Bitcoin Loses Key Support Levels, HYPE Sets New ATH, Markets Brace for New Fed Chair: Weekly Recap

Perhaps essentially the most anticipated monetary and financial occasion is simply hours away, because the US Federal Reserve may have a brand new Chairman after greater than eight years below Jerome Powell.

But, earlier than we discover the seventeenth chair of the monetary establishment, let’s rewind the clock for every week and assessment what occurred within the final seven days via the eyes of bitcoin (and some alts). The main cryptocurrency jumped previous $82,000 on the finish of the earlier enterprise week after the CLARITY Act made progress within the US Senate, however it was shortly rejected and had misplaced the $80,000 help by Friday night.

It dipped additional on Saturday to below $78,000 earlier than it calmed at round that stage on Sunday. Another couple of leg downs adopted at the start of the enterprise week, driving the asset south to its lowest worth stage since early May at $76,000.

This meant that the cryptocurrency had misplaced over $6,000 in 4-5 days. After this substantial retracement, bitcoin rebounded barely and tapped $78,000 on Thursday. However, the predominantly bearish market construction and sentiment have been too sturdy, and BTC was halted there, presently struggling to stay above $77,000.

A significant market shift is predicted to unfold quickly, because the monetary business has braced for a change in Fed management. As reported earlier, the Kevin Warsh period begins as we speak, however analysts from XWIN Research Japan outlined sure dangers and on-chain indicators that might be extra essential to BTC’s short-term worth strikes than the brand new Fed chair stepping in.

Consequently, BTC ends the week within the purple, just like most larger-cap alts. However, HYPE has stolen the show because it painted a brand new all-time high above $62 following a mind-blowing 43% weekly surge. ZEC, NEAR, ONDO, and VVV full the double-digit worth gainers membership.

Market Data

Market Cap: $2.666T | 24H Vol: $76B | BTC Dominance: 58%

BTC: $77,100 (-2%) | ETH: $2,125 (-3.8%) | XRP: $1.36 (-4.8%)

This Week’s Crypto Headlines You Can’t Miss

Bitcoin Pizza Day 2026: Commemorating Crypto’s First Real-World Transaction. It wouldn’t be May 22 with out celebrating what grew to become referred to as the International Bitcoin Pizza Day. On this date 16 years in the past, Floridian programmer and early BTC adopter Laszlo Hanyecz ordered two pizzas from Papa John’s and paid with 10,000 BTC. This was one of many first (if not the very first) documented Bitcoin transactions, and the remaining is historical past, as they are saying.

Bitcoin’s Biggest Holders Are Accumulating Again: What Are Whales Preparing For? Bitcoin wallets holding no less than 100 items proceed to build up, as new knowledge from Santiment Intelligence explained that this cohort of buyers has grown to twenty,229. This is an 11.2% enhance because the 18,191 wallets recorded this time final yr.

XRP Futures on CME One Year Later: $63B in Trading Volume and Counting. This week marked the primary anniversary of XRP futures going reside on the Chicago Mercantile Exchange (CME). The veteran platform celebrated the occasion by highlighting spectacular figures, together with buying and selling quantity and the variety of contracts purchased and offered.

Trump-Linked Truth Social Suddenly Pulls Crypto ETF, Analyst Doubts Reasoning Behind Exit. The media conglomerate linked to the First Family pulled out of the crypto ETF race, arguing that it had filed below the Securities Act of 1933 as an alternative of the Investment Company Act of 1940. However, analysts weren’t satisfied that was the true motive the entity exited the ETF house.

Saylor’s Strategy Reloads With a New Multi-Billion-Dollar Bitcoin Purchase. Following a few extra modest BTC purchases, the Saylor-founded bitcoin accumulator introduced its most important purchase in a very long time. It splashed over $2 billion to amass 24,869 BTC and elevated its stash to a whopping 843,738 items.

Iran Reportedly Launches Bitcoin-Based Shipping Insurance for Hormuz Passage. Reports emerged earlier this week indicating that Iran had launched a Bitcoin-based delivery insurance coverage for vessels passing via the Strait of Hormuz. This was a distinct initiative than the one outlined final month, which requested passing ships to pay as much as $2 million in BTC.

Charts

This week, we now have a chart evaluation of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid – click here for the complete price analysis.

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