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- Crypto Saving Expert Newsletter - Issue 191
Crypto Saving Expert Newsletter - Issue 191
GM.
Bitcoin is still holding its wider bullish structure, but the market is waiting for a clear decision.
After last week’s pullback, the move has not done any real damage to the higher-time-frame picture just yet.
But while Bitcoin consolidates, a few major altcoin charts are starting to look more interesting.
Hyperliquid is pushing into a key resistance area, while Solana continues to battle with an important high-time-frame zone after months of consolidation.
Sentiment is still cautious, with the Fear and Greed Index stuck in Fear, showing the market is not fully convinced yet.
With FOMC minutes and PMI data landing this week, volatility could pick up quickly.
Let’s break it down.👇
Table of Contents
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Bitcoin Holds The Line
Despite Bitcoin dropping quite aggressively from $83,000, its overall structure and bullish outlook remain very much intact.
Bitcoin
Bitcoin is at a very interesting point, having broken the low-time frame resistance trendline, and has begun pushing upwards.
However, it could soon come into contact with the next trendline, which is the lower boundary of the trading channel it formed, and now acts as resistance after previously being support.
If it reclaims it, then it opens the door for a push into the upper part of the channel. If it rejects, Bitcoin could find itself caught in limbo.
High-Time Frame
Bitcoin’s high time frame remains bullish and unaffected by the recent drop.
This is because it has yet to even test the key S/R zone around $74,000. As long as Bitcoin holds above that, the structure is intact.
However, if Bitcoin bottoms here, this could be a higher low and somewhat of a front run of it hitting the below zone.
In short, Bitcoin needs to break above $83,000 to continue its run.
Hyperliquid
There is not much to dissect on the Hyperliquid chart, which in this case is a good thing.
This is because it may be in the process of breaking through weekly resistance, a huge marker and pivot point for HYPE.
If it can do this, then it flips a massive zone, but also then has a short run into an all-time high, and price discovery.
Solana
Solana has been consolidating for over 100 days. So this time, we are looking at what the current price action actually means on a very high time frame.
The monthly chart shows us that SOL is getting caught at monthly S/R, hence the inability to break above in the past three months.
The first task is to break and hold above $100. From there, it then has a gap to run into towards $125, which is the next key monthly point.
This is the lower bound of Solana’s massive range, built from years of price action. If it eventually regains this, then the whole range is on the table.
Lighter
We previously covered a position on LIT where we looked for a reaction out of the sub .90c demand zone. This has given us a strong push up towards the liquidity at $1.30. A push here could present an interesting TP and potential short position should we see a candle breakdown.
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AERO
AERO is sitting in a really interesting spot. From a chart perspective, we see a clear rejection from the upper liquidity zone after it broke out of its accumulation range. However, fundamentally, we are seeing Base memes gain traction and so this Base dex could be poised for position. Aero moves fairly violently when it does and so a bounce from this previous zone could provide an interesting trade.
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BRETT
Staying on the Base memes, we have seen a push back into the accumulation range for BRETT after the purge of the upside liquidity. This is an interesting one to watch as we may see another run following some accumulation. The set up to watch is a deviation below the range before a strong push up. Invalidation for this would come below the lows at 0.005665, as that would see negative price discovery.
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Important Dates
Wednesday 20 May, 19:00 BST - FOMC Minutes
The minutes from the Fed’s FOMC meeting in June will be released. This will provide a deeper insight into what was discussed in the meeting, alongside the tone of the comments.
Thursday 21 May, 14:45 BST - S&P Global Manufacturing PMI
S&P Global releases the Manufacturing Purchasing Managers Index (PMI) data, which measures the manufacturing industry. The data is a crucial measurement of the US economy, as it is a significant portion of the revenue for large businesses.
The data is forecasted at 54.
Thursday 21 May, 14:45 BST - S&P Global Services PMI
S&P Global also releases a second piece of data, the services PMI data, which measures the service industry. The data is another factor alluding to the economy’s strength, as it makes up much of the GDP alongside manufacturing.
