Key Highlights
- Bitcoin broke below $80,000 for the first time since early May after $635 million in single-day ETF outflows — the worst since January 29 — led by BlackRock’s IBIT ($285M) and Ark’s ARKB ($177M)
- The Senate Banking Committee meets today at 10:30 AM ET to mark up the CLARITY Act, the most significant U.S. crypto legislation since the GENIUS Act was signed in July 2025
- Moody’s assigned its highest AAA-mf rating to BlackRock’s BUIDL and Fidelity’s FILQ tokenized money market funds, as tokenized Treasury AUM surpasses $15 billion
The crypto market opened Thursday, May 14, under heavy institutional selling pressure as the largest single-day Bitcoin ETF outflow in nearly four months collided with a pivotal day in Washington. Bitcoin is trading near $79,500, down 1.5% from Wednesday’s open and below the $80,000 floor that had held since early May.
The total crypto market cap sits at approximately $2.75 trillion, with 24-hour trading volume near $90 billion according to CoinMarketCap. Bitcoin dominance is at 60.01%, while the Fear & Greed Index dropped sharply to 34 from 42 the prior day — firmly in “Fear” territory.
Both Bitcoin and Ethereum have opened lower every day this week.
| Asset | Price | 24H Change | Market Cap |
| Bitcoin (BTC) | ~$79,570 | -1.5% | ~$1.33T |
| Ethereum (ETH) | ~$2,258 | -0.7% | ~$272B |
| Solana (SOL) | ~$91.00 | -4.97% | ~$52.7B |
| XRP | ~$1.42 | -1.55% | ~$87.7B |
| BNB | ~$671 | +1.04% | ~$90.5B |
| Dogecoin (DOGE) | ~$0.114 | +2.71% | ~$17.4B |
Bitcoin Price Today
Bitcoin opened at $79,283 on Thursday, slipping to an intraday low near $78,800 before recovering slightly to the $79,500–$79,600 range. The $80,000 floor that held through all of April and early May is now broken. The technical picture is bearish short-term: BTC tested the 200-day moving average at $82,228 four times in the past two weeks and was rejected each time, and the failed breakout has now resolved to the downside.
Matt Mena, senior crypto research strategist at 21Shares, noted that a prolonged break below $80,000 could send Bitcoin toward $78,000, with $75,000 becoming the next major support zone if selling pressure intensifies. Still, he argued the latest inflation shock may represent the “final flush of weak hands” before bullish catalysts return to focus.
Key levels:
| Level | Price | Significance |
| Resistance | $82,228 | 200-day MA, rejected 4x in 2 weeks |
| Resistance | $80,000 | Psychological, now broken support |
| Support | $78,800 | Weekly low hit today |
| Support | $75,000 | Next major floor if selling intensifies |
BTC ETF Flows: $635M Single-Day Exodus
U.S. spot Bitcoin ETFs recorded approximately $635 million in net outflows on May 13, the largest single-day redemption since January 29, according to Farside Investors data. The bleeding was broad-based:
| Fund | Ticker | Net Flow (May 13) |
| BlackRock iShares Bitcoin Trust | IBIT | -$284.7M |
| ARK 21Shares Bitcoin ETF | ARKB | -$177.1M |
| Fidelity Wise Origin Bitcoin | FBTC | -$133.2M |
| Bitwise Bitcoin ETF | BITB | -$35.4M |
The $635 million exit brings total net outflows over five trading days to approximately $1.26 billion, pulling cumulative net inflows since the January 2024 launch down from $59.76 billion to $58.5 billion — erasing in one week what took months to accumulate. Total AUM for U.S. spot Bitcoin ETFs stood at $105.01 billion following the session.
Ethereum ETFs also saw $36.3 million in outflows, with BlackRock’s ETHA accounting for roughly $21.1 million. The parallel selling across both major crypto ETF categories suggests broader institutional caution rather than a Bitcoin-specific event. TCT previously reported on the ETF outflow details and fund-by-fund breakdown.
CLARITY Act: Senate Banking Committee Votes Today
The Senate Banking Committee meets in executive session today at 10:30 AM ET to mark up H.R. 3633, the Digital Asset Market Clarity Act of 2025. This is the most significant crypto regulatory event since the GENIUS Act was signed into law in July 2025.
The updated 309-page bill text includes a stablecoin yield compromise: issuers are prohibited from paying interest solely for holding stablecoins, but user incentives tied to related activities are permitted. If approved in committee, the bill is expected to advance to Senate debate and voting in June, with the White House targeting July 4 for final signing.
