Key Highlights

• BMW shares gained more than 6% following first-quarter performance that exceeded analyst projections for margins and cash generation
• Pre-tax earnings of €2.3B surpassed the €2.2B analyst estimate, even with a 25% year-over-year decline
• Automotive EBIT margin reached 5%, exceeding the projected 4.7%
• Automotive free cash flow surged to €777M, nearly doubling from the prior year as capital expenditures declined significantly
• The company reaffirmed its full-year automotive EBIT margin guidance of 4–6%

---

BMW delivered first-quarter 2026 pre-tax earnings of €2.3 billion, surpassing the analyst consensus estimate of €2.2 billion. Shares reacted positively, gaining over 6% during Wednesday’s trading session to reach approximately €82.

Consolidated revenue declined 8.1% to €31 billion, while EBIT tumbled 36% compared to the same period last year, settling at €2 billion. Despite these challenging headline figures, market participants focused on more encouraging underlying metrics.

The automotive division emerged as the performance driver. Its EBIT margin reached 5.0%, exceeding analyst expectations of 4.7% and remaining well within BMW’s annual guidance range of 4–6%.

Bayerische Motoren Werke AG, BMW.DE

The motorcycle division also delivered strong results, achieving an 11.4% margin.

Cash generation proved to be another positive catalyst. Automotive free cash flow climbed to €777 million—nearly twice the previous year’s level—supported by significantly reduced capital expenditure, which fell from €2.83 billion to €1.73 billion as electric vehicle platform investments began to plateau.

BMW projects full-year automotive free cash flow will surpass €4.5 billion.

The financial services segment represented the weakest area of the report. Pre-tax profit in this division declined 41% to €381 million, impacted by provisions related to a motor finance compensation program in the UK. Most analysts viewed this charge as non-recurring.

Delivery Volumes Face Headwinds

Worldwide deliveries decreased 3.5% to approximately 566,000 vehicles during the first quarter. China continues to present the most significant challenges—sales in that market fell 12.5% throughout 2025, and BMW anticipates volumes will remain essentially flat in 2026.

Battery electric vehicle deliveries contracted 20% during the quarter, reflecting changing consumer preferences and subsidy modifications across major markets.

US deliveries of BMW and MINI brands declined 4.3% to 90,492 units. The 25% US import tariffs on European vehicles present ongoing challenges, though BMW’s Spartanburg manufacturing facility in South Carolina offers partial mitigation.

Its Chinese-manufactured Mini vehicles continue to face EU anti-subsidy tariffs, adding costs in the low hundreds of millions of euros.

Stock Valuation and Expert Perspectives

At present price levels, BMW trades at approximately 6.4 times trailing twelve-month earnings. The stock’s 52-week trading range spans from €70.94 to €97.92, positioning it considerably below its recent peak.

An anticipated dividend of €4.40 per share is scheduled, with the ex-dividend date set for May 14—translating to approximately a 5.7% yield at current valuation.

Morgan Stanley confirmed its overweight recommendation, highlighting enhanced cash generation capabilities and favorable margin trajectory.

JP Morgan maintains an overweight stance with a €100 price objective. RBC Capital Markets holds a neutral rating with an €84 target, citing concerns around raw material pricing and foreign exchange volatility.

Bernstein reaffirmed its buy recommendation on May 4. The consensus analyst price target stands at €91.59, with 10 buy ratings and four sell recommendations among covering analysts.

BMW confirmed its annual guidance, projecting group pre-tax profit will decline an additional 5–9.9% from the €10.2 billion recorded in 2025.

Mercedes-Benz is scheduled to release its Q1 2026 results soon, providing a benchmark for evaluating how German luxury automakers are navigating comparable tariff pressures and China market challenges.

Bitcoin (BTC) buyers resumed their activity during the early Asian trading hours on Wednesday, pushing the price to a new multi-month high of $82,240.

Onchain indicators, including the short-term holder (STH) cost basis, suggest that the BTC price can go higher, with the next big target at $92,000. 

Key takeaways:

• Bitcoin holders are back in profit, increasing the chances of reaching $92,000.
• BTC bulls must overcome resistance at $84,000 to continue the uptrend. 

Bitcoin price eyes $92,000 next

Data from TradingView shows that BTC/USD had risen 37% to trade above $82,000 from its multi-month low of $60,000 reached on Feb. 6.

This rally has seen Bitcoin rise above the cost basis of its short-term holders, currently at $79,000, according to data from Glassnode.

STH cost basis refers to the average purchase price of investors who have held Bitcoin for less than 155 days.

Historically, reclaiming this level has coincided with extended recovery phases, as investors returning to profit are often less inclined to sell and more willing to add exposure. The shift can also attract fresh buyers and trigger short squeezes as bearish positioning unwinds.

