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Akash Girimath

Akash Girimath

Akash Girimath brings seven years of experience in reporting crypto markets as a journalist and analyst. He previously managed the crypto coverage at FXStreet and CoinGape. Disclosure: Akash holds USDT.

Stories by Akash Girimath

  • Hyperliquid. Image: Decrypt/Hyperliquid

    Hyperliquid ETFs Draw In $172M Since Launch as HYPE Hits All-Time High

    Hyperliquid ETFs have been on a tear, starkly defying recent macroeconomic headwinds and the broader crypto market’s Q2 cooling. The protocol’s native token, HYPE, reflects that momentum, surging over 73% in the past month and 196% in 2026 to hit a new all-time high of $75.96 Tuesday morning, per CoinGecko data. Institutional fund flows tell a similar story. Three newly launched Hyperliquid ETFs have pulled in almost $172 million in net inflows since their May debut, while Bitcoin ETFs have she...

    NewsCoins
    4 min read
    Akash Girimath
  • Bitcoin. Source: Decrypt/Shutterstock

    Bitcoin Tops $65K on US-Iran Deal, But Traders Remain Skeptical

    Bitcoin jumped to highs over $65,000 after President Trump announced a completed deal with Iran, but investors remain skeptical about a lasting turnaround for the crypto market. The leading crypto is trading at $65,860, up 2.2% over the past 24 hours and 4% over the past week, according to CoinGecko data. The move follows Trump’s Truth Social posts on Sunday, in which he claimed to have made a “Great Deal” with Iran and authorized the “toll free opening of the Strait of Hormuz” and removal of th...

    NewsMarkets
    4 min read
    Akash Girimath
  • SpaceX. Image: Decrypt/Shutterstock

    Elon Musk's SpaceX IPO: The Bull and Bear Case for Bitcoin

    The initial public offering for Elon Musk's SpaceX on Friday has collided with crypto markets in an unexpected way. The $75 billion raise for the largest IPO in U.S. history will mark a milestone for traditional equities while serving as a direct stress test for crypto liquidity. That intersection is most visible on Hyperliquid, where pre-IPO perpetual contracts on SpaceX (SPCX) have amassed over $240 million in open interest and $220 million in 24-hour volume, making it the eighth-largest asset...

    NewsBusiness
    4 min read
    Akash Girimath
  • Bitcoin ETF. Image: Shutterstock/Decrypt

    Bitcoin ETFs Shed $2.1B in June So Far as Market Selloff Deepens

    The crypto market outlook remains gloomy as spot Bitcoin ETFs continue to bleed against a challenging macroeconomic and geopolitical backdrop. Bitcoin ETFs have shed $2.1 billion in June so far, pacing May’s $2.4 billion outflows, according to SoSoValue data. Wednesday’s $214 million outflow shows the trend remains intact even after the June 4 inflow blip broke the 13-day losing streak that drained roughly $4.4 billion from these products. Since May 10, the total net assets have declined by roug...

    NewsCoins
    4 min read
    Akash Girimath
  • Bitcoin and Ethereum. Image: Decrypt

    ‘Intense Capitulation’ Hits Crypto as 8M BTC, Bulk of ETH Supply Sit at Loss

    The crypto market’s 2026 drawdown, driven by Bitcoin's lackluster performance, has weighed heavily on most altcoins—borne out by on-chain data. Nearly half of Bitcoin’s circulating supply was in profit at the cycle peak. That has dropped sharply, with over 8 million BTC sitting underwater, “highlighting the scale of the recent market reset,” Glassnode posted Tuesday. A similar conclusion can be drawn for Ethereum, the second-largest cryptocurrency by market capitalization. “The share of Ethereu...

    NewsMarkets
    4 min read
    Akash Girimath
  • Bear market. Image: Shutterstock/Decrypt

    This is Bitcoin's Shallowest Bear Market—But is the Bottom In?

    Bitcoin’s price action has been down-only in June, dropping double-digits as capital continues to exit ETFs amid escalating geopolitical and macroeconomic tensions. Still, the leading crypto is down 50% from its October 2025 all-time high of $126,080, according to CoinGecko data, making it the shallowest bear market in Bitcoin's history. In 2012, the bear market drawdown exceeded 90%, according to CryptoQuant data. Since then, this number has been declining, reaching 82% for the next two cycles...

    NewsMarkets
    4 min read
    Akash Girimath
  • Bitcoin remains the largest crypto asset in the market. Image: Shutterstock/Decrypt

    Bitcoin's $63K Reclaim Liquidates $540M in Crypto Shorts, a 7-Week High

    A portion of last week’s selloff has come undone as Bitcoin bounced over the weekend, triggering a huge chunk of late shorts. Bitcoin recovered to highs of $63,800 Monday, up roughly 7.5% from Saturday’s $59,353 low, according to CoinGecko data. The cryptocurrency is currently trading at around $63,350, up 2.4% on the day. Bitcoin’s bounce liquidated $539 million in crypto short positions on Sunday, the highest level since the April 17 crash, according to CoinGlass data. Over the past 24 hours,...

