Autor Cointelegraph by Nancy Lubale

Bitcoin (BTC) has fallen 6.5% from its recent high above $82,000, as a bearish technical structure, weakening demand, and increasing sell pressure now point to the risk of further losses ahead.Key takeaways:BTC price risks a drop toward $72,000 as bearish momentum strengthens on higher time frames.Binance BTC inflows tripled in under two weeks, signaling rising sell pressure and weaker investor confidence in the market.Bitcoin’s apparent demand fell to 2026 lows, raising risks of deeper losses if spot demand fails to recover in the coming weeks.Bitcoin bears eye BTC price drop to $72,000Bitcoin’s failure to hold above key support levels suggested buyers were unable to sustain the upward momentum.“$BTC has officially lost the 100 & 50d EMA,” analyst CryptoJelleNL said in a recent post on X, adding:“The local market structure is back to bearish.” “Bitcoin lost its bullish impulse exactly when macro sharply deteriorated,” fellow analyst Axel Adler Jr said in a Sunday X post, adding:“The market looks risk-off, and every BTC bounce remains unconfirmed.”The rejection at $82,000 coincided with the upper trend line of an ascending parallel channel, which has capped BTC’s price action since early February.The chart below shows that every time the price has been rejected from this trend line, it has lost between 11%-14% of its value, dropping toward the lower support trend line.If this price behaviour continues, Bitcoin will fall toward the lower boundary of the channel at $72,000, which is 13% below the upper boundary and a 7% drop from the current price.BTC/USD daily chart. Source: Cointelegraph/TradingViewMeanwhile, the relative strength index has dropped to 48 from near overbought conditions at 69 on May 6, suggesting increasing downward momentum.“Bitcoin briefly dipped as low as $74.1K, sweeping the May VCPR liquidity zone before seeing a quick reaction,” trader and analyst Anup Dhungana said in his latest analysis on X, adding:“Losing this support area could send $BTC swiftly back toward the $70K region, while holding it keeps the door open for another recovery attempt.”MN Capital founder Michael van de Poppe shared a chart showing that if the “crucial” support zone between $75,000 and $76,000 is lost, the price could retreat toward the next lines of defense at $74,000 and $71,400, before potentially retesting the 2026 lows at $60,000. On the other hand, Van de Poppe said BTC/USD could break to “higher grounds” above $80,000 if “there’s going to be a peace deal in the Middle East” in the coming days.BTC/USD daily chart. Source: X/Michael van de Poppe As Cointelegraph reported, the $76,000 level is the critical level to watch, as a close below it would increase the risk of a drop to the multi-month support line around $72,000.Bitcoin apparent demand hits 2026 lowsBitcoin’s “warning is flashing” after its Risk Index re-entered “high-risk” territory, according to private wealth manager Swissblock.“That doesn’t confirm breakdown yet,” Swissblock said in a recent X post, adding:“But it confirms that selling pressure is no longer being fully absorbed.”Bitcoin risk index. Source: SwissblockThat high-risk signal also aligns with increasing selling pressure on exchanges, with Binance recording nearly 10 straight days of net BTC inflows. The weekly average inflows rose to 1,190 BTC from 378 BTC on May 16, marking a more than threefold increase in less than two weeks.“When inflows become dominant and consistent on a platform like Binance, this is traditionally interpreted as a potential sell signal,” CryptoQuant analyst Darkfost said in a QuickTake note on Monday, adding:“Holders transferring their BTC to an exchange most often do so with the intent to sell, whether it be profit taking, reducing exposure, or a more defensive repositioning.”Binance exchange’s Bitcoin net flow. Source: CryptoQuantMeanwhile, Bitcoin’s apparent demand has fallen to around -147,000 BTC, its most negative level since the start of the year and the weakest reading since December 2025.“This development suggests that demand continues to gradually contract,” Darkfost said in an X post on Sunday, adding:“Without a meaningful recovery in spot demand, it becomes difficult to imagine Bitcoin sustaining a durable rally.”Bitcoin’s apparent demand. Source: CryptoQuantThe last time this metric was this low was in December 2025, before another 33% drop to multi-year lows below $60,000 was reached on Feb. 6.As Cointelegraph reported, Bitcoin’s weakening demand and increasing spot ETF outflows have raised the risk of prolonged consolidation or a drop toward $65,000 in the short to medium term.

