XRP is staying above $1.45 ahead of Thursday's Senate Banking Committee vote on the CLARITY Act, a development with potential implications for its U.S. regulatory outlook. A Binance order-flow study highlights a 30-day price-to-CVD correlation near 0.58, but notes the signal has started to cool as CVD turns negative. With XRP hovering around $1.46, traders are watching whether flow metrics recover or whether weakening demand begins to show up in price.

Altcoins are showing renewed strength ahead of a pivotal week that includes the CLARITY Act markup vote and broad price tests at key resistance levels. Data cited by analyst Darkfost indicates that about 21% of Binance-listed altcoins have moved back above the 200-day moving average, up from 2% during February’s low. The market remains challenging, but the shift suggests early rotation into altcoins could be developing.

21Shares US said the 21Shares Hyperliquid ETF, trading as THYP, will begin trading on May 12, 2026, offering brokerage-account exposure to Hyperliquid's HYPE token. The prospectus describes a Nasdaq-listed grantor trust that holds HYPE directly, charges a 0.30% annual sponsor fee, and plans to stake part of its HYPE via Figment with the intent to pay quarterly cash dividends from staking rewards.

Altcoin participation is showing signs of strengthening as trading activity broadens beyond Bitcoin and other mega-caps. An analysis points to a CEX Volume Ratio signal that triggers when the 30-day average altcoin volume (excluding BTC, ETH, SOL, XRP, and BNB) moves above the 365-day average. The broader market cap excluding the top 10 is described as stabilizing near $200 billion, with $160–$180 billion flagged as a key defended zone.

Ethereum remains capped below $2,450 after trading in a $2,250–$2,450 range for close to a month following a 33% rebound from February lows. During that rally, open interest rose by about $4.5 billion while funding rates stayed mostly negative, suggesting many derivatives traders kept bearish exposure. Analyst Darkfost says Binance's estimated leverage ratio falling from 0.76 to 0.57 may reduce fragility, but a breakout likely requires stronger spot demand.

Ethereum has fallen under $2,300 after a cautious rebound, while derivatives positioning on Binance has turned more aggressively bearish. Binance cumulative net taker volume dropped to about -$585 million versus roughly -$340 million on March 27, alongside open interest rising from about $2.46 billion to $2.9 billion in the first week of May. ETH is trading near $2,280, consolidating under the $2,300–$2,400 zone as the market weighs short pressure against steady spot demand signals.

Bitcoin briefly dipped below $80,000 as selling pressure and derivatives unwinds intensified, while Ethereum fell under $2,300. The move followed a surge in profit-taking—14,600 BTC realized gains on May 4—alongside about $331 million in liquidations over the past 24 hours, with nearly $100 million in a two-hour span. Price later hovered near $80,200 as traders watched the $80,000–$82,000 resistance area.

Ethereum is attempting to stay above $2,150 as on-chain trackers highlighted a large move in the past hour. A newly created wallet withdrew about $82 million worth of ETH from institutional prime brokerage FalconX, drawing attention to who may be behind the transfer. Analysts cited by the report said the wallet's behavior resembles Bitmine's past acquisition patterns, though attribution is not confirmed.

Ethereum has moved back above $2,100, but Binance market depth appears thinner than earlier in the cycle. CryptoQuant data shows Binance's exchange liquidity ratio near 5.01 and 30-day cumulative turnover around 16.65 million ETH, while reserves sit close to 3.32 million ETH. With participation muted, the same price level may react more sharply if large orders return to the market.