Lei06

【HYPE liquidations reached $33.91 million in the past 24 hours, with the largest single liquidation at $1.8 million】 In the past 24 hours, HYPE liquidations totaled $33.91 million, including $31.82 million from short liquidations and $2.08 million from long liquidations. The largest single liquidation was $1.8 million. The 7-day average liquidation amount remains at an extreme level. Today's Hyperliquid (HYPE) liquidations were mainly concentrated on Hyperliquid (45.11%), indicating that these exchanges host a large volume of active leveraged trading. $HYPE

【HYPE's largest short loracle.hl has an unrealized loss of $25.9 million】 According to on-chain analyst Yu Jin's monitoring, HYPE's largest short loracle.hl has an unrealized loss of $25.9 million: he shorted 1.82 million HYPE at a price of $45.1 (totaling $108 million), with the latest liquidation price at $68.8. HYPE's largest long position has an unrealized profit of $28.64 million: he went long on 1.38 million HYPE at a price of $38.6 last November (totaling $82 million) and has held the position for 7 months. $HYPE

[Report: Signs of Bitcoin Repeating 2022 Trading Patterns] On May 21, CryptoQuant stated in a report that Bitcoin's recent price movements resemble those from over four years ago. CryptoQuant noted that Bitcoin's recent rise to around $82,000 mirrors a previous rally—at the start of 2022, Bitcoin climbed from about $44,000 to surpass the then all-time high of $72,000 in March. Afterward, Bitcoin dropped to around $16,000 before gradually recovering and reaching a new all-time high near $125,000 in October last year. CryptoQuant believes a similar pattern might be unfolding now. "With stagnant stablecoin liquidity and negative price momentum simultaneously eroding composite signals, CryptoQuant's bullish score index has fallen from 40 down to 20, an extremely bearish zone," $BTC

[Analysis: BTC Long-Term Holders' Holdings Rise to About 1.63 Million BTC, Breaking Nearly Two and a Half Years of Downtrend] The holdings of Bitcoin long-term holders have been steadily increasing, currently rising to about 16.3 million BTC, approaching historical highs and significantly breaking the previous downtrend that lasted about 2.5 years. Bitcoin long-term holders typically refer to investors holding coins for more than 155 days. Their holdings have increased from about 14.12 million BTC since Bitcoin hit its all-time high of around $126,000 in October 2025 to the current level, with an increase of about 200,000 BTC in the past month alone. Historically, this metric only approached a higher level (about 16.4 million BTC) in January 2024, just before the launch of the US Bitcoin spot ETF. Following the market rally, long-term holders cumulatively reduced their holdings by about 2 million BTC over several months. Analysis indicates that during typical bear markets or price correction phases, long-term holders usually re-enter accumulation cycles. Current data shows this group has shifted from previous distribution to continuous accumulation, indicating that "smart money" is flowing back into the market during periods of Bitcoin price pressure. $BTC

[The 1011 whale that liquidated $230 million has re-deposited 9 million USDC to Hyperliquid] According to on-chain analyst Ai Yi's monitoring, the 1011 whale that liquidated $230 million has re-deposited 9 million USDC to Hyperliquid, with a total deposit of $19.01 million since yesterday: 1. Placing buy orders for HYPE: planning to buy $1.15 million worth of HYPE within the [$49.725 - $52.36] range (currently holding $2.48 million in spot). 2. Going long on BTC: currently holding 504.4 5x BTC long positions, valued at $38.95 million, with an unrealized loss of $85,000. $HYPE $BTC

【Important Developments on the Evening of May 21】 12:00-21:00 Keywords: SpaceX, Federal Reserve, Russia 1. Blockchain.com secretly files for a US IPO; 2. The US House of Representatives will vote on a resolution related to the Iran war; 3. Forecast website: SpaceX's valuation could exceed $2 trillion; 4. US 2-year Treasury yield rises 6.6 basis points to 4.106%; 5. The US will allocate $2 billion to 9 quantum computing companies, with the government obtaining equity stakes; 6. The Federal Reserve plans to implement restrictive “streamlined” payment accounts for fintech and crypto companies; 7. Former CFTC chairman to serve as senior advisor at Jefferies, previously held a crypto-friendly stance; 8. Russia’s cryptocurrency regulatory bill revision to be completed next week, stablecoins will be recognized as foreign exchange assets.

Is the peach content in the peach drink less than one-fifth of a drop of water? Tricks can't buy long-term repurchase. A drink called 'Master Kong Daily C Peach' features a pink packaging printed with plump and tempting peaches, with a prominent label below stating "Specially Selected Fenghua Peaches." But in reality, this 500ml bottle contains only about 0.01 grams of concentrated peach juice!

Freedom

[AllianceDAO Co-founder: ZEC's conservative target is to reach 3%-5% of BTC's market cap] On May 21, Alliance DAO co-founder Wang Qiao stated that ZEC's conservative target is to reach 3%-5% of BTC's market cap, as BTC holders will allocate part of their assets to ZEC as a hedging tool; a more aggressive target is to reach 15%-20% of BTC, which corresponds to the silver-to-gold exchange rate level. Wang Qiao also believes that if a catastrophic event occurs to BTC, such as massive sell-offs by Saylor or quantum attacks, ZEC has the opportunity to surpass BTC. ZEC has risen over 25% in the past month, with its market cap surpassing $10 billion. At the time of writing, ZEC's market cap is reported at $10.9 billion, while Bitcoin's market cap is about $1.54 trillion. If ZEC can realize this prediction, there is still 3-6 times upside potential. $ZEC $BTC

[AllianceDAO Co-founder: ZEC Could Become a BTC Hedge Asset, Aggressive Expectations May Reach 20% of BTC Market Cap] AllianceDAO co-founder Wang Qiao posted on platform X that Zcash is expected to become a hedge asset for some Bitcoin holders. A more conservative target is for ZEC's market cap to reach about 3% to 5% of Bitcoin's, meaning BTC holders would rebalance part of their positions into ZEC for risk hedging. More aggressive expectations suggest that ZEC's market cap could account for 15% to 20% of BTC's, similar to silver's market positioning relative to gold. Additionally, Wang Qiao's analysis proposes an extreme "flippening" scenario, where if Bitcoin faces a major systemic risk event—such as risks related to Michael Saylor or black swan factors like quantum computing threats—ZEC could significantly increase its market share. However, this scenario is described as a low-probability event. $ZEC $ZEC