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Concerns are growing over a potential further decline in the crypto market as Bitcoin has failed to turn the $82,000 resistance level into support. According to Cointelegraph, prominent Bitcoin trader JDK noted that BTC remains within a trading range and has failed to break through key upper resistance. Trader CGT echoed this sentiment, predicting a high probability that Bitcoin will break below its previous rebound support level. While some analysts have warned that BTC could be entering a new downtrend, other market participants believe there is still potential for a rally, following the upward trend in the U.S. stock market. Meanwhile, amid the recent range-bound trading, approximately $330 million in long and short positions have been liquidated across the crypto market in the past 24 hours.

South Korean crypto exchange Upbit announced it is delaying the listing of Iris (IRYS). The start of trading, originally scheduled for 11:00 a.m. UTC today, has been postponed to 11:30 a.m. UTC.

U.S. President Donald Trump stated that he has achieved a complete victory in military operations against Iran.

South Korean crypto exchange Coinone has issued an investor warning for THORChain (RUNE), stating that it has confirmed evidence of a security incident involving the project.

Thorchain (RUNE) has urgently halted trading following a suspected exploit across the Bitcoin, Ethereum, BNB Chain, and Base networks, The Block reported. On-chain analysts ZachXBT and PeckShield have identified addresses believed to be linked to the attack, stating that estimated damages so far exceed $10 million. However, both analysts noted that the attack has not yet been fully confirmed.

Iranian Foreign Minister Araghchi announced that all ships, except for those engaged in hostilities with Iran, are permitted to pass through the Strait of Hormuz.

Bithumb has announced that it will temporarily suspend deposits and withdrawals for Polygon Ecosystem (POL) starting at 10:00 a.m. UTC on May 21. The measure is to support an upcoming network upgrade.

Victims of terrorism linked to Iran have filed a motion in a U.S. court requesting an order for Tether to transfer 344.14 million in frozen USDT to them, The Block reported. The victims have an outstanding, unpaid judgment against the Iranian government and the Islamic Revolutionary Guard Corps (IRGC) for damages related to terrorist acts. The plaintiffs argue that because the USDT was held in wallets associated with the IRGC, an entity sanctioned by the Office of Foreign Assets Control (OFAC), the funds are subject to seizure and execution under U.S. federal law regarding terrorist assets. They also noted that Tether has previously burned and reissued frozen assets at the request of U.S. law enforcement, suggesting a similar method could be used to transfer the funds to the victims' wallets. The lawsuit is reportedly part of a larger effort to enforce judgments totaling approximately $2.42 billion in terrorism-related damages against Iran.

THORChain has suffered a $7.4 million loss from a hack across multiple networks, Onchain Lens reported, citing on-chain analyst ZachXBT.

The Polish parliament passed a bill today to incorporate the European Union's Markets in Crypto-Assets (MiCA) regulation into national law, Reuters reported. Local firms risk losing their authorization to provide virtual asset services if the law is not implemented by July. However, the bill still faces a potential presidential veto. Polish President Karol Nawrocki has previously vetoed similar MiCA-related legislation in February and in December of last year. Separately, prosecutors are investigating the country's largest exchange, Zondacrypto, over alleged fraud amounting to approximately $100 million, which has led to withdrawal difficulties for thousands of users.

The U.S. Commodity Futures Trading Commission (CFTC) is strengthening its oversight of cryptocurrency and prediction markets by using an AI-based surveillance system to detect abnormal trading and crack down on market manipulation, Wired reported. CFTC Commissioner Mike Selig explained that the agency is using AI to analyze patterns in large-scale trading data. This helps identify accounts potentially involved in insider trading or market manipulation and informs decisions on whether to investigate and issue subpoenas. The CFTC also reaffirmed its position that it can apply extraterritorial jurisdiction to offshore platforms like Polymarket if U.S. users are involved. The agency is reportedly combining on-chain analysis tools such as Chainalysis with its existing market surveillance systems to simultaneously track transactions in both cryptocurrency and traditional financial markets.

An address believed to belong to crypto custody and banking firm Anchorage Digital has purchased 74,175 HYPE, worth approximately $3.38 million, from Bybit, Onchain Lens reported. The same address has accumulated a total of 1.71 million HYPE, valued at around $72.82 million, over the past month and subsequently staked the tokens.

