{"id":3299,"date":"2026-05-22T21:37:20","date_gmt":"2026-05-22T21:37:20","guid":{"rendered":"https:\/\/blog.coinsignals.net\/?p=3299"},"modified":"2026-05-22T21:37:20","modified_gmt":"2026-05-22T21:37:20","slug":"bitcoin-breaks-below-major-support-as-hype-reaches-record-high-ahead-of-new-fed-leadership","status":"publish","type":"post","link":"https:\/\/blog.coinsignals.net\/index.php\/2026\/05\/22\/bitcoin-breaks-below-major-support-as-hype-reaches-record-high-ahead-of-new-fed-leadership\/","title":{"rendered":"Bitcoin Breaks Below Major Support as HYPE Reaches Record High Ahead of New Fed Leadership"},"content":{"rendered":"\n
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\"\"<\/figure>\n<\/figure>\n\n\n\n

Aside from HYPE, NEAR and VVV emerged as the other top weekly performers in the crypto market.<\/p>\n\n\n\n

One of the most closely watched financial events is set to unfold within hours as the United States Federal Reserve prepares for a leadership transition after more than eight years under Jerome Powell.<\/p>\n\n\n\n

Before markets shift focus fully to the incoming Federal Reserve Chair, the past week delivered significant volatility across Bitcoin and the broader cryptocurrency market.<\/p>\n\n\n\n

Bitcoin climbed above $82,000 near the end of the previous trading week after progress surrounding the CLARITY Act in the US Senate boosted sentiment. However, the rally quickly lost momentum, and the leading cryptocurrency fell below the key $80,000 support level by Friday evening.<\/p>\n\n\n\n

The decline extended through the weekend, with Bitcoin dropping below $78,000 on Saturday before stabilizing near that range on Sunday.<\/p>\n\n\n\n

Selling pressure intensified again at the start of the new business week, pushing Bitcoin down to approximately $76,000, its lowest level since early May. Within less than a week, the asset had lost more than $6,000 in value.<\/p>\n\n\n\n

Bitcoin later attempted a modest rebound and briefly touched $78,000 on Thursday. Even so, bearish market sentiment and weak technical structure prevented a stronger recovery, leaving BTC struggling to hold above the $77,000 mark at the time of writing.<\/p>\n\n\n\n

Markets Await the Kevin Warsh Era at the Federal Reserve<\/strong><\/p>\n\n\n\n

Attention is now shifting toward the Federal Reserve\u2019s leadership transition as Kevin Warsh officially begins his tenure as Fed Chair today.<\/p>\n\n\n\n

Earlier analysis from XWIN Research Japan suggested that Bitcoin\u2019s short term price direction may depend more heavily on liquidity conditions and key on chain indicators than on the leadership change itself.<\/p>\n\n\n\n

Analysts specifically highlighted risks tied to quantitative tightening policies and warned traders to closely monitor signals such as the Coinbase Premium and Bitcoin exchange netflows for early signs of institutional sentiment changes.<\/p>\n\n\n\n

As a result of the broader market weakness, Bitcoin closed the week in negative territory alongside most major altcoins.<\/p>\n\n\n\n

HYPE Dominates Weekly Gains With New All Time High<\/strong><\/p>\n\n\n\n

While large cap cryptocurrencies struggled, HYPE emerged as the standout performer of the week.<\/p>\n\n\n\n

The token surged more than 43% over the past seven days and reached a new all time high above $62, significantly outperforming the rest of the market. Other notable weekly gainers included ZEC, NEAR, ONDO, and VVV, all of which posted double digit percentage increases.<\/p>\n\n\n\n

Current Market Snapshot<\/strong><\/p>\n\n\n\n

Market Capitalization: $2.666 trillion<\/p>\n\n\n\n

24 Hour Trading Volume: $76 billion<\/p>\n\n\n\n

Bitcoin Dominance: 58%<\/p>\n\n\n\n

BTC: $77,100, down 2% weekly<\/p>\n\n\n\n

ETH: $2,125, down 3.8% weekly<\/p>\n\n\n\n

XRP: $1.36, down 4.8% weekly<\/p>\n\n\n\n

Major Crypto Stories From the Week<\/strong><\/p>\n\n\n\n

Bitcoin Pizza Day Marks 16 Years Since Crypto\u2019s First Real World Purchase<\/strong><\/p>\n\n\n\n

The crypto industry celebrated the 16th anniversary of Bitcoin Pizza Day on May 22. In 2010, early Bitcoin adopter Laszlo Hanyecz famously purchased two pizzas from Papa John\u2019s using 10,000 BTC, creating one of the first documented Bitcoin transactions in history.<\/p>\n\n\n\n

Bitcoin Whales Continue Accumulating<\/strong><\/p>\n\n\n\n

New data from Santiment showed that wallets holding at least 100 BTC continue increasing steadily. The number of such wallets reportedly climbed to 20,229, representing an 11.2% increase compared with the same period last year.<\/p>\n\n\n\n

CME XRP Futures Reach $63 Billion in Trading Volume<\/strong><\/p>\n\n\n\n

This week also marked the first anniversary of XRP futures trading on the Chicago Mercantile Exchange. CME highlighted strong adoption metrics, including approximately $63 billion in cumulative trading volume and millions of contracts traded since launch.<\/p>\n\n\n\n

Truth Social Exits the Crypto ETF Race<\/strong><\/p>\n\n\n\n

Media platform Truth Social unexpectedly withdrew from the crypto ETF market, claiming its filing structure relied on the Securities Act of 1933 instead of the Investment Company Act of 1940. However, several analysts questioned whether that explanation represented the true reason behind the company\u2019s departure.<\/p>\n\n\n\n

Strategy Expands Bitcoin Holdings With Massive Purchase<\/strong><\/p>\n\n\n\n

Strategy, founded by Michael Saylor, announced one of its largest Bitcoin acquisitions in recent months. The company spent more than $2 billion to purchase 24,869 BTC, increasing its total holdings to approximately 843,738 Bitcoin.<\/p>\n\n\n\n

Iran Reportedly Introduces Bitcoin Based Shipping Insurance<\/strong><\/p>\n\n\n\n

Reports also surfaced this week claiming that Iran launched a Bitcoin based insurance system for ships traveling through the Strait of Hormuz. The initiative appears separate from an earlier proposal that involved requiring vessels to make Bitcoin payments while crossing the region.<\/p>\n\n\n\n

Chart Analysis This Week<\/strong><\/p>\n\n\n\n

This week\u2019s technical analysis section focuses on Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid.#crypto#cryptonews https:\/\/coinsignals.net<\/a> https:\/\/t.me\/coinsignalpublic<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Aside from HYPE, NEAR and VVV emerged as the other top weekly performers in the crypto market. One of the most closely watched financial events is...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3299","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/3299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/comments?post=3299"}],"version-history":[{"count":1,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/3299\/revisions"}],"predecessor-version":[{"id":3301,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/posts\/3299\/revisions\/3301"}],"wp:attachment":[{"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/media?parent=3299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/categories?post=3299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.coinsignals.net\/index.php\/wp-json\/wp\/v2\/tags?post=3299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}