFs are injecting positive sentiment into future price movements.
Bitcoin 2025 Conference to Be Held from May 27–29
The annual Bitcoin 2025 conference will take place in Las Vegas from May 27 to 29, 2025.
Speakers include:
· U.S. Vice President JD Vance
· Silk Road founder Ross Ulbricht
· Trump’s second son Eric Trump
· Trump’s eldest son Donald Trump Jr.
· Strategy founder Michael Saylor
· U.S. Senator Cynthia Lummis
Notably, Trump voiced strong support for Bitcoin at the Bitcoin 2024 conference, including advocating for a strategic Bitcoin reserve and pushing for U.S. leadership in Bitcoin mining and the crypto industry. During the July 26–27 event, Bitcoin reversed its downward trend and even briefly surpassed $70,000 on July 29.
The participation of these highly influential political and business figures is expected to drive progress in Bitcoin's commercial applications and policy development.
FTX Repayments Begin May 30, Total Distribution Over $5 Billion
Main FTX repayments will begin on May 30, marking the second distribution to creditors, with total funds distributed exceeding $5 billion. This follows the first payout in February 2025 to small creditors holding under $50,000. FTX previously completed the initial disbursement to small creditors under the Convenience Classes in the Chapter 11 reorganization plan.
Recently, FTX creditor representative Sunil confirmed on social media that the repayment distribution date is set for May 30, with Step 9 now updated to "Claims Allowed":
· Users with claims over $50,000 will receive 72.5% of their payout;
· The remaining portion (up to 100%) and interest will be distributed in subsequent rounds.
The injection of $5 billion could boost market liquidity in the short term. Moreover, as payouts are made in cash, this capital may convert into buying pressure for major cryptocurrencies like Bitcoin.
Trump Reopens 90-Day Negotiation Window with EU
In May 2025, tariff negotiations between the EU and the U.S. remain tense. The Trump administration imposed tariffs ranging from 20% to 50% on steel, aluminum, automobiles, and other sectors early this year, prompting retaliatory tariffs by the EU on American goods. On May 23, Trump stated, “The EU was primarily established to take advantage of the U.S. in trade. Our negotiations have made no progress. I suggest imposing a direct 50% tariff on EU products starting June 1, 2025.” This comment initially caused declines in both U.S. stocks and Bitcoin.
However, on May 26, Trump announced that the EU had requested an extension of the trade negotiation window, and he agreed to extend the deadline to July 9. Previously, European Commission President von der Leyen said, following a phone call with Trump on Sunday, that the EU is ready to “move quickly and decisively” on trade talks with the U.S., but requires Trump to return to the original 90-day negotiation period he set.
Following this announcement, Bitcoin briefly rebounded above $109,000.
Additionally, the U.S. reduced tariffs on Chinese goods from 145% to 30%, while China lowered tariffs on U.S. goods from 125% to 10%, launching a 90-day grace period (May 14 to August 12). This grace period aims to provide time for continued negotiations, attempting to mitigate the impact of the trade war on the global economy.
A brief pause in the global tariff war allows risk assets to continue advancing under temporarily stabilized expectations.
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