Bitcoin fell below $80,000 again on Tuesday as markets digested a sharp upside surprise in U.S. inflation data. April core PPI rose 1.0% month over month, the strongest reading since March 2022. Key market takeaways: - BTC briefly slipped under $80,000. - BTC and ETH spot ETFs recorded $364 million in combined net outflows on May 12. - Implied odds of a Fed rate hike are rising. - Volatility remains compressed. Investors are watching for the next clear catalyst, including potential Trump–Xi talks and Thursday's CLARITY Act markup. Price action is orderly for now, but macro pressure is building.

Bitcoin's latest rally has lost momentum as traders lock in gains and demand from the U.S. market softens, according to CryptoQuant.

Bitcoin dropped below the $80,000 mark as selling pressure picked up across crypto markets. The token was last seen around $79,650 over the past 24 hours, with derivatives positioning unwinding rapidly. Data show $158.53 million in crypto positions were liquidated in the last day. Long liquidations accounted for $142.59 million, while shorts totaled $15.93 million. Longs made up about 89.9% of the wipeout, pointing to a sharp wave of forced selling. Risk sentiment weakened alongside the price action. The widely watched Fear and Greed Index fell to 42, placing the market in the "Fear" zone. It stood at 49 ("Neutral") a day earlier. Last month's reading of 21 signaled "Extreme Fear." On-chain indicators, though, suggest Bitcoin has not fully broken its longer-term uptrend structure. Realized Price sits around $54,300, a proxy for the market's average cost basis. With spot still above that level, long-term holder cost bases continue to represent a key support area. Bitcoin's MVRV ratio is estimated at 1.48. Historically, readings above 3.7 have been associated with overvaluation and bubble risk, while levels below 1 tend to align with macro bottoms. The current level indicates the market remains well below overheated conditions seen in prior cycles. Net Unrealized Profit/Loss (NUPL) stands at 0.33, suggesting many investors remain in profit, though conditions do not yet resemble a phase of "excessive euphoria." This is not investment advice.

Metaplanet said its first-quarter loss widened to $725 million (¥114.5 billion), driven mainly by valuation declines across its assets, including Bitcoin, according to CoinDesk. The Tokyo-based firm posted a $31 million (¥5 billion) loss a year earlier. As of March 31, the company increased its Bitcoin position by 5,075 coins, up 14.5% from the prior quarter. With Bitcoin recently trading around $79,300, Metaplanet holds 40,177 BTC valued at about $3.18 billion. Metaplanet began accumulating Bitcoin in April 2024 and has since emerged as a major corporate holder. Like other companies pursuing a Bitcoin-buying strategy, it has faced pressure after Bitcoin retreated from last year's record high. Shares ended Wednesday at ¥327.00, Yahoo Finance data shows. The stock is up 5.8% over the past month alongside Bitcoin holding near $80,000, though it remains down 45% year over year. The company said its shareholder base has expanded to about 250,000, up from 63,600 last year. Metaplanet, once primarily focused on hotel operations, now generates most of its revenue from selling Bitcoin options contracts. That segment produced $15.8 million (¥2.5 billion) in Q1, up from $4.8 million (¥770 million) in the same period last year. CEO Simon Grovich said the company's priorities are to "continue firmly and patiently solidifying our position in the Bitcoin space" and to build services and businesses on top of that foundation. Grovich wrote on X that Metaplanet is developing a preferred share instrument similar to STRC, a floating-rate product introduced by Michael Saylor's bitcoin-focused firm, as a potential funding source. He also said the dividend-paying products "MARS" and "MERCURY" have not launched yet. Unveiled in November, the rollout has taken "longer than initially anticipated," though he said the company remains committed to bringing them to market. Grovich added that, while STRC pays dividends monthly, Japanese listed companies typically pay dividends once or twice per year, and the designs of MARS and MERCURY are being adjusted to fit local market conventions.

Metaplanet said first-quarter FY2026 revenue climbed to ¥3.08 billion, a 251% increase from a year earlier, as it continued to scale up its Bitcoin treasury strategy. CEO Simon Gerovich shared results showing operating profit rose 282.5% year over year to ¥2.27 billion. The company reported a 73.6% operating margin and a 2.8% BTC yield for the quarter. Metaplanet still recorded a net loss of ¥114.5 million, attributing the result to noncash Bitcoin valuation adjustments linked to BTC price moves. The update underscores how accounting treatment can skew reported earnings for Bitcoin treasury companies. Metaplanet previously posted an FY2025 net loss of about ¥95 billion, largely driven by a ¥102.2 billion noncash Bitcoin markdown.

Japan's Metaplanet posted a net loss of $725.6 million for Q1 2026, entirely due to a $737 million noncash impairment tied to its Bitcoin holdings after bitcoin:native fell 24% over the quarter. Underlying operations showed strong momentum. Revenue jumped 251% year on year to $19.5 million, and operating margin reached 73.6%, led by the firm's Bitcoin Income Generation options strategy. Metaplanet said it did not sell any Bitcoin during the period. The company added 5,075 BTC at an average price near $79,000, lifting total holdings to 40,177 BTC. It now ranks as the world's third-largest publicly listed Bitcoin holder, behind Strategy and Twenty One Capital. Metaplanet's Tokyo-listed shares fell 3.82% following the release.

A transfer of 774 BTC, valued at 61,569,951 USD, was sent from FalconX to an unidentified wallet.

Square said Tuesday that 1 million merchants in the US can now accept Bitcoin (BTC) payments through its point-of-sale hardware, with a new seller enrolled about every eight seconds. The service uses the Lightning Network, while settlements can optionally be converted to US dollars on the backend. Parent company Block will cover all processing fees through 2026. Merchants can also convert up to 50% of their daily sales proceeds into BTC directly from the Square Dashboard. Block also reported Q1 proof-of-reserves holdings of 28,355 BTC, valued at about $2.2 billion.

Metaplanet reported a steep quarterly loss after a slide in Bitcoin's price drove large unrealized valuation write-downs on its crypto treasury, even as its core businesses delivered sharp growth. In its fiscal 2026 first-quarter filing, the Japanese investment firm said it booked a net loss of 114.5 billion yen. The result was primarily tied to mark-to-market accounting on its Bitcoin holdings near quarter-end, with unrealized Bitcoin valuation losses totaling about 116.4 billion yen. Operationally, performance strengthened. Revenue rose 251.1% year over year to 3.08 billion yen, while operating profit increased 282.5% to 2.3 billion yen. The company cited Bitcoin-related income strategies and its hotel operations as key contributors. Metaplanet also continued to expand its Bitcoin position. It added 5,075 BTC during the quarter, taking total holdings to 40,177 BTC as of March 31. The company said this places it among the largest corporate Bitcoin holders globally. In Japan, Metaplanet reportedly accounts for nearly 87% of Bitcoin held by publicly listed companies as of May 2026. Globally, it trails only Strategy and Twenty One Capital by corporate Bitcoin holdings. Despite the paper loss, Metaplanet reiterated that its accumulation plan remains intact, describing Bitcoin as a decentralized monetary asset and prioritizing long-term treasury growth over short-term price swings. The company said it intends to fund additional purchases through debt issuance and equity fundraising. Metaplanet previously arranged a $500 million Bitcoin-backed credit facility, with about $302 million drawn as of May 13. Management kept its fiscal 2026 guidance unchanged, projecting annual revenue of 16 billion yen and operating profit of 11.4 billion yen. The results underscore the balance-sheet volatility that can come with aggressive corporate Bitcoin strategies, even as Metaplanet continues to position recent market weakness as a temporary headwind to its longer-term plan.