However, the path remains contested. Three major U.S. banking trade groups formally rejected the Tillis-Alsobrooks stablecoin yield compromise on May 9, arguing that activity-linked rewards are economically equivalent to deposit interest. Democratic senators — led by Warren, Gillibrand, and Schiff — have drawn hard lines on the missing ethics provision, warning the bill cannot clear the 60-vote Senate threshold without conflict-of-interest language.
Coinbase CEO Brian Armstrong said the bill has reached its strongest position yet, while David Sacks called the review “a critical step for the U.S. to become the global crypto capital.” Polymarket odds for the CLARITY Act becoming law in 2026 were around 60–70% before banking lobby pushback this week.
Lawmakers are reportedly reviewing over 130 amendments. The vote outcome today will likely set the tone for crypto markets through the rest of May.
Also read:Today in Crypto: CLARITY Act Markup Nears, Circle Raises $222M, Strategy Buys 535 Bitcoin
Ethereum Price Today
Ethereum opened at $2,257.71 on Thursday, down 0.7% from Wednesday. ETH is tracking Bitcoin’s weakness this week, but losses have been shallower — ETH/BTC hit a recent low before rebounding 0.81%.
The Ethereum Foundation’s “Clear Signing” standard, announced earlier this week, continues to generate developer interest. Solana’s competing “Alpenglow” upgrade is now live for testing, keeping the L1 competition narrative active.
JPMorgan filed for an Ethereum-based tokenized money market fund this week, while Coinbase announced it will manage USDC liquidity on Hyperliquid, deepening ties with the DeFi trading platform.
Top Crypto Gainers
| Token | Price | Volume | 24H |
| Playnance (GCOIN) | $0.002321 | $847,557 | +122.1% |
| Kishu Inu (KISHU) | $0.03442 | $1.09M | +74.0% |
| OpenServ (SERV) | $0.03522 | $7.63M | +59.4% |
| Gensyn AI | $0.04515 | $31.26M | +50.8% |
| PlaysOut (PLAY) | $0.1114 | $8.39M | +44.7% |
Smaller-cap tokens led the upside, with Playnance jumping more than 122% even though its trading volume stayed below $1 million. That suggests the move may have been driven by thin liquidity, where even modest buying pressure can trigger a sharp percentage rally.
Kishu Inu and PlaysOut pointed to renewed speculative activity in meme and gaming-linked names, while OpenServ and Gensyn AI kept AI-linked tokens in focus. Gensyn AI’s $31.26 million volume made it the strongest high-turnover gainer in the top five, showing that part of the rally was not limited to low-liquidity microcaps.
Top Crypto Losers
| Token | Price | Volume | 24H |
| Siren (SIREN) | $0.5554 | $108.01M | -53.9% |
| Naoris Protocol (NAORIS) | $0.07834 | $10.98M | -35.7% |
| Superform (UP) | $0.1798 | $40.61M | -33.5% |
| BUILDon (B) | $0.5192 | $80.98M | -27.9% |
| SkyAI (SKYAI) | $0.388 | $53.33M | -22.6% |
The losers list showed much heavier turnover than the gainers, with Siren alone recording more than $108 million in volume while falling nearly 54%. That kind of price-volume combination points to aggressive selling, forced exits, or a sharp reversal after earlier speculative demand.
BUILDon, SkyAI and Superform also posted double-digit losses on strong volume, showing that traders were rotating out of recently active narrative tokens rather than simply ignoring them. Naoris Protocol’s decline added to the risk-off tone across smaller infrastructure and security-linked tokens, even as selective AI and meme names continued to attract upside flows.
Crypto Stocks Today
| Stock | Price | Move | Intraday Range |
| Coinbase | $200.72 | -0.54% | $195.11 – $203.16 |
| Strategy | $179.49 | +0.82% | $174.75 – $179.59 |
| MARA | $12.87 | +0.90% | $12.47 – $12.91 |
| Riot Platforms | $24.36 | -2.25% | $23.90 – $25.20 |
| CleanSpark | $13.51 | +1.58% | $13.17 – $13.65 |
Crypto-linked equities were mixed instead of broadly weak. Coinbase traded lower despite Bitcoin’s recovery, while Strategy, MARA and CleanSpark moved higher. Riot was the weakest name in this group, falling more than 2% intraday.
The split shows that equity traders were not treating Bitcoin’s move above $80,000 as a clean risk-on signal. Mining stocks showed selective strength, but Coinbase’s decline suggested exchange-linked sentiment remained cautious after the ETF outflow shock.
