Funds have moved to XRP and Solana ETFs, ETH is being drained, the SEC over in the US is still delaying, macro and geopolitical pressures are both weighing down, let's see who gets proven wrong when the options expire on the 29th.

On May 25, Bitcoin traded in a range below $78k. The US spot BTC ETF recorded net outflows for two consecutive weeks; last week’s net outflows totaled $1.26 billion. Industry insiders say funds are rotating, and BTC/ETH have not left the market. Meanwhile, the XRP, Solana, and Hyperliquid ETFs saw net inflows, while the ETH ETFs saw net outflows. The market is influenced by the US-Iran situation, the SEC’s delay of its tokenized stock plans, and macroeconomic data. The options market still has bets on volatility, with contracts expiring on May 29 concentrated in $75k puts and $80k calls. Laser Digital says that if the US and Iran reach an agreement, a drop in oil prices and fresh highs in the stock market could boost risk assets, but key disagreements still remain.