Bitcoin (BTC) is seeing a slight rebound in the short term, currently around $77,530 as of May 22. A U.S. congressman has proposed the “U.S. Reserve Modernization Act,” aiming to lock Bitcoin as a long-term reserve asset for at least 20 years. According to a filing submitted by Harvard Management Company to the U.S. Securities and Exchange Commission (SEC), it sold all of its Ethereum positions just one quarter later.
Macro Events & Crypto Hotspots
1、According to Bitcoin News, U.S. Representative Nick Begich introduced the “U.S. Reserve Modernization Act,” which already has 16 original co-sponsors. The bill would establish a strategic Bitcoin reserve, consolidate digital assets held by the federal government, and lock them in as long-term reserve assets for at least 20 years. The bill also explores a budget-neutral Bitcoin acquisition strategy, while protecting the reserve from future efforts by the government and Congress to liquidate it. The outlet commented that the strategic Bitcoin reserve previously established by Trump via an executive order would be made into law by the “U.S. Reserve Modernization Act.”
2、According to a Q1 2026 filing submitted by Harvard Management Company to the U.S. Securities and Exchange Commission (SEC), the Harvard Management Company, which manages Harvard University’s endowment, sold all of its Ether (ETH) holdings just one quarter later.
According to the Q1 2026 filing submitted to the U.S. SEC, the endowment fund no longer holds shares of the BlackRock iShares Ethereum Trust exchange-traded fund (ETF) valued at $87 million that it held in Q4 2025.
News Flashes
1、U.S. SEC commissioner: The “innovation exemption” for tokenized stocks applies only to currently tradable stocks in the secondary market
2、A U.S. lawmaker proposes the “U.S. Reserve Modernization Act,” aiming to lock Bitcoin as a long-term reserve asset for at least 20 years
3、Mark Cuban says he has sold most of his Bitcoin, disappointed because the hedging narrative failed
4、Former Ethereum Foundation researcher Dankrad Feist proposes raising $1 billion to form a new Ethereum advocacy organization
5、Pantera-backed cross-chain protocol Everclear gradually shuts down the protocol, foundation, and lab divisions
6、AI startup Hark completes a $700 million Series A funding at a $6 billion valuation; Parkway Venture Capital leads the funding to gradually shut down the protocol, foundation, and lab divisions
7、TownSquare completes Pre-A funding, with total funding reaching $16.25 million
8、In the Hyperliquid ecosystem, DAT holdings as a share of HYPE float rise to 10%
Market Performance
1、Latest Bitcoin news: <a data-currency='BTC' href='/futures/USDT/BTC_USDT'>$BTC Slight short-term rebound, currently around $77,530; in the past 24 hours, $50.04 million was liquidated, with the main liquidations coming from long positions;
2、After U.S. stock markets fluctuated on May 21, they closed slightly higher. Reports of progress in Middle East peace talks drove oil prices lower. The Dow Jones Industrial Average closed at a new all-time high, but the impact of NVIDIA’s earnings faded quickly, and tech stocks showed divergence. The Dow Jones Industrial Average rose 276.31 points, up 0.6%, to 50,285.66; it also set a new closing high again since February 10. The S&P 500 rose 12.75 points, up 0.2%, to 7,445.72. The Nasdaq rose 22.74 points, up 0.1%, to 26,293.10.
(Source: Gate)
3、In the Gate BTC/USDT liquidation map, based on the current 77,408.50 USDT: if it falls to around $76,669, the cumulative amount of long-position liquidations would exceed $705 million; if it rises to around $78,390, the cumulative amount of short-position liquidations would exceed $448 million. The amount liquidated on the short side is significantly lower than on the long side. It’s recommended to reasonably control leverage ratios and avoid triggering large-scale liquidations when the market moves.
(Source: Coinglass)
4、In the past 24 hours, BTC spot inflows were $1.76 billion, outflows were $1.7 billion, for net inflows of $60 million.
(Source: Coinglass)
5、In the past 24 hours, net outflows led for contracts such as $SOL, $BCH, $NEAR, $EDEN, $ANTHROPIC , etc., presenting trading opportunities.
Selected Views from X KOLs
Phyrex Ni (@Phyrex_Ni): “First of all, I want to wish all my friends a Happy Pizza Day. Whether you eat pizza or not isn’t important—the important thing is to understand the feelings toward holding Bitcoin. It’s also because of a day like this that I’m constantly reminded to try not to sell my $BTC . I’ve done the same: from the first time I bought Bitcoin until now, I’ve never sold. This might be my most stubborn idea—of course, it may not be right, since I’ve gone through several rounds of rollercoasters.”
“But if I had been afraid of rollercoasters from the start and chose to sell, I really don’t know whether I would still have these Bitcoins now. Maybe at some point I would’ve been shaken out. In any case, having some faith is good.”
“Today has been a real rollercoaster. The issues between the U.S. and Iran are once again being pushed to the limit. The Strait of Hormuz still hasn’t been fully cleared. But I heard that the U.S. and Iran have reached an agreement, and in a few hours the final result will be released. After this information came out, the WTI price has already fallen back below $97, and the market still chose to believe it.”
“I hope this time it’s real. Earlier I also saw some data: Americans’ dissatisfaction with the current Trump has become very strong. The inexplicable attack on Iran caused U.S. inflation to rise. And the data also shows Trump’s approval ratings are declining. That must be unbearable for Trump, who is determined to do big things—after all, there’s less than half a year until the midterm election.”
“Coming back to the Bitcoin data, I’ve always stuck to my own judgment. At this $BTC price, you still need to look at the face of U.S. stocks, and U.S. stocks need to look at the U.S. economy—political stances determine everything. So if many friends think they can see Bitcoin at $60k or even lower, that would mean U.S. stocks would also have a bigger pullback.”
“At least based on the current data, BTC is still very healthy. More investors are leaning toward long-term holding, and short-term turnover investors are decreasing.”
Preview for Today
1、Germany’s Q1 GDP revised figure after seasonal adjustment (quarter-on-quarter), prior value 0.3%
2、Germany’s Q1 GDP revised figure without seasonal adjustment (year-on-year), prior value 0.5%
3、UK April retail sales revised figure after seasonal adjustment (month-on-month), prior value 0.7%
4、Germany May IFO business climate index, prior value 84.4
5、Canada March retail sales (month-on-month), prior value 0.7%
6、U.S. May University of Michigan consumer sentiment index final reading, prior value 48.2
7、Fed Governor Waller delivers remarks
