{"id":1270902,"date":"2026-06-02T11:58:36","date_gmt":"2026-06-02T08:58:36","guid":{"rendered":"https:\/\/www.etoro.com\/?p=1270902"},"modified":"2026-06-04T22:04:02","modified_gmt":"2026-06-04T19:04:02","slug":"bitcoin-struggled-in-may-but-not-all-crypto-did","status":"publish","type":"post","link":"https:\/\/www.etoro.com\/en-us\/news-and-analysis\/the-daily-breakdown\/bitcoin-struggled-in-may-but-not-all-crypto-did\/","title":{"rendered":"Bitcoin Struggled in May. But Not All Crypto Did"},"content":{"rendered":"

The Daily Breakdown takes a closer look at the crypto market, as not all names struggled like Bitcoin and Ethereum did.<\/p>\n

Before we dive in, let\u2019s make sure you\u2019re set to receive The Daily Breakdown each morning. <\/span><\/i>To keep getting our daily insights<\/i><\/b>, all you need to do is <\/span><\/i>log in<\/span><\/i><\/a> to your eToro account.<\/span><\/i><\/p>\n

What’s Happening?<\/b><\/h2>\n

The Dow, Nasdaq 100, and S&P 500 all hit record highs yesterday, with all three indexes gaining for the seventh time in the past eight sessions. Oil is holding around $90 a barrel as Middle East peace talks drag on, while gold has seemingly found a foothold near $4,500. As for crypto? That\u2019s been a different story.<\/span><\/p>\n

\u26a1 Crypto Corner<\/b><\/h4>\n

Bitcoin<\/a> is off to a tough start this month, slipping about 3% yesterday and falling more than 5% so far in June as it breaks below $70K for the first time in almost two months. Ethereum<\/a> is holding up better, down just over 1% so far this month, although both BTC and ETH finished lower in May.<\/span><\/p>\n

However, excluding BTC and ETH, the crypto space actually eked out a slight gain in May, rising 3.9%. Some of the top gainers for the month included Injective<\/a> (+91%), Near Protocol<\/a> (+79%), Stellar<\/a> (+64%), Akash Network<\/a> (+54%), Jito<\/a> (+46%), Ondo<\/a> (+39%), Render<\/a> (+24%), Sei (+19%), and Basic Attention Token<\/a> (+18%).<\/span><\/p>\n

Check out these crypto offerings \u2014 and many more \u2014 on <\/b>eToro\u2019s Discover page<\/b><\/a> and consider adding them to your watchlist. <\/b>Not all of these assets are not currently available for NY users. <\/span>Learn more<\/span><\/a>. <\/span><\/p>\n

Want to receive these insights straight to your inbox?<\/strong><\/p>\n

Sign up here<\/a><\/p>\n

The Setup \u2014 ICE<\/b><\/h2>\n

Intercontinental Exchange<\/a> is best known for owning and operating major exchanges and data businesses like the New York Stock Exchange (NYSE), although it operates other key units within the financial space.\u00a0<\/span><\/p>\n

\"Weekly
Chart as of the close on 6\/2\/2026. Source: eToro ProCharts, courtesy of TradingView.<\/em><\/figcaption><\/figure>\n

With its recent dip, shares are pulling back to the key $140 to $145 zone, which has been support since 2024. Bulls are hoping that this area again buoys the stock. If that\u2019s not the case though, bearish momentum could continue. For what it\u2019s worth, peers like Cboe Global Markets and CME Group have been under pressure too.\u00a0<\/span><\/p>\n

Options<\/b><\/h4>\n

As of June 2nd, the options with the highest open interest for ICE stock \u2014 meaning the contracts with the largest open positions in the options market \u2014 were the June $150 puts, followed by the January 2027 $160 calls.\u00a0<\/span><\/p>\n

Investors who are bullish could consider calls or call spreads as one way to speculate on further upside, while bearish investors could consider puts or put spreads to speculate on a further move to the downside. For options traders, it may be advantageous to have adequate time until the option\u2019s expiration.\u00a0<\/span><\/p>\n

To learn more about options, consider visiting the <\/span>eToro Academy<\/span><\/a>.<\/span><\/p>\n

What Wall Street’s Watching<\/h2>\n

MRVL
\n<\/b>Marvell<\/a> shares are surging roughly 20% after Nvidia<\/a> CEO Jensen Huang predicted the chipmaker could be the next company to reach a $1 trillion valuation, citing the arrival of \u201cuseful AI.\u201d Nvidia owns a $2 billion stake in Marvell, which is benefiting from booming demand for AI chips, networking and data-center infrastructure. <\/span>Dig into the fundamentals for MRVL<\/span><\/a>.\u00a0<\/span><\/p>\n

GOOGL
\n<\/b>Alphabet<\/a> is raising $80 billion through equity offerings and a Berkshire Hathaway<\/a> investment to help fund its robust AI spending, including infrastructure for its in-house TPU chips. The move is rare for a company of Google\u2019s size, but reflects how costly the AI race has become \u2014 with Alphabet\u2019s capex potentially reaching $300 billion next year. <\/span>The consensus price target on GOOGL is $428<\/span><\/a>.\u00a0<\/span><\/p>\n

HPE
\n<\/b>HPE<\/a> is soaring after the company forecast stronger-than-expected annual sales growth, citing booming AI demand for servers and networking. Revenue jumped 40% last quarter, while profit and its full-year earnings outlook topped estimates. Shares were up 94% as of yesterday\u2019s close, but are set for more record highs this morning. <\/span>Check out the charts for HPE<\/span><\/a>.<\/span><\/p>\n

Disclaimer:<\/i><\/b><\/p>\n

Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.<\/i><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

The Daily Breakdown takes a closer look at the crypto market, as not all names struggled like Bitcoin and Ethereum did. Before we dive in, let\u2019s make sure you\u2019re set to receive The Daily Breakdown each morning. To keep getting our daily insights, all you need to do is log in to your eToro account.…<\/p>\n","protected":false},"author":130,"featured_media":819735,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[6894],"tags":[],"asset_type":[],"class_list":["post-1270902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-breakdown"],"acf":[],"yoast_head":"The Daily Breakdown: Bitcoin Struggled in May. 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