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

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

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