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21 May 2026, 07:47

HYPE Surges Above $57 as Short Squeeze Pushes it 2% Away From ATH

Hyperliquid’s HYPE token climbed above $57 on Thursday, just eight months after its last visit to those levels, as a wave of short liquidations and ETF-driven buying pushed the token within 2% of its all-time high near $59 reached in September 2025. The rally has turned HYPE into one of the market’s strongest large-cap performers this year, while traders pile into leveraged bets tied to the fast-growing perpetual futures platform. How the Short Squeeze Played Out According to on-chain analytics firm Santiment, on May 18 and 19, funding rate data across exchanges registered a sharp spike into negative territory, a sign that large numbers of traders were opening short positions and betting on a pullback. Instead, the price kept climbing, and as it rose, those bearish traders were forced to automatically buy back their positions to avoid liquidation, which added more upward pressure rather than removing it. The liquidation data from CoinGlass makes the damage to shorts clear. It shows that over the past 12 hours alone, roughly $21 million in HYPE futures positions were wiped out, with shorts accounting for all but $677,000 of that figure. In 24 hours, short liquidations reached $30.6 million against $1.08 million on the long side, showing just how hard the shorts got squeezed. What makes the situation more unusual is that open interest didn’t collapse during the liquidations, as it often does. According to Santiment, HYPE’s open interest was above $1.92 billion, but data from CoinGlass shows it is now sitting closer to $2.5 billion. This is because new traders kept stepping in to replace those who were being flushed out, and that only happens with assets that people genuinely want exposure to. At the time of writing, HYPE was up nearly 17% in 24 hours and more than 46% over the past seven days. Across one year, it’s up over 111%, outrunning heavyweights like Bitcoin, Ethereum, Solana, XRP, BNB, and DOGE by a significant margin. Why Is HYPE Up? The asset’s rally has coincided with rising institutional attention around Hyperliquid, with Santiment pointing to new HYPE-linked ETFs launched in May by Bitwise and 21Shares as one of the main catalysts behind the move. Bitwise’s Matt Hougan also recently gushed over Hyperliquid, calling it “one of the fastest-growing financial businesses” he had seen and arguing that investors were still underpricing both the platform and its token. Meanwhile, his colleague, Hunter Horsley, posted on May 21 that the network, as well as Solana, is forming a new category he called “revenue chains,” noting that it has generated $790 million in total blockchain revenue, ahead of Solana’s $532 million, with Tron and Ethereum following at $471 million and $425 million, respectively. Recall that before this latest leg up, HYPE had already gained around 24% from its May 13 low near $38, partly on the back of the CLARITY Act passing on May 14 and the debut of synthetic SpaceX perpetual contracts on the Hyperliquid-linked platform Trade.xyz. The post HYPE Surges Above $57 as Short Squeeze Pushes it 2% Away From ATH appeared first on CryptoPotato .

