Stunt cycle
What's being bought and sold*
TOP TRENDING ASSETS
*Trading activity in the past 24 hours on the Uphold platform, as of 8 a.m. 26th May 2025.
The combined total of buy and sell percentages can exceed 100% due to customers who engage in both buying and selling the same asset within the 24-hour time frame.
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What’s up
Bitcoin's Roll Has Been Slowed
Bitcoin begins a new week striving to be $110K in a world beset by the fog of a trade war. So for now, BTC's record-breaking rally has stalled. At the same time, BTC's basic behavior is possibly in the midst of a metamorphosis. Expect twists.
The largest coin spent most of the weekend grounded after reaching an all-time high close to $112K on Thursday, May 22.
At its lowest point yesterday, BTC nearly sank below $107K. Tariff uncertainty continues to govern world markets with attuned investors forced to endure an ever-shifting concerto of scenario-plan selections based on the whims of President Trump.
"Sentiment appears to be holding for those betting on a favorable outcome to U.S. trade policy," Decrypt said, noting BTC's jump from $108K last night to nearly $110K as of early this morning.
Investors, in other words, have named crypto as beneficiary of their doubts.
On Friday, Trump called for a 50% tariff on European Union goods, starting June 1. But then yesterday he said he was delaying the 50% tariffs to July 9.
The pan-European Stoxx 600 earlier today went into the green, rising 0.9%.
UK markets are closed for a spring bank holiday. U.S. markets are also closed in observance of Memorial Day.
What's down
HYPE Boils Over
A decentralized derivatives trading platform, Hyperliquid, is living the dream on this otherwise relatively quiet Monday.
Daily volume is soaring. The platform's native HYPE has surged 50% in the past week, hitting a new ATH near $40 late last night. Meanwhile, some whale of a trader is making unabashedly outsized, leveraged long and short bets, generating fees for the platform, and headlines regarding the whale's trades.
Demand for decentralized trading is rising simultaneously with Hyperliquid’s buyback strategy for its HYPE token, still ongoing, helping to boost its value, Coinspeaker said.
Since hitting the record spot price of, per CoinGecko, $39.68, HYPE has shed about 4% to now sit closer to $38.
What's next
Digital Gold Finding Its Swim Lane
Markets are in a holding pattern. Trump's tariff policy is, once again, a source of volatility. That goes for both traditional and digital assets, Decrypt said.
Lately, BTC has been trading more in line with gold, according to Ryan McMillin, CIO, Merkle Tree Capital. Two reasons for that. BTC is seen as a non-sovereign asset, and an inflation hedge.
With global money supply growing in recent months, alongside confusion as to where the trade war is heading, gold has tasted all-time highs. "Now Bitcoin is catching up," McMillin said. "We expect this trend to continue."
Checking XAU over the past seven days, we see a 2.6% gain for the tokenized proxy for that most precious metal; by comparison, digital gold BTC gained 6.6%.
