On May 22nd, the market can be summed up in one phrase: Bitcoin hasn't collapsed, and altcoins are continuing to diverge.
BTC is currently hovering around $77,000, with a slight pullback over the last 24 hours, but there's been no panic sell-off. The total market cap is about $2.67 trillion, and trading volume has actually seen a slight uptick from the previous day, indicating that money hasn't exited; it's just being more selective.
The strongest player lately is still HYPE. It's topping the CoinGecko hot charts and CoinDesk is also mentioning it as it continues to reach new highs. The market is currently like this: big caps are stable, while only the strongest narratives among small caps can keep attracting liquidity.
Another point worth watching is that traditional finance is still pushing onto the blockchain. MoonPay has started providing stablecoins, tokenized assets, and DeFi access for banks and fintech companies; Blockchain.com has also submitted a confidential IPO application in the US. This signal may not lead to an immediate surge, but it adds to the mid-term outlook for the industry.
So, my judgment today hasn't changed: this isn't a full-blown bull run; it feels more like a phase where funds are hugging core assets and strong leaders. Don't chase after random small caps, keep your eyes on the main narratives, and wait for Bitcoin to choose its direction first.
BTC is currently hovering around $77,000, with a slight pullback over the last 24 hours, but there's been no panic sell-off. The total market cap is about $2.67 trillion, and trading volume has actually seen a slight uptick from the previous day, indicating that money hasn't exited; it's just being more selective.
The strongest player lately is still HYPE. It's topping the CoinGecko hot charts and CoinDesk is also mentioning it as it continues to reach new highs. The market is currently like this: big caps are stable, while only the strongest narratives among small caps can keep attracting liquidity.
Another point worth watching is that traditional finance is still pushing onto the blockchain. MoonPay has started providing stablecoins, tokenized assets, and DeFi access for banks and fintech companies; Blockchain.com has also submitted a confidential IPO application in the US. This signal may not lead to an immediate surge, but it adds to the mid-term outlook for the industry.
So, my judgment today hasn't changed: this isn't a full-blown bull run; it feels more like a phase where funds are hugging core assets and strong leaders. Don't chase after random small caps, keep your eyes on the main narratives, and wait for Bitcoin to choose its direction first.