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23 May 2026, 05:18
Overleveraged Bitcoin bulls get crushed in $576M wipeout
Crypto bulls saw more than half a billion dollars wiped out in liquidations after the crypto market printed red indexes all around. The cumulative digital assets market cap dipped by more than 2% over the last 24 hours to hover around $2.53 trillion. Bitcoin saw $55 billion leave its market cap amid the fresh sell-off. BTC price dropped by 3% while Ether slid by 4%. This comes in when the US Securities and Exchange Commission (SEC) delayed its planned exemption framework linked to tokenized crypto stock trading. However, Kevin Warsh also got sworn in as the new chairman of the Federal Reserve. BTC pullback wipes out bulls According to CoinGlass data, more than 124,000 traders were liquidated over the past 24 hours. The total liquidations went on to hit $574.28 million. The single largest liquidation reportedly occurred on Bitget through the BTCUSDT perpetual pair. That one order was valued at around $32.4 million. Around 90% of those liquidated positions (approx $524 million) were bullish longs. This suggests that traders were expecting the crypto market to keep recovering, but it went the other way. Crypto liquidation on exchanges over the last 24 hours; Source: Coinglass Bitcoin price fell straight to the $75,000 level, triggering the liquidation of $214 million alone. Data shows that $209 million worth of liquidated bets (97%) turned out to be long positions. BTC has been dealing with mixed sentiments lately. Its price has dropped by 3% in the last 30 days, but it has still remained up by almost 7% over the past 60 days. The broader crypto market also weakened alongside Bitcoin. Ethereum, Solana, and XRP all declined more sharply as traders reduced risk exposure ahead of the weekend. The move comes during an increasingly fragile macro backdrop. Cryptopolitan reported that Kevin Warsh was officially sworn in as the new chairman of the Federal Reserve. He was appointed by US President Donald Trump. However, Jerome Powell will reportedly remain at the Fed as a governor. During the swearing-in ceremony, Warsh said he would lead a “reform-oriented Federal Reserve” while learning from both past successes and failures. BTC traders face $2B liquidation risk Markets are also reacting to escalating tensions involving Iran. Reports suggest Trump is preparing for potential new military strikes against Iran. This comes after he canceled Memorial Day weekend plans. Multiple US military and intelligence officials reportedly also canceled travel plans and were placed on standby. This has fueled concerns that another geopolitical escalation could hit global markets. Bitcoin continues hovering inside a highly leveraged trading zone. Analysts suggest that it could trigger even larger forced liquidations. CoinGlass liquidation heat maps show that if Bitcoin falls below roughly $73,786, then it can trigger more than $1.29 billion in leveraged long positions of liquidation. It added that a breakout above roughly $80,995 would activate around $1.22 billion in bearish short positions. Derivatives analysts describe this setup as a liquidation “minefield”. This is where relatively small price moves can rapidly trigger cascading liquidations on either side of the market. It is being warned that Bitcoin breaking below $70,346 would place more than $2 billion in bullish positions at risk. The smartest crypto minds already read our newsletter. Want in? Join them .
23 May 2026, 05:18
Binance Responds to WSJ Report on Alleged Iran-Linked Transactions
Binance disputed WSJ claims and said reported transactions occurred before sanctions were imposed. Internal reports allegedly linked $850 million in Binance transfers to Babak Zanjani accounts. Binance said it investigated the activity early and continues working with global regulators. Binance Chief Executive Officer Richard Teng pushed back against a report by The Wall Street Journal alleging that Iranian-linked entities continued to move funds through the crypto exchange despite sanctions scrutiny of the company. The response followed claims that accounts linked to Iranian businessman Babak Zanjani remained active on the platform for months after internal investigators reportedly identified suspicious activity linked to sanctions evasion and money laundering. In a statement on X, Teng said the newspaper’s reporting contained “fundamental inaccuracies” r… Read The Full Article Binance Responds to WSJ Report on Alleged Iran-Linked Transactions On Coin Edition .
