Overview
- Bitcoin, which traded near $79,200 on Thursday after losing the $80,000 level, again failed to clear the $82,000–$82,500 zone that tracks the widely watched 200‑day moving averages.
- On-chain analytics from CryptoQuant flagged elevated unrealized profits and the largest recent profit-taking day at about 14,600 BTC, a setup that often fuels extra selling.
- Derivatives risk has built up with leverage skewed long, and analysts highlight possible long wipeouts clustered near $75,000, $73,000 and $70,000 if downside accelerates.
- U.S. spot Bitcoin ETFs saw $233 million in net outflows on Tuesday, and traders are eyeing the Senate Banking Committee’s Clarity Act markup on Thursday as a potential policy catalyst.
- Ethereum sits below its 50‑day EMA near the $2,200 area as exchange reserves rose by 623,000 ETH and large holders sold about 390,000 ETH since May 7, while ETH ETFs posted $130.6 million of outflows and futures open interest hit a record.