Bitcoin hovered above $77,000 as more than $1.8 billion in BTC and ETH options were set to expire on May 22. Derivatives positioning showed longer-term bullish targets near $90,000 even as institutions added short-term downside hedges into month-end.

Bitcoin was last seen around $77.3k at the end of the week, continuing a consolidation that has lasted nearly two weeks inside the $75k–$80k range. Price structure remains supported by an ascending channel and a $75k demand zone, while reclaiming $80k is highlighted as a key step for a stronger bullish case. Funding rates have flipped back to a modest +0.004, suggesting support is holding without heavy short-squeeze pressure.

Crypto analyst Phila says Bitcoin has broken a support level that held for 14 years, after BTC fell below the $80,000 psychological mark. He argues the move reflects capitulation and suggests a potential drop toward $55,000, with $50,000 also "on the table." Bitcoin was last quoted around $77,500 over the past 24 hours.

Kevin Warsh is expected to be sworn in as the 17th Federal Reserve Chair at the White House on Friday, May 22, a shift XWIN Research Japan says could show up first in Bitcoin's on-chain indicators. The firm highlights the Coinbase Premium and exchange netflows as early gauges of U.S. institutional demand and potential risk-off positioning, with BTC last trading just above $77,000 after dipping near $76,000 and stalling around $78,000.

Trump Media & Technology Group moved 2,650 BTC to Crypto.com late on May 21, a tranche valued at roughly $205 million at the time. After buying 11,542 BTC for about $1.37 billion in mid-2025, the firm is now estimated to be sitting on around $480 million in unrealized losses with Bitcoin near $77,200. Its remaining BTC balance is estimated at about 6,889 BTC following the latest outflow.

Crypto sentiment has weakened as the Fear and Greed Index slid to 27, following prior readings of 45 a month ago, 30 last week, and 28 yesterday. Bitcoin is trading at $77,176, down 4.3% over the past seven days, while price action continues to pressure the $76,000–$77,000 support zone that has been tested repeatedly in recent weeks.

A wallet associated with Trump Media & Technology Group transferred 2,650 BTC to Crypto.com on May 22, a move valued at about $204.93 million. The address reportedly still holds 6,889 BTC worth roughly $532.78 million, while the company has not explained whether the deposit reflects a sale, custody shift, or liquidity arrangement.

Bitcoin’s open interest on Binance expanded by about 40% over the past 82 days, rising from $6.4 billion in early March to roughly $8.9 billion by May 22. The move pushed OI above its 180-day moving average, while funding rates turned positive, as BTC traded near $77,145 at press time. Finbold AI Agent projected BTC could fall 2.34% to $75,343 on May 29, even as a rebound above $80,000 was framed as possible if leverage-driven long demand persists.