Bitcoin Loses Steam, Money Pours In…HyperLiquid and Flare Soar

▲ Bitcoin (BTC) ©Godasol

While Bitcoin (BTC) fails to find direction around the $80,000 mark, HyperLiquid (HYPE) and Flare (FLR) are continuing their double-digit surges, boosting the altcoin market sentiment. Analysis suggests that as Bitcoin takes a breather due to the intertwined US-China summit diplomacy and Middle East risks, funds are shifting towards some altcoins.

According to investment media outlet FXStreet on May 15 (local time), Bitcoin has been fluctuating around $80,000 during the day, failing to show a clear direction. Market sentiment remains neutral amidst US President Donald Trump's visit to China and the prolonged US-Iran conflict. CoinMarketCap's Fear & Greed Index recorded 50, reflecting investors' wait-and-see attitude.

Technically, Bitcoin is maintaining a short-term upward structure but is failing to break key resistance. Bitcoin is currently holding above its 50-day exponential moving average (EMA) of $76,711 but is capped below its 200-day EMA of $82,769. The Relative Strength Index (RSI) is at 59, indicating room for further upside, but the Moving Average Convergence Divergence (MACD) has remained in a bearish zone since a recent dead cross, signaling a slowdown in upward momentum.

Conversely, HyperLiquid continues its strong upward trend. HYPE is attempting to break through the upper boundary of its ascending channel, maintaining the $45 level after a 14% surge the previous day. The media analyzed that if it breaks the April 16 high of $45.77 on a closing basis, the next target area could be $51.15. The Moving Average Convergence Divergence (MACD) has turned into a buy signal again, and the RSI is also at 62, indicating that the upward trend is being maintained without overheating concerns.

Flare also continued its rebound. FLR formed a double bottom pattern at the $0.00735 support level and then moved above its 50-day EMA of $0.0082. However, with the RSI soaring to 81 and entering the overbought zone, the possibility of a short-term correction is also being discussed. In the market, whether it breaks the psychological resistance of $0.0100 is drawing attention as a key variable for the next upward trend.

The media noted the possibility of continued altcoin-centric rotation while Bitcoin explores its direction within the $80,000 range for the time being. Specifically, if Bitcoin breaks the 200-day EMA of $82,769, overall market preference for risk assets could strengthen again, but conversely, if the $76,711 support level collapses, short-term downward pressure could also increase, the analysis concluded.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*