Traders cashed out nearly $1.2 billion worth of Bitcoin in a single day last week — the biggest one-day realized profit since early December. On May 4, investors sold 14,600 Bitcoin as the price briefly touched $82,380, a level that aligns with Bitcoin's 200-day moving average. That line in the sand has historically acted as stiff resistance, and this time was no different.
The $1.2 billion profit day
The selling came after a six-week rally that lifted Bitcoin 37%, from around $66,000 in early April to that intraday high near $82,380. CryptoQuant flagged the move as a classic pattern: a selling spike during a bear market rally that has often marked a local price top. Unrealized profit margins among traders hit 17.7% on May 5 — the highest since June 2025. The last time margins were that high while Bitcoin tested the 200-day MA was March 2022, right before a prolonged downtrend kicked in.
Inflation report knocks price back
The macro picture didn't help. US producer prices rose 1.4% in April, the steepest increase in four years. That inflation jolt sent Bitcoin down 2.3% in 24 hours, to around $79,250. The timing isn't great for bulls hoping to hold above $80,000. CryptoQuant sees the next major support at roughly $70,000 — the average price at which all existing Bitcoin last moved. If that level cracks, there's not much concrete support until well below.
What could turn the tide
Two catalysts stand out. Michaël van de Poppe said Bitcoin could quickly run to $90,000 if the US Senate advances the CLARITY Act. That bill would provide clearer regulatory ground for crypto — a signal that could draw sidelined money back in. Meanwhile, Arthur Hayes of Maelstrom argued a return to Bitcoin's all-time high of $126,000 is nearly inevitable, driven by relentless money printing. But that's a longer view. For now, the market's stuck between a recent profit-taking ceiling and an inflation headwind. The next move likely hinges on whether the Senate actually moves the bill — or if sellers test that $70,000 floor first.
