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BTC $62,102.21 +1.85%
ETH $1,610.09 +2.51%
BNB $589.01 +1.94%
XRP $1.12 +3.06%
SOL $64.81 +3.06%
TRX $0.3273 +1.97%
DOGE $0.0846 +4.46%
ADA $0.1616 +4.12%
BCH $225.84 +0.91%
LINK $7.69 +4.14%
HYPE $59.52 -0.81%
AAVE $63.00 +2.53%
SUI $0.7543 +7.42%
XLM $0.2083 +6.72%
ZEC $403.91 +5.58%

rebound

Viewpoint: The current market trend is different from previous bear market rebounds; Bitcoin at $60,000 may already be the bottom of this cycle

According to The Block, crypto research firm K33 stated that despite Bitcoin's decline of about 6% after retesting the 200-day moving average of approximately $82,000 this month, the low of about $60,000 in February this year may still represent the largest pullback of this cycle.K33's research director Vetle Lunde pointed out that unlike the bear market rebounds in 2014, 2018, and 2022, this market has experienced a slow recovery lasting 189 days after breaking below the 200-day moving average, and market leverage and risk appetite have not been quickly rebuilt. Therefore, the current trend resembles a mild adjustment rather than a precursor to a new round of deep declines.K33 also noted that institutional capital flows still reflect a defensive sentiment. The latest 13F data shows that institutional investors collectively reduced their holdings by about 26,733 BTC in the first quarter, while retail investors increased their holdings by about 19,395 BTC; among them, neutral strategy firms like Jane Street and Millennium contributed most of the reduction.Additionally, Bitcoin ETFs recently recorded the ninth largest five-day outflow since the launch of the U.S. spot ETF. K33 believes this typically occurs when BTC approaches the ETF cost basis, reflecting that investors tend to stop losses or reduce risk exposure after experiencing a deep pullback.

Data: The net purchase of BTC by listed companies in a single week has strongly rebounded to 2.03 billion USD, an increase of over 44 times compared to last week

According to SoSoValue data, as of 8 AM Eastern Time on May 18, 2026, the total net purchase of Bitcoin by global listed companies (excluding mining companies) for the week was $2.03 billion, an increase of 4,403.11% compared to last week.Strategy (formerly MicroStrategy) announced an investment of $2.01 billion (an increase of 4,574.4% compared to last week) to purchase 24,869 Bitcoins at a price of $80,985, bringing the total holdings to 843,738 Bitcoins.The Japanese listed company Metaplanet did not purchase Bitcoin last week.In addition, four other companies purchased Bitcoin last week. Asset management company Strive announced on May 12 that it bought 9 Bitcoins, without disclosing the specific amount spent, bringing its total holdings to 15,009 Bitcoins; the UK Bitcoin company The Smarter Web Company announced on May 12 and May 15 that it invested $2.84 million to purchase 25 Bitcoins at a price of $81,592.67 and 10 Bitcoins at a price of $79,662, bringing its total holdings to 2,840 Bitcoins; the French Bitcoin company Capital B announced on May 18 that it invested $15.02 million to purchase 192 Bitcoins at a price of $78,205.4, bringing its total holdings to 3,135 Bitcoins; the Brazilian Bitcoin company OrangeBTC announced on May 18 that it invested $390,900 to purchase 5 Bitcoins at a price of $78,180, bringing its total holdings to 3,737 Bitcoins.As of the time of publication, the total amount of Bitcoin held by the listed companies worldwide (excluding mining companies) is 1,113,841 Bitcoins, an increase of 2.37% compared to last week, with a current market value of approximately $86.16 billion, accounting for 5.6% of Bitcoin's circulating market value.
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