NEAR Protocol (NEAR) displayed strength on Friday, rising 34% over the last 24 hours to $2.32, leading artificial intelligence-based tokens in a rally fueled by NEAR’s network upgrades and NVIDIA’s bullish revenue forecast. NEAR is trading 50% higher than its price seven days ago and has gained a whopping 115% over the last 90 days.Key takeaways:NEAR price surged 50% in seven days, hitting six-month highs as AI crypto tokens rallied on strong market momentum.NEAR Protocol upgrades focused on AI, privacy and scaling boosted investor confidence and trading volume above $1 billion.A breakout from a multi-year wedge pattern puts $5.75 in focus if NEAR clears resistance between $2.60 and $3.NEAR price rallies to six-month highsData from TradingView shows that NEAR’s recovery began on Monday, rising 58% to a six-month high of $2.34 on Friday from a low of $1.48. Accompanying NEAR’s price growth is an uptick in its trading volume, which has increased by 190% to $1.15 billion over the last 24 hours, reinforcing the intensity of the buyers.NEAR/USD daily chart. Source: Cointelegraph/TradingViewThe altcoin’s jump above $2.30 triggered over $9.85 million in short liquidations, as those betting against the price were caught off guard.The gains come after NEAR Protocol announced of major upgrades focused on privacy, AI integration, and network scaling.Source: X/NEAR ProtocolAurora, the Ethereum-compatible scaling solution built on NEAR, also announced the update of its Aurora Intents Widget. The update integrated ADI Chain as a new entry point, enabling smoother cross-chain swaps, deposits, and application flows for users.Source: AuroraThese developments demonstrate ongoing technical progress within the NEAR Protocol ecosystem, potentially increasing demand for blockspace and the NEAR token.NEAR price rallies as AI tokens recoverNEAR is not the only AI-themed token outperforming the crypto market today. Other cryptocurrencies in the AI sector have witnessed impressive 24-hour gains, including Grass (GRASS), OpenServe (SERVE) and Artificial Superintelligence Alliance (FET), which have gained over 27%, 21% and 11% over the day, respectively.Performance of top AI tokens by market capitalization. Source: CoinMarketCapNotably, the surge in AI tokens has also been accompanied by an increase in their total market value. The market capitalization of AI and big data crypto projects and tokens has risen by 8% over the past 24 hours to $21.44 billion at the time of publication, reflecting renewed investor confidence in the sector.Market capitalization and volume of AI and big data tokens market. Source: CoinMarketCapBroader sector momentum was fueled by positive signals from Nvidia’s AI dominance and revenue forecasts. Nvidia, which maintains an 81–90% share of the AI accelerator market,  reported massive profits of approximately $81.6 billion in Q1 2026 and raised its projected revenue opportunity through 2027 to $1 trillion.Source: X/CointelegraphHistorically, Nvidia events have triggered strong rallies in NEAR price, as seen in February when the altcoin soared 58% following the company’s Q4 2025 earnings report. How high can NEAR price go?NEAR’s latest rally saw it break out of a multi-year falling wedge that has capped the price since late 2024.The NEAR/USD pair now faces stiff resistance at the $2.60-$3.0 supply zone, where major moving averages sit, as shown on the weekly chart below.A break above this level would clear the path toward the measured target of the wedge at $5.75, roughly 160% above the current price. The relative strength index has increased to 63, indicating increasing upward momentum.NEAR/USD weekly chart. Source: Cointelegraph/TradingViewIn an X post on Tuesday, MN Capital founder Michael van de Poppe said NEAR is displaying “one of the most bullish charts” in the market, adding that a continuation was in the cards as long as it held $1.40 as support.“The first real resistance zones for $NEAR are at $2 and $2.25-$2.50,” Van de Poppe said in a follow-up post on Thursday, adding “it’s clearly trending higher,” with the next target near $2.75.NEAR/USD daily chart. Source: X/Michael van de Poppe

XRP Ledger has seen a spike in new addresses over the last 24 hours, but overhead resistance at $1.40 kept the XRP (XRP) price in check.Key takeaways:XRP Ledger added 4,300 new wallets in 24 hours, marking the fourth-largest growth spike on the network in 2026.XRP price recovery may face resistance at $1.40, with a prolonged consolidation likely.XRP Ledger sees fourth-largest growth spike in 2026The XRP Ledger recorded one of its strongest growth surges of the year after adding 4,300 new wallets within 24 hours, the “fourth largest spike of 2026,” according to Santiment.Related: XRP price may explode to $15 amid ‘quiet accumulation,’ analyst claimsThe chart below shows that newly created XRP wallets increased to 4,300 on May 20, from about 2,500 on May 19. Similarly, daily active addresses increased to 43,520 from 32,000 over the same period.“XRP is seeing one of its largest network growth stretches of the year,” the market intelligence firm said in a Thursday post on X, adding: “Network growth is among the top leading signals to identify reversals.”XRP Ledger active addresses and network growth. Source: Santiment“When wallets rise like this, smart money pays attention,” analyst Amonyx commented, adding:“$XRP reversal signal?”Fellow analyst Niroshan682 said new wallet creation is often an “early signal of new network participation,” especially when it happens alongside growing institutional adoption and rising ETF inflows.US-based spot XRP ETFs held about 1.34% of the XRP total supply after this month’s inflows. About $107.3 million worth of XRP ETFs flowed in May so far, with the $8.8 million in net inflows on Thursday marking the 12th straight day of positive flows.This streak has pushed cumulative inflows to nearly $1.4 