Crypto markets endured further pressure this week as the sell-off spread to 
some of the industry&#8217;s largest digital asset treasuries (DATs). As of Friday, 
Bitcoin (BTC) had slipped back below $60,000 for the first time since 2024, 
Ethereum (ETH) was trading around $1,550, and Hyperliquid (HYPE) was near $57. 
While the declines weighed on the broader market, the impact has been most 
visible in the large treasury companies associated with BTC and 
ETH—specifically Strategy (MSTR) and Bitmine (BMNR). Hyperliquid Strategies 
(PURR), however, has continued to post gains on an unrealized basis, 
highlighting how its performance still outpaces the market’s major benchmarks. 
Hyperliquid Strategies Avoids The Worst With $1.2B Gains According to Artemis 
data, Strategy and Bitmine are carrying significant unrealized losses of about 
$12.8 billion and $10.3 billion, respectively. In contrast, Hyperliquid 
Strategies is positioned differently. Artemis data further indicates that 
Hyperliquid Strategies is the only major digital asset treasury company in the 
industry so far still in positive territory, with approximately $1.2 billion 
in unrealized gains, as seen in the chart below. Related Reading: Bitcoin 
Faces Pressure As Investors Rotate Capital Into AI Buildout: Saylor In 
practical terms, that means the stress seen across most crypto-linked balance 
sheets has not hit Hyperliquid in the same way, even as prices pulled back 
sharply elsewhere. The weakness has also reached other large public holders 
beyond the two biggest names. Lookonchain data shows the recent retrace has 
extended further, with SharpLink down $1.59 billion on ETH, and Metaplanet 
down $1.38 billion on BTC. The pattern is consistent: as BTC and ETH retrace, 
companies concentrated in those assets tend to reflect the decline in their 
mark-to-market or unrealized reporting. Weekly BTC, ETH Pullback Hits MSTR, 
BMNR Stocks Bitcoin’s move has been particularly notable on the weekly chart. 
The asset recorded a major 20% retrace on the weekly time frame, and that 
broader drop has filtered down to equities and crypto proxies as well. 
Strategy’s stock, MSTR, fell 14% on Friday alone, trading around $115 per 
share. Bitmine’s stock, BMNR, also logged double-digit losses on Friday, down 
12% to roughly $15.76 per share, adding to pressure on investors. Related 
Reading: Coinbase Reveals First Mortgage With Bitcoin Collateral Under Fannie 
Mae Coverage Hyperliquid’s native token, HYPE, saw its own sharp decline 
during the same period, dropping 14%. Even with that pullback, Hyperliquid 
Strategies’ PURR price showed comparatively limited movement, with only a 1.2% 
retrace to $8.3 for the current trading session. Together, these snapshots 
underline a clear divergence: While Strategy and Bitmine reflect the drawdown 
of BTC and ETH in a straightforward way through large unrealized losses, 
Hyperliquid Strategies remains comparatively resilient, maintaining positive 
unrealized performance even as the market sells off. Featured image created 
with OpenArt; chart from TradingView.com

Crypto markets endured further pressure this week as the sell-off spread to some of the industry&#8217;s largest digital asset treasuries (DATs). As of Friday, Bitcoin (BTC) had slipped back below $60,000 for the first time since 2024, Ethereum (ETH) was trading around $1,550, and Hyperliquid (HYPE) was near $57. While the declines weighed on the &#8230;

Hyperliquid Strategies Stays Profitable: Strategy And Bitmine Record Losses Above $10 Billion

Digital asset treasury companies have come under fresh pressure as the crypto 
market slump has pushed major bitcoin, ether, and Solana holders into large 
unrealized losses. Artemis data shows that Hyperliquid-focused treasury firms 
are the only major group still holding…

Digital asset treasury companies have come under fresh pressure as the crypto market slump has pushed major bitcoin, ether, and Solana holders into large unrealized losses. Artemis data shows that Hyperliquid-focused treasury firms are the only major group still holding…

Crypto treasury boom splits as HYPE holders escape worst losses

A broad crypto sell-off on Friday dragged the total altcoin market 
capitalization down to $880 billion. Zcash was the hardest-hit major token, 
crashing over 40% to $264.80. Market Bloodbath Drags Altcoin Cap Below $1 
Trillion The mayhem that characterized the cryptocurrency market on Friday saw 
several high-cap altcoins log double-digit losses, resulting in the aggregate 
[…]

A broad crypto sell-off on Friday dragged the total altcoin market capitalization down to $880 billion. Zcash was the hardest-hit major token, crashing over 40% to $264.80. Market Bloodbath Drags Altcoin Cap Below $1 Trillion The mayhem that characterized the cryptocurrency market on Friday saw several high-cap altcoins log double-digit losses, resulting in the aggregate &#8230;

Ethereum Drags Altcoins Below $880B as 22% Weekly Slide Shakes Trader Confidence

Travala’s new protocol lets AI agents search and book hotels with USDC on 
Base, but travelers still approve the final payment.

