Bitcoin spot trading volume has dropped sharply across major exchanges, with an 81% decline from October 2025 levels cited in a Cryptoquant analysis dated May 26. Binance volume fell from $198.6 billion to $36.4 billion, while Gate.io dropped 79.6% and Bybit declined 66%. The report argues the slowdown resembles late-2023 conditions and could indicate weakening selling pressure as traders watch for participation to return.

On May 26, 2026, a single dark-pool block sale of over 29 million shares of BlackRock's iShares Bitcoin Trust (IBIT) was reported at $43.16 per share, a transaction valued at $1.3 billion. Bitcoin then dropped 1.45% from $77,870 to $76,721 in about 10 minutes and later printed a 24-hour low of $75,600 as U.S. spot Bitcoin ETFs posted $333 million in net outflows for the session.

Bitcoin is flashing a monthly logarithmic MACD histogram pattern that has appeared near multiple cycle lows, suggesting the current pullback could be nearing its final phase. The signal hinges on two straight months of lighter red histogram bars, but May has not closed and BTC remains below $76,000 after failing to hold the $80,000 area. Some analysts say the setup could still allow a drop under $50,000 before a bottom is confirmed.

Pine Analytics argues Strategy's preferred stock STRC can create a largely one-way bid for Bitcoin because selling pressure is expressed in the equity market rather than directly through BTC redemptions. The firm said STRC's ATM sales raised $1.18 billion in March 9-15, 2026 to buy 17,994 BTC at an average $70,946, versus about $763 million of net inflows across all 12 US spot Bitcoin ETFs that week. It added that STRC's volatility and its ability to trade at or above the $100 par level can determine how much new issuance occurs and, in turn, how much BTC gets purchased.

Glassnode analysis indicates that around 6.04 million BTC—nearly 30% of total supply—could be theoretically vulnerable if future quantum computing can defeat today’s cryptography. The exposure is tied to coins whose public keys are already visible on-chain, including about 4.12 million BTC linked to address reuse and older custody practices, plus more than 1.6 million BTC held by centralized exchanges in potentially exposed addresses.

As bitcoin fell about 2.8% over the past seven days and touched a weekly low of $74,530, multiple long-inactive wallets shifted older holdings. On May 26, a 2014-era wallet moved 103.96 BTC worth $7.8 million at block height 951160, with at least 53.96 BTC later routed to Coinbase. Separate 2016 and 2017 wallets also transferred 46.85468400 BTC into Bech32 addresses now valued at $2.16 million and $1.88 million.

A Bitcoin whale bought 873.29 BTC worth $66.24 million from OKX as BTC remained under heavy selling pressure. At press time, Bitcoin traded at $75,882, down 1.65% on the day, after slipping below the $77k EMA and the $76k MA. Market metrics showed reduced whale sell-side activity, but broader selling kept downside risks in focus, with $77,839 and $74k highlighted as key levels.

A New York man identified as Noah Doe and two corporate entities sued “John Does 1–39,069” in the Supreme Court of the State of New York, seeking a declaration that they own 39,069 long-inactive digital wallets and the cryptocurrency inside, described as 3.8 million BTC. The filing says Doe located wallets with no activity for at least five years, then used OP_RETURN notices and other outreach; 424 owners signaled on-chain that their funds were not abandoned while the remaining wallets did not respond.