Bitcoin traded at $73,621 on May 30, up 0.5% over 24 hours but still down 2.3% for the past seven days. Since slipping below $73,000 on May 28 and touching a recent low, the asset has been stuck in a narrow range between $72,514 and $74,213. Direction remains limited. Twenty-four-hour trading volume came in at $34.3 billion, more than 30% below the peak seen earlier in the month.
Ethereum was quoted at $2,017, up 0.9% on the day and down 2.2% over the week. After briefly falling below the $2,000 mark a day earlier, ETH moved back above that level, though it remains more than 15% below the mid-May high of $2,373. Open interest in ETH futures stayed at a record 16.39 million ETH, a sign that bearish positioning has not eased. The Crypto Fear and Greed Index fell from 26 to 23, marking a second straight day in the “extreme fear” zone.
ETF withdrawals continue while equities set fresh records
Spot Bitcoin ETF selling has not slowed. On May 28, net outflows reached $223.3 million. BlackRock’s IBIT accounted for $527.8 million in single-day outflows, just $460,000 short of the largest daily outflow on record set on January 30. According to the source material, total ETF outflows for May have now exceeded $2 billion, while net inflows for all of 2026 have narrowed from more than $2 billion at the start of the year to only $536 million.
Institutional positioning also shifted lower. Jane Street’s Q1 13F filing showed a 71% cut in IBIT holdings and a 60% reduction in FBTC. At the same time, U.S. equities kept climbing. On May 29, the Dow closed at 51,032, the S&P 500 at 7,580, and the Nasdaq at 26,972, with all three indexes ending at record highs and extending gains for a ninth straight week.
The 10-year U.S. Treasury yield eased to 4.44%, and lower oil prices helped risk appetite in traditional markets. Crypto did not share in that move. Bitcoin dominance rose to 57.45%, showing heavier pressure on altcoins.
HYPE breaks away from the broader market
While most of the crypto market stayed under pressure, Hyperliquid’s native token HYPE moved the other way. On May 29, it touched a new all-time high of $67.24 before closing at $65.30. The token gained 7.5% over 24 hours, 18.7% over seven days, and 62.4% over 30 days.
The report said HYPE’s market capitalization reached $14.5 billion, lifting it to the world’s 11th-largest cryptocurrency and ahead of Avalanche and Polkadot. The source also linked the move to market attention around ICE-related comments, talks involving Grayscale ETF seed capital, and trading activity connected to a SpaceX contract.
Support and resistance remain in focus
For Bitcoin, $73,000 remains the key support area under repeated pressure. If that level breaks again, the source points to $71,500 to $72,000 as the next range to watch. On the upside, $74,200 is the first resistance, followed by $76,000 if price can hold above it. For Ethereum, near-term support sits around $1,980, while resistance stands in the $2,040 to $2,100 band.
HYPE is set up differently. The source said the previous high near $60 has turned into support, with the next short-term resistance focused on the $70 psychological level.