Technical Analysis

Bitcoin fell back under $78,000 after failing near recent range highs, and Glassnode says options positioning still points to caution. The data highlights lower implied volatility, persistent demand for downside hedges, and a short-gamma area around the mid-$75,000s that could intensify weakness if price drifts lower. BTC was last noted at $76,744 at press time.

GRASS gained more than 27% in a day as optimism around an 'infrastructure supercycle' boosted interest across DePIN-related tokens. Trading volume climbed about 256% to $52 million, while price tested the pattern neckline near $0.46, a level that could open a move toward $0.6555 if cleared. Concentrated ownership and a monthly dip in holders added to the risk backdrop despite the rally.

Ethereum (ETH) was trading in the $2,095–$2,138 Fibonacci "golden zone" at press time following a controlled pullback. Exchange data showed a rising share of whale-held supply sitting on exchanges since May 5, while withdrawals over the past 24 hours fell to a monthly low. The mixed flow signals leave ETH at a decision point, with a bounce needing stronger spot demand and renewed outflows for confirmation.

Bitcoin slid on Friday evening to $75,120, posting a 2.8% daily drop and extending weekly losses to about 5%. In the past 24 hours, long liquidations hit $209 million versus $4.7 million for shorts, while total crypto liquidations reached $577.9 million. Spot bitcoin ETFs also saw $36.29 million in outflows during Friday's session.

Bitcoin derivatives positioning is rebuilding after an roughly eight-month deleveraging stretch, as Binance futures open interest moved back above its 180-day moving average. The shift was flagged by CryptoQuant analyst Darkfost, who said the contraction started after the October 10 event and later began to reverse in early May. BTC was trading at $77,479 at press time.

Despite Ether falling 28% in 2026, analysts argue Ethereum's lead in DeFi, stablecoins and staking supports a long-term accumulation thesis. The network is said to host roughly $43 billion in DeFi liquidity and more than $165 billion in stablecoins, while staked ETH is near 39.1 million coins across over 896,000 validators. Some traders also highlight historical buy zones from $1,000 to $5,000 and model-based "accumulation zone" signals as ETH trades below key long-term averages.

On May 23, Bitcoin hovered in the mid-$70,000s and remained capped below major moving averages, with the 200-day average in the low $80,000s still acting as the key barrier. Hyperliquid (HYPE) pushed into price discovery in the low $60s after clearing resistance in the high $40s, while Zcash (ZEC) surged toward $700 but showed signs of unstable, momentum-driven swings. Dogecoin (DOGE) stayed boxed between roughly $0.10 support and $0.11–$0.12 resistance, and Ethereum (ETH) continued to look weaker than BTC while trading below a declining 200-day average around the mid-$2,500s.

Humanity Protocol’s H fell 13.2% over the past 24 hours, sliding back toward the $0.215 area after failing to hold the $0.28 local range highs. While the broader trend was described as bullish, indicators showed heavy outflows and selling pressure, leaving room for a deeper pullback toward $0.194 or $0.167 if $0.215 breaks.

Kevin Warsh was sworn in as Federal Reserve chair on May 22, completing the leadership handoff after Jerome Powell's chair term ended May 15. The FOMC also unanimously chose Warsh to lead its rate-setting committee, following Senate confirmations on May 12 and May 13 that set his chair term through May 21, 2030, and his Board term through Jan. 31, 2040.

Bitcoin is trading below $80,000 and hovering around the $77,000 area after failing to hold above a recent $82,000 high. XWIN Research Japan argues that Kevin Warsh's takeover as Federal Reserve Chair could shift the policy backdrop and points to the Coinbase Premium, exchange netflows, and leverage conditions as early indicators of how institutional demand and risk appetite may react.