21 May 2026, 07:40

EUR/GBP Steadies as Markets Await Flash PMI Readings from Eurozone and UK

BitcoinWorld EUR/GBP Steadies as Markets Await Flash PMI Readings from Eurozone and UK The euro traded in a narrow range against the British pound on Tuesday as currency markets adopted a cautious stance ahead of the release of flash purchasing managers’ index (PMI) data from both the eurozone and the United Kingdom. The EUR/GBP pair remained near recent levels, reflecting a wait-and-see approach among traders seeking clearer signals on the relative health of the two economies. Market Expectations for Flash PMI Data The flash PMI readings, scheduled for release later this week, are expected to offer the first comprehensive snapshot of business activity for the current month. Economists polled by major financial data providers anticipate a slight improvement in the eurozone composite PMI, driven primarily by a resilient services sector. However, manufacturing output in the bloc is forecast to remain in contraction territory, weighed down by weak demand from China and ongoing energy cost pressures. For the UK, the consensus points to a modest uptick in the services PMI, supported by consumer spending and a relatively stable labor market. Yet, the manufacturing component is also expected to show subdued activity, with exporters facing headwinds from a strong pound and sluggish global trade. The divergence between services and manufacturing performance in both regions has been a persistent theme in recent months. Central Bank Policy Divergence in Focus The PMI data carry particular weight this month as they will inform the next policy decisions by the European Central Bank and the Bank of England. The ECB has signaled a cautious approach to further rate cuts, with some Governing Council members advocating for a wait-and-see stance until wage and inflation data become clearer. A stronger-than-expected PMI reading could reduce the probability of an imminent rate reduction, providing support for the euro. In contrast, the Bank of England has maintained a more hawkish tone, emphasizing that inflation remains above its 2% target and that policy easing should proceed gradually. The market currently prices in a first rate cut from the BoE later this year, but a weak PMI print could accelerate those expectations, potentially weighing on the pound. What This Means for Traders For forex traders, the EUR/GBP pair is likely to remain sensitive to any surprises in the data. A scenario where the eurozone PMI beats expectations while the UK reading disappoints could push the pair higher, as the euro gains on relative economic strength. Conversely, a strong UK services number combined with a weak eurozone print would likely support the pound. Technical analysts note that the pair has been consolidating within a tight range for several sessions, suggesting that a breakout may occur once the data is released. Key support is seen near the 0.8550 level, while resistance is located around 0.8650. A sustained move above or below these thresholds could set the tone for the weeks ahead. Conclusion The cautious trading in EUR/GBP reflects a broader market uncertainty about the pace of economic recovery on both sides of the English Channel. The flash PMI data will provide critical input for central bank policy expectations and near-term currency direction. Traders should prepare for increased volatility around the release time and consider the implications for interest rate differentials and risk sentiment. FAQs Q1: What is flash PMI data and why does it matter for EUR/GBP? Flash PMI (Purchasing Managers’ Index) is an early estimate of business activity based on surveys of purchasing managers. It matters because it provides a timely indicator of economic health, influencing central bank policy expectations and currency movements. Q2: How might a stronger eurozone PMI affect the euro? A stronger-than-expected eurozone PMI could reduce the likelihood of an ECB rate cut, making the euro more attractive to yield-seeking investors and potentially pushing EUR/GBP higher. Q3: What level should traders watch in EUR/GBP this week? Traders should monitor the 0.8550 support level and the 0.8650 resistance level. A break above 0.8650 could signal further euro strength, while a drop below 0.8550 may indicate pound outperformance. This post EUR/GBP Steadies as Markets Await Flash PMI Readings from Eurozone and UK first appeared on BitcoinWorld .

21 May 2026, 07:30

Bitcoin Perpetual Futures: A Look at Current Long/Short Ratios Across Top Exchanges

