Massive Bitcoin withdrawals worth hundreds of millions of USD from major exchanges have sparked significant interest in the crypto community.
However, if Bitcoin fails to break the $86,000 barrier, a price correction remains a real possibility, especially amid wavering investor confidence.
Bitcoin Whales Withdraw Hundreds of Millions in BTC
Data from the X account OnchainDataNerd on April 17, reveals that several large Bitcoin whales executed substantial withdrawals from top exchanges. Galaxy Digital withdrew 554 BTC, valued at approximately $76.74 million, from OKX and Binance.
Abraxas Capital pulled out 1,854 BTC, worth around $157.26 million, from Binance and Kraken.
Two other whales, identified by addresses 1MNqX and 1BERu, withdrew 545.5 BTC ($45.5 million) and 535.2 BTC ($45.44 million) from Coinbase, respectively. In a single day, over $280 million in Bitcoin was removed from exchanges.
Such withdrawals from Bitcoin whales, like those by Galaxy Digital and Abraxas Capital, often signal a strategy to move BTC into cold storage. This is typically viewed as a bullish sign, reducing selling pressure and reflecting expectations of future price increases.
Surge in First-Time Bitcoin Buyers
A report from Glassnode on X highlights a sharp rise in first-time Bitcoin buyers. This influx of new investors could drive short-term price gains. However, long-term holders (LTHs) have paused their accumulation, signaling caution amid heightened market volatility.
First-Time Buyers rose to a 30-day RSI of 97.9. Source: Glassnode
In a post on X, the analyst Ali used the TD Sequential technical indicator to forecast Bitcoin’s price trend. The TD Sequential flashed a buy signal on the Bitcoin weekly chart.
If Bitcoin consistently closes above $86,000, further price increases are likely. Currently, Bitcoin is hovering above $80,000, indicating growth potential. However, surpassing the critical $86,000 resistance level is essential to confirm the bullish trend.
Despite recent whale accumulation, not all signals are positive. Inflows into Bitcoin ETFs have dropped significantly. This decline suggests weakening investor confidence, which could exert downward pressure on prices without fresh catalysts.
Additionally, data from Lookonchain indicates that over $1.26 billion in Bitcoin was unstaked from Babylon. If this capital flows back to exchanges, selling pressure could intensify, making it harder for Bitcoin to breach key resistance levels.
President Trump is again urging lower interest rates after bullish US employment data. Some analysts are hopeful that new rate cuts will generate positive momentum for Bitcoin.
However, there are no signs that Powell will change his mind. If anything, it’s even less likely. Tariffs could cause unprecedented chaos, and the economy doesn’t need rate cuts to survive right now.
Total nonfarm payroll employment increased by 177,000, far outperforming expectations, while unemployment remained steady and wages went up. This prompted President Trump to ask once again for cuts to the interest rate:
Gasoline just broke $1.98 a Gallon, lowest in years, groceries (and eggs!) down, energy down, mortgage rates down, employment strong, and much more good news, as Billions of Dollars pour in from Tariffs. Just like I said, and we’re only in a TRANSITION STAGE, just getting…
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) May 2, 2025
President Trump has repeatedly asked Federal Reserve Chair Jerome Powell to cut interest rates. The crypto industry has also heavily advocated for such a move, which would encourage investment in risk-on assets.
Powell’s position has been very consistent. Tariffs could severely damage the economy, and the Federal Reserve needs to keep its powder dry to stave off future collapse. If it cut rates after bullish news, the Fed would have one less potential tool in the event of a real crisis.
To put it bluntly, there is a very low chance that Trump will get his desired rate cuts soon. Justin Wolfers, an economist at the University of Michigan, explained why the bullish report actually makes rate cuts less likely:
“I’m almost certain that the Fed remains on hold at its next meeting. The real economy (so far) is strong enough to not warrant a rate cut. And the big questions are all just over the horizon. Powell has been clear: He doesn’t want to guess what’s over that horizon, he wants to wait & see. The report is absolutely legit. White House interpretations are a different issue,” he said.
Real-World Assets (RWA) are becoming one of the most closely watched narratives in crypto as the sector evolves under increased institutional and regulatory scrutiny. The collapse of MANTRA served as a wake-up call, exposing operational vulnerabilities and sparking demands for higher standards across tokenization platforms.
While skepticism grows around decentralized RWA projects, the broader investment case for asset-backed tokens remains intact—especially as stablecoins and tokenized treasuries lead adoption efforts. Against this backdrop, several RWA altcoins are standing out in May 2025, showing both technical momentum and renewed investor interest.
