Bitcoin's Recovery Faces Uncertain Future Amid Selling Pressure

Bitcoin's recent price surge has some investors cashing out, with nearly $1.2 billion worth of the cryptocurrency sold in a single day last week. This trend is being closely watched by market analysts, who are drawing parallels between this situation and previous bear markets.

According to CryptoQuant, selling spikes during bull runs have historically marked local price tops. In May 2026, Bitcoin's price rose to around $82,380, which aligns with its 200-day moving average – a key technical indicator. The last time the cryptocurrency reached this level was in March 2022, when it began a prolonged decline.

Profit margins among traders have also spiked during the recent run-up, reaching over 17% on May 5. This mirrors conditions seen in March 2022, just before Bitcoin resumed its fall. If selling pressure continues to build, CryptoQuant predicts that Bitcoin could drop to around $70,000 – a level that has historically shifted from resistance to support.