Bitcoin price news: BTC holds for fourth straight day near $77,000
liveUpdated 47 minutes ago
Hyperliquid’s HYPE is the outlier in crypto, rising 16.5% over the past 24 hours to a new record high.
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There’s at least one corner of crypto markets that’s not dullsville, and that’s HYPE.
The native token of Hyperliquid hit a record high of $59.30 on Thursday, with derivatives data pointing towards a potential short squeeze.
Most of the market has been positioned against the move. The long/short ratio sits at just 0.89, with more accounts shorting the token for the first time since January. Funding rates have also flipped negative, confirming the crowd has been fading the rally.
But that strategy hasn’t worked out; $33.5 million in short positions have been liquidated in the past 24 hours, compared to $2 million in long positions.
The move comes on the back of strong fundamentals; the protocol has generated over $896 million in revenue over the past 12 months, with 97% of trading fees funneled back into HYPE token buybacks.
The rally is also backed by institutional momentum, with 21Shares and Bitwise rolling out U.S.-listed Hyperliquid ETFs on Nasdaq on May 12, drawing over $5 million in early inflows. Coinbase and Circle have also committed to stake HYPE to activate a new protocol upgrade, AQAv2.
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As U.S. markets open on Thursday morning, the talk is about pretty much everything other than crypto.
Tech bellwether Nvidia (NVDA) last night reported an earnings beat and strong guidance, and shares are modestly higher in early trading.
Perhaps overshadowing mighty Nvidia, Elon Musk’s SpaceX (SPCX) filed for its IPO, which is expected to raise upwards of $80 billion at a valuation of $1.5 trillion or more.
Alongside SpaceX, Sam Altman’s OpenAI is expected to file for its own public offering, perhaps as soon as this week. Another AI giant, Anthropic, may also soon be joining the IPO move.
The action is surely drawing attention — and capital — away from crypto, where the price action remains mostly muted, with bitcoin (BTC) trading in a tight range around $77,000 for the last 72 hours.
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Majors are up 8.2% MTD and Binance is capturing 78% of CEX inflows. Stablecoin deposits are building dry powder while BTC outflows point to accumulation. This regime is currently trader-led.
May 14, 2026
Majors are up 8.2% MTD and Binance is capturing 78% of CEX inflows. Stablecoin deposits are building dry powder while BTC outflows point to accumulation. This regime is currently trader-led.
Why it matters:
Majors are up 8.2% MTD and Binance is capturing 78% of CEX inflows. Stablecoin deposits are building dry powder while BTC outflows point to accumulation. This regime is currently trader-led.