Hey Crypto Addicts,

Here is one of the most structurally interesting data points in crypto right now. And it has nothing to do with the price chart.

Google Trends shows Bitcoin search interest in mid-May 2026 fell below the levels seen during the 2022-2023 bear market, when Bitcoin was trading near $16,000 and FTX had just collapsed. Bitcoin is currently trading around $69,000. Roughly 4 to 5 times higher than the 2022 floor.

Read that again. Less retail interest at $69,000 than at $16,000.

The disconnect is one of the most structurally interesting dynamics in crypto since the asset class became investable.

The historical pattern is consistent. In December 2017, Google search interest for Bitcoin hit 100, marking the peak of retail attention. That same week Bitcoin hit its cycle high. Retail attention peaked precisely at the top and collapsed at the bottom. The 2021 cycle followed the same pattern exactly.

Right now retail has left the building. Institutions are still buying. ETF infrastructure is still being built. Stablecoins, RWA tokenization and specific narratives keep growing despite weak broad search interest.

Nobody is searching for crypto right now. Historically that is exactly when the smart money is the busiest. ☕

While some treasury firms are selling Bitcoin to fund dividends and others are winding down entirely, France's Capital B just proposed raising €5 billion in new equity and €116 billion in credit instruments to buy more.

The proposal was submitted to shareholders on June 1 for a vote at the June 17 general meeting. If approved, it gives Capital B authority to issue up to 125 billion new shares alongside the largest debt facility ever proposed by a European Bitcoin treasury company.

Capital B currently holds 3,139 BTC and ranks as the second-largest Bitcoin treasury in Europe behind Germany's Bitcoin Group SE. The company rebranded from The Blockchain Group in July 2025 after restructuring entirely around a Bitcoin accumulation model.

The timing is deliberately contrarian.

Strategy sold 32 BTC last week to fund dividends. French semiconductor company Sequans Communications announced it is liquidating its entire 658 BTC position to refocus on semiconductors. Capital B is going the other direction at full speed.

Adam Back, inventor of Hashcash, holds a 13.43% personal stake in Capital B. Blockstream Capital Partners, which he advises, holds another 14.42%.

Bitcoin is below $70K. Sentiment is at 24 Extreme Fear. Capital B just proposed the largest Bitcoin fundraise in European history.

Extraordinary conviction. Or extraordinary timing. Probably both. ☕

Solana's $1B ETF Problem

Solana spot ETFs crossed $1.06 billion in total AUM. Goldman Sachs is a confirmed holder. Fidelity runs its own validator. Western Union launched payments on Solana. The catalyst stack is arguably the cleanest of any top-five crypto.

And SOL is down 77% from its all-time high…

ETF inflows represent genuine new demand. But venture capital token unlocks from seed-stage investors sitting on 10x to 50x returns are consistently absorbing that demand. Every institutional dollar coming in through ETFs is being offset by early backers selling into the rally at dramatically lower cost bases.

The institutional picture has also shifted.

Goldman Sachs fully exited its $108 million Solana ETF position in Q1 2026. Bank of America trimmed exposure on May 23. Monthly net ETF inflows collapsed from $419 million in November 2025 to $34 million by April 2026. Daily active users fell from 6.4 million to 2.8 million.

The Alpenglow upgrade is coming with 150ms finality. Firedancer hit 1 million TPS in load tests. 700+ days of continuous uptime.

The technology is improving. The price is falling.

The unlock schedule runs through Q3 2026. Until that supply headwind resolves, ETF inflows alone cannot move the price.

Solana has the best catalyst stack in crypto and the worst near-term supply dynamic.☕

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MoneyGram Goes Stable

One of the world's largest money transfer companies is making a major move into digital assets.

MoneyGram has officially launched MGUSD, its own U.S. dollar-backed stablecoin built on the Stellar blockchain, marking a significant step toward integrating blockchain technology into everyday global payments.

The stablecoin will initially launch in the United States before expanding internationally across MoneyGram's vast network of more than 60 million customers and nearly 500,000 retail locations worldwide.

Unlike many traditional financial firms that have partnered with existing stablecoins, MoneyGram is creating its own digital dollar infrastructure. MGUSD will be embedded directly into the MoneyGram ecosystem, allowing users to hold, send, and convert dollar-denominated balances through the company's payment network.

The project is being supported by Bridge (a Stripe company), M0, and Fireblocks, which provide issuance, smart contract, and wallet infrastructure.

The launch highlights the growing race among financial giants to embrace stablecoins as a faster and more efficient alternative to traditional payment rails.

For crypto investors, it's another reminder that stablecoins are no longer just a crypto-native product, they are rapidly becoming part of the mainstream financial system. As adoption accelerates, the line between traditional finance and blockchain technology continues to blur.☕

The Future of Crypto Banking Is Here

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Bitcoin Still Bearish

Bitcoin continues to trade in a firmly established bearish trend, with aggressive selling pressure keeping the market locked in a sequence of lower highs and lower lows. Recent price action suggests that sellers remain in full control, with the market showing little evidence of a meaningful bottoming process at this stage.

A key focus for traders is the current yearly swing low. This low is widely considered a weak low, meaning liquidity remains beneath it and the level has not yet been fully tested or swept. In market structure terms, weak lows are often vulnerable to being breached as price seeks liquidity before a more sustainable reversal can develop.

What Bitcoin has yet to establish is a strong low. Historically, strong lows form after prolonged periods of consolidation, accumulation, and value acceptance. These phases allow larger market participants to build positions before a broader trend reversal occurs. At present, no such accumulation structure is visible on the chart.

As a result, the probability of further downside remains elevated. A break below the current swing low could trigger a move beneath $60,000, with the $50,000 region emerging as a potential area where a larger macro bottom may begin to form.

Until clear signs of accumulation appear and the bearish market structure is invalidated, the path of least resistance remains to the downside, with lower prices continuing to be the higher-probability outcome in the near term.☕

AI-powered humanoid robots may be advancing rapidly, but experts say they are still years away from replacing human workers on a large scale. While companies such as Tesla, Nvidia, Figure AI, and other robotics firms continue to make progress in developing human-like machines, significant challenges remain around reliability.

Crypto is increasingly becoming a contrarian investment as investor attention shifts toward booming AI stocks, according to Bitwise CIO Matt Hougan. While companies tied to artificial intelligence continue to attract capital and push equity markets to new highs, crypto markets have struggled with ETF outflows, weak trading volumes.

The UK's House of Lords has warned the Bank of England against creating regulations for pound-backed stablecoins that are so restrictive they effectively prevent the sector from growing. Lawmakers argued that while consumer protection and financial stability are important, overly burdensome rules could push innovation.

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The IRS didn't buy the dip, but they definitely want their share…