The data is forecasted at 51.
Friday 22 May, (No Time Set) - Kevin Warsh Sworn In As Fed Chair
President Trump swears in Kevin Warsh as the next Federal Reserve Chair at the White House.
Fear And Greed Index
The Fear and Greed Index stays within the Fear segment, scoring 27. There has been a drop in the score since last week, which is down to Bitcoin’s slight decline.
However, it has still been unable to escape Fear during this whole run, so until Bitcoin rallies higher, sentiment is unlikely to change.
Gainers
Losers
Bitwise Says Hyperliquid Is “One of the Most Mispriced Assets in Crypto Today”
Bitwise CIO Matt Hougan says Hyperliquid and its HYPE token are being massively underestimated as the platform evolves into a crypto “super-app.
Crypto asset manager Bitwise believes Hyperliquid could be one of the most undervalued projects in the digital asset market today, despite the explosive performance of its native HYPE token this year.
In a note published Tuesday, Bitwise Chief Investment Officer Matt Hougan described Hyperliquid as “one of the most important crypto projects to emerge in years,” arguing that the market still fails to fully understand the scale of what the platform is becoming.
“Its native token, HYPE, is the best-performing large-cap crypto asset of 2026, up 77% year to date,” Hougan said.
“And yet I still think investors are underestimating its impact and its value.”
Bitwise Says Market Is Valuing Hyperliquid Incorrectly
According to Hougan, the market’s biggest mistake is treating Hyperliquid purely as a perpetual futures exchange rather than a broader financial platform.
While Hyperliquid initially gained popularity through crypto perpetual futures trading, the platform has increasingly expanded into additional markets, including stocks, prediction markets and tokenised assets.
Hougan argued this evolution means Hyperliquid should be viewed more like a “global super-app” than a niche derivatives venue.
He noted that nearly half of Hyperliquid’s trading volume now comes from non-crypto assets, highlighting how quickly the platform’s scope is expanding.
HYPE ETF Launches See Mixed Early Demand
Bitwise launched its HYPE exchange-traded fund on the New York Stock Exchange on Friday, marking another step toward institutional exposure to the ecosystem.
Just days earlier, 21Shares also rolled out its own HYPE-focused ETF product.
However, the early inflow numbers were relatively modest compared to previous high-profile crypto ETF launches.
The 21Shares HYPE fund reportedly attracted just $1.2m in net inflows during its debut week.
Despite that, Bitwise appears convinced institutional appetite for Hyperliquid could grow significantly as investors better understand the platform’s broader ambitions.
Crypto Exchanges Race Toward “Super-App” Model
Hyperliquid’s strategy reflects a growing trend across the crypto industry, where exchanges are increasingly attempting to become all-in-one financial ecosystems.
Major crypto firms, including Coinbase, Kraken and Gemini, have all explored expansion into areas such as prediction markets, tokenised equities and multi-asset trading platforms.
The push comes as exchanges look for new revenue streams beyond traditional spot crypto trading.
Hougan also pointed to comments from SEC Chair Paul Atkins, who recently expressed support for platforms capable of custodying and trading multiple asset classes under a single regulatory framework.
Atkins has reportedly tasked regulators with exploring ways to allow tokenised securities to trade on alternative platforms outside traditional SEC-regulated exchanges.
Hougan argued Hyperliquid may already represent the type of platform regulators are beginning to envision.
“Hyperliquid has become the ‘super-app’ Atkins envisioned, a ‘non-SEC regulated platform’ offering investors exposure to a variety of asset classes,” Hougan wrote.
US Expansion Remains Key Challenge
Despite the bullish outlook, Hougan acknowledged Hyperliquid still faces major hurdles.
The platform is currently unavailable in the United States and would likely need to integrate more deeply with US regulatory systems before achieving mainstream adoption.
Regulatory clarity around tokenised assets, prediction markets and multi-asset trading infrastructure also remains uncertain.
Still, several major crypto figures remain optimistic about the platform’s long-term trajectory.
