Bitcoin has reached a critical resistance zone after rallying from the February lows into the 82K target region. The big question now: is this simply a temporary pullback before another rally higher, or has the next major bearish phase already started?
In this video we analyze the Bitcoin chart using Elliott Wave Theory, Fibonacci mathematics and Bitcoin cycle analysis. We discuss why the current move still appears corrective, why the classic four-year Bitcoin cycle still points toward a potential low later this year, and which support and resistance levels matter most in the coming days and weeks.
Bitcoin (BTC) is trading at approximately $78,369, reflecting a 24-hour drop that pushed it slightly below the key $78,000 mark earlier in the session before staging a minor stabilization. The market is facing heavy macroeconomic headwinds, a spike in leveraged long liquidations, and technical resistance, stalling the optimism built up earlier in the week.
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Bitcoin BTC Price News & Insights Today 17-5-2026 - Technical analysis of BTC, on market structure, key support and resistance zones. Video by More #Crypto Online.
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Bitcoin Insights Today
1. Macro Economic Factors Trigger $580M LiquidationGlobal market anxiety fueled by hotter-than-expected inflation data, climbing U.S. Treasury yields, and rising oil prices triggered a massive "risk-off" wave. This sudden drop caused over $580 million in crypto long positions to be wiped out within 24 hours, magnifying the downward pressure on BTC, ETH, and SOL.
2. Clarity Act Optimism Faces a PauseEarlier this week, Bitcoin surged past $82,000 following news that the U.S. Senate Banking Committee advanced the CLARITY Act, a major bipartisan crypto regulatory bill. However, the initial euphoria has faded as traders realize the bill still faces a long legislative path through Congress.
3. Institutional Outflows vs. Long-Term Hodler AccumulationWhile spot Bitcoin ETFs suffered nearly $1 billion in net outflows this week due to profit-taking, on-chain data shows a stark divergence from retail panic. Long-Term Holders (LTHs) increased their collective supply by 316,000 BTC over the last month, pushing total long-term custody to 15.26 million BTC—the highest level recorded since August 2025.
4. Corporate Treasury ManeuversMicroStrategy remains in the spotlight under Michael Saylor. The company announced a $1.5 billion debt buyback plan targeting its 2029 convertible senior notes. While the firm intends to use equity offerings and cash, market analysts noted that potential selective Bitcoin sales to fund the buyback may be adding short-term spot market friction.
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