CoinDesk
Bitcoin has erased every gain it made in May, sliding to $76,700 in Monday morning U.S. trade as the crypto market extends last week's weakness. BTC is down 1.5% over the past 24 hours, with ETH tracking a similar decline. Solana and XRP are taking a harder hit, each off more than 2%.
The one bright spot in the session is Hyperliquid's HYPE token, up 7% on excitement surrounding a SpaceX pre-IPO listing on the platform — a rare piece of positive flow in an otherwise risk-off morning.
Michael Saylor's Strategy announced one of its largest weekly bitcoin purchases on record, adding $2 billion to its holdings funded almost entirely through sales of its high-yielding STRC preferred stock. The buy signals continued institutional conviction at current levels, though it hasn't been enough to arrest the broader slide. With BTC back below $77K, May's narrative of a recovery has effectively…
Glassnode