Bitcoin (BTC) retreated from the $81,000 area and slid toward a key daily support level at $76,285. The move does not appear to be the result of aggressive futures positioning being closed out. Derivatives data stayed steady. Open interest was about $25.977 billion on May 15 and roughly $26.180 billion on May 18, an increase of around $202 million (+0.78%). That points away from a large-scale unwind. Spot-market activity shows the clearer shift. The "Bitcoin: Price & Volume Spot, All Exchanges" metric indicates spot volume fell from 30,663.9 BTC on May 15 to 20,010.58 BTC on May 16 and 16,092.32 BTC on May 17, a 47.52% contraction from Friday through Sunday. Over the same period, BTC declined from $79,064.75 to $76,572.92, down about 3.15%. Spot volume rebounded to 37,817.49 BTC on May 18, but the bulk of the correction had already occurred. Flows to exchanges provide the strongest confirmation. "Bitcoin: Exchange Inflow (Total) All Exchanges" shows roughly 49,577 BTC moved onto exchanges between May 15 and May 17: 37,657.13 BTC on May 15, 6,283.88 BTC on May 16, and 5,636 BTC on May 17. The largest inflow coincided with the heaviest downside pressure, followed by smaller inflows and more limited declines. Large exchange inflows alongside a falling price are typically consistent with heightened selling pressure. The May 15 figure in particular suggests sizeable participants were active, though the key takeaway is simpler: a large amount of BTC hit exchanges during the period of greatest weakness. Overall, the data suggests BTC's drop was not driven by a major futures closeout. Instead, spot demand failed to absorb selling, with visible pressure reflected in exchange inflows. If BTC breaks below $76,285, the next notable area to watch is around $73,817, where another daily support level is located.

RT CoinDesk Podcast Network — Strategy purchased an additional $2 billion worth of Bitcoin. Hyperliquid has rolled out SpaceX-linked perpetual contracts. Former OpenAI researcher Leopold Aschenbrenner has also significantly increased positions tied to AI infrastructure. @SamEwen breaks down what to know.

Citibank has published research suggesting progress in quantum computing is advancing faster than previously expected, potentially accelerating the window for real-world attacks on crypto assets, CoinDesk reported. The bank's analysts argue that Bitcoin carries greater exposure than Ethereum, driven not only by differences in cryptographic implementation but also by the pace and mechanics of protocol upgrades. Recent academic and industry work is also pulling forward estimates for "Q-Day"—the point at which quantum machines could break widely used cryptographic systems. Citi referenced Google research indicating that a system with roughly 500,000 qubits could, in theory, crack relevant encryption in minutes. Such hardware does not yet exist, but Citi said outside projections are steadily improving. Google has cited 2032 as a potential timeframe, while some researchers place the risk as early as 2030. The report highlighted a structural vulnerability in Bitcoin: once a user broadcasts a transaction, the sender's public key can be revealed on the network before confirmation. In that window, a sufficiently capable attacker could theoretically derive the private key and divert funds. Citi also emphasized that mitigating the threat would be harder for Bitcoin than for some other networks. Moving to quantum-resistant cryptography would likely require broad consensus, extensive testing and potentially a hard fork. The bank said Bitcoin's conservative, consensus-driven governance model supports credibility but can slow protocol changes. Citi estimated that about 6.7 million to 7 million BTC sit in dormant wallets with exposed public keys, creating a concentrated set of potential targets. The report noted the widely held view that roughly 1 million bitcoins mined by Satoshi Nakamoto in Bitcoin's early days have never moved and use an older address format. At current prices, that tranche is estimated at around $82 billion. By contrast, Citi said Ethereum and other proof-of-stake networks may be better positioned to respond because of more flexible governance and a consistent long-term cadence of upgrades. The bank cautioned that this does not make them immune. Analysts said that if attackers used quantum capabilities to obtain enough private keys, they could theoretically control about 33% of staked assets, potentially disrupting block finality or impairing network operations. For Bitcoin, Citigroup singled out BIP360 and BIP361 as proposals to watch for progress toward quantum resistance. Citi's central takeaway is that long-term resilience will depend less on today's design choices than on a network's ability to adapt quickly. The report echoes comments made last week by Fireblocks CEO Michael Shaulov at the Financial Times Digital Assets Summit in the UK. Shaulov said Bitcoin's quantum challenge is primarily a community-coordination issue, not only a technical one.

