CNBC's Tanaya Macheel reports on the latest news regarding bitcoin, which is tracking for an 11% gain this month as public companies and institutions buy in.

New York

Bitcoin is poised for an 11% gain this month, supported by approximately $5.5 billion in inflows into Bitcoin exchange-traded funds (ETFs) and increased adoption by public companies and institutions. Recent high-profile purchases, such as the Trump media deal to acquire $2.5 billion in Bitcoin, have contributed to this trend, with investors closely monitoring these developments.

Market sentiment has also been shaped by political support for cryptocurrency, including statements from US officials and discussions at industry conferences. However, legislative action, particularly regarding stablecoin regulation and the upcoming Genius Bill in the US Senate, remains a key factor that could impact Bitcoin's trajectory in the near future.

Bitcoin tracks for 11% gain in May

Start with Bitcoin. I knew I was going to do that. Tania, tell us about the run in Bitcoin. Yeah, Scott, on track for an 11% gain this month, and the driving force has really been this adoption story at institutions and public companies. About $5.5 billion in inflows into Bitcoin ETFs in May. That uptrend is expected to continue and support Bitcoin price through June. You saw this week the Trump media deal to buy $2.5 billion in Bitcoin, alongside other companies deploying similar strategies. So investors are going to be tracking those purchases. Despite market sensitivity to Trump's statements about tariffs or whatnot, White House support for crypto should allow Bitcoin to keep this uptrend in the month ahead. Vice President J.D. Vance was at the Bitcoin conference this week, reiterating that and trying to inspire some confidence about the future of stablecoins. That said, Congress is the bigger question mark. Some positive developments on stablecoin legislation this month, but what happens next in June as the Genius Bill goes to the Senate floor will have a big impact on sentiment around Bitcoin's fat.

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Washington

Global Tariffs

Trump to put 25% tariff on imports from India

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Hawaii

Tsunami reaches Hawaii after huge quake shakes Russia's Far East

The U.N. General Assembly brought high-level officials together to promote a two-state solution to the decades-old Israel-Palestinian conflict. Israel and the United States are boycotting the two-day meeting, co-chaired by the foreign ministers of France and Saudi Arabia

Middle East Conflict

Israel and U.S. boycott UN Summit for two-state solution

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Trump officials suggest potential tariff truce with China

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Manhattan gunman had 'documented mental health history'

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Ghislaine Maxwell offers to testify before Congress

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London

UK to recognize Palestinian state unless Israel takes action

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Kyiv

Ukraine Invasion

Deadly Russian air raids hit Ukraine as Trump warns of sanctions

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Jerusalem

Rights groups in Israel accuse country of genocide

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France leads UN talks on Israel-Palestine two-state solution

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Bogotá

Ex-Colombian president Uribe convicted of witness tampering, bribery

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Moscow

Russian official calls Trump's ceasefire deadline 'a threat'

Ukraine says Russia's overnight air strikes hit a prison in Zaporizhzhia in the southeast, killing at least 17 people. Another 35 were injured. Authorities say the attacks destroyed the jail buildings and damaged several nearby houses.

Zaporizhzhia

Russian air strikes hit a prison in Ukraine's Zaporizhzhia, 17 killed

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Gunman kills police officer, wounds others in Midtown Manhattan

The suspect in the Michigan Walmart stabbing attack that injured 11 people over the weekend pleaded not guilty Monday to terrorism and assault charges.

Traverse City

Suspect pleads not guilty in Walmart stabbing attack

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U.S. Justice Dept. shuts down four child abuse websites

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Bangkok

Gunman kills five at busy Bangkok fresh food market

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Kuala Lumpur

Thailand and Cambodia agree to ceasefire

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Food arrives in Gaza after Israel pauses some fighting

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Stockholm

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Riedlingen

German train derails, killing at least three people

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Israel announces daily pauses in Gaza fighting as aid trickles in

Abnormally high temperatures combined with heat and drought have fuelled destructive wildfires in parts of Europe, forcing thousands to be evacuated.

Athens

Heat fuels destructive wildfires in parts of Europe

Michigan officials say they will file terrorism charges and 11 charges of assault with intent to murder against the man who allegedly carried out a knife attack at a Walmart on Saturday. Lana Zak reports.

Garfield Township

Suspect in Michigan stabbing rampage to face terrorism charges

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Denver

Passengers evacuate burning plane in Denver

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Edinburgh

Trump announces trade agreement with the European Union

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Tel Aviv-Yafo

Israel says it will establish secure routes for Gaza aid

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Protesters in Scotland take to the streets to decry Trump's visit

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