The Bitcoin Foundation editorial team summarizes how the two leading cryptocurrencies performed during the second week of May. All the key highlights are in this article.
Hot topic: Bitcoin ETF Flows May 2026 — Record $635M Outflows Hit US Spot Bitcoin ETFs
Contents
Bitcoin at Whale Break-Even Level
This week, Bitcoin (BTC) returned for the third time since October to the key psychological level of $79K-80K—the average purchase price of short-term large holders. CryptoQuant analysts call this test decisive for the market’s next move.
Short-term holder whales are large investors who react more sensitively to market fluctuations. Their realized price currently sits around $80K. When approaching this level, they often begin taking profits or cutting losses.
Analyst MorenoDV noted that the previous two tests in October 2025 and January 2026 ended in capitulation. After brief rallies, prices fell, and investors actively sold.
If bitcoin manages to establish itself above $80K-81K, selling pressure from this group could significantly diminish. Otherwise, the market risks facing a new wave of selling.
At the time of writing, BTC traded near $79,250. During the past 24 hours, the price dropped nearly 3%.
Ethereum Faces Downside Risks — Analysts Eye 20% Drop
Ethereum (ETH) continues to lag behind bitcoin. Analysts warn of significant downside risks. Rising ETH▼$1,776.61 supply on exchanges and declining demand for spot Ethereum ETFs are putting pressure on the price.
At the time of publication, Ethereum’s price stood at approximately $2,200. Over the past 24 hours, the second-largest cryptocurrency fell 3.3% in value.
According to CryptoQuant, ETH reserves on Binance have grown from 3.36 million to 3.84 million coins in just a few days. Analyst BorisD noted that the inflow of liquidity to exchanges caused the price to fail to break above $2,400, leading to a 7% drop to $2,260.
“The broader structure still points toward downside risk remaining dominant for now,” he emphasized.
The technical picture adds further pressure. ETH has formed a rising wedge and broken its support at $2,280. Analysts forecast a possible drop to $1,725, a 22% decline from current levels. A more bearish scenario from CryptoBullGod sees a drop to $1,280 based on a bear flag pattern.
ETH Will Continue to Lag Behind BTC
JPMorgan analysts warn that Ethereum and other altcoins will likely continue to lag behind bitcoin. The main reasons are low liquidity, DeFi stagnation, and recurring security issues.
“The trend established in 2023 is unlikely to reverse unless we see significant improvements in network activity, DeFi, and real-world applications,” the bank’s experts stated.
Week’s Overall Conclusion
The week of May 11-15 showed bitcoin’s dominance persisting. While institutional interest remains primarily focused on the leading cryptocurrency, Ethereum and altcoins remain under pressure.
Further dynamics will depend on whether BTC can confidently break above the $80K-82K zone.