The number of wallets holding at least 100 Bitcoin has reached 20,229, marking an 11.2% increase from 18,191 a year ago. At current prices, 100 BTC is roughly $7.7 million, a threshold commonly associated with whales, major investors, institutions, and well-capitalized long-term holders. Despite pronounced Bitcoin volatility over the past 12 months, these large holders have continued to accumulate, with the count of 100+ BTC wallets rising steadily rather than contracting. Historically, an expanding whale wallet base is often interpreted as a signal of sustained confidence in Bitcoin's long-term value and scarcity. The trend has persisted even during stretches when retail traders have frequently displayed fear, impatience, or skepticism. Track the daily number of 100+ $BTC wallets via this Santiment chart:

Strategy has funded its largest Bitcoin purchase in roughly a month by issuing preferred stock, buying 24,869 BTC for about $2 billion as demand surged for its dividend-focused product. Funding details centered on Stretch (STRC), a preferred share offering that currently pays an 11.5% annual dividend. Investors had until last Friday to purchase STRC and qualify for the next monthly cash distribution. With STRC trading near its $100 par value ahead of the ex-dividend date, Strategy issued nearly $2 billion in preferred shares and directed the proceeds into Bitcoin acquisitions. The purchase increases Strategy's total Bitcoin holdings to 843,738 BTC, which the company has recently valued at $64.4 billion. The scale matches the firm's previous major buy about a month ago, which followed a roughly $2.2 billion STRC raise. STRC is designed to trade close to its $100 par value; when it trades above par, Strategy can add to its treasury by issuing additional shares. The company is also seeking to move STRC dividends from monthly to bimonthly. In the lead-up to the ex-dividend date, STRC hovered around $100 for five straight days as issuance increased. On Monday, STRC was priced at $99.29 after falling as low as $99.02 in the prior session. In broader market trading, Strategy's common stock recently changed hands at $163.58, described in the report as down more than 7%, though still up nearly 2% over the past month—outpacing Bitcoin's 0.4% gain over the same period. Bitcoin was trading around $76,361, down more than 2% over the past day, after reaching about $82,500 earlier this month—its highest level since February's declines. CEO Phong Lee pointed to treasury performance, citing a year-to-date "BTC Gain" of $6.6 billion. Strategy uses this metric to reflect net additional Bitcoin accumulated after accounting for dilution from new share issuance. For fiscal 2025, the company reported a BTC Gain of 101,873 BTC, recently valued at $7.8 billion. Lee also wrote on X that "Digital credit is helping us deliver faster growth in 2026 than in 2025." The latest transaction highlights Strategy's increasing reliance on STRC's dividend structure and yield demand to finance large Bitcoin purchases—an approach that has faced scrutiny in volatile markets but has become a recurring element of the company's treasury strategy.

CryptoQuant said the latest wave of selling pressure in Bitcoin has been driven largely by short-term holders realizing losses. In a note reviewing the move from May 16 to May 18, the analytics firm pointed to exchange-flow data as a window into market psychology. CryptoQuant's "Bitcoin Short-Term Investors' Total Profit and Loss (Exchange Data, Last 24 Hours)" metric tracks whether BTC sent to exchanges by short-term investors is in profit or at a loss, helping distinguish profit-taking from panic-driven selling. CryptoQuant said the standout feature of the recent decline was the sharp imbalance between profitable and loss-making sellers. Over the past 24 hours, short-term investors in profit sent about 112 BTC to exchanges, while those underwater transferred roughly 15,000 BTC. Total short-term holder inflows were estimated at around 15,100 BTC, with nearly all of it attributed to coins sold at a loss. As a result, profit-taking accounted for less than 1% of inflows, and selling pressure was dominated by investors exiting losing positions. CryptoQuant characterized the move as a classic "weak hand cleanup," arguing that the drop shook out recently entered buyers. The firm said losing positions were rapidly moved to exchanges and the market absorbed this forced liquidity. Looking ahead, CryptoQuant said the key question is whether the roughly 15,000 BTC loss-driven inflow declines quickly. A fast drop in selling pressure could signal a short-term reset, while continued increases may indicate impatient capital is still leaving the market. This is not investment advice.