billion and assets under management (AUM) to $1.15 billion.Spot XRP ETF flows chart. Source: SoSoValueDespite these positive fundamentals, XRP/USD is down 1.5% over the last 24 hours, and remains 62% below its $3.66 multi-year high reached in July 2025. XRP faces stiff overhead resistanceXRP’s latest 21% rally from the local low at $1.27 reached on April 5 stalled at $1.55, coinciding with the upper limit of a range that has capped its price action since early February. Bulls must push the price above the $1.40-$1.55 resistance zone to confirm a breakout from consolidation. This area is also defined by the 50-day simple moving average (SMA), the 100-day SMA and the 100-day exponential moving average, as shown in the chart below.XRP/USD daily chart. Source: Cointelegraph/TradingViewAccording to XRP’s cost-basis distribution data, investors hold approximately 3.75 billion XRP at an average cost of $1.37-$1.45, creating a potential resistance zone. This concentration suggests many investors may sell at break-even, potentially stalling XRP’s upward momentum.XRP cost basis distribution chart. Source: GlassnodeAnother supply congestion zone is higher up at $1.68-$1.70, where investors bought approximately 3.8 billion XRP. This level coincides with the upper boundary of a falling wedge pattern, which is setting up the XRP/USD pair for a breakout, according to analyst Crypto Michael. Note that a weekly close above the wedge’s upper trend line could open the way for a rally toward the measured target at $3.52, about 50% above the current price. XRP/USD weekly chart. Source: Crypto Michael. As Cointelegraph reported, buyers will have to push XRP/USD above the multi-month trend line at $1.40 to signal a comeback, while a close above $1.61 would confirm a potential trend change. 

Bitcoin (BTC) has dropped nearly 7% from its local peak of $82,800, as several groups of wallet holders switched from accumulation to distribution. Data suggests that this distribution, combined with increasing realized losses, points to a potential shift in momentum.Key takeaways:Whale absorption of newly mined BTC supply drops to all-time lows below -150%.Bitcoin holders shift from accumulation to distribution after BTC price dropBitcoin realized losses surged above $600 million in a single day as BTC price fell to $76,000.Bitcoin whales absorbing at all-time lowsThe yearly absorption rate measures the amount of new BTC issued that has been absorbed by the market over the past year. Currently, the absorption rate by exchanges is improving while whales are losing coins at a historic pace.Notably, Bitcoin’s yearly absorption rate by exchanges has improved to -75 % from below -100% in April as inflows continue.Bitcoin yearly absorption rates. Source: GlassnodeThe chart above shows that a similar jump in the exchange absorption rate in January preceded a 38% BTC price decline to $60,000 from $98,000. While large holders (100–1,000+ BTC) are scooping up more than 150% the new issuance, the rate has dropped sharply since mid-April and is significantly below the record levels seen in November 2025.Meanwhile, the rate of accumulation among whales (entities holding more than 1,000 BTC) has dropped to -151%, its lowest in Bitcoin’s history.Bitcoin yearly absorption rates by whales and sharks. Source: GlassnodeThis marks a shift in institutional sentiment, particularly with heavy outflows from spot Bitcoin’s exchange-traded funds, reflecting a reduction in long-term conviction among large holders.All Bitcoin holder cohorts are “taking profits”Bitcoin investors went risk-off, distributing their BTC as the price dropped to $76,000.Glassnode’s Accumulation Trend Score (ATS) is near zero (light yellow), indicating that whales are selling BTC or not accumulating. Related: Bitcoin retakes $71K as US sends Iran 15-point ceasefire planThe drop in the trend score indicates a transition from accumulation to distribution across almost all cohorts. This shift mirrors a similar pattern observed in mid-January 2025, which aligned with Bitcoin’s drop to $60,000 in February. Bitcoin accumulation trend score. Source: GlassnodeAdditional data from Glassnode reveals a shift toward distribution or inactivity across all investor cohorts, as seen in the chart below.Bitcoin accumulation trend score by cohort. Source: X/GlassnodeThis is in contrast to Q4 2024, where broad cohort accumulation preceded a sustained rally that saw BTC/USD trade above $100,000 for the first time in history, fueled by the 2024 US Presidential elections.CryptoQuant analyst Woominkyu highlighted “continued selling pressure” from whales who sent more than 8,000 BTC to exchanges on Monday. “As Bitcoin rallied to a peak of $82,196, whales began sending coins back to exchanges,” the analyst said in a QuickTake note on Thursday, adding:“This is a classic sign of smart money selling into strength — taking profits while retail FOMO was building.”Bitcoin whale activity. Source: CryptoQuantBitcoin’s realized losses jump to $600 millionBitcoin’s latest correction triggered a sharp spike in realized losses. The losses by long-term holders (LTHs) reached $513.6 million on Tuesday, while losses by short-term holders (STHs) reached $101.8 million. The aggregate realized losses across all holders reached $616 million after Bitcoin dropped to $76,000 on Monday. This marked the highest single-day loss realization since March and an over 1,500% jump in less than two days, compared with $41.5 million on Sunday.Bitcoin realized losses by LTHs and STHs. Source: GlassnodeLTHs account for the bulk of the losses, while STH losses stay comparatively contained, indicating that the stress is largely on older buyers.As Cointelegraph reported, Bitcoin investors who have held their coins for over six months could sell near their entry price after extended drawdowns, creating strong overhead pressure that may stall Bitcoin’s recovery.