Related: Bitcoin in ‘disbelief rally’ as traders spot $84K BTC price target

The chart below shows that when the price reclaimed its realized price in April 2025, it rallied 30% toward the upper band of this metric at $112,000 four weeks later. 

Similar occurrences in October 2024, October 2023 and January 2023 also saw the BTC price rally toward the same onchain level, as shown in the chart below.

If BTC breaks above the line, there is a good chance of seeing $92,423 in the short term, about 13% above the current price.

Bitcoin STH cost basis. Source: Glassnode

“Bitcoin has crossed the coveted ‘short-term holder breakout,’” analyst Mitchell Askew said in a Wednesday post on X, adding:

“This typically signals the end of bear markets and consolidation periods.”

Bitcoin analyst Plan C said if the price “can find sustained support above this level,” it would confirm that the 50% drawdown from the $126,000 all-time high was just a “mid-cycle correction.” 

Meanwhile, Bitcoin’s STH spent output profit ratio (SOPR) has flipped positive, showing early signs of a shift in market behavior.

The metric is “back above 1, which usually means recent buyers are back in profit and selling pressure is easing,” analyst BitBull said in a Wednesday post on X, adding:

“This is where markets often move from accumulation into early bullish phases.”

Bitcoin STH SOPR. Source: BitBull

As Cointelegraph reported, several technical indicators suggest that Bitcoin’s bottom is in, with analysts setting targets as high as $250,000 within a year. 

Bitcoin’s price needs to flip $84,000 into support

Bitcoin’s bullish weekly close above the 20-week exponential moving average and true market mean at $78,300 has convinced traders it can move higher from current levels.

Analysts say the continuation of Bitcoin’s rally now hinges on breaking above the $82,000-$84,000 supply zone. 

Bitcoin is retesting the low $80,000s region, which “corresponds with the November lows and the Daily 200MA/EMA coming in a bit higher,” trader and analyst Daan Crypto Trades said in his latest Bitcoin analysis on X.

Note that the 200-day EMA and the 200-day simple moving average are at $82,600 and $83,402, respectively.

This is a “big level” for Bitcoin bulls, the analyst said, adding:

“Acceptance higher can lead to a further bounce back into the $90Ks, but a rejection will likely keep this rangebound with $80K as the ceiling for a while.”

BTC/USD daily chart. Source: X/Daan Crypto Trades

MN Capital founder Michael van de Poppe shared a chart showing $84,000-$86,000 as the “next resistance zone,” which, if broken, could potentially see Bitcoin “continue to the 50-Week MA around $90K.”

Meanwhile, Bitcoin’s whale order book showed “big ask orders concentrated” between $82,000-$84,000, making it a crucial level for the bulls to overcome.

Bitcoin whale order book. Source: CoinGlass

As Cointelegraph reported, the BTC/USD pair may rise as high as $92,000 if resistance at $84,000 is broken.

This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research.

InsightX is expanding its on-chain safety toolkit with Atlas Live, a real-time token holder map designed to give traders immediate visibility into who holds and moves tokens. Announced from Odense, Denmark on May 6, 2026, Atlas Live builds on the widely used Atlas holder visualization and turns it into a live, decision-ready research engine. The platform is positioned as a first-of-its-kind real-time map, enabling continuous observation of holder activity without the need to refresh or wait for periodic updates.

Atlas Live integrates Atlas, a tool trusted by millions of traders for quick grasp of token ownership and clustering patterns that can reveal coordinated wallet activity. The live service expands Atlas’ reach by embedding itself into major DeFi gateways and dashboards, including Pump.fun, Axiom, Terminal, and GMGN. Its real-time data stream is designed to shorten the lag between discovery and action in a market where rapid moves can define outcomes for early investors and risk-averse participants alike.

Key takeaways

• Atlas Live delivers the world’s first live token holder map, letting traders watch wallets buy, sell and transfer tokens in real time.
• The platform removes the need for manual refreshing, providing instant visibility into distributions and movements as they happen.
• Historical mode enables researchers to rewind a token’s distribution, analyzing behavior at any moment to identify patterns beyond static snapshots.
• AI-powered detection uncovers hidden links and ownership structures, helping distinguish ordinary flows from potentially coordinated or malicious activity.
• Atlas Live is available across 15 ecosystems, including Solana, Ethereum, BNB Chain, and Polygon, enabling cross-chain analyses at scale.

Real-time data reshapes token research

The introduction of Atlas Live marks a shift from static holder maps to a continuously updated view of token ownership. In practice, traders can observe how large holders react to price moves, liquidity shifts, and newly minted supply, potentially signaling sell pressure or unusual accumulation long before a traditional dashboard would reflect it. Lasse Møller, CEO of InsightX, underscored the distinction between “real-time” in crypto and the everyday use of the term, noting that Atlas Live offers data without manual refreshes—the feed is live and instantaneous.