Liquidations and Leverage
| Metric | Latest Reading | Market Signal |
| Total crypto open interest | $134.65B | Leverage still elevated |
| 24H liquidations | $234.36M | Forced positioning remains active |
| 24H long/short split | 48.99% / 51.01% | Slight short bias |
| BTC key zone | $78,700–$80,500 | Main short-term battleground |
Leveraged longs bore the brunt of this week’s selloff. Over $326 million in long positions were liquidated on May 13, with an additional $234 million in long liquidations recorded in the past 24 hours. The deleveraging reflects Bitcoin’s failed breakout at the 200-day moving average unwinding into forced sells.
The CoinGecko market summary noted that hotter-than-expected inflation data triggered over $109 million in long liquidations on BTC alone, with Bitcoin now trading between $78,700 and $80,500.
Macro Backdrop: Inflation, Fed Chair Transition, Trump in China
Three macro catalysts are converging this week:
PPI shock. U.S. April Producer Price Index came in at 6.0% YoY — the highest since December 2022 and well above the market expectation of 4.9%. Rising oil prices tied to the U.S.-Iran conflict and Strait of Hormuz supply risks are feeding producer-level inflation.
Kevin Warsh confirmed as Fed Chair. The Senate confirmed Warsh in a 54–45 vote on Wednesday. He takes over from Jerome Powell, whose term ends May 15. The appointment comes as stronger inflation data clouds expectations for rate cuts.
Trump in China. President Trump landed in Beijing for a May 14–15 state visit alongside Elon Musk, Jensen Huang, Tim Cook, and Larry Fink. The summit covers tariffs, semiconductors, and Middle East policy — all of which carry indirect crypto-market implications through dollar, oil, and risk-appetite channels.
Other Notable Developments
Charles Schwab spot crypto launch. The brokerage giant managing ~$12 trillion in client assets began rolling out spot Bitcoin and Ether trading to retail clients this week.
Solana’s Alpenglow upgrade. Now live for testing, the consensus overhaul targets dramatically faster finality. SOL is trading at ~$91, down 4.97% in 24 hours.
UP token. Listed on Korean exchanges, surged 60% intraday before retracing; still up 37% over 24 hours.
XRP. Spot trading volume topped Upbit, surpassing BTC and ETH by volume on the Korean exchange.
Levels to Watch
| Asset | Support | Resistance | Market Bias |
| Bitcoin | $80,000 / $78,700 | $82,000 / $82,500 | Recovery, but ETF drag remains |
| Ethereum | $2,236 / $2,200 | $2,300 / $2,350 | Needs stronger ETF demand |
| XRP | $1.40 / $1.38 | $1.50 / $1.55 | Stronger relative setup |
| Solana | $89.85 / $88 | $92.50 / $96 | ETF flows supportive |
| BNB | $664 / $650 | $680 / $690 | Holding stronger than ETH/SOL |
Bitcoin’s first test is now whether it can hold above $80,000 after the reclaim. A move toward $82,000–$82,500 would improve the technical setup, but another failure below $80,000 could put the $78,700 zone back in focus.
Ethereum needs to reclaim $2,300 with stronger spot and ETF demand to improve momentum. Solana’s price action remains capped near the low-$90 range, but its ETF flow backdrop is stronger than BTC and ETH today.
What to Watch
- CLARITY Act markup result — the committee vote at 10:30 AM ET is today’s main event. A clean pass lifts the regulatory overhang; a stall or amendment fight extends uncertainty.
- Bitcoin below $80K — if the $78,800 weekly low doesn’t hold, $75,000 becomes the next test.
- Powell’s last day — Jerome Powell’s term ends May 15. Warsh’s first public signals as Chair will shape rate expectations.
- ETF flow reversal — five consecutive days of outflows totaling $1.26B. A sixth negative day would be the longest BTC ETF outflow streak since February.
- Trump-Xi summit outcomes — any tariff, semiconductor, or Middle East developments from Beijing will ripple through risk assets.
Market Outlook
The market is in a defensive posture heading into today’s CLARITY Act vote. Bitcoin has lost $80,000, ETF outflows are accelerating, and the macro picture — hot inflation, a new Fed chair, and geopolitical uncertainty — keeps risk appetite compressed. The Fear & Greed Index at 34 reflects genuine caution.
But the structural story has not changed: tokenized Treasury products just cleared $15 billion in AUM with AAA ratings from Moody’s, Schwab is rolling out spot crypto trading to millions of retail accounts, and the CLARITY Act is closer to becoming law than any previous U.S. crypto market structure legislation. If today’s markup clears committee cleanly, it removes the single largest regulatory uncertainty hanging over the market.
The next 24 hours are binary: the CLARITY Act outcome, Warsh’s ascension, and whether the ETF outflow streak extends will determine whether this dip is a flush before the next leg up or the start of a deeper correction.
Also Read: CLARITY Act Markup Vote Today: What Happens If It Passes and Could Crypto Rules Arrive by June?
