Bitcoin stalls below 200-day MA as profit-taking rises
Bitcoin traded near $79,300 after failing to clear its 200-day moving average near $82,430; traders booked about 14,600 BTC in profits and unrealized gains reached 17.7%.
Bitcoin traded below its 200-day moving average on Wednesday, changing hands near $79,300 and roughly 3.5% under that average of about $82,430. The price slipped back after a short rally stalled at the moving average.
On-chain analytics firm CryptoQuant reported that traders realized about 14,600 BTC in profits in a single day last week, worth roughly $1.16 billion at current prices. CryptoQuant called that the largest daily profit-taking haul since December 2025.
CryptoQuant noted unrealized profit margins reached 17.7% on May 5, the highest reading since June 2025. The firm wrote: “Historically, this anticipates lower prices as traders start to sell.” It also observed that the margin levels mirror those seen in March 2022, when Bitcoin last tested the 200-day moving average before a later decline.
The Coinbase Premium, the price gap between Coinbase and Binance often used to gauge U.S. spot demand, turned negative at the end of April and has remained below zero.
Tokyo-based investor Metaplanet reported a first-quarter loss of ¥114.5 billion, about $725 million, attribution linked to a decrease in the value of its Bitcoin holdings. During the quarter ended March 31, Metaplanet added 5,075 BTC, bringing its total to 40,177 BTC, valued at about $3.18 billion at the recent trading level near $79,300.
CryptoQuant identified a traders’ on-chain realized price near $70,000 and said that level has acted as a resistance-turned-support band in past cycles. The firm wrote: “Bitcoin may find support around $70K, the traders’ on-chain realized price, if the price correction continues.”
Over the last 24 hours Bitcoin has fallen about 1.6% and about 2.5% over the past week. Market participants are monitoring on-chain profit metrics, exchange flows, the Coinbase Premium and price relative to realized-cost bands and the 200-day moving average for near-term activity.
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