Bitcoin declined on Saturday, trading above the $74,000 level as investors remained cautious amid ongoing geopolitical tensions in the Middle East and uncertainty surrounding cryptocurrency regulation in the United States.
According to data from CryptoQuant, the share of XRP withdrawal transactions on Binance increased to 53% over the past seven days. At the same time, the share of deposit transactions declined to 47%.
Zcash is one such cryptocurrency, with its price rising by 100% over the past month to $650. As a result, its market capitalisation exceeded $11 billion, pushing the project to 13th place in the CoinGecko rankings.
Bitcoin moved into a downward trend as active trading began on US exchanges. According to TradingView, shortly after the opening bell on Wall Street, the BTC/USD pair corrected below the $77,000 level.
According to the report, Bitcoin gained approximately 11.8% over the past 30 days, reaching $78,272. However, stagnant open interest in options and a 51% decline in put option premiums indicate that the rally was largely driven by spot buying activity. Analysts at VanEck stated that demand for downside hedging in the options market has dropped sharply, although investors remain cautious overall.
Over the past seven days, prices of most major cryptocurrencies showed positive momentum despite the trend among market leaders — Bitcoin and Ethereum, which declined by 4% and 6% respectively. Bitcoin remains near $77.7k, while Ethereum trades around $2.1k. Against this backdrop, several altcoins from the top 100 by market capitalization posted double-digit gains, significantly outperforming the broader market.
The value of NEAR Protocol surged by 30% to a daily high of $2.25, marking a gain of more than 70% since the beginning of May and briefly pushing its market capitalisation above $2.9 billion.
Bitcoin edged lower on Thursday near $77,000 levels and was set for a weekly loss, as a fresh wave of liquidations and lingering uncertainty over U.S.-Iran negotiations weighed on broader risk sentiment.
The native token of the decentralised perpetual futures exchange Hyperliquid has surged more than 50% over the past week amid growing institutional interest. Strong demand for the asset in the United States has been compared to the performance of Bitcoin.
The native token of the Hyperliquid ecosystem has surged more than 50% in about a week and exceeded the $50 level for the first time in approximately eight months.
Bitcoin lost its recent gains after failing to hold above the $78,000 level and falling back to just above $77,000.
Zcash, the privacy-focused cryptocurrency, surged more than 17% within six hours, reaching a new yearly high on 20 May. As a result of the rally, its monthly gains exceeded 90%, while its market capitalisation surpassed $11 billion, overtaking rival Monero.
Bitcoin rose close to $78,000 on Thursday as strong earnings from NVIDIA boosted optimism around artificial intelligence spending, while easing tensions in the Middle East supported demand for risk assets.
Around 10% of Bitcoin’s total supply is at risk due to the development of quantum computers, according to analytics platform Glassnode, which pointed to the need for implementing a quantum-resistant solution such as BIP-360.
Total stablecoin market capitalisation has reached another all-time high, surpassing $323 billion. Over the past 30 days, most of the growth came from $USDT issued by Tether, while many competitors experienced declining market caps. At the same time, $USDC issued by Circle maintained leadership in transaction volume across all blockchain networks combined.
Hyperliquid’s native token, $HYPE, has once again moved into the spotlight following a major buying spree by a wallet linked to Silicon Valley venture capital giant Andreessen Horowitz (a16z). Over recent weeks, the address accumulated approximately $90.87 million worth of $HYPE. As a result, the market has once again begun discussing the possibility of a continued rally in the token.
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