Bitcoin futures open interest across exchanges rose to $61.9 billion on May 14, with BTC trading around $81,500 at 3 p.m. ET. Options positioning shows "max pain" levels clustering around $78,000–$81,000 for near-term expirations, while Deribit's June 26 expiry carries $14.52 billion in notional value. Data also indicate differing behavior across venues, with call volume leading on Deribit and OKX while CME's options open interest is more put-heavy.

Bitcoin has dropped under $80,000 after a roughly 37% rebound from earlier lows ran into resistance near the 200-day moving average around $82,400. XWIN Research Japan highlights on-chain signals such as a 17.7% unrealized profit margin and a May 4 realized-profit spike of 14,600 BTC, while noting spot demand contraction has eased from -91,000 BTC in April to about -11,000 BTC.

Bitcoin faced renewed pressure after U.S. spot Bitcoin ETFs posted $635 million in net outflows on May 13, alongside liquidations of about $77.95 million in BTC long positions over the past 24 hours. Finbold’s machine-learning forecast averages $79,264 for Friday, May 22, 2026, versus a stated current price of $79,920, while traders watch whether BTC can regain $80,800 as a key near-term level.

Marathon Digital Holdings (MARA) has reportedly sold about $1.5 billion in Bitcoin, offloading roughly 20,880 BTC at an average price near $70,137 per coin, and said it will not buy additional mining hardware as it shifts focus toward AI infrastructure. The company's Bitcoin holdings were described as falling from 38,689 BTC to about 35,303 BTC, with proceeds used to repurchase convertible notes and reduce total debt from $3.3 billion to $2.3 billion.

Bitcoin's weekly chart is being read as entering a redistribution zone after earlier distribution and range phases. The same three-stage structure appeared after the 2021 peak and preceded a steep decline, while BTC was cited at $79,800 at the time of writing. The analysis argues a repeat of a 78% drop from current levels would imply prices below $25,000, though it says any move is not guaranteed.

Bitcoin broke below $80,000 after hotter-than-expected US inflation data and briefly dipped to $78,725 before rebounding to around $79,500. The move has concentrated leverage near $78,000, where a further drop could trigger about $1 billion in long liquidations, while a rebound toward $80,458 could put roughly $640 million of shorts at risk. Spot demand indicators have softened alongside reported spot Bitcoin ETF outflows of more than $800 million this week.

Bitcoin’s monthly chart showed BTC at $79,246, up 3.80% with 13 days left in the candle, after trading between $76,320 and a May high of $82,850. Bulls are focused on the long-term rising channel and the monthly SMA50 at $58,969 holding, while a separate Head and Shoulders read targets roughly $59,000 if the neckline retest fails. The next monthly close is framed around $83,000 to negate that bearish setup or below $76,320 to reinforce it.

On May 14, 2026, Bitcoin slipped under $80,000 as the U.S. April PPI came in at +6.0% and President Donald Trump met Xi Jinping in Beijing alongside executives including Elon Musk and Jensen Huang. The same day, the U.S. Senate confirmed Kevin Warsh as Federal Reserve chair by a 54–45 vote, while the Senate Banking Committee began marking up the Clarity Act.