Demand for Bitcoin (BTC) has decreased sharply over the last few days as the price ran into overhead resistance above $80,000. Analysts say BTC’s inability to hold key support levels may be paving the way for a prolonged consolidation.Key takeaways:Bitcoin’s apparent demand fell to -3,138 BTC, its lowest level in four months.Weak spot activity and negative ETF flows pressure the BTC price below $80,000.Analysts warn that Bitcoin risks prolonged consolidation or a deeper correction if $78,000 is not broken.Bitcoin’s apparent demand has dropped to its lowest level since mid-January, as traders and investors adopted a risk-off approach due to geopolitical and macroeconomic uncertainties.Related: Bitcoin rallies through $77K despite spot BTC ETF outflows topping $2BCapriole Investment’s Bitcoin Apparent Demand metric shows that demand for Bitcoin has been negative since Dec. 22, 2025 and improved slightly in late February, before reversing sharply to -3,138 BTC on Thursday. Bitcoin’s apparent demand. Source: Capriole Investments“Bitcoin’s overall demand has flipped into net contraction,” CryptoQuant said in its latest Weekly Crypto report, adding:“Spot apparent demand is contracting at a slightly faster pace than in prior weeks.”Spot market activity has weakened in recent weeks, with the aggregate spot cumulative volume delta (CVD) across all exchanges “remaining negative into the recent pullback toward the high-$70K range,” Glassnode said in its latest Week On-chain newsletter, adding:“Despite Bitcoin remaining relatively resilient structurally, the latest spot positioning data suggests broad-based spot accumulation has yet to re-emerge.”Bitcoin spot CVD. Source: GlassnodeMeanwhile, US-based spot exchange-traded funds (ETFs) also turned net sellers, with the 30-day change in ETF holdings falling to its lowest level in nearly three months. This suggests that “outright spot demand is becoming less aggressive near the current range highs,” Glassnode added.US ETF AUM position change. Source: GlassnodeThe simultaneous deterioration across spot demand and ETF flows has “historically been more consistent with renewed price weakness than with stable consolidation,” CryptoQuant concluded.Bitcoin’s price is at an inflection pointBitcoin’s 38% rally to $82,800 from its $60,000 macro low marked a notable recovery above the true market mean, now sitting at $78,300.The true market mean is a price model that tracks the average acquisition cost of actively transacted Bitcoin supply and “historically serves as the dividing line between bear and bull market regimes, according to Glassnode.The onchain data provider said that reclaiming this level is a “necessary but not sufficient condition for a structural transition,” adding:“Conventionally, pre-bull market phases require weeks to months of sustained consolidation around this model before a credible regime shift can be confirmed.”Note that the price consolidated around the true market mean for over six months, between March and October 2021, before breaking into a 174% rally to its previous all-time high of $74,00 reached in March 2024.Bitcoin risk indicator. Source: GlassnodeGlassnode added: “Any deeper correction from current levels would therefore reframe the recent rally as a local top within the ongoing bear market, a structure that has recurred multiple times in prior cycles and remains the higher probability outcome until price demonstrates sustained follow-through.”Other analysts have highlighted weaknesses in Bitcoin’s market, including fading momentum, declining retail investor activity, aggressive selling in the futures markets and a weakening technical structure, putting BTC at risk of dropping to as low as $65,000 over the next few weeks.