BitMEX co-founder Arthur Hayes previously argued in a March blog post that HYPE could continue outperforming if Hyperliquid successfully captures more trading volume from centralised exchanges while continuing to broaden its product suite.
UK Inflation Falls to 2.8%, But Energy Shock Fears Keep Bank of England on Edge
UK inflation cooled to 2.8% in April, but rising energy prices tied to Middle East tensions could push inflation back above 4% later this year.
The U.K.’s inflation rate cooled more than expected in April, offering temporary relief to households and policymakers, but economists warn the slowdown may not last long.
According to preliminary data released Wednesday by the Office for National Statistics (ONS), annual inflation fell to 2.8% in April, down from 3.3% in March and below economists' expectations of 3%.
The drop was largely driven by lower household energy costs following changes to the U.K.’s energy price cap, alongside easing food inflation and slower rises in utility-related bills.
However, mounting geopolitical tensions and rising global energy prices are already raising concerns that inflation could accelerate again later this year, putting the Bank of England in a difficult position.
Energy Prices Helped Pull Inflation Lower
ONS Chief Economist Grant Fitzner said lower electricity and gas prices were the primary reason behind the slowdown.
The decline followed adjustments to the Ofgem energy price cap introduced on April 1, combined with softer wholesale energy prices earlier in the year before tensions in the Middle East intensified.
Fitzner also noted that smaller increases in water bills, sewage charges and vehicle taxes compared to last year contributed to the easing trend.
Food prices also played a role, with falling costs for products such as chocolate and meat helping cool overall inflation.
“These were only partially offset by a further increase in petrol and diesel prices, and an uptick in the cost of clothing and footwear,” Fitzner said.
Iran Conflict Could Reverse Progress
Despite the encouraging April figures, economists believe inflationary pressures are likely to return.
Rising oil and gas prices linked to the conflict involving Iran are expected to filter through to consumers in the coming months, especially in the U.K., which remains heavily dependent on imported energy.
The issue has increased political pressure on Chancellor Rachel Reeves and the Labour government, with critics arguing the country has failed to sufficiently protect itself from global energy shocks.
According to Reuters, Reeves is expected to announce reforms allowing Parliament to fast-track approval for critical energy infrastructure projects.
Bank of England Faces Difficult Decision
The latest inflation reading arrives at a sensitive moment for the Bank of England.
Markets are currently pricing in a strong chance of a 25 basis point interest rate hike at the BOE’s July meeting, which would push the Bank Rate to 4%.
At the same time, the British economy continues to show signs of weakness.
Recent labour market data revealed unemployment rose to 5% in the three months to March, up from 4.9% previously, while economic growth remains sluggish.
That leaves policymakers balancing two competing risks:
Raise rates too aggressively and further damage growth.
Hold rates steady and risk another wave of inflation becoming embedded in wages and consumer prices.
Economists are particularly focused on so-called “second-round effects,” where workers demand higher wages to compensate for inflation, forcing businesses to increase prices further.
Economists Warn Inflation Could Climb Above 4%
George Brown, senior economist at Schroders, warned that April’s slowdown may only be temporary.
“Inflation took a step back in April, but is set to leap at the end of spring,” Brown said.
He added that higher energy costs could push inflation back above 4% later this year, after earlier expectations suggested inflation might fall close to the BOE’s 2% target by summer.
Still, Brown believes weakening employment conditions and fragile economic growth could limit how aggressively inflation spreads through the broader economy.
For now, markets expect the Bank of England to maintain a hawkish tone, even if policymakers ultimately avoid further rate hikes this year.
Tom Lee Says Oil Prices Are Crushing Ethereum, And The Middle East War May Be Why ETH Can’t Rally
Fundstrat’s Tom Lee says soaring oil prices linked to the US-Iran conflict have become Ethereum’s biggest macro headwind as ETH struggles near $2,100.
Ethereum has spent months struggling to regain momentum while Bitcoin continues dominating the crypto market narrative.
Now Fundstrat co-founder Tom Lee thinks he knows why.