    NewsMarkets
    3 min read
    Akash Girimath
  • Zcash. Image: Shutterstock

    ZEC Crashes 38% as Zcash Discloses ‘Critical Counterfeiting Vulnerability’

    Zcash plunged double digits overnight after developers disclosed a critical vulnerability in the protocol's Orchard shielded pool that could have allowed undetectable counterfeiting for over four years. The privacy coin dropped from Wednesday's local top of $635 to an intraday low of $309 on Thursday, according to CoinGecko data. It has since recovered slightly to around $330, down 37.8% on the day. https://t.co/v7BiOdzU9E — zooko🛡🦓🦓🦓 ⓩ (@zooko) June 4, 2026 The vulnerability was discovere...

    NewsMarkets
    4 min read
    Akash Girimath
  • Bitcoin. Source: Shutterstock/Decrypt

    As BTC Tests $62,000, How Low Can Bitcoin Go?

    Bitcoin continued to slide lower on Thursday, exacerbating losses across the entire crypto market with no clear signs of a bottom. The leading crypto has dropped roughly 17% over four days, from nearly $74,000 on Monday to Thursday’s intraday low of $61,556, according to CoinGecko data. In under four days, total crypto market liquidations hit $4.47 billion, with bullish bets contributing $3.82 billion–roughly 93% of all positions wiped. At time of publication, BTC remains underwater, trading at...

    NewsMarkets
    4 min read
    Akash Girimath
  • Michael Saylor, founder and chairman of Strategy. Image: Swan Bitcoin/YouTube/Decrypt

    Strategy Wanted to 'Inoculate' the Bitcoin Market—Has Its BTC Sale Backfired?

    Bitcoin is off to a shaky start in June, dropping roughly 10% from $74,000 to $65,400 as headwinds pile, but the outlook remains firmly fixated on the impact of Strategy’s first BTC sale since 2022. The Bitcoin treasury firm revealed in an 8-K filing Monday that it had sold 32 BTC the previous week, sparking heated debate on crypto Twitter. Michael Saylor's Bitcoin Treasury Firm Strategy Sells 32 BTC for $2.5M The move marked a reversal of Strategy’s long-held “Never sell your Bitcoin” stance, w...

    NewsCoins
    5 min read
    Akash Girimath
  • Crypto trading. Source: Shutterstock/Decrypt

    NEAR, Worldcoin Post Double-Digit Gains as Market Sees $714M in Liquidations

    The crypto trend remains firmly in risk-off territory as Bitcoin slipped below $70,000 for the first time in eight weeks, but a few altcoins have defied this slump and notched double-digit gains. NEAR Protocol is up 15% over 24 hours, according to CoinGecko data, while Worldcoin (WLD) and Internet Computer (ICP) and gains hover near 12% and 11% respectively. Hyperliquid is trading near $73, down 0.7% on the day and around 3% from its record high of $75.46 formed on Tuesday. The token is up 125%...

    NewsMarkets
    4 min read
    Akash Girimath
  • Bitcoin ETF. Image: Shutterstock/Decrypt

    Bitcoin ETF Losses Near $3B Across 10 Days as YTD Flows Turn Negative

    U.S. spot Bitcoin exchange-traded funds have now posted 10 consecutive days of net outflows, extending their longest ever sustained withdrawal streak and pushing year-to-date flows into negative territory for the first time in 2026. The streak, which began on May 15, has drained nearly $3 billion from the products, according to SoSoValue data. It marks a third consecutive week of outflows across all digital asset investment products—a pattern that CoinShares described as reminiscent of a Januar...

    NewsMarkets
    3 min read
    Akash Girimath
  • Bitcoin ETF. Image: Shutterstock/Decrypt

    Bitcoin ETFs Shed $2.8B in Record-Breaking Nine-Day Streak

    The crypto market outlook and investor sentiment continue to deteriorate as demand for spot Bitcoin ETFs wanes, reflected in an en masse exodus of institutional capital. Bitcoin ETFs have shed a total of $2.8 billion in nine consecutive days of outflows, starting May 15, according to SoSoValue data. The largest single-day outflow of $733.43 million came this Wednesday, driven mostly by a $527.84 million outflow from BlackRock’s IBIT. On a weekly timeframe, the capital exodus started with a $1 b...