BitcoinWorld Bitcoin Perpetual Futures: A Look at Current Long/Short Ratios Across Top Exchanges The 24-hour long/short ratio for Bitcoin perpetual futures on the world’s three largest crypto futures exchanges—Binance, OKX, and Bybit—reveals a market that is currently finely balanced. As of the latest data, the overall ratio stands at 50.08% long and 49.92% short, indicating a near-even split between traders expecting a price increase and those anticipating a decline. Exchange-Specific Breakdown A closer look at individual platforms shows slight variations in trader sentiment. On Binance, the largest exchange by open interest, the ratio is 50.74% long versus 49.26% short, reflecting a modest bullish tilt. OKX shows a similar but slightly more pronounced lean, with 51.19% of positions long and 48.81% short. Bybit, however, presents a contrasting picture. The exchange reports a 49.38% long ratio against 50.62% short, making it the only platform among the three where bearish positions currently outnumber bullish ones. This divergence highlights how trader sentiment can vary depending on the exchange’s user base and trading culture. What This Data Tells Traders Long/short ratios are a widely watched metric in the crypto derivatives market. They represent the proportion of open positions betting on a price rise (long) versus a price fall (short) for perpetual futures contracts. While these ratios can offer a snapshot of market sentiment, they are not a definitive predictor of price direction. A ratio near 50% suggests a lack of strong directional conviction among traders. In such conditions, markets can be more susceptible to sudden volatility as even a small shift in sentiment can trigger a cascade of liquidations. The current near-even split across the top exchanges suggests that traders are waiting for a clearer catalyst before committing to a directional bias. Why This Matters for Market Watchers For active traders and analysts, tracking these ratios across multiple exchanges provides a more complete picture than looking at any single platform alone. The divergence at Bybit, for instance, could indicate that a specific segment of traders—perhaps those using more aggressive leverage—holds a different view than the broader market. Understanding these nuances can help in assessing potential risk and positioning. Conclusion The current long/short data for Bitcoin perpetual futures points to a market in equilibrium, with no dominant directional bias. While Binance and OKX show a slight bullish edge, Bybit’s bearish tilt introduces a note of caution. Traders should monitor these ratios alongside other indicators, such as funding rates and open interest changes, to gauge the evolving sentiment. As always in crypto markets, conditions can shift rapidly, and this data should be viewed as one piece of a larger puzzle. FAQs Q1: What is a perpetual futures contract? A perpetual futures contract is a type of derivative that allows traders to speculate on the price of an asset, like Bitcoin, without an expiration date. Unlike traditional futures, perpetuals use a funding rate mechanism to keep the contract price close to the spot price. Q2: How is the long/short ratio calculated? The long/short ratio is calculated by dividing the number of open long positions by the total number of open positions (longs + shorts) on a given exchange. It is usually expressed as a percentage and updated in real-time or over a 24-hour period. Q3: Does a high long ratio mean the price will go up? Not necessarily. A high long ratio can indicate bullish sentiment, but it can also signal that the market is overcrowded and due for a correction. Conversely, a high short ratio can suggest bearishness but may also precede a short squeeze. The ratio is best used in conjunction with other market data. This post Bitcoin Perpetual Futures: A Look at Current Long/Short Ratios Across Top Exchanges first appeared on BitcoinWorld .

21 May 2026, 07:26

XRP price prediction: can ETF inflows trigger a breakout above $1.50?

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are trading in the green as the broader cryptocurrency market slightly recovers from the recent selloff. XRP is the worst performer among the top 10 cryptocurrencies by market cap, up less than 1% in the last 24 hours. However, the aggressive accumulation of XRP ETFs by institutional investors could push XRP’s price higher in the near term. The momentum indicators also suggest a growing bullish narrative. XRP stays above $1.37 amid growing ETF inflow XRP has defended the $1.32 support level over the past few days and could be preparing for a potential breakout above $1.40 in the near term. Despite XRP’s poor performance, institutional demand has increased over the past few days. CoinGlass data shows that XRP’s spot ETFs recorded an inflow of $1.5 million on Wednesday, marking the fifth consecutive day of positive flows since last week. The ETF inflows indicate institutional confidence in XRP, and this could push its price higher in the near term. The on-chain and derivatives data also show a mild bullish bias for XRP. According to CyptoQuant, XRP’s spot market is showing cooling conditions. The derivatives side supports a positive outlook. CoinGlass’s futures Open Interest (OI) now stands at $2.9 billion, up by 1% in the last 24 hours. The long-to-short ratio reads 1.02, indicating a bullish sentiment as traders are betting on XRP’s price increase. Finally, the funding rate for XRP flipped positive on Monday and now reads 0.0027%. The positive rate indicates that longs are paying shorts and projecting a bullish sentiment. The positive performance of the broader crypto market comes after the US President Donald Trump announced on Wednesday that the ongoing negotiations with Iran are in their final stages. This latest development has raised hopes for a potential agreement between the two countries, improving the broader market sentiment and allowing XRP and Bitcoin to hold above key support levels. XRP price forecast: Bulls prepare for a breakout The XRP/USD 4-hour chart remains bearish as it is the worst performer among the top 10 cryptocurrencies by market cap. At press time, XRP is trading at $1.373, below the 50-day Exponential Moving Average (EMA) of $1.411. The momentum indicators are no longer in the oversold regions, indicating a fading bearish trend. The Relative Strength Index (RSI) is hovering around 44, and the Moving Average Convergence Divergence (MACD) line is holding below zero, suggesting that buyers are slowly regaining control of the market. If the buyers reclaim control, they would encounter initial resistance at the $1.411 level, with another major zone at $1.427. A daily candle break above these levels would allow the bulls to extend their rally towards the $1.48 resistance zone, with the $1.50 psychological level also a target. However, if the selloff resumes, the buyers will need to defend the initial support at $1.32 to enable XRP to bounce back faster. Losing this support level would expose XRP to lower floors below $1.30, making it harder for a recovery effort in the near term. The post XRP price prediction: can ETF inflows trigger a breakout above $1.50? appeared first on Invezz

