Bitcoin News
By Julie Binoche
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Unrealized Profits Are Piling Up. Here's where it gets tricky. On May 5, unrealized profits among traders hit 17.
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US Demand Isn't Showing Up. The Coinbase Bitcoin price premium turned negative in late April and stayed there as Bitcoin…
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Where Bitcoin Might Land If It Breaks Down. So what happens if resistance wins? CryptoQuant puts the key on-chain support near $70,000.
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Bitcoin ran straight into a wall. After a brutal stretch of selling pressure earlier this spring, the coin clawed back hard — only to stall at a level that's tripped up bulls…
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Julio Moreno, research head at CryptoQuant, flagged the problem in a report titled "Wall of Resistance: Bitcoin Tests the 200-Day MA.
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Back in March 2022, Bitcoin staged a 43% rally before slamming into the same moving average. It didn't hold. Price rolled over after that.
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Here's where it gets tricky. On May 5, unrealized profits among traders hit 17.7% — the highest reading since June 2025. That's a lot of paper gains sitting on the table.
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It doesn't guarantee a selloff. But it raises the odds. Holders who bought lower are now in comfortable profit territory, and the closer Bitcoin gets to $82.
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Realized profit data backs that up. On May 4, daily realized profits hit 14,600 BTC. That's a big number.
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The Coinbase Bitcoin price premium turned negative in late April and stayed there as Bitcoin pushed toward $80,000. That's a problem.
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Read also: Bitcoin Drops Below $78,500 as Bears Tighten Grip on Price Action
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Spot demand has improved slightly, but it's still negative overall. CryptoQuant tracked a contraction from minus 91,000 BTC in April to minus 11,000 BTC more recently.
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That's a fragile foundation. Perpetual futures can unwind fast. Genuine spot demand is stickier — it tends to provide more durable support for a rally.
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Moreno's report puts it plainly: speculative futures positions are outweighing spot buying, and that's contributing to the rally's fragility.
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So what happens if resistance wins? CryptoQuant puts the key on-chain support near $70,000. The specific level they're watching is the Traders' On-chain Realized Price —…
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