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Bitcoin upside possibly capped by ‘a lot of supply’ at $77K: Analyst
Bitcoin (BTC) rallied to $82,00 back on May 12, but this week’s correction below $74,000 proved that the sell pressure is far from over. Despite Bitcoin displaying strength by distancing itself from its $60,200 yearly low, some analysts believe that coins last moved when Bitcoin traded above $103,000 will continue to weigh on the market.
Alex Thorn, head of research at Galaxy Digital, said that coins from previous market cycles have consistently moved since the Oct. 10, 2025, flash crash. This activity adds to the potential sell pressure from holders who last transacted when BTC traded above $103,000.
Although 4.45 million BTC appear to have changed hands over the last seven months, the supply side remains heavily loaded around $77,000.
Data collected by Thorn showed that half of the supply activated since the October 2025 crash originated from addresses that last moved coins at $103,600 or higher. According to Thorn, the move “makes sense,” indicating that many traders capitulated after a 52% price correction over four months down to $60,200.
HYPE chases new highs as ETF inflows, institutional adoption accelerate
Hyperliquid’s native token HYPE continued to rally, possibly targeting $100 as its next all-time high, as inflows to its exchange-traded funds highlight investor demand.
On Tuesday, inflows into the HYPE ETFs reached $89 million over the previous nine days, which is equivalent to nearly $9.2 million in daily buying pressure.
The combined assets under management (AUM) across Bitwise’s BHYP and 21Shares’s THYP have given HYPE one of the fastest ETF accumulation curves among crypto investment products.
Bitwise CEO Hunter Horseley said BHYP alone recorded roughly $12 million in trading volume during its first 90 minutes of trading. The fund’s assets under management reached $40 million just over a week after launch.
Ethereum price chart targets $1.8K as total value locked hits 13-month lows
Ether’s (ETH) price printed a “bear pennant” on the daily chart, a technical chart formation associated with strong downward momentum. Could a weakening technical setup and a decline in total value locked signal the continuation of ETH’s correction to $1,800?
Ether’s 13% drop from its multi-month highs above $2,400 saw it breach a key trend line that has supported the price since early February.
“ETH is going to dump hard soon?” Chain Mind said in a video posted on X, suggesting where ETH/USD might move next after dropping below the ascending trend line.
“This is the crucial moment for ETH,” Chain Mind said, adding that the price was required to reclaim the support level, otherwise a drop to areas below $1,800 was in the cards.
XRP price trades in ‘value zone’ near $1.40 as whales pull $170M from exchanges
XRP (XRP) traded within a key “value zone” where whales recently accumulated $170 million, signaling a tightening liquidity supply.
XRP whale withdrawals — large exits above 1 million coins per transaction — hit 122 million on Binance on May 22, worth about $170.8 million at current rates, according to data from CryptoQuant.
This marked their first daily withdrawal above 100 million XRP since the 278 million XRP seen in early February.
“What makes the latest move more important is the price context,” CryptoQuant analyst Amr Taha said in a Monday Quicktake post.
Note that the Feb. 9 withdrawal spike happened while XRP was trading near $1.43, while the May 22 spike came with XRP around $1.35.
