Bitcoin Profit-Taking Dominates Amid Price Surge: What It Means for the Market As Bitcoin continues its ascent towards $98,000, a wave of profit-taking is sweeping across the market, raising concerns
In a recent revelation from COINOTAG News, dated May 7th, significant disclosures have emerged from SEC documentation categorized by Coinbase. These files indicate that during the ongoing litigation involving the
Unless their use is defined under law, and accounting rules, they will remain a poor medium of exchange
Litecoin and Stacks have seen impressive growth in the past 24 hours. The latest market movements have caught the eye of many investors. This article explores whether these altcoins can sustain their upward trend and continue to surge. Dive in to discover the potential future of these cryptocurrencies and what might be driving their recent success. Litecoin Price Action: Strong Rise and Key Zones to Watch LTC past month gains of 30.24% and a six-month rise of 28.45% highlight Litecoin's consistent upward movement, showing a weekly increase of 7.31%. The coin has demonstrated a bullish trend, reflecting increased interest from traders and a recovery from earlier declines. Current trading is between $68.24 and $93.62, with immediate resistance at $103.74 and support around $52.98. Bulls appear to dominate but are cautious as prices near resistance. Trading within these levels may lead to gradual increases toward the second resistance at $129.12, while traders should also monitor the lower support at $27.60. Stacks (STX): Volatile Past and Mixed Present Stacks surged over 56% in the past month but experienced a steep 50.55% decline over the last six months. Price movements have been erratic, demonstrating strong short-term rebounds but also revealing significant longer-term downturns. The momentum has fluctuated unpredictably, showcasing both aggressive rallies and heavy dips that characterize its performance history. The current trading range is between $0.55 and $1.00, with resistance at $1.20 and support around $0.29. Indicators like a 60.76 RSI suggest cautious optimism, although there is slight negative momentum indicating bearish pressure. Traders may look to buy near support levels and test the $1.20 resistance to assess potential trend reversal opportunities. Conclusion LTC and STX have seen significant daily gains, sparking interest among investors. The recent performance suggests a potential for continued upward movement. However, market conditions and investor sentiment will play crucial roles. Monitoring market trends and news is essential for predicting future price actions. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Key points: Bitcoin investors are making the most of the highest price levels in several months by cashing out profits. These are averaging $1 billion per day, leading to concerns that the market comeback may stall or even reverse. Institutional participation has not led to a change in mindset, CryptoQuant says. Bitcoin ( BTC ) risks a “local top or sharp correction” if current levels of profit-taking continue, new research warns. In a “Quicktake” blog post on May 8, onchain analytics platform CryptoQuant flagged elevated realized profits among BTC investors. BTC profit-taking spikes to January highs Bitcoin realized profits have spiked to multimonth highs this week as BTC/USD reached close to $98,000. For CryptoQuant, the market is becoming comparable to late 2024, when the pair broke through old all-time highs and hit $100,000 for the first time. “Even after positive price action after March-April drop in 2025, profit taking is still aggressive. Maybe not like November-December 2024 but still high,” contributor Kripto Mevsimi wrote. “This is historically consistent with late-stage bull market behavior — where profit-taking dominates, even as price continues to rise.” Bitcoin net realized profit and loss. Source: CryptoQuant CryptoQuant data puts the current 7-day moving average realized profit across the hodler spectrum at approximately $1 billion per day. “If we look back at similar cycles (e.g. 2021), this phase often preceded a local top or sharp correction, especially when profit-taking stayed high and continuous,” it continued. No hiding from Bitcoin “investor psychology” As Cointelegraph reported , some market commentators have argued that the Bitcoin investment landscape has fundamentally changed thanks to increased institutional participation. Related: Bitcoin pushes for $98K as 2025 Fed rate cut odds flip 'pessimistic' Chief among the new players are the US spot Bitcoin exchange-traded funds (ETFs), the largest of which, BlackRock’s iShares Bitcoin Trust (IBIT), has seen net inflows every day for more than two weeks . Despite this, Kripto Mevsimi contends that underlying reactions to BTC price changes remain the same. “Since spot ETFs launched in January 2024, market structure has changed — but investor psychology hasn’t,” he summarized. Source: Farside Investors This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Litecoin has printed rare price breakout despite ETF approval delay