Stablecoins and Treasuries Lead RWA Adoption Wave
The collapse of Mantra has triggered a wave of reflection and caution across the Real World Asset (RWA) sector. As Andrei Grachev, Managing Partner of DWF Labs, puts it:
“The Mantra collapse is really a pivotal moment for the RWA sector. It has exposed some serious vulnerabilities in how these permissionless tokenisation platforms operate. I think we’re going to see investors getting much more cautious and selective about where they put their money now. Institutional players will probably start demanding much higher standards of due diligence, and regulators might step in with more scrutiny too.”
This event has clearly shaken confidence in the structure of some decentralized RWA models, pushing institutional and retail participants toward more regulated, vetted alternatives.
At the same time, the debate around RWA tokens’ potential to decouple from broader crypto market volatility is gaining momentum.
In response to Binance Research’s observation that RWA tokens have shown more stability than Bitcoin during tariff events, Edwin Mata, Co-founder & CEO of Brickken, said:
“True RWA tokens are backed by real-world value and governed by legal frameworks that enforce rights, obligations, and cash flows. In that sense, they behave more like traditional securities and can, over time, become more resilient to macro-level crypto volatility, especially during periods of market stress, regulatory shifts, or geopolitical shocks like tariffs.”
Shahaf bar Geffen, CEO and Founder of COTI, reinforced this emerging divergence by stating:
“We‘re already witnessing the early stages of that decoupling. RWA tokens are anchored to tangible assets—real estate, commodities, invoices—which inherently provide a stability layer absent in purely speculative cryptocurrencies. The potential for RWAs to hedge against macroeconomic volatility, such as tariffs or inflationary pressures, is significant.”
The macroeconomic case is strengthening, but the technological and institutional backing behind RWAs is also evolving quickly. Kadan Stadelmann, Chief Technology Officer at Komodo Platform, believes institutional adoption will be a decisive factor:
“The adoption by mainstream financial institutions will separate RWAs from the rest of the crypto index. No other crypto product will be as extensively adopted by mainstream finance as RWAs other than stablecoins, which I would argue are a type of RWA.”
Here are the top 3 RWA coins to watch in May.
Ondo (ONDO)
ONDO has climbed nearly 14% over the past 30 days, recently breaking above the $1 mark for the first time since March 6. This move has brought renewed attention to the token, as its market cap approaches the $3 billion threshold again.
However, this upward price action comes amid a broader contraction in the space. According to data from rwa.xyz, total RWA on-chain value currently sits at $16.6 billion, representing a 16.92% decline over the past 30 days.
Despite ONDO’s short-term strength, its technical indicators are flashing caution. A death cross has recently formed on its EMA lines—a pattern often associated with bearish momentum.
The first key support is $0.866. If that level breaks, ONDO could decline to $0.819, with deeper support at $0.73 and $0.663 if the downtrend accelerates.
On the upside, if sentiment reverses and ONDO manages to break above the $1.04 resistance, a push toward $1.20 could follow, opening the door for a stronger recovery.
Reserve Rights (RSR)
Reserve Rights is up nearly 41% over the past 30 days, riding a wave of renewed interest following its Coinbase listing and lingering associations with incoming SEC Chair Paul Atkins.
Despite Atkins having no active ties to the project today, his early advisory role has fueled trader speculation about potential regulatory tailwinds.
This narrative, combined with Binance’s top traders heavily going long, has positioned RSR as one of the more politically charged tokens in the current market.
The listing alone sparked a 9% intraday jump, helping bring RSR back into the spotlight after a long quiet phase post-2021 peak.
Technically, RSR is approaching a critical decision point. The token recently attempted to break the $0.0096 resistance level twice and failed, signaling the importance of that threshold.
A successful breakout could open the door to $0.011, and potentially $0.0137 if momentum builds. However, failure to hold current levels could trigger a correction toward $0.0084, with deeper support at $0.0071 and $0.0057.
TokenFi (TOKEN)
Real-world asset (RWA) platform TokenFi (TOKEN) has surged nearly 40% over the past seven days, pushing its market cap back to the $20 million mark.
The sharp rise comes despite a notable drop in trading activity, with 24-hour volume falling over 59% to $8.13 million.
The divergence between price appreciation and declining volume raises questions about the rally’s sustainability, but for now, TOKEN is regaining attention as a small-cap RWA narrative play in the altcoin market.
From a technical standpoint, TOKEN is approaching key resistance levels. If the bullish momentum continues, the token could test $0.024 and $0.0275, with a potential breakout target of $0.041.
However, any reversal could see TOKEN retrace toward the $0.0194 support level. If that fails, deeper downside levels lie at $0.0137 and $0.0112.
