Crypto Market Rises as Stocks Fall, 30-Year Yield Hits 5.19%

On May 20 the total crypto market capitalization increased 0.28% to $2.54 trillion as some capital moved out of equities. The S&P 500 closed at 7,353 on May 19, down 0.67%. The U.S. 30-year Treasury yield rose to 5.19% on May 19, the highest level since July 2007.

The market had fallen from a May 9 high of $2.72 trillion to about $2.51 trillion before the modest rebound. The $2.51 trillion level has acted as a floor for an ascending channel in place since late March.

Bitcoin traded near $77,106 and was resting on two common trend indicators. The 50-day exponential moving average was near $76,740 and the 100-day exponential moving average near $76,859. A daily close above $80,192 would mark a move above the recent 0.236 Fibonacci retracement. A daily close below $75,962 would open a path toward the $70,500 area.

Algorand rose roughly 7% to $0.1158 on increased volume. Price structure shows a head-and-shoulders formation with a head at $0.1397 and a neckline at $0.1050. A right shoulder has formed near the 0.618 Fibonacci level at $0.1153 with lower volume than earlier moves. A failure to reclaim $0.1397 would leave $0.1086 as the next nearer support and a decisive break below the $0.1050 neckline would point to a measured target near $0.0793.

Security and regulatory developments also affected markets. AI-driven trading platform Bankr confirmed an attacker accessed 14 wallets, paused transactions and said it will reimburse affected users. Japan’s Financial Services Agency finalized rules that allow foreign trust-type stablecoins to be used in the country’s payment system starting June 1, 2026, enabling tokens such as USDC to operate in that framework.

If the $2.51 trillion floor holds and the market reclaims $2.62 trillion, the existing upward channel would remain with prior highs of $2.72 trillion and $2.81 trillion in view. A sustained break below $2.51 trillion would expose a lower target near $2.23 trillion.