Bitcoin Stays Afloat as Altcoins Decline and Regulatory Risks Loom

The crypto market is experiencing a significant shift, with Bitcoin showing resilience despite the decline of altcoins. Institutional capital is flowing into stable tokens like Hyperliquid's HYPE, pushing it above Dogecoin in market cap.

According to recent data, HYPE has seen a massive surge in its market cap, reaching $16.03 billion and surpassing DOGE's $15.95 billion. This rise can be attributed to the token's unique DeFi flywheel, which automatically directs trading fees into buying back HYPE from the open market.

On the other hand, XRP is struggling to break free from its bearish trend due to lack of ETF support and potential regulatory risks. Despite seeing a significant influx of institutional capital in the form of $116.74 million in U.S. spot ETF inflows, XRP's price has fallen by 0.16% since May's start.

The only factor that could potentially change this trend is the upcoming Senate vote on the CLARITY Act, which is expected to bring regulatory clarity to the market and may boost XRP's value. However, until then, the token remains vulnerable to a drop towards $1.05.