Perhaps the most anticipated financial event of the year is only hours away: the US Federal Reserve will have a new chairman after more than eight years under Jerome Powell.
Before we examine the seventeenth chair of the Federal Reserve, let’s rewind a week and recap the last seven days through the lens of Bitcoin and several major altcoins. The primary cryptocurrency surged past $82,000 late last week after the CLARITY Act made progress in the US Senate, but momentum faded and Bitcoin had lost the $80,000 level by Friday evening.
On Saturday it dipped below $78,000 and stabilized near that mark on Sunday. Early in the new business week the market saw additional declines, driving Bitcoin down to around $76,000 — its lowest level since early May.
That represented a drop of more than $6,000 over four to five days. Bitcoin recovered somewhat, touching $78,000 on Thursday, but bearish market structure and sentiment remained dominant. BTC was capped there and now struggles to hold above $77,000.
A significant market shift is expected soon as the financial world braces for the Fed leadership change. As reported, the Kevin Warsh era begins today. Analysts from XWIN Research Japan highlighted certain risks and on-chain signals that could play a larger role in short-term Bitcoin price moves than the mere arrival of a new Fed chair.
As a result, Bitcoin finished the week in the red, along with most large-cap altcoins. One notable exception was HYPE, which stole the spotlight with an astonishing 43% weekly gain and a new all-time high above $62. ZEC, NEAR, ONDO, and VVV also delivered double-digit weekly gains.
Market Data
Market Cap: $2.666T | 24H Vol: $76B | BTC Dominance: 58%
BTC: $77,100 (-2%) | ETH: $2,125 (-3.8%) | XRP: $1.36 (-4.8%)
This Week’s Crypto Headlines You Can’t Miss
Bitcoin Pizza Day 2026: Commemorating Crypto’s First Real-World Transaction. May 22 once again marks International Bitcoin Pizza Day. Sixteen years ago, Floridian programmer and early Bitcoin adopter Laszlo Hanyecz ordered two pizzas and paid with 10,000 BTC. That early transaction is widely remembered as one of Bitcoin’s first real-world uses.
Bitcoin’s Biggest Holders Are Accumulating Again: What Are Whales Preparing For? Wallets holding at least 100 BTC continue to accumulate. Santiment Intelligence reports this cohort has grown to 20,229 wallets, an 11.2% increase from the 18,191 wallets recorded a year earlier.
XRP Futures on CME One Year Later: $63B in Trading Volume and Counting. This week marked the first anniversary of XRP futures trading on the Chicago Mercantile Exchange. The exchange highlighted notable trading volumes and a strong level of contract activity since launch.
Trump-Linked Truth Social Suddenly Pulls Crypto ETF; Analyst Questions the Reasoning. The media company associated with the First Family withdrew from the crypto ETF race, citing a filing under the Securities Act of 1933 rather than the Investment Company Act of 1940. Analysts remain skeptical that this was the sole reason for the exit.
Saylor’s Strategy Reloads With a New Multi-Billion-Dollar Bitcoin Purchase. After several smaller purchases, the firm founded by Michael Saylor announced a large acquisition: more than $2 billion to buy 24,869 BTC, increasing its holdings to approximately 843,738 BTC.
Iran Reportedly Launches Bitcoin-Based Shipping Insurance for Hormuz Passage. Reports indicated that Iran introduced a Bitcoin-based shipping insurance product for vessels transiting the Strait of Hormuz. This initiative differs from earlier reports that suggested ships would be asked to pay up to $2 million in BTC for passage.
Charts
This week’s technical overview includes chart analysis for Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid — click through for the full price analysis and detailed charts.