As Bitcoin Loses Momentum, Money Pours In…Hyperliquid and Flare Skyrocket

▲ Bitcoin (BTC) ©Godasol

While Bitcoin (BTC) struggles to find direction around the $80,000 mark, Hyperliquid (HYPE) and Flare (FLR) continue their double-digit surges, boosting the altcoin market sentiment. Market analysis suggests that Bitcoin has entered a consolidation phase, entangled with US-China summit diplomacy and Middle East risks, while funds are shifting towards some altcoins.

According to investment media FXStreet on May 15 (local time), Bitcoin has been fluctuating around the $80,000 mark during the trading session, 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. The CoinMarketCap Fear & Greed Index recorded 50, reflecting investors' wait-and-see attitude.

Technically, Bitcoin is maintaining a short-term bullish structure but has failed to break through 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 its recent dead cross, signaling a slowdown in upward momentum.

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

Flare also continued its rebound. FLR formed a double bottom pattern at the $0.00735 support level and then rose 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 through the psychological resistance of $0.0100 is drawing attention as a key variable for the next upward trend.

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

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