“The word ‘real-time’ gets used a lot in crypto, but it rarely means truly instant. With Atlas Live, there’s no refresh button, no delay. The data is just there – live, as it happens,”

Historical mode and deeper context

Beyond live observation, Atlas Live provides a historical lens. Researchers can rewind token distributions to study how early holders behaved and how a token’s ownership evolved over time. This capability helps answer questions such as when insider accumulation started, how it correlated with price action, and whether large transfers preceded liquidity events. The historical mode supports targeted investigations of specific moments rather than broad, one-off snapshots.

This capability is designed to support several practical objectives:

• Identify insider accumulation before a significant price move.
• Detect clusters of wallets that may indicate coordinated activity.
• Develop a chronological understanding of a token’s distribution trajectory.

AI-driven ownership insights

As on-chain networks grow more complex, the question of true decentralization becomes harder to answer simply by looking at holder counts. Tokens can appear widely distributed on paper, yet be controlled through a small set of entities or intermediary wallets connected by common funding streams. Atlas Live incorporates AI-powered detection to surface these hidden links, offering traders the context needed to distinguish normal market flows from suspicious patterns.

“Not everything is black and white. Large clusters of wallets can reflect legitimate exchange activity, but they can also signal coordinated behavior. Atlas Live helps traders understand that difference in seconds. Context matters,”

Speed, scope, and cross-chain reach

The platform blends speed with interpretive context, highlighting outsized movements by major holders and shifts in early liquidity that could precede a sell-off or rug pull. Atlas Live is built for immediacy and accuracy, with a cross-chain footprint spanning 15 ecosystems, including Solana, Ethereum, BNB Chain, Base, Abstract, XLayer, Monad, HyperEVM, Sonic, Avalanche, Sui, Tron, Polygon, Arbitrum, and Unichain.

About InsightX and Atlas Live

InsightX describes itself as a Web3 transparency and security platform that combines on-chain scanning with live holder maps to illuminate DeFi markets. Its Atlas visualization tool is a cornerstone product, already embedded in popular platforms such as Pump.fun and Axiom and used by a broad trading community. The Atlas Live rollout broadens the product’s reach by offering real-time, context-rich insights to traders, researchers, and ecosystem participants across multiple chains.

For readers seeking more information, InsightX maintains a public-facing presence with resources and documentation at its website and through Atlas Live’s dedicated app. Additional channels include the company’s social and community hubs where users can stay updated on new features and data capabilities.

Website: InsightX

Atlas Live App: Atlas Live App

X (formerly Twitter): @InsightXnetwork

Telegram: Telegram

Docs: Docs

Whitepaper: Whitepaper

Hyperliquid (HYPE) traded above $44.00 on Wednesday, extending its rally for a sixth consecutive session as rising derivatives activity and growing platform usage strengthened bullish sentiment around the exchange token.

The latest rally comes as investor confidence gradually returns to the broader crypto market, boosting both leverage exposure and user participation across the Hyperliquid ecosystem.

Hyperliquid sees rising retail demand and platform activity

CoinGlass data show HYPE futures Open Interest (OI) climbed to $1.75 billion on Wednesday from $1.62 billion the previous day, signaling an increase in leveraged positions and fresh capital entering the market.

The sharp rise in Open Interest suggests traders are increasingly positioning for additional upside as bullish momentum accelerates.

At the same time, DeFiLlama data indicate Total Value Locked (TVL) on Hyperliquid increased more than 2% over the last 24 hours to reach $1.556 billion, reflecting stronger inflows into the protocol.

Growing TVL is typically associated with rising user engagement and improving platform fundamentals, as more capital flows into decentralized finance applications built on the ecosystem.

Hyperliquid also continues to rank among the strongest-performing DeFi protocols by revenue generation.

Excluding stablecoin protocols, Hyperliquid currently leads the sector in seven-day revenue with $11.58 million, underscoring sustained trading activity and demand for the platform.

Technical outlook: HYPE targets a breakout above $50

Technically, Hyperliquid maintains a strong bullish structure as price action continues to trade comfortably above the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs), all of which continue to slope upward and reinforce the broader uptrend.

Momentum indicators also support the bullish outlook. The Moving Average Convergence Divergence (MACD) remains firmly in positive territory on the 4-hour chart, signaling sustained upward momentum, while the Relative Strength Index (RSI) hovers near 74, reflecting an overbought condition.

On the upside, the next key resistance level is the R1 Pivot Point near $45.52. A decisive breakout above this barrier would bring the broader descending trendline resistance near the psychological $50.00 level into focus.

A sustained close above the $50 region could trigger a stronger bullish continuation phase and potentially open the door for a broader medium-term rally.

On the downside, immediate support sits near the rising trendline around $40.00, followed by the 50-day EMA near $39.76.

Additional downside protection is seen at the 100-day EMA around $37.45 and the 200-day EMA near $36.45 if broader market conditions weaken and trigger a deeper correction.