The potential departure of Federal Reserve (Fed) Chairman Jerome Powell and his replacement by Kevin Warsh is fueling a debate in the market over an "institutional reset" of U.S. monetary policy, the New York Times (NYT) reported. The NYT noted that even before his potential appointment, Warsh has argued for the need for structural reforms, including re-evaluating the Fed's inflation model, reducing its balance sheet, scaling back forward guidance, and strengthening policy coordination with the Treasury on government bonds. He has also recently criticized what he sees as the Fed's excessive market intervention and mission expansion. The market is now closely watching for potential shifts in interest rate policy and changes to the Fed's independence should Warsh take the helm, with some even discussing the possibility of further rate hikes, the report added.

Pendle announced on X that it holds 2,453,331 shares of Strategy's perpetual preferred stock, STRC, in a non-custodial manner through the STRC yield coin market. The company explained that it serves as a key platform for liquidity in the on-chain digital ecosystem.

South Korean crypto exchange Bithumb has announced the temporary suspension of deposits and withdrawals for Hedera (HBAR) starting at 10:00 a.m. UTC on May 20. The suspension is to support an upcoming network upgrade.

U.S. Nasdaq-listed Bitcoin mining company Iren Limited (formerly Iris Energy) announced it has completed a $3 billion convertible note offering. The initial offering was for $2.6 billion, with an additional $400 million raised through the full exercise of an over-allotment option. Iren plans to use the proceeds for general corporate purposes and call option transactions.

According to data from Coinglass, short positions worth $761.31 million on major centralized exchanges are projected to be liquidated if BTC breaks through $82,302. Conversely, if the price falls below $79,837, long positions amounting to $607.04 million will be liquidated.

South Korean exchange Upbit announced it will list Irys (IRYS) for trading against KRW, BTC, and USDT today at 11:00 a.m. UTC.

South Korean crypto exchange Bithumb posted 82.5 billion won ($61.1 million) in revenue for the first quarter, down 57.6% from the same period last year, according to a filing with South Korea's Financial Supervisory Service. Operating profit plunged 95.8% to 2.9 billion won ($2.1 million). The company also swung to a net loss of 86.9 billion won ($64.4 million).

Dunamu, the operator of South Korean crypto exchange Upbit, reported a sharp decline in its first-quarter earnings, with operating profit plummeting 78% year-on-year to 88 billion won ($67.7 million), according to Pinpoint News. The company's operating revenue fell 55% to 234.6 billion won ($180.5 million), and net profit also dropped 78% to 69.5 billion won ($53.5 million). Dunamu attributed the poor performance to a decrease in digital asset trading volume amid a global economic slowdown.

The United States has rejected a written 14-point proposal from Iran aimed at ending the ongoing war, the Tehran Times reported on May 15. In its reply, the U.S. government reportedly dismissed the proposal and reaffirmed its hardline stance on the nuclear issue. The plan proposed by Iran was based on a two-stage negotiation process. The first stage aimed to end the war on all fronts, with the second stage initiating negotiations on the nuclear issue, contingent on Iran's conditions being met.

Bitcoin's rally is losing momentum as short-term holders (STH) sell their holdings at their break-even price, according to an analysis. On-chain analyst Axel Adler Jr. noted in a blog post that BTC has failed three attempts to retest its 200-day moving average, currently around $82,100. He observed a recurring pattern of STH selling near their cost basis. Adler explained that the price is currently trapped in a narrow range, with support at the one-week to one-month STH realized price of $77,900 and resistance at the 200-day MA, adding that breakout attempts have lacked sufficient trading volume. For a trend reversal, he said two conditions must be met: a breakout above the 200-day MA on the daily chart and the seven-day moving average of the STH Spent Output Profit Ratio (SOPR) consistently remaining above one. Adler added that repeated breakout failures could lead to a pullback to $77,900, followed by a test of lower support levels.

South Korean crypto exchange Upbit has announced it will temporarily suspend deposits and withdrawals for POL and GMT starting at 11:00 a.m. UTC on May 21 due to a Polygon hard fork.

Whales holding at least 10 million XRP now possess a total of 45.83 billion XRP ($68.5 billion), the largest amount since May 2018, according to Santiment. This figure represents 68.5% of the total XRP supply.

Nasdaq-listed Bit Digital (BTBT), a company heavily invested in Ethereum, reported a 13.6% quarter-over-quarter decrease in revenue to $27.9 million for the first quarter of this year, according to The Block. The company's ETH staking revenue fell 29.4% to $2.3 million, crypto mining revenue dropped 32.9% to $3.7 million, and cloud service revenue declined 13.1% to $16.8 million. Bit Digital recorded a net loss of $146.7 million, primarily due to cryptocurrency valuation losses. The firm staked approximately 70,000 ETH during the quarter and held around 154,444 ETH, valued at $327 million, as of the end of March.