23 May 2026, 05:03
HYPE surges to $62.50 as XRP stalls at $1.35
🚀 HYPE soared to $62.50 while $XRP stayed flat near $1.35. HYPE’s gains came from strong buybacks and a deflationary supply. Continue Reading: HYPE surges to $62.50 as XRP stalls at $1.35 The post HYPE surges to $62.50 as XRP stalls at $1.35 appeared first on COINTURK NEWS .
23 May 2026, 05:00
Hyperliquid Is Becoming A Core Infrastructure Layer For Crypto Finance
Hyperliquid is increasingly evolving from a high-performance trading platform into a foundational layer of crypto’s financial infrastructure. What began as a decentralized perpetual futures exchange has expanded into a broader ecosystem that attracts traders, liquidity providers, builders, and capital at a growing scale. As activity across the platform increases, market participants view Hyperliquid as a core venue for a significant portion of on-chain financial activity. How Hyperliquid’s Evolution Extends Beyond A Trading Platform Hyperliquid is steadily evolving beyond a trading platform and into a full-scale financial supercenter of the crypto economy. According to the Delphi Digital post on X, the protocol is increasingly consolidating functions that traditional finance (Tradfi) typically separates among brokers, exchanges, and custodians into a single on-chain venue. Related Reading: Hyperliquid (HYPE) Could See Prices Reach $190 In Optimistic Market Capture Scenario At the core of this evolution is HIP-4, a feature that introduces outcome-based trading, allowing users to express views that perpetual futures cannot capture. A trader going long on Bitcoin in the Consumer Price Index (CPI) can be right about the number and still lose on the price reaction, and binary pay on the outcome. The direct fees generated by HIP-4 represent only a small share compared to the trade flow already accumulated in Hyperliquid. At the expected volumes, HIP-4 contributes roughly $25 million against Hyperliquid’s $636 million run rate. Delphi Digital argues that the capital that would typically rotate out for event views to other platforms now remains in Hyperliquid, reinforcing its liquidity. Circle’s USDC sitting in the venue is currently generating treasury yield, with 90% of it recycled back into HYPE buybacks. Additionally, HIP-4 has also changed what vaults can run, and on-chain vaults have been limited to two linear instruments that can be expressed. However, outcome contracts introduce a powerful third instrument that pays directly on the event outcomes while netting against traditional directional position. With this added flexibility, vault creators can now build more sophisticated, event-driven strategies that hedge, and every trade that remains in the venue powers the flywheel. New All-Time High Reinforces Hyperliquid’s Market Leadership Hyperliquid is being viewed as a leading indicator for broader altcoin momentum. The CIO and founder of MNFund and MNCapital_vc, Michaël van de Poppe, noted that HYPE has repeatedly demonstrated an ability to move ahead of the rest of the market, often acting as an early signal that risk appetite is returning to digital assets. Related Reading: Hyperliquid Flips Solana By FDV As ‘Revenue Chains’ Race Heats Up In previous market cycles, strong momentum in HYPE has frequently been followed by broader strength across altcoins, making the asset a key indicator that many traders now monitor closely. However, with HYPE recently pushing toward a new all-time high in one of the strongest moves seen in the market for a long time, it shows there is an appetite for altcoins. Featured image from Medium, chart from Tradingview.com
23 May 2026, 05:00
Harvard dumps entire ETH ETF holdings in Q1 – What’s next for the altcoin?
Can ETH stay above $2K amid weak market sentiment?
23 May 2026, 04:30
NYSE Owner ICE Partners With OKX to Launch Perpetual Oil Futures
Intercontinental Exchange and crypto platform OKX are preparing to launch perpetual oil futures tied to Brent and WTI benchmarks. The partnership marks another step in the growing convergence between traditional commodity markets and crypto-native trading infrastructure. OKX Pushes Perpetual Oil Contracts as ICE Expands Into Crypto Infrastructure Intercontinental Exchange, the owner of the New York
