Weekly Recap Research

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Hyperunit transfers $180 million ETH to Binance, crypto market rumbles repeatedly for sale

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Signs of concern in the crypto market are again on the rise after a major whale “Hyperunit” transferred over $180 million worth of ETH to the Binance trading board, raising the tide that it could be the start of a new wave of sales force, with a history of movements that have affected the direction of the market since the massive accumulation of Bitcoin in 2018 to the massive gains during the trade war. Between the U.S. and China, all of this whale's moves continue to get close investor attention.

Another key issue is the Hyperunit's port value, which has fallen from around $11 billion in August last year to around $2 billion today, reflecting the continued decline in asset holdings. The market sees that the recent ETH transfer may increase pressure on Ethereum prices in the short term, while Bitcoin may gain some support. Given the turnaround in investor liquidity, the next move by this whale remains a key factor that the market will keep a close eye on in the coming months.

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Bitcoin Slows Below $81,000, Investors Watch for Signs from Trump—Xi Talks

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Bitcoin moved below the $81,000 level amid a cautious investment climate ahead of the talks between Donald Trump and Xi Jinping, which the market sees could affect the direction of the global economy, trade and liquidity of risk assets in the next phase. Despite the price swinging in a narrow frame, the buying power from investors. Institutions remain in place as short-term investors begin to delay the opening of new positions to await clarity from macroeconomic factors.

Bitcoin has previously rallied to $82,000, but profit selling and geopolitical concerns are pushing prices lower again. Analysts see the market entering a “wait and see” phase after global risk assets begin to respond more to international political issues. However, the fact that Bitcoin can still stand above key psychological levels reflects the long-term sentiment of The market has not changed significantly.

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Top Net flows

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Between May 4—10, 2026, capital flows in the crypto ecosystem reflected the circulation of silver pellets to platforms with stronger fundamentals. Hyperliquid is the network with a maximum net inflow of around $280 million within a 7-day period, boosted by the launch of Prediction Markets on Mainnet on May 5, which had a day's trading surplus. The first broke 6 million contracts, coupled with a HYPE coin-burning mechanism that continuously reduced supply, as well as a cumulative acquisition of Whales that boosted Long Position to the highest of the year, resulting in a significant increase in network sentiment, while Ethereum continued to have cash inflows. The secondary net hit $170 million, reflecting buying momentum through ETFs and the downside of Bitcoin's recovery that rebounded above $80,000 early in the week. The Starknet and OP Mainnet segments, despite not very high inflows, remain in positive territory compared to other rival networks.

On the other hand, the networks facing net outflows have been pressured by clear individual factors, with Arbitrum having a peak outflow of around $280 million, consistent with the confidence pressure accumulated since the beginning of 2026, both from massive coin unlocks, the April Silver Bridge attack, and unresolved governance issues. Clarity has resulted in continued inflows to competitors in the Layer 2 cluster, while Polygon PoS and Base had net outflows of around $80 million and $50 million respectively. BNB Chain and Solana also faced eye-popping levels of outflows, the overview reflects. That the market is beginning to select networks more intensively, giving weight to protocols with real income and clear supply mechanisms, rather than holding assets in networks facing liquidity and market sentiment issues.

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Fear & Greed Index

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The Crypto Fear & Greed Index is one of the tools used to assess the outlook and sentiment of the crypto market, referring to scores ranging from 0 to 100 (0 stands for Extreme Fear or Extreme Fear and 100 stands for Extreme Greed).

The fear and greed index of the crypto market moves in the Neutral range, starting at 46 on May 3, before hitting a low of 41 on May 4, in line with the weakening Bitcoin price, testing the support near $78,000, and then rebounding to level 51 on May 5. The sector, with the price of Bitcoin rebounding above $80,000, however, continued to face the subsequent sell-off that the index weakened to level 37 during May 8—9, reflecting investor concerns that the price will be able to stand firmly above the $80,000 level before recovering back to the close. The week at 49 on May 10, amid a surge in trading volume over the weekend, the overall picture reflects that the market is still in a state of struggle between buying and selling forces, with neither side having a clear advantage yet.

The movement of the sentiment index this week reflected market conditions that were still fraught with uncertainty. Although Bitcoin was able to reach a new short-term high of $82,000 on May 7, the index was unable to move into the Greed zone, unlike the previous bullish cycle in which the index often moved above level 55 when the price of bitcoin moved closer. Taken together, the picture reflects that institutional and retail investors remain wary of acquisitions. Despite the buoyancy of ETF approvals and capital flows from Asia, concerns about U.S. fiscal policy, including the upcoming Fed meeting, have also prompted markets to choose to delay decisions. Let the index close the week in the Neutral zone at level 49, which reflects that the market is not yet ready for strong movement in one direction in the short term.

