Grayscale Investments submitted Amendment No. 2 to its Form S-1 with the U.S. SEC on May 11, 2026, moving forward with a proposed ETF tied to Hyperliquid's HYPE token. The filing adds staking-related language that could allow the fund to earn from staking HYPE if regulators approve the setup, and it outlines an ETF design meant to provide direct HYPE exposure without self-custody.

With the U.S. April CPI report due in two days, traders are weighing whether Bitcoin’s rebound can hold or if shifting Fed-rate expectations will trigger fresh volatility. BTC has reclaimed its 50-day and 100-day moving averages and is trying to clear the $82,000 area, while the market is seen as more reactive after February’s capitulation into the mid-$60,000 range.

Hyperliquid (HYPE) failed to extend its advance toward $50 after rallying from the mid-$20s into the low-$40s, with selling pressure building around $44-$46. Bitcoin is again testing the $80,000 area, but the move lacks strong volume and is pressing into the 200 EMA zone. Toncoin (TON), after a steep multi-week rebound, is nearing long-term resistance around the 200-day EMA, with traders watching $2.30-$2.40 for signs the pullback is deepening.

On May 9, price charts for SHIB, XRP, TON, BTC and ETH showed several failed breakout attempts and fading momentum across major crypto assets. Bitcoin stalled near the declining 200-day moving average around $82,000, while XRP hovered near $1.38 support and SHIB remained below key moving averages. Toncoin stood out with a sharp surge backed by strong volume, though the move pushed RSI into overheated territory and raised pullback risk.

Cardano (ADA) saw trading volume rise 77.8% over the last 24 hours while its price stayed in a narrow $0.25–$0.26 band. Despite the activity spike, ADA remains below the 50, 100 and 200 EMA, and derivatives data shows mixed positioning, with long/short ratios above 1 across major exchanges but uneven liquidation patterns.

XRP’s spot price has fallen about 40% even as XRP-linked ETF products have recorded more than $1.21 billion in cumulative inflows, including roughly $64,000 in recent daily inflows. The token is trading near the $1.30 area and remains technically weak, while the article argues the highlighted $41 million in flows may be too small versus market liquidity to shift the downtrend.

A long-term logarithmic regression framework suggests Bitcoin could eventually approach the model’s upper band near $300,000 to $400,000, but it frames those levels as extreme overextension rather than a forecast. The article says BTC is still trading in the mid-$60,000 range within a broader downtrend, with momentum weak and a macro reversal not yet confirmed. It adds that reclaiming $70,000–$80,000 resistance, improved macro liquidity, and renewed large-scale institutional inflows would be needed before such long-horizon scenarios become plausible.

Midnight (NIGHT) has cooled into the $0.04-$0.05 zone after a launch rally toward $0.10-$0.11 and is now pressing its first major resistance band at $0.053-$0.055. Shiba Inu (SHIB) is forming a tightening range that could enable a roughly 16% squeeze toward $0.0000068-$0.0000070 if it breaks above nearby resistance. Ethereum (ETH) is nearing a "mini-death cross" in short-term averages, with a potential retest of $1,800-$1,900 if rising support fails.

CryptoQuant's realized price model points to the $54,000 area as a level where Bitcoin becomes statistically cheap versus the market's average on-chain cost basis. BTC is trading in the mid-$60,000 range and remains roughly $10,000 above that baseline, suggesting capitulation may still be early. The analysis argues accumulation typically strengthens once price compresses into or below realized price for long enough to flush remaining optimism.