Bitcoin Rally Halts as Profit-Taking Rises, US Demand Falls
Bitcoin dropped 1.40% to $79,418 as investors locked in gains and US demand weakened, according to CryptoQuant analysis. The broader crypto market followed suit with major altcoins declining.
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Bitcoin's upward momentum stalled on May 13 with the leading cryptocurrency falling 1.40% to $79,418, as profit-taking activity intensified across exchanges. Data from CryptoQuant revealed that US demand for bitcoin has softened, signaling a potential shift in market sentiment after recent gains.
The selloff extended to major altcoins, with Ethereum (ETH) declining 1.26% to $2,255.64, Solana (SOL) dropping 3.97% to $90.88, and Cardano (ADA) falling 3.03% to $0.263759. Notably, ZEC suffered the steepest decline at 6.79%, while TON tumbled 8.77%. Among gainers, only DOGE posted significant strength, climbing 2.41% to $0.11262.
The retreat comes as market participants engage in profit-taking following the bitcoin rally. CryptoQuant's analysis points to decreased demand from US investors as a key factor, suggesting international market dynamics may have shifted. The cryptocurrency market remains sensitive to macroeconomic signals and institutional flows, with [INTERNAL: Bitcoin demand] metrics serving as important indicators for directional bias.
Stablecoin prices remained relatively anchored near their $1 peg, with USDC trading at $0.99979 and USDS at $0.999682, indicating stable store-of-value conditions during the volatility.
Expert analysts monitoring on-chain data suggest that this pullback, while notable, represents normal market consolidation rather than a fundamental breakdown in bullish sentiment. The decline aligns with patterns typically observed when retail and institutional investors simultaneously reduce exposure after significant price rallies. [INTERNAL: Crypto market volatility] often accelerates when profit-taking combines with external headwinds like reduced US institutional interest.
Investors should monitor exchange inflows and outflows closely, as sustained selling pressure could test lower support levels. The bitcoin market remains highly reactive to macroeconomic data and regulatory developments. This is not financial advice—conduct your own research before making investment decisions.
Disclaimer: This article is AI-assisted and for informational purposes only. Nothing published on FinCNews constitutes financial advice, investment recommendation or solicitation. Cryptocurrency markets are highly volatile. Always conduct your own research and consult a qualified financial advisor before making investment decisions. About our editorial standards →