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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
05/30/2025

Bitcoin Starts to Pull Back — Is the Bull Run at a Crossroads?

On May 30, as Bitcoin Conference 2025 wrapped up its final day, the crypto market staged a sharp and unexpected correction — reminding many investors of the so-called "conference curse," where each Bitcoin Conference seems to trigger a market selloff. Bitcoin Slides, Altcoins in Free Fall Bitcoin dropped hard to an intraday low of $104,600 after earlier touching highs around $110,000. Ethereum saw a similar correction, falling from $2,788 down to just $2,557. Altcoins weren't spared from the selloff either, with BERA even hitting a new all-time low.

Bitcoin Starts to Pull Back — Is the Bull Run at a Crossroads?

On May 30, as Bitcoin Conference 2025 wrapped up its final day, the crypto market staged a sharp and unexpected correction — reminding many investors of the so-called "conference curse," where each Bitcoin Conference seems to trigger a market selloff.

Bitcoin Slides, Altcoins in Free Fall

Bitcoin dropped hard to an intraday low of $104,600 after earlier touching highs around $110,000. Ethereum saw a similar correction, falling from $2,788 down to just $2,557. Altcoins weren't spared from the selloff either, with BERA even hitting a new all-time low.

According to data from Coinglass, within just one hour the market recorded $330 million in liquidations, of which $321 million were long positions — a sign that the market had grown overheated and many investors got caught in a long squeeze.

Macro Backdrop: Still Plenty of Uncertainty

At the same time, crypto-adjacent equities like COIN (Coinbase) and MSTR (MicroStrategy) also fell sharply in after-hours trading. On the policy front, the Federal Reserve maintained its cautious stance: San Francisco Fed President Mary Daly stated that rates should be held steady in the near term to keep inflation under control, though she left the door open for two rate cuts later this year.

Geopolitical and trade pressures added to the headwinds. An appeals court reversed the Trump administration's tariff reversal decision, reigniting concerns about the stability of U.S. trade policy.

Expert Takes: Healthy Pullback or the Start of a Breakdown?

Placeholder: Risk/Reward Still Looks Good

Chris Burniske, partner at Placeholder, posted on social media that investors shouldn't be too alarmed by this minor pullback. "Don't confuse a small correction for the end of the uptrend. The overall risk/reward profile is still very favorable."

Matrixport: Investors Are Taking Profits

A report from Matrixport (Markus Thielen – 10x Research) noted that Bitcoin futures open interest surged sharply since April but has recently begun to decline — a signal that investors are locking in gains and waiting to re-enter at lower price levels.

Bitfinex Alpha: In a Healthy Accumulation Phase

In its May 26 report, Bitfinex noted that Bitcoin had corrected 32% from its early-year peak before recovering more than 50% to set a new all-time high at $111,880. The firm believes the market is now entering a healthy accumulation phase, supported by ETF inflows, growing institutional participation, and friendly policy developments such as the proposed pro-crypto legislation in Michigan.

Bitfinex also emphasized that Bitcoin is increasingly behaving as a macro-sensitive, conviction-driven asset — less driven by FOMO than in previous cycles.

CryptoQuant: STH SOPR Hits Local Peak, Not Overheated Yet

Analysis from Axel Adler Jr at CryptoQuant shows that the STH SOPR (the realized profit/loss ratio for short-term holders) has just reached a local peak, reflecting elevated profit-taking activity. However, the metric is still far from the extreme levels seen at tops in prior cycles — suggesting the market still has room to run.

Arthur Hayes: ETH Has More Room to Explode

At Bitcoin Conference 2025, Arthur Hayes — former CEO of BitMEX — said he believes ETH could reach $5,000 this year, even as market sentiment toward Ethereum remains lukewarm. In his view, that's precisely what makes it a buying opportunity.

Conclusion: A Trend-Defining Moment Approaching?

Bitcoin is currently testing a key support zone around $95,000, which also corresponds to the average cost basis for short-term holders. If it holds above this level, the current pullback could be viewed as healthy — a stepping stone for a stronger rally into Q3. If that support breaks, the market may enter an extended accumulation period.

Either way, institutional capital flows, positive ETF signals, and the growing maturity of today's investor base all serve as buffers against the kind of panic-driven crashes the market has seen in the past.