21 May 2026, 07:25

Australian Dollar: Labor Data Could Undermine RBA-Driven Gains, Commerzbank Warns

BitcoinWorld Australian Dollar: Labor Data Could Undermine RBA-Driven Gains, Commerzbank Warns The Australian Dollar (AUD) has recently benefited from shifting market expectations surrounding the Reserve Bank of Australia’s (RBA) monetary policy trajectory. However, analysts at Commerzbank are cautioning that upcoming domestic labor market data could pose a significant risk to these gains, potentially reversing the currency’s upward momentum. RBA Policy Expectations and AUD Support Over the past weeks, the AUD has found support from a growing consensus that the RBA may hold interest rates higher for longer than previously anticipated. This view was reinforced by recent inflation figures that remained sticky, prompting markets to scale back expectations of early rate cuts. The resulting yield advantage has attracted capital inflows, buoying the Australian currency against major peers like the US Dollar and Euro. Commerzbank strategists note that this repricing has been the primary driver behind the AUD’s recent resilience, even as global risk sentiment has fluctuated. The currency has traded in a relatively tight range, with traders positioning for a more hawkish RBA stance. Labor Data as a Key Risk Factor The focus now shifts to Australia’s employment figures, scheduled for release later this week. Commerzbank warns that a softer-than-expected labor report could quickly undermine the RBA-hawkish narrative that has supported the AUD. Specifically, a rise in the unemployment rate or a sharp slowdown in job creation would signal that the economy is cooling more rapidly than the central bank anticipates. This could reignite speculation about rate cuts later this year, eroding the yield advantage that has attracted foreign capital. Conversely, a strong labor report would reinforce the current market positioning and provide further support for the AUD. “The labor market is the linchpin for the RBA’s policy path,” a Commerzbank analyst stated in a recent note. “If the data disappoints, the recent AUD gains could prove fragile, as the market would quickly price in a higher probability of rate cuts.” Implications for Forex Traders For forex traders, the upcoming labor data release represents a critical event risk. The AUD/USD pair, in particular, has been sensitive to shifts in interest rate differentials. A weak labor report could trigger a sell-off, pushing the pair below key support levels. On the other hand, a strong print could propel the AUD higher, testing recent resistance zones. Traders should also consider the broader context: global risk appetite, commodity prices (especially iron ore and coal), and the monetary policy stance of the Federal Reserve will all play a role in determining the AUD’s medium-term direction. However, the labor data is likely to be the immediate catalyst. Conclusion While the Australian Dollar has enjoyed a period of strength driven by RBA policy expectations, Commerzbank’s analysis highlights the fragility of this support. The upcoming labor market data will be a crucial test. A disappointing result could swiftly reverse recent gains, while a strong report would validate the current market narrative. Investors should prepare for increased volatility around the release and adjust their positions accordingly. FAQs Q1: Why has the Australian Dollar been gaining strength recently? The AUD has gained support from market expectations that the Reserve Bank of Australia will keep interest rates higher for longer, driven by sticky inflation. This has made Australian assets more attractive to foreign investors, boosting the currency. Q2: How could labor data affect the AUD? Strong labor data (low unemployment, high job creation) would reinforce the hawkish RBA narrative, potentially pushing the AUD higher. Weak data could reignite rate cut expectations, leading to a decline in the currency. Q3: What is Commerzbank’s specific warning? Commerzbank warns that the recent AUD gains are heavily reliant on RBA policy expectations. If labor data disappoints, these gains could be quickly reversed as the market reprices the likelihood of future rate cuts. This post Australian Dollar: Labor Data Could Undermine RBA-Driven Gains, Commerzbank Warns first appeared on BitcoinWorld .

