Bitcoin fell below $76,000 after a sharp selloff, sliding from nearly $78,000 to $75,500 and marking its lowest level since April 30. Major altcoins also declined as ETH moved toward $2,050, XRP slipped under $1.35, and SOL dropped below $85. Total liquidations reached $485 million, including more than $430 million in long positions.

On May 22, 2026, on-chain investigator ZachXBT said a Polymarket admin address on Polygon appeared to be compromised, initially estimating losses at about $520,000. Later updates suggested the stolen amount may have surpassed $600,000, with the attacker splitting funds across 15 addresses. Polymarket’s Shantikiran Chanal said the team is investigating while claiming user funds and market resolutions remain safe.

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.

XRP has traded in a narrow range for months, with Bollinger Bands on the 3-day chart compressing to their tightest level in over a year. Analysts say a 3-day close above $1.50 could point toward $1.80, while a break below $1.29 may shift focus to the $1.00 support area.

Bitcoin extended its drop after failing to hold $82,000 on Thursday evening, falling to $76,650 on Bitstamp and erasing more than $5,000 from the peak. The selloff triggered over $660 million in liquidations over 24 hours, with more than $610 million occurring within roughly 1–2 hours as BTC slipped below $76,700.

Merlijn The Trader argued on May 17, 2026 that Bitcoin could revisit $33,000 if its midterm-election-year drawdown pattern repeats. He pointed to prior declines of 61% (2014), 65% (2018), and 66% (2022), while offering a less-bearish alternative range of $45,000–$59,000 that hinges on whether BTC holds $78,000 support.

US spot Bitcoin ETFs posted a sharp reversal, recording about $1 billion in net outflows over the past five trading days after a prior week saw over $620 million in inflows. Spot Ethereum ETFs also stayed negative all week, totaling just over $255 million in net withdrawals, while ETH slipped from a $2,400 rejection to below $2,200. Over the same period, ETFs tracking SOL and XRP finished the week without any red days.

Spot XRP ETFs extended their early-month streak last week, logging $60.50 million in net inflows and pushing May’s total to nearly $95 million, above April’s $81.59 million. Despite the demand, XRP’s mid-week breakout attempt faded after a move to $1.55 on Thursday, before slipping to just under $1.40 and later trading around $1.42.

Bitcoin fell to $60,000 in an early-February crash, then rebounded to nearly $83,000 about a week ago before sliding to a two-week low of $78,000. Several analysts argue recent conditions still resemble late-cycle risk, citing elevated realized profit margins, ongoing bearish positioning from Doctor Profit, and the need to invalidate historical cycle patterns if $60,000 holds as a definitive bottom.