Geopolitical headlines shook markets again Monday after reports circulated that Iran could allow Bitcoin as a payment method for transit fees through the Strait of Hormuz. Bitcoin came under early pressure but was holding around $76,500 at the time of publication, suggesting the sell-off had not extended further. Attention is centered on claims that Iran has launched a transit framework dubbed "Hormuz Safe," under which ships passing through the strait would pay fees in Bitcoin, with each passage priced at roughly $2 million. The reports also point to the possible creation of a new authority to oversee strait management. The Strait of Hormuz is one of the world's most important energy chokepoints, carrying close to one-fifth of global seaborne oil flows each day. If the reports prove accurate, investors may increasingly view geopolitical risk, energy transport disruptions, and crypto-based payments as part of the same story, pushing positioning toward caution. Selling pressure has also been driven by broader crypto outflows. Total crypto market capitalization fell about 1.87% to roughly $2.55 trillion. Bitcoin's 24-hour trading volume stood near $40.74 billion. More than $600 million in crypto long positions were liquidated over the prior session. Flows in listed investment vehicles weakened as well. Bitcoin investment products posted net outflows of about $982 million, while Ethereum-related products saw roughly $249 million in outflows. XRP and Solana registered small net inflows, but not enough to offset the broader risk-off tone. From a technical standpoint, Bitcoin is finding near-term support above $76,000. A break below that level could open the door to a retest around $74,500, while resistance is clustered near $77,400. A move back above $77,400 would refocus attention on a potential rebound toward the $79,000 to $80,000 zone. The report also noted the Relative Strength Index remains in weak territory and is nearing oversold levels, indicating selling pressure has become more concentrated. Even so, sentiment is likely to stay cautious until geopolitical risks and capital outflows show clearer signs of easing.

CoinMarketCap reports that a senior White House official overseeing digital assets said an official announcement on a U.S. Strategic Bitcoin Reserve is nearing release, with the toughest legal issues largely resolved and federal custody and reporting plans moving forward. Patrick Witt, Executive Director of the Presidential Advisory Council on Digital Assets, said in a recent interview that the government has cleared a key legal hurdle needed to create the reserve and that an asset-protection framework is mostly in place. The effort follows an executive order President Trump signed on March 6, 2025, directing the creation of a U.S. Strategic Bitcoin Reserve. Witt said an interagency team has since been assessing federal agencies' legal authorities and finalizing legal memoranda, custody procedures, and disclosure protocols. A central obstacle is that existing federal infrastructure was built for traditional reserve assets such as gold, not for managing private keys. As a result, the government is rebuilding custody and reporting systems designed specifically for Bitcoin. The U.S. government holds about 328,372 BTC, roughly 1.6% of global supply, largely from law-enforcement seizures and criminal forfeitures. These include assets tied to cases such as Silk Road and the recovery of Bitcoin stolen from Bitfinex in 2022. The executive order also bars the Treasury from selling this tranche, effectively classifying it as a reserve rather than readily disposable holdings. Witt added that a prior theft from the U.S. Marshals Service's custodial account underscores federal security concerns. The report alleges a government contractor stole more than $46 million in crypto assets from the account by the end of 2025, with another $24 million in stolen assets traced to October 2024. With executive orders potentially vulnerable after a presidential transition, lawmakers are moving to lock the framework into law. Representative Nick Begich recently renamed the BITCOIN Act as the American Reserves Modernization Act, which would authorize the Treasury to buy up to 200,000 bitcoins per year for five consecutive years and impose a minimum holding period of 20 years. Senator Cynthia Lummis is also pressing for a vote before the summer recess. If enacted, the legislation could set the stage for the Treasury's first open-market Bitcoin purchase as early as the fourth quarter of 2026, according to the report.

Binance's bitcoin open interest has climbed above $9 billion, giving the exchange a 73% lead over its closest competitor, according to CryptoQuant.