Nvidia Earnings, SpaceX BTC, NEAR Rally Lift Crypto Cap

The total crypto market cap reached $2.57 trillion on May 22, rising $4.93 billion, or 0.19%. The S&P 500 closed 0.17% higher on May 21 amid investor appetite for AI-related assets following Nvidia’s earnings report earlier in the week.

SpaceX disclosed in its IPO filing that it holds 18,712 BTC, valued at about $1.29 billion at quarter-end. That figure exceeded prior estimates from blockchain trackers and represents the largest corporate Bitcoin holding reported in the filing.

Bitcoin traded at $77,699 on May 22, up 0.20% for the session. Short-term momentum indicators showed the 50-day exponential moving average at $76,821 and the 100-day EMA at $76,896, placing the two averages close together. Immediate resistance is at $80,195, which aligns with the 0.236 Fibonacci level, and the 20-day EMA is at $78,321. Other price levels noted by traders include $82,802 and the 200-day EMA near $81,642, with higher zones at $84,910 and $87,017. A daily close below $75,980 would mark a break of recent higher lows.

NEAR Protocol led top-100 gainers, rising 21% to $2.10 after a breakout from a rising parallel channel that had contained price action since February. The rally followed NEAR AI’s May 19 release of an automatic personally identifiable information anonymization feature that removes sensitive data from prompts before they reach external models. NEAR AI posted, “your real passwords, API keys, and emails never leave your machine.” The breakout occurred on 14.42 million NEAR in volume. Technical projections from the breakout point point to a measured target near $2.55; a close above $2.20 would be required to clear the next resistance. Support levels are at $1.92, $1.82 and $1.74.

Market structure places a $2.60 trillion level as a decision point. A daily close above $2.60 trillion would mirror the May 4 setup when the index cleared that level and moved toward $2.72 trillion. The $2.47 trillion level has acted as a multi-week floor since April 19 and sits at the lower boundary of the current consolidation band.

Additional industry data released on May 22 showed crypto open interest in perpetual futures more than 50% below its October 2025 peak, indicating lower leverage in futures markets relative to that high. On-chain analytics firm Glassnode estimated roughly 6.04 million BTC are exposed to potential future quantum-computing risks, worth roughly $500 billion at current prices. Cardano founder Charles Hoskinson warned that the project’s research lab could close if a community proposal to allocate 32.9 million ADA does not pass in a vote scheduled for June 8.

Market participants will monitor whether the total market cap can close above $2.60 trillion and whether Bitcoin’s EMA levels converge into a sustained crossover. NEAR’s privacy tool release and SpaceX’s disclosed BTC holding were among the protocol and corporate developments noted by investors and traders on May 22.