Today in crypto: Nasdaq is aiming to move as possible on its tokenized stocks proposal, 1.75 million HYPE tokens unlocked on Hyperliquid token generation anniversary, Bitcoin may be forming a local bottom as RSI nears oversold and whales open longs.
Nasdaq crypto chief pledges to ‘move as fast as we can’ on tokenized stocks
The US Nasdaq stock exchange is making SEC approval of its proposal to offer tokenized versions of stocks listed on the exchange a top priority, according to the exchange’s crypto chief.
“We’ll just move as fast as we can,” Nasdaq’s head of digital assets strategy, Matt Savarese, said during an interview with CNBC on Thursday, when asked whether the SEC could approve the proposal this year.
“I think what we have to really evaluate where the public comments come back in and then answer and respond to the SEC questions as they come through,” Savarese said. “We hope to kind of work with them as quickly as possible,” Savarese said.
1.75 million HYPE tokens unlocked on Hyperliquid token generation anniversary
The team behind the Hyperliquid decentralized exchange (DEX) provided clarity on the 1.75 million HYPE token unlock on Saturday, valued at over $60.4 million at the time of this writing.
Saturday’s token unlock was previously disclosed as part of HYPE’s vesting schedule, according to pseudonymous Hyperliquid developer iliensinc. He said:
“As announced a year ago, Hyperliquid Labs' tokens unlocked on Nov 29, 2025. Different team members have different vesting schedules and can choose what to do with their vested tokens. Today, 1.75 million tokens were distributed to different team members.”
The clarification came in response to fears that the token unlocks would spark a wave of selling pressure that would negatively impact the HYPE token price, which fell by about 4.6% on Saturday.
Bitcoin forms short-term bottom, $100K relief rally in sight: Analyst
Bitcoin may be carving out a short-term bottom after weeks of heavy selling, with one market analyst arguing that conditions are in place for a relief rally toward the $100,000–$110,000 range.
In a recent video, trader Mister Crypto said Bitcoin (BTC)’s short-term structure shows signs of stabilization following what he described as “capitulation” across the market. He claimed that indicators tied to trader behavior suggest that large players have begun opening new long positions despite the sentiment plunging into extreme fear territory, a mix that has historically preceded bounces during downturns.
One of the main technical signals cited is the Bitcoin Relative Strength Index (RSI) on the weekly chart, which is approaching the 30 level. “We have bottomed out for Bitcoin right here. We have been reaching the 30 level. Boom,” he said.
The analyst noted that, in past cycles, this zone has coincided closely with market bottoms. While he cautioned that this does not guarantee the start of a new bull run, he said the current setup often signals at least a temporary reversal.