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Bitcoin ETF Flow

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The capital flow in the Bitcoin ETF reflects a fairly clear picture of volatility, with net inflows as of May 4 reaching $532.3 million, led by iShares IBIT with cumulative buybacks of $335.5 million and Fidelity FBTC at $184.6 million, consistent with the recovery in the price of bitcoin surging. $80,000 at the start of the week, however, buying momentum began to slow on May 5, to $467.3 million and shrank sharply on May 6, to just $46.2 million, on the back of $18.4 million in Grayscale GBTC selling, while ARK 21Shares ARKB stopped receiving inflows for the first day in The multi-day cycle reflects that the enthusiasm of institutional investors is beginning to weaken.

May 7 turned into a major turning point when cash flows turned into net outflows of $268.5 million, with iShares IBIT having outflows for the first time in weeks at $98.0 million and Fidelity FBTC flipping to $129.0 million in cash outflows, in line with the price of Bitcoin testing $82,000 ahead of a strong sell-off. The pressure continued on May 8, with net outflows of $145.7 million, led by iShares IBIT at $27.2 million and Fidelity FBTC at $97.6 million. This week's overview reflects that despite a lot of inflows early in the week, the late-week sell-off made. THE NET OVERALL WEAKENED, REFLECTING THE BEHAVIOR OF INSTITUTIONAL INVESTORS WHO ALSO FOCUSED ON SHORT-TERM TRADING BEATS RATHER THAN LONG-TERM HOLDINGS IN UNCLEAR MARKET CONDITIONS.

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Ethereum ETF Flow

The Ethereum ETF reflects volatility in a similar way to the Bitcoin ETF, but with more severe levels of contraction and exchange of cash flows. On May 4, there was a net inflow of around $61.3 million, led by the iShares ETHA at around $54.8 million and Fidelity FETH at around $6.5 million, down from the previous day with $101.2 million in inflows. As of May 5, cash flows rebounded to $97.5 million, with the iShares ETHA accumulating buying force of around $69.5 million and Fidelity FETH around $24.2 million, reflecting how investors continue to see opportunities in Ethereum even as other asset markets begin to see profitable selling. Still, that buying power dropped sharply on May 6, to just $11.5 million, with a slight outflow from Fidelity FETH of about $0.6 million, while Grayscale ETHE returned to $10 million inflows, a behavior that differs from the usual form of this fund that often has continued outflows.

May 7 was the weakest of the week, with net outflows of around $103.6 million, led by Fidelity FETH outflows of about $62.3 million and iShares ETHA at around $26.3 million, in line with a sell-off in the Ethereum market as the price faced pressure during Bitcoin's tests of the $82,000 line before weakening. Down on May 8, overall cash flow was very low, with only $3.6 million in net inflows from just one VanEck ETHV fund, while other funds had limited movement or were near zero. This week's overview reflects that the Ethereum ETF also faces restrictions on attracting funding. Long term, compared to Bitcoin ETFs that still have significantly higher liquidity and trading volumes, institutional investors continue to choose to mitigate risks in Ethereum amid the uncertainty of the direction of recovery following the recently completed Pectra upgrade in the earlier period.

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Important news:

Michael Saylor Signs New Tax Strategy Reflecting Same Approach to 2022 Bitcoin Sales  

Strategy buys an additional 535 BTC worth $43 million. After recently signaling, it may sell some  

The US Senate prepares to vote on a major set of crypto legislation this May 14

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Source:
https://www.coindesk.com/markets/2026/05/11/bitcoin-whipsaws-on-cme-open-as-iran-tensions-pressure-crypto-markets

https://www.ainvest.com/news/arbitrum-2026-collapse-flow-analysis-price-liquidity-2602/

https://www.mexc.com/news/1081082

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Note: This analysis is provided every Monday, so some articles may have data discrepancies.

Nota: Questo analisi è situato ogni monday, quindi alcuni parte del articolo possono contengono informazioni inaccurati

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WARNING: CRYPTOCURRENCIES AND DIGITAL TOKENS ARE HIGHLY RISKY. YOU MAY LOSE YOUR ENTIRE INVESTMENT. PLEASE STUDY AND INVEST ACCORDING TO THE ACCEPTABLE LEVEL OF RISK.

Thank you for following.

J.P. Daniel

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