21 May 2026, 07:05

Coinbase Bitcoin Premium Index Stays Negative for Sixth Straight Day, Signaling U.S. Selling Pressure

BitcoinWorld Coinbase Bitcoin Premium Index Stays Negative for Sixth Straight Day, Signaling U.S. Selling Pressure The Coinbase BTC Premium Index has remained negative for six consecutive trading days, currently standing at -0.0919%, according to data from BlockBeats. This persistent negative reading marks one of the longest stretches of below-zero premiums in recent months, signaling sustained selling pressure on the U.S.-based exchange relative to global markets. What the Negative Premium Indicates The Coinbase BTC Premium Index measures the price difference between Bitcoin traded on Coinbase and the global average across other major exchanges. A negative premium means that Bitcoin is trading at a lower price on Coinbase compared to the broader market. Historically, this pattern has been interpreted as a sign of increased selling activity from U.S.-based investors, often preceding short-term price corrections or periods of market weakness. This six-day streak suggests that U.S. traders have been more aggressive sellers than their international counterparts. While the premium has occasionally turned negative for shorter durations, the sustained nature of the current reading has drawn attention from market analysts monitoring institutional flow patterns. Broader Market Context The extended negative premium comes at a time when Bitcoin has been trading in a relatively narrow range, struggling to break above key resistance levels. Some analysts point to regulatory uncertainty and macroeconomic headwinds, including persistent inflation concerns and shifting Federal Reserve policy expectations, as factors weighing on U.S. investor sentiment. It is worth noting that the Coinbase Premium Index is not a definitive predictor of price direction. However, it provides useful insight into regional demand dynamics. A sustained negative reading often correlates with reduced institutional buying interest from U.S. clients, who represent a significant portion of Coinbase’s trading volume. What This Means for Traders For active traders, the persistent negative premium serves as a cautionary signal. It suggests that U.S. market participants are currently less willing to pay a premium for Bitcoin, potentially reflecting risk-off positioning. Some traders use this data to gauge whether selling pressure is likely to intensify or if the divergence between U.S. and global prices will correct. However, the index is just one of many metrics used to assess market health. Broader factors such as on-chain activity, futures market positioning, and global regulatory developments should also be considered when evaluating Bitcoin’s near-term outlook. Conclusion The Coinbase BTC Premium Index’s six-day negative streak offers a clear signal of elevated selling pressure in the U.S. market. While not necessarily a harbinger of a major downturn, it highlights a divergence in sentiment between American and international traders. Investors should monitor whether the premium recovers in the coming days, which could indicate a shift in buying interest, or if the negative reading persists, potentially reinforcing bearish sentiment among U.S. market participants. FAQs Q1: What does a negative Coinbase BTC premium mean? A negative premium means Bitcoin is trading at a lower price on Coinbase compared to the global average across other exchanges. It typically indicates selling pressure from U.S.-based traders. Q2: How long has the Coinbase BTC premium been negative this time? The index has remained negative for six consecutive days, with the latest reading at -0.0919%. Q3: Should I base my trading decisions solely on the Coinbase premium index? No. The premium index is a useful indicator of regional sentiment, but it should be used alongside other metrics such as trading volume, on-chain data, and broader market analysis for a more complete picture. This post Coinbase Bitcoin Premium Index Stays Negative for Sixth Straight Day, Signaling U.S. Selling Pressure first appeared on BitcoinWorld .