According to Lee, the biggest headwind facing Ether right now isn’t internal Ethereum drama, ETF flows or network competition.
It’s oil.
More specifically:
The geopolitical shockwave caused by the US-Iran conflict and the resulting surge in crude prices.
Ethereum And Oil Have Become Inversely Correlated
Lee said on Monday that Ether’s inverse correlation with oil prices has reached record levels.
In simple terms:
As oil rises, Ethereum falls.
Since the US-Israeli conflict began in late February, crude oil prices have exploded higher.
WTI crude recently surged above $108 per barrel, while Brent crude briefly hit $111 after Donald Trump warned that “the clock is ticking” for Iran to agree to terms surrounding the Strait of Hormuz.
Overall, oil prices have climbed roughly 66% during the conflict.
Ethereum, meanwhile, has largely gone nowhere.
Over the past week alone, ETH has fallen nearly 10%, sliding back toward the $2,100 level and remaining more than 57% below its all-time high.
Why Rising Oil Prices Hurt Ethereum
Higher oil prices create ripple effects across the entire global financial system.
When energy prices spike, markets begin pricing in:
Higher inflation
Slower economic growth
Tighter monetary policy
Greater geopolitical risk
Reduced investor appetite for risk assets
Ethereum tends to suffer more than Bitcoin in those environments because ETH increasingly trades like a high-beta technology asset.
That means when macro conditions deteriorate, investors often rotate out of ETH faster than they do BTC.
The market starts treating Ethereum less like digital gold and more like speculative tech infrastructure.
The Strait Of Hormuz Is Becoming The Market’s Biggest Fear
Much of the oil panic centres around the Strait of Hormuz, the critical shipping route that handles roughly 20% of global oil supply.
Any prolonged disruption there could trigger:
Higher fuel costs globally
Renewed inflation spikes
Pressure on central banks
Further risk-off moves across financial markets
Crypto is not isolated from that environment anymore.
As institutional capital increasingly enters digital assets, macroeconomic events now impact crypto markets far more directly than they did in previous cycles.
Tom Lee Still Thinks Ethereum Wins Long-Term
Despite the weak price action, Lee remains bullish on Ethereum over the longer term.
He described the current oil-driven weakness as “short-term tactical noise” rather than a structural problem for ETH itself.
According to Lee, Ethereum’s biggest long-term drivers remain:
Real-world asset tokenisation
Agentic AI
Stablecoin infrastructure
Financial settlement systems
Ethereum continues dominating the tokenisation market, particularly among major financial institutions.
BlackRock, JPMorgan and several other large firms have all launched tokenised products tied to Ethereum infrastructure.
Meanwhile, the growing “agentic AI” narrative is creating a new bull case for crypto payments.
The theory is simple:
Autonomous AI agents cannot easily access traditional bank accounts.
So if AI systems begin transacting independently, they may rely on crypto rails instead, particularly Ethereum and stablecoins.
But Oil Isn’t Ethereum’s Only Problem
Not everyone believes crude prices are the sole reason behind ETH’s weakness.
Bitrue Research Institute’s Andri Fauzan Adziima said Ethereum is facing “multi-factor pressure.”
That includes:
ETF outflows
Whale selling
Rising exchange reserves
Broader macro uncertainty
Continued underperformance against Bitcoin
Ethereum’s struggle has increasingly become psychological as well as technical.
While Bitcoin continues attracting institutional dominance narratives, ETH has spent much of 2026 trapped between powerful long-term adoption stories and disappointing short-term price action.
The Bigger Question: Is ETH Becoming A Macro Asset?
The bigger takeaway may be what this says about crypto itself.
If Ethereum is now trading in direct response to oil shocks, inflation fears and geopolitical conflict, then crypto has fully entered the macro era.
That changes how investors evaluate the asset class entirely.
Ethereum is no longer moving purely on:
Network upgrades
Gas fees
Onchain metrics
Crypto-native narratives
It is increasingly reacting to the same global forces driving bonds, equities and commodities.
For crypto markets, that may be the biggest structural shift of all.
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