With bitcoin trading above the $80,000 threshold, bitcoin prices in South Korea have carried premiums approaching 2%, marking their highest level since late February. The move follows a choppy stretch since that period, during which both notable discounts and elevated premiums emerged across the past nine weeks.
Bitcoin's price recovery is not a new beginning: it is a familiar ending. That is the warning from a crypto analyst, who is of the notion that the current Bitcoin price action is playing out a bull trap the market has seen before and that the setup is pointing to a destination that sees the cryptocurrency crashing by almost 50% from current price levels.
Bearish MACD crossover on BTC dominance chart fuels growing speculation of a broader altcoin rally ahead.
This week, Bitcoin saw a significant surge in bullish momentum, driving its price from $78,000 to as high as $82,855. While the flagship cryptocurrency has pulled back from this local high, it is yet to shift towards a bearish structure.
Bitcoin is presently trading above $80,000, as market bulls sustain the rebound from early April. However, the flagship cryptocurrency remains firmly in bear-market territory, down roughly 37.5% from its all-time high.
Campaign founder Yves Bennaim isn't giving up. Even after his group failed to gather enough signatures to force a Swiss national referendum on Bitcoin reserves, Bennaim said another push could follow.
CME Group announced this week it plans to launch Bitcoin Volatility futures (BVI) on June 1, 2026, giving institutional traders their first CFTC-regulated contract to trade bitcoin's expected price swings independently of price direction.
Seven of the largest names in bitcoin mining formally joined the Stratum V2 Working Group this week, signaling the clearest industry shift yet toward miner-controlled transaction selection. 7 Bitcoