Arthur Hayes said he has cut his Bitcoin price target from $500,000 to about $125,000 for a one-year horizon. He argued his framework is unchanged—BTC follows global fiat liquidity—but the speed of money creation has not matched what the earlier target would require. Hayes also described Bitcoin's Q1 2026 drop alongside AI/SaaS stocks as a liquidity warning tied to AI-driven deflation pressures.

Bitcoin continued to weaken after failing to hold $78,500, with BTC trading below $78,000 and the 100-hour simple moving average. Price printed a low at $76,561 and is consolidating, while resistance is seen around $77,700 and $78,650 and support levels include $76,500 and $75,800. The report also notes RSI is below 50 and hourly MACD remains in bearish territory.

Bitcoin extended its drop after failing to hold $82,000 on Thursday evening, falling to $76,650 on Bitstamp and erasing more than $5,000 from the peak. The selloff triggered over $660 million in liquidations over 24 hours, with more than $610 million occurring within roughly 1–2 hours as BTC slipped below $76,700.

Bitcoin traded near $78,180 on Sunday, down about 1.1% over 24 hours after briefly topping $82,000 following the US Senate Banking Committee's 15-9 passage of the Digital Asset Market CLARITY Act on May 14. The pullback coincided with April PPI showing inflation up 1.4%, $635 million in net spot Bitcoin ETF outflows on May 13, and roughly $77.95 million in long liquidations as price failed near the 200-day SMA around $82,270.

Bitcoin's drop below $77,000 triggered roughly $660 million in leveraged liquidations over the past 24 hours, with long positions taking most of the losses. The sell-off pushed BTC to an intraday low of $76,696 and wiped out 106,876 traders. In a concentrated 12-hour stretch, forced closures totaled over $618.04 million, while Binance accounted for 45% of liquidations and Bybit logged $104 million.

Analysts are debating whether Bitcoin could see another sharp May sell-off in 2026, echoing declines that followed US mid-term election years in 2018 and 2022. Bitcoin was around $76,900 at the time of writing, down 5.6% over the past seven days, as some warn of capitulation risks below $78,000 while others argue market structure changes may limit drawdowns.

Bitcoin (BTC) has experienced a sharp correction, erasing its mid-week gains and slipping below the critical $77,000 mark. After flirting with an $83,000 milestone just days ago, the world's leading cryptocurrency is facing a cocktail of macroeconomic pressures, intense geopolitical strain, and a massive wave of futures liquidations.

Bitcoin fell below $77,000 and traded around $76,851, after two Binance taker sell-volume surges above $1 billion hit the market. The daily RSI dropped to 44.64—its first reading under 50 since the February recovery began—while MA200 at $81,462 remained overhead and MA50 at $75,640 stood as the nearest support.