    NewsCoins
    3 min read
    Akash Girimath
  • Image: Decrypt/Shutterstock

    Bitcoin Slips Under $73K as Crypto Liquidations Near $1B

    The crypto market saw almost $1 billion in liquidations over the past day as Bitcoin dipped under $73,000, with U.S. investors continuing to withdraw capital from spot Bitcoin ETFs amid escalating geopolitical tensions. Bitcoin dropped to an intraday low of $72,712 Tuesday, and is currently trading at $73,330 down 3.3% over the past 24 hours, per CoinGecko data. BTC's performance over the past week and year remains lackluster at -6% and -33%, respectively—underscoring the state of crypto markets...

    NewsMarkets
    3 min read
    Akash Girimath
  • BlackRock. Image: Shutterstock/Decrypt

    $1.3B Worth of BlackRock's IBIT Changes Hands in Dark Pool Sale

    A $1.3 billion block of BlackRock’s iShares Bitcoin Trust (IBIT) shares changed hands in a dark pool Tuesday morning, marking one of the largest off-exchange Bitcoin ETF transactions since the products launched 15 months ago. The nearly 29 million shares were executed at 10:30 a.m. ET, dwarfing all other trades of the session. The sale came as U.S. spot Bitcoin ETFs extended their outflow streak, with IBIT facing $192.4 million in net redemptions on Tuesday, per SoSoValue data. Confirmed.. 29 m...

    NewsCoins
    3 min read
    Akash Girimath
  • ETF. Source: Shutterstock/Decrypt

    Bitcoin, Ethereum ETFs Shed $112M as Hyperliquid Funds Extend 8-Day Win Streak

    Bitcoin and Ethereum exchange-traded funds posted $112 million in combined outflows on Monday, while two Hyperliquid ETFs extended their winning streak to eight consecutive days of net buying. The divergence highlights a growing split in institutional appetite: legacy crypto funds are bleeding capital amid macro uncertainty, while newer products tied to Hyperliquid’s high-growth infrastructure thesis continue to attract demand. Bitcoin ETFs led the losses with $105.2 million in outflows, while...

    NewsMarkets
    3 min read
    Akash Girimath
  • Source: Shutterstock/Decrypt

    NEAR Protocol Jumps 28% on Privacy, AI, and Scaling Upgrades

    NEAR Protocol’s token surged 28% to lead altcoin gains over the past 24 hours, extending its weekly rally to just under 45% as the team rolled out a cluster of privacy, AI, and scalability announcements between May 20 and May 22. The token's jump outpaces gains from Worldcoin's 12% and Venice Token's 8% over the same period, according to CoinGecko data. The moves come even as Bitcoin retraced from near $82,000 to $77,000 over the past week. The sharp price move is partly attributable to capital...

    NewsMarkets
    4 min read
    Akash Girimath
  • Hyperliquid. Image: Decrypt/Hyperliquid

    HYPE Jumps Double Digits as Hyperliquid ETFs Add $25.5M

    Hyperliquid's sustained uptrend continued into Thursday, as the decentralized exchange's token surged to an intraday high of $58.97. HYPE is currently trading at $57.20, up 15.3% on the day according to CoinGecko data. Its explosive gains outpaced those of Zcash (12%) and Worldcoin (7%), and comes amid renewed institutional interest. The newly launched Hyperliquid ETFs logged $25.5 million in net buying on Wednesday. That figure is 17 times higher than the token's daily Assistance Fund burn of...

    NewsMarkets
    3 min read
    Akash Girimath
  • Hyperliquid. Image: Decrypt

    HYPE Surges 101% This Year: What’s Driving Hyperliquid’s Growth?

    Hyperliquid's native token HYPE has surged 101% year-to-date while Bitcoin is down 12% over the same period, highlighting a decoupling that Wall Street is starting to pay close attention to. HYPE’s run looks set to continue, with users of prediction market Myriad, owned by Decrypt's parent company Dastan, seeing an 85% chance the token reaches $52 in May, up from just 14% on May 15. The token is currently trading at $51.26, less than 2% shy of the target figure, per CoinGecko data. HYPE’s diver...

    NewsCoins
    4 min read
    Akash Girimath
  • Bitcoin ETF. Image: Shutterstock/Decrypt

    Bitcoin ETFs Shed $649M in a Day as Long-Term BTC Holders ‘Limit Downside Potential’

    Spot Bitcoin ETFs are taking a beating, shedding another $648.64 million on Monday following last week’s $1 billion outflows, according to SoSoValue. BlackRock’s IBIT led Monday’s outflows with $448 million. It was followed by ARK Invest and 21Shares’ $110 million and Fidelity’s $63 million outflows. Bitcoin dropped 6.7% from $81,700 last Thursday to a weekly low of $76,201, according to CoinGecko data. It is down 0.7% over the past 24 hours and is currently trading at around $76,680. Agne Ling...

    NewsMarkets
    3 min read
    Akash Girimath
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