Your day-ahead look for May 22, 2026
By Omkar Godbole, Olivier Acuna|Edited by Jamie Crawley May 22, 2026, 11:31 a.m. 3 min readMake preferred on (Vilius Kukanauskas/Pixabay)What to know:
This is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't already.
Daybook will not be published on Monday, May 25 due to the Memorial Day holiday. We will be back on Tuesday, May 26.
The prevailing dynamics in the financial markets are characterized by a focus on macro-geopolitical issues, relegating cryptocurrencies to a secondary role.
Recent signs confirm this trend. Despite favorable regulatory news stemming from the Clarity Act, bitcoin BTC$76,870.72 has failed to generate excitement, trading around $77,200, showing little change over the last day or week.
In contrast, oil prices remain high, hovering near $100, and speculative investments are flooding into copper due to concerns about a sulfur shortage. This is significant as copper production relies heavily on sulfuric acid, whose supply has been affected by disruptions in the Strait of Hormuz.
Essentially, the situation around Hormuz is influencing commodity prices and flows, which in turn raises inflation concerns and increases bond yields, negatively impacting the cryptocurrency market. Meanwhile, U.S. stock markets are nearing record highs, buoyed by optimism surrounding AI advancements.
Bitcoin appears to be sidelined in this geopolitical and AI-driven market environment.
Consequently, U.S. spot bitcoin ETFs are experiencing significant outflows, totaling $1.15 billion this week following $1 billion in the previous week, based on data from SoSoValue. Additionally, the Coinbase premium, a crucial indicator of U.S. demand compared to global markets, has reached its lowest point in a month.
Experts have consistently pointed out that these metrics must show substantial improvement before a sustainable price increase can occur. The ongoing question remains whether such a shift can happen while the focus remains on geopolitical and AI developments.
Meanwhile, certain segments of the crypto market, particularly on-chain perpetuals and quantum-resistant tokens, are demonstrating resilience, spurred by specific news and trends, as discussed Thursday. The token for the Layer-1 blockchain Near Protocol (NEAR) has recently surged over 25% in the last 24 hours, following an announcement regarding a significant upgrade aimed at enhancing automated scaling and quantum resilience.
In traditional markets, Nasdaq futures have given up early gains and are trading mostly flat, although analysts remain generally optimistic about stocks following the recent earnings reports. Stay vigilant.
Read more: For insights on today's altcoin and derivatives activity, see Crypto Markets Today. For an extensive schedule of events this week, check out CoinDesk's "Crypto Week Ahead."
What’s trending
- ZachXBT flags $520K Polymarket exploit on Polygon, team says funds are safe (CoinDesk): Polymarket is addressing reports concerning its rewards payout system and has reassured that user funds and market resolutions are secure, clarifying that the issue is internal rather than a broader contract exploit. Further updates are anticipated.
- Near Protocol to automate its own growth and its token is skyrocketing (CoinDesk): Near's upcoming upgrade will enable the network to scale automatically without human input. The market's response has been positive, propelling NEAR up 27% in the last 24 hours to $2.25.
- Asian shares track Wall Street gains and oil prices climb on uncertainty over the Iran war (AP): Asian markets rose Friday following modest gains on Wall Street, while oil prices increased amid limited progress in resolving the Iran conflict. U.S. oil prices eased Thursday, alleviating some pressure from the bond market as yields declined.
- Treasury yields fall as investors digest week of bond market volatility (CNBC): U.S. Treasury yields decreased on Friday following a week marked by volatility that saw borrowing costs rise to multi-year highs due to renewed inflation concerns. The yield on the 10-year Treasury note dropped by over 2 basis points to 4.564%.
Today’s signal
HYPE's RSI is indicating overbought conditions. (TradingView)The 14-day Relative Strength Index (RSI) for HYPE has risen above 70. While this level is typically interpreted as “overbought,” this view can often be misleading.
The RSI serves as a momentum oscillator that gauges the speed and extent of recent price fluctuations. A reading exceeding 70 indicates robust bullish momentum and suggests that the uptrend may still have potential for further growth. It does not necessarily imply that the asset is overpriced or on the verge of a reversal, as is commonly believed.
In strongly trending markets, RSI readings can remain high for prolonged periods without triggering a significant pullback.
Crypto Daybook AmericasMore For You
It's not all HYPE: Privacy and quantum-resistant coins advance as bitcoin coasts
By Omkar Godbole|Edited by Sheldon RebackMay 21, 2026Your day-ahead look for May 21, 2026
What to know:
- Tokens related to perpetual-futures derivatives platforms, led by Hyperliquid’s HYPE, have surged on increased on-chain trading volumes and strong fee revenue.
- Privacy- and quantum-resistant coins are gaining traction as investors prioritize clear use cases amid rising worries about surveillance, AI, and future quantum threats to blockchain security.
- Major cryptocurrencies like bitcoin, ether,...