Bitcoin (BTC) is hovering around $108,000 after reaching an all-time high near $110,000 earlier this week. However, recent tariff threats from President Trump have introduced market volatility, leading to profit-taking and a $500 million loss for crypto bulls.
Ethereum (ETH) and Solana (SOL) are among the top trending cryptocurrencies today, with Ethereum experiencing a 2.0% change and Solana a 2.5% change in the past 24 hours.
Hyperliquid (HYPE) continues to gain attention, with a 2.6% change in the last 24 hours, reflecting a 29.2% increase over the past week.
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š„ Top Headlines
Market Turbulence: The crypto market shed over $100 billion following President Trump's latest tariff threats, causing significant price drops across major cryptocurrencies.
Coinbase Cyberattack: Coinbase reported a cyberattack that breached account data of a "small subset" of its customers, forecasting a potential hit of $180 million to $400 million.
Cetus Protocol Exploit: A vulnerability in Cetus Protocol was exploited, resulting in a $230 million loss. The attack exploited an overflow vulnerability in the protocol's code.
Massive PI Token Exodus from OKX Sparks Bullish Wave and Controversy
On May 21st, over 86 million PI tokens were rapidly withdrawn from the OKX exchange within hours, sending shockwaves through the Pi Network community. The large-scale outflow has been widely interpreted as a bullish signal, with many speculating that the reduced exchange supply could drive prices upward due to heightened scarcity.
Yet, the optimism is not without its shadows. A growing number of community members are raising concerns about the Core Team's potential involvement in the market activity. Rumors suggest that up to 50 million PI tokens may have been sold by the team following their appearance at Consensus 2025, sparking debate around transparency and the projectās tokenomics.
Despite the controversy, the market has responded positively. As of now, PI is trading at $0.8268, marking an 11.4% increase over the past 24 hours, and reinforcing a strong bullish sentiment among investors.
As of May 21, 2025, Bitcoin is trading around $106,243, up 0.85% for the day and nearing its all-time high of $109,114. A surge in institutional demandāespecially $329M in ETF inflowsāhas driven a 35% rise in trading volume. Market sentiment is bullish, with most analysts expecting a new high by monthās end. Key developments include pro-Bitcoin legislation in Texas and growing adoption globally, including record highs in Argentina.
History made! For the first time ever, 1 BTC is now equal in value to 1 kilogram of gold ā a massive milestone that reflects the growing strength and adoption of the crypto market.
From digital code to digital gold, Bitcoin has come a long way.
Is this the new era of value storage? Letās talk ā what does this mean for the future of money?