itcoin and Ethereum are facing intense selling pressure, with over $2.2 billion in aggressive sell activity hitting the crypto market in a short period. Bitcoin slipped below the key $78,000 level, while Ethereum also saw heavy losses as traders rushed to exit positions amid rising uncertainty.
According to CryptoQuant data tracking Binance order flow, Bitcoin experienced two major waves of aggressive selling. The first occurred on May 15, when Binance taker sell volume surged to nearly $1.5 billion in a single session. A second wave followed as BTC dropped under $77,000, adding another $1.1 billion in market sell orders.
Ethereum showed a similar pattern. Binance taker sell volume for ETH climbed above $1.1 billion as the asset moved closer to the $2,100 level. The synchronized sell-offs across both major cryptocurrencies suggest the market is seeing coordinated large-scale de-risking rather than normal retail-driven volatility.
Taker sell volume measures traders who sell immediately at market prices instead of waiting with limit orders. Large spikes in this metric usually signal urgency and fear in the market, often tied to institutional traders rapidly reducing exposure.
Despite the sharp decline, analysts say the data does not yet confirm a prolonged bear market. However, for bullish momentum to return, aggressive selling must cool down and prices need to stabilize above important support levels.
Technically, Bitcoin is now trading around $76,800 after breaking below the important $78,000 support zone. The asset also lost its position above the 100-day moving average and continues to struggle below the 200-day moving average near $82,000.
Market analysts are now closely watching the $72,000–$74,000 region, which previously acted as a strong demand zone during April’s recovery. If Bitcoin fails to hold that area, the next major support could appear near $64,000–$65,000.
The recent increase in trading volume confirms that the decline is being driven by active selling pressure rather than weak demand alone, reflecting a cautious and defensive market environment.