Travala’s new protocol lets AI agents search and book hotels with USDC on Base, but travelers still approve the final payment.

Travala lets AI agents book hotels with USDC on Base

Among the issues US lawmakers are expected to discuss in a digital asset 
taxation hearing are “de minimis” reporting exceptions for crypto 
transactions.

Among the issues US lawmakers are expected to discuss in a digital asset taxation hearing are “de minimis” reporting exceptions for crypto transactions.

Crypto tax proposals weighed ahead of Tuesday House hearing

XRP is attracting institutional capital at a time when liquidity across the 
market is moving in the opposite direction. Fresh ETF inflows and growing 
accumulation among long-term holders continue to support the bullish case, but 
recent data suggest a different challenge is emerging beneath the surface. 
While demand appears healthy, the amount of liquidity available to absorb 
buying and selling activity has fallen sharply. XRP Continues To Attract 
Institutional Interest XRP has increasingly distinguished itself from the 
broader digital asset market. While several major crypto investment products 
struggled to attract capital in recent months, XRP-focused funds racked in 
$131.94 million in May 2026. Related Reading: The Bitcoin Bear Market Is Over: 
Here’s Where We Are In The Cycle This trend has remained largely consistent. 
Apart from a brief slowdown in March, XRP investment products have continued 
to attract capital, with fresh inflows extending into early June. 
Institutional capital inflow is particularly noteworthy because it comes at a 
time when investor sentiment has deteriorated across many digital assets. 
Rather than pulling back, institutions appear to be viewing XRP as a strategic 
opportunity. On-chain data reinforces that view. As prices declined toward the 
start of June, long-term holders increased their positions. Recent holder net 
position data shows a sharp rise in accumulation, suggesting that experienced 
investors were buying during the selloff rather than exiting the market. 
Liquidity Dries Up As XRP Tests Major Support According to @CryptoQuant_com on 
X, XRP’s Binance 30-day Liquidity Index has fallen to its lowest level since 
early 2020. The indicator has dropped close to zero even though XRP continues 
to trade above $1.20. Historically, higher liquidity levels have accompanied 
some of XRP’s strongest rallies, making the current decline particularly 
noteworthy. For newer investors, liquidity refers to how easily an asset can 
be bought or sold without causing major price swings. When liquidity falls, 
fewer orders are available to absorb trades, making the market more vulnerable 
to sudden volatility. Under these conditions, even modest buying or selling 
pressure can trigger outsized price moves. Related Reading: Analyst Reveals 
Why Bitcoin Price Must Crash To $42,000 First The technical picture reflects 
this growing tension. Following a steep 53% correction earlier this year, XRP 
entered a broad ascending channel and has spent several months consolidating 
within that range. Recent selling pressure has pushed the asset back toward 
the lower boundary of the channel near $1.19-$1.20, an area that also aligns 
with a major Fibonacci support level around $1.20. If buyers regain control, 
resistance levels sit near $1.29, $1.36, $1.45, and $1.51, while a move toward 
$1.60 would bring the upper boundary of the channel back into focus. However, 
a decisive break below the $1.19 support zone could expose XRP to further 
downside toward $1.11 and potentially the psychological $1 level. For now, XRP 
remains at the intersection of two opposing forces. Institutional demand 
continues to strengthen, but liquidity has fallen to multi-year lows. Until 
one side gains the upper hand, XRP’s next major move may depend less on 
investor interest and more on whether the market has enough liquidity to 
absorb it. Featured image created with Dall.E, chart from Tradingview.com

XRP is attracting institutional capital at a time when liquidity across the market is moving in the opposite direction. Fresh ETF inflows and growing accumulation among long-term holders continue to support the bullish case, but recent data suggest a different challenge is emerging beneath the surface. While demand appears healthy, the amount of liquidity available &#8230;

Hyperliquid Strategies Stays Profitable: Strategy And Bitmine Record Losses Above $10 Billion

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