Kevin Warsh is expected to be sworn in as the 17th Federal Reserve Chair at the White House on Friday, May 22, a shift XWIN Research Japan says could show up first in Bitcoin's on-chain indicators. The firm highlights the Coinbase Premium and exchange netflows as early gauges of U.S. institutional demand and potential risk-off positioning, with BTC last trading just above $77,000 after dipping near $76,000 and stalling around $78,000.

Trump Media & Technology Group moved 2,650 BTC to Crypto.com late on May 21, a tranche valued at roughly $205 million at the time. After buying 11,542 BTC for about $1.37 billion in mid-2025, the firm is now estimated to be sitting on around $480 million in unrealized losses with Bitcoin near $77,200. Its remaining BTC balance is estimated at about 6,889 BTC following the latest outflow.

Crypto sentiment has weakened as the Fear and Greed Index slid to 27, following prior readings of 45 a month ago, 30 last week, and 28 yesterday. Bitcoin is trading at $77,176, down 4.3% over the past seven days, while price action continues to pressure the $76,000–$77,000 support zone that has been tested repeatedly in recent weeks.

A wallet associated with Trump Media & Technology Group transferred 2,650 BTC to Crypto.com on May 22, a move valued at about $204.93 million. The address reportedly still holds 6,889 BTC worth roughly $532.78 million, while the company has not explained whether the deposit reflects a sale, custody shift, or liquidity arrangement.

Bitcoin’s open interest on Binance expanded by about 40% over the past 82 days, rising from $6.4 billion in early March to roughly $8.9 billion by May 22. The move pushed OI above its 180-day moving average, while funding rates turned positive, as BTC traded near $77,145 at press time. Finbold AI Agent projected BTC could fall 2.34% to $75,343 on May 29, even as a rebound above $80,000 was framed as possible if leverage-driven long demand persists.

More than a dozen bipartisan U.S. House members introduced the American Reserve Modernization Act of 2026 (ARMA) on May 21 to codify a federal Strategic Bitcoin Reserve. The proposal would require any BTC acquired for the reserve to be held for at least 20 years and would authorize the Treasury to buy up to 200,000 BTC per year for five years, aiming for 1 million BTC. It also includes audit-and-reporting requirements and a clause protecting lawful self-custody and transfers.

Lookonchain reported that Trump Media, which runs Truth Social and is majority owned by the Donald J. Trump Revocable Trust, deposited 2,650 BTC (about $205 million) to Crypto.com on May 22, 2026. The firm previously bought 11,542 BTC for $1.37 billion at an average cost of $118,522, while BTC was near $120,000, and its remaining stash was cited at roughly $455 million as BTC traded below $78,000.

About 20,500 Bitcoin options are due to expire on Friday, May 22, representing roughly $1.5 billion in notional value. The batch carries a 0.69 put/call ratio and a max-pain level near $79,000, while broader crypto market cap slipped to $2.67 trillion and BTC dipped to an intraday low of $76,750 after failing at $78,000.