US to Buy More Bitcoin, BTC ETFs Record Best Performance in Six Months

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US Government’s Bitcoin Shopping Spree: Is Your Wallet Next? 🤑

In a twist worthy of a theatrical farce, David Sacks, the White House’s self-proclaimed crypto and AI czar, took to the stage at the Bitcoin 2025 conference, revealing that the US government might just dip its toes into the Bitcoin pool again. Yes, you heard it right! The land of the free could be eyeing more Bitcoin purchases, provided they can keep their budget as tight as a pair of old trousers. 💰

During a cozy fireside chat with the Winklevoss twins—who, let’s be honest, look like they just stepped out of a tech-savvy fairy tale—Sacks admitted that while there’s no formal commitment yet, the bureaucratic gears are already grinding. He pointed to a March 6 executive order that allows the government to snatch up Bitcoin through civil or criminal asset forfeitures. Oh, the irony! The same directive also gives them the green light to buy Bitcoin, as long as they don’t resort to new taxes or inflate the national debt. Because who needs fiscal responsibility when you have crypto? 🤷‍♂️

“If they can figure out how to fund it, they actually do have presidential authorization,” he emphasized, as if that’s the most reassuring thing to hear in a world of fiscal chaos.

Currently, the US is sitting on a treasure trove of about 198,012 BTC, valued at over $21 billion. Not too shabby for a government that can’t seem to balance its checkbook! 💸

Bitcoin ETFs: The New Gold Rush? 💎

Meanwhile, the 11 US-listed spot Bitcoin ETFs have seen a tidal wave of cash flow, with a whopping $5.77 billion pouring in this month alone. It’s the best monthly performance since November, according to the ever-reliable SoSoValue. Investors are throwing their hats in the ring, focusing on directional bets, while the demand for arbitrage-based strategies is also climbing like a cat up a tree. 🐱

Net inflows have dominated ETF activity, with only four days of outflows since mid-April. BlackRock’s IBIT has emerged as the star of the show, coinciding with Bitcoin’s new all-time high above $110,000. Talk about a plot twist! 🎉

Retail Investors: Where Art Thou? 🤔

Despite Bitcoin’s record-setting rally in Q2 2025, retail investors seem to be playing hide and seek. Analyst burakkesmeci on CryptoQuant noted that BTC transfer volumes in the $0-$10K bracket—usually the playground of retail investors—are as stagnant as a pond in mid-summer. 🦆

While institutional demand is pushing prices skyward, the grassroots retail momentum that historically fuels bull markets is still MIA. Previous cycles show that institutional buying often kicks off rallies, but let’s face it, retail involvement is essential for a party to really get going. If retail participants decide to join the fun in the coming weeks, this rally could still have some serious legs. For now, however, retail caution is keeping the froth at bay, like a bouncer at an exclusive club. 🚫

Long-Term Bitcoin Holders: The Silent Majority Speaks! 📣

Adding a dash of intrigue to the current market narrative is a fresh wave of selling from long-term Bitcoin holders. According to on-chain data from Glassnode, BTC holders aged between one and five years have collectively moved over $4.02 billion worth of Bitcoin in May, marking the fifth-largest outflow spike of the cycle. It’s like watching a game of musical chairs, but with a lot more zeros involved! 🎶

Spending by older $BTC holders is heating up again. Aggregate volume from the 1y–5y cohorts just hit $4.02B – the highest since February. Older coins are on the move! 🧵👇

— glassnode (@glassnode) May 28, 2025

The 3-5 year cohort led the charge with $2.16 billion in outflows, marking their second-largest disposal after the March 2024 spike. While such movements can often hint at top-like behavior, they can also be interpreted as strategic profit-taking during periods of strong price action. Because who doesn’t love a good profit, right? 😏

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2025-05-28 17:23