Bitcoin Rises 8.2% in May, Hitting $111,616; $688M Crypto Liquidations Follow Market Sell-Off
Key Takeaways
- May 31 crypto crash led to $688M in liquidations as Ether, XRP, Solana fell.
- In May 2025, BTC rose 8.2%, peaking at $111,616 before pulling back to $104,420.
- On May 31, Bitcoin ETFs saw $358.6M net outflows, ending a 10-day positive streak.
- As of May 31, institutional interest in Bitcoin remains strong.
- Trader James Wynn liquidated after $37M loss from $1.25B BTC long position.
Top Stories
May 31 crypto crash: $688M liquidations amid sell-off
On May 31, 2025, a price drop led to over $600 million in liquidations in the crypto market. The broader crypto market experienced a sell-off, with Ether, XRP, Solana, and Dogecoin falling, contributing to a total of $688 million in liquidations.
May 2025: BTC rose 8.2%, peaked at $111,616
In May 2025, BTC rose 8.2%, reaching a monthly high of $111,616 before pulling back to $104,420. This pullback was attributed to global macroeconomic uncertainty and regulatory developments.
May 31: Bitcoin ETFs see $358.6M net outflows
On May 31, 2025, U.S. spot Bitcoin ETFs recorded $358.6 million in net outflows. This ended a 10-day streak of positive flows that had brought in $4.26 billion.
Institutional Bitcoin interest remains strong as of May 31
As of May 31, 2025, institutional interest in Bitcoin remains strong. Firms like Strategy (formerly MicroStrategy) and GameStop are adding BTC to their corporate treasuries.
Trader liquidated after $37M loss on BTC long
On May 31, 2025, James Wynn, a trader known for high-risk moves on Hyperliquid, was fully liquidated. He ended with $23 on his account after a $37 million loss from a $1.25 billion long on BTC.
Market Pulse
Dimon criticizes Bitcoin, JPMorgan to offer Bitcoin buys
On May 31, 2025, JPMorgan CEO Jamie Dimon stated the U.S. should prioritize defense logistics over stockpiling bitcoin. Despite his criticism at the Reagan National Defense Forum in California, JPMorgan will soon allow clients to buy bitcoin.
Regulation Front
NYC Comptroller criticizes Mayor's 'BitBond' proposal
On May 31, 2025, NYC Comptroller Brad Lander criticized Mayor Eric Adams' proposed "BitBond," stating it could jeopardize NYC’s credit reputation. Lander rejected the proposal shortly after Adams pitched it at a bitcoin conference in Las Vegas.