Trump Media-linked Truth Social Bitcoin ETF, B.T. has asked the US Securities and Exchange Commission to withdraw its spot Bitcoin ETF registration, ending, at least for now, one of the more politically visible attempts to enter the already crowded US Bitcoin fund market.
Trump Media & Technology Group, the parent entity operating the Truth Social platform, has rescinded its filings for two cryptocurrency exchange-traded funds with the U.S. Securities and Exchange Commission.
Bitcoin is currently changing hands around $77,175 as of Wednesday's early trading session, posting a modest 0.4% advance. This uptick follows a mid-week decline that brought prices dangerously close to the $76,000 threshold, representing a significant pullback from last week's peak above $82,000.
Ether and the wider altcoin sector are struggling to keep pace with Bitcoin, according to a new report from JPMorgan.
Gold and Bitcoin are moving in opposite directions after the U.S.-Iran war, as higher yields and inflation fears pressure precious metals while improved liquidity supports Bitcoin's rebound above key support levels.
The withdrawal of crypto ETF plans by Truth Social may signal shifting strategies or regulatory challenges in the evolving digital asset market. Trump's Truth Social files to scrap Bitcoin, Ether and blue chip ETF plans.
Bitcoin's on-chain profitability has recovered sharply from its March lows, but analyst Axel Adler Jr. says the market still lacks a stronger behavioral confirmation that a durable reversal is underway.
Traders' unrealized profit margin reached 17.7% on May 5, 2026. Executed profits in the spot market hit a daily peak of 14.6K BTC on May 4, 2026. Apparent spot demand recorded a contraction of minus 11K BTC according to the latest compiled data.
Bitcoin price started a fresh decline below the $76,800 zone. BTC is consolidating and might struggle to stay above the $76,000 support.
Its advisor, Yorkville America, said the withdrawal is a strategic move to reapply under a more efficient securities framework.
Bitcoin (BTC) has slipped after failing to clear a major ceiling around the $83,000 area, with the flagship cryptocurrency down nearly 5% over the past week. As of Tuesday evening, BTC was changing hands at roughly $76,750.
Bitcoin has lost the $80,000 level as selling pressure and market uncertainty converge on a price structure that analyst Rei Researcher has identified as one of the most sensitive zones Bitcoin has occupied in this entire cycle.