BitGo’s headline revenue figure doubled year-over-year to $3.8 billion, but a 
Bitcoin price decline and IPO-related costs pushed net losses to $60.7 million 
in the first quarter.

BitGo posts wider Q1 loss despite revenue more than doubling

Traders cashed out nearly $1.2 billion worth of Bitcoin in a single day last 
week — a sign that the recent recovery may be running out of steam. Related 
Reading: XRP Bulls Gain Momentum As ETF Inflows Reach Multi-Month High On May 
4, investors sold 14,600 Bitcoin, pushing daily realized profits to their 
highest point since early December. According to CryptoQuant, that kind of 
selling spike during a bear market rally has historically marked a local price 
top. A Rally Under Pressure Bitcoin climbed roughly 37% over six weeks, rising 
from $66,000 in early April to briefly touch $82,380. That level lines up with 
the cryptocurrency&#8217;s 200-day moving average — a technical marker that proved 
to be a wall during the 2022 bear market. Back then, Bitcoin hit that same 
average in March before sliding further into a prolonged decline. 
CryptoQuant&#8217;s latest research draws a direct line between that episode and 
today&#8217;s setup. Unrealized profits among traders also spiked during the recent 
run-up. On May 5, profit margins reached over 17%, the highest reading since 
June of last year. Bitcoin traders’ unrealized profit margins hit 17.7%, the 
highest since June 2025. The last time margins reached these levels while 
Bitcoin tested the 200-day MA was March 2022, just before the downtrend 
resumed. pic.twitter.com/Zgfe9jFTiv — CryptoQuant.com (@cryptoquant_com) May 
13, 2026 Data shows that figure mirrors conditions last seen in March 2022 — 
right before Bitcoin resumed its fall. The combination of profit-taking and a 
historically significant resistance level has prompted CryptoQuant to flag the 
possibility of a trend reversal. Inflation Data Adds To The Pressure Outside 
the crypto market, broader economic signals are adding to the uncertainty. The 
US Labor Department reported that producer prices rose 1.4% in April, the 
steepest increase in four years. Bitcoin has grown more sensitive to US 
economic data as Wall Street adoption has expanded, and the inflation report 
pushed the price down 2.3% in 24 hours to around $79,250. If selling pressure 
does push Bitcoin lower, CryptoQuant puts the next major support around 
$70,000. That level reflects the average price at which all Bitcoin was last 
transacted and has historically shifted from resistance to support during bear 
markets. At that point, short-term traders would have little unrealized profit 
left, removing much of the incentive to sell. Bulls Still See A Different Path 
Not everyone reads the charts the same way. MN Capital founder Michaël van de 
Poppe said Bitcoin could make a fast move to $90,000 if the US Senate advances 
the CLARITY Act, a long-awaited piece of crypto legislation. This can 
literally go both ways. If this continues to grind upwards, with the upcoming 
CLARITY Act tomorrow, I would assume we might see a fast move to $90K in a 
matter of days for #Bitcoin. The build-up is sincerely strong. 
pic.twitter.com/rYkwa7lWYF — Michaël van de Poppe (@CryptoMichNL) May 13, 2026 
Related Reading: Strategy Boosts Bitcoin Position With Fresh $206M STRC 
Injection A return to Bitcoin’s all-time high of $126,000 is seen as almost 
inevitable, according to Maelstrom investment chief Arthur Hayes Hayes pointed 
to money printing pressures linked to the Iran conflict and the escalating US- 
China race in artificial intelligence as key catalysts. Both views reflect the 
sharp divide among market watchers as Bitcoin sits at a critical juncture. 
Featured image from Mint, chart from TradingView

Bitcoin Faces Major Test As 37% Recovery Collides With Bear Resistance

Rising inflation pressures could prolong higher interest rates, challenging 
tech valuations and potentially cooling global market optimism.
The post NASDAQ 100 futures fall 1% as US April CPI meets expectations 
appeared first on Crypto Briefing.

NASDAQ 100 futures fall 1% as US April CPI meets expectations

The Bank of England has begun reconsidering parts of its proposed stablecoin 
framework after digital asset firms warned that strict reserve rules and 
ownership caps could make pound-backed tokens difficult to use at scale. 
According to the Financial Times, Bank…

Bank of England weighs softer rules for UK stablecoin issuers

The Bank of England&#8217;s policy shift may enhance the UK&#8217;s competitive edge in 
digital finance, fostering innovation and attracting global crypto firms.
The post Bank of England ready to scrap £20,000 stablecoin ownership cap after 
backlash appeared first on Crypto Briefing.

Bank of England ready to scrap £20,000 stablecoin ownership cap after backlash

Ripple’s David Schwartz warned XRP users about fake airdrops, giveaways and 
impersonators as scams targeting XRPL holders increase online.

Cryptocurrency price in USD

Market Overview