Coinbase (COIN) is heading into its first-quarter earnings report on shaky ground, with four Wall Street analysts expecting a miss as the retail trading lull is likely to pressure the crypto exchange’s most profitable business lines. The company is scheduled to report first-quarter results on Thursday post-market. The analysts are projecting earnings per share (EPS) falling to $1.93 from $2.26 in the fourth quarter and revenue dropping to $2.1 billion from $2.27 billion, according to FactSet data. In the year-earlier first quarter , it reported EPS of $4.40 and revenue of $1.2 billion. Trading volume is expected to land around the $403.8 billion mark vs. $439 billion in the fourth quarter. J.P. Morgan cut its EPS estimate to $1.59, citing a 10% drop in Coinbase’s trading volume and a 17% slide in total crypto market cap during the quarter. Adjusted for crypto asset losses, they see EPS at $2.39, supported in part by controlled expenses and steady subscription revenue. Barclays and Compass Point see deeper trouble. Barclays slashed its revenue and EBITDA forecasts, saying the market has cooled sharply since January despite stablecoin growth. It pegs retail volumes at $69 billion, significantly below the Street's mean estimate of $79.8 billion. Compass Point, more bearish still, downgraded the stock to sell, projecting transaction revenue of $1.24 billion, 7% below the consensus. It argues that Coinbase is losing retail share to decentralized exchanges (DEXs) and warns of further pain in the second quarter. Popular trading platform Robinhood, last week, reported a 13% drop in transaction-based revenue from the fourth quarter as markets cooled in the first three months of the year. Stablecoins to the rescue? The one area of optimism: stablecoins. Coinbase’s revenue from USDC surged as the stablecoin's market cap climbed 42% during the quarter, helping bolster subscription revenue. Barclays estimates $304 million in first-quarter USDC-related revenue, and even the skeptics at Compass Point acknowledge this helped offset falling staking income due to the slide in ether’s price. Oppenheimer cut its volume forecast to $380 billion from $440 billion, but noted that Coinbase gained U.S. spot trading market share. That’s a positive sign, but one that may not matter if retail traders keep sitting on their hands. There’s also growing concern about longer-term competitive pressures. Analysts noted that decentralized exchanges — especially those operating on faster and cheaper blockchains like Solana and Coinbase’s own Base — are drawing in retail users looking to trade a wider array of tokens. While Coinbase’s U.S. market share is up, its dominance as a centralized, regulated exchange may not be enough to fend off this shift. Looking ahead, analysts caution that a near-term rebound in trading may be slow to materialize, especially with retail traders often hesitant to re-enter the market until they recoup earlier losses. Shares of Coinbase are down 23% year-to-date, trading at $198.06, while bitcoin is up 3.8% since the beginning of the year at $97,023 . Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
The TRON network continues to reinforce its reputation for stability and security, according to the latest data from CryptoQuant on May 6 . This data shows that actual block production consistently averages 99.7% of the expected 28,800 blocks per day. This near-perfect production rate shows the robustness of TRON’s infrastructure and demonstrates the platform’s ability to maintain high throughput and operational reliability. This performance is an improvement from the more volatile period of 2020–2021, when block production experienced periodic disruptions and fluctuations. TRON quietly hits 99.7% block production efficiency, and replaces 68% of its Super Representatives since 2020. Behind the scenes, it’s becoming one of the most stable and decentralized high-throughput blockchains. pic.twitter.com/EewbOnx8xj — CryptoQuant.com (@cryptoquant_com) May 7, 2025 The current consistency in block output shows a maturing network that has optimized its performance over time. With fewer large swings in daily block generation, TRON demonstrates an increasingly dependable environment for decentralized applications and transactions. TRON’s Super Representative System Key Contributor According to CryptoQuant, one key factor contributing to this performance is TRON’s Super Representative (SR) system, which plays a central role in block production under the network’s delegated proof-of-stake (DPoS) consensus mechanism. In 2025, the number of different SRs remained stable at 30, with 24 responsible for producing 3.71% of the total blocks. This closely mirrors the distribution seen in 2020, when 34 SRs were active and 17 produced a similar percentage of blocks. However, beneath this surface-level stability lies an evolving SR composition. While the total number of SRs hasn’t changed dramatically, the identities of those producing blocks have shifted. According to CryptoQuant, 23 of the 34 SRs that were active in 2020—approximately 68%—are no longer part of the block production group in 2025. This turnover has introduced 19 new SRs into the system, reflecting a dynamic, merit-based governance structure. Additionally, this steady rotation in SR roles showcases the decentralized nature of TRON’s governance. Rather than a fixed group of producers monopolizing control, the network fosters healthy competition and ongoing community engagement. The ability of new entrants to secure enough votes to become block producers shows TRON’s transparent and inclusive approach to blockchain management, reports CryptoQuant. TRON’s consistent 99.7% block production rate and evolving Super Representative structure demonstrate a secure, efficient, and decentralized platform. As TRON continues to mature, it sets a benchmark for operational reliability in the blockchain space, reinforcing its position as a high-performance network built for scalability and long-term growth. The post TRON Hits 99.7% Block Output – Has the Network Finally Mastered Reliability? appeared first on Cryptonews .
