CryptoQuant said bitcoin risks turning lower after touching its 200-day moving average, a level that acted as strong resistance in past bear markets. It cited a move to the key resistance zone and expanding profit-taking as grounds for a possible short-term decline. Traders’ unrealised profit reached 17.7 percent on May 5, the highest since June last year, and realised gains jumped, including 14,600 BTC cashed out on May 4 worth about $1.2 billion.

South Korea’s ruling and opposition parties jointly pressed the Financial Services Commission over delays in proposing a government bill for a digital asset framework law, citing a provision limiting major shareholders’ stakes after the fact. The commission had aimed to finalize a deal in the first quarter but talks were postponed indefinitely. In the United States, the Senate set late April for committee review of the Clarity Act, while Coinbase again opposed a ban on interest on stablecoin holdings.