More than half of American taxpayers are not eligible for the promised $5,000 DOGE stimulus that Elon Musk pushed as part of his work under President Donald Trump’s administration in 2025. The payout was tied to the Department of Government Efficiency, or DOGE , a unit led by Elon to cut federal waste. The plan was simple: 20% of every dollar DOGE saved would be paid back to Americans in cash. But the numbers behind the plan have collapsed, and the criteria have narrowed so far that most taxpayers are left out. Maria Bartiromo: Given the COVID stimulus checks, how worried are you that sending a DOGE Dividend out to taxpayers is going to trigger inflation again? Me: When those COVID checks went out in 2021, we faced a supply chain crisis, a labor shortage, and widespread economic… pic.twitter.com/Qjuh13RpmD — James Fishback (@j_fishback) March 3, 2025 Musk cuts payout estimate and narrows eligibility As Cryptopolitan reported , Elon first pitched the idea expecting DOGE to save the federal government up to $2 trillion. With that projection, every taxpayer would walk away with $5,000. But that target didn’t last. On April 10, Elon told Trump that DOGE was now expected to save only $150 billion in its first fiscal year. That change dragged the possible payout down to just $375 per taxpayer, based on the same 20% return. Still, that number was later adjusted again. DOGE’s official site now shows that the expected total savings would land closer to $1,000 per taxpayer. That figure is based on a pool of 161 million taxpayers, which remains the government’s current estimate. But even if that money gets distributed, most people won’t see it. The real architect behind the check idea is James Fishback, CEO of investment firm Azoria. James pitched the concept to Elon as a way to reward people who pay more to the government than they receive in aid. “Checks would only be sent to tax-paying households,” he said. That excludes Americans with an adjusted gross income under $40,000, because most of them pay little to no federal income tax. Pew Research data backs that up. So, half the country is already off the list. James also explained that this isn’t your typical stimulus program. “Many low-income households saw transfer payments of between 25 and 30 percent of their annual income,” he said. That’s why DOGE checks would only go to net taxpayers — those who owe the IRS nothing and contribute more than they receive. “They have a lower propensity to spend and a higher propensity to save a transfer payment like the DOGE Dividend,” James said. Americans may need to temper DOGE check expectations Elon gave a speech in Wisconsin where he said that whether the checks even get sent depends on Congress and “maybe the president.” So the whole plan is still floating. The $5,000 figure is off the table. Even the $1,000 figure is now just an estimate. And nothing has been signed into law. The more people speak on this, the more watered down it becomes. Some Republicans want to kill the idea completely. House Speaker Mike Johnson, a Louisiana Republican, said the country should be focused on paying down the debt. “We have a $36 trillion federal debt,” Mike said. “We have a giant deficit that we’re contending with. I think we need to pay down the credit card, right?” He made it clear he doesn’t want money going out the door while the country’s financials look like this. Preston Brashers, a tax policy fellow at the Heritage Foundation, said the checks could cause a return of serious inflation. He warned it could come back “with a vengeance.” But James pushed back. He argued that as long as the DOGE checks are “deficit-financed” and funded directly from DOGE’s savings, they shouldn’t be inflationary. For now, the only thing certain is that DOGE isn’t producing a trillion-dollar windfall. Most Americans won’t get a check. And for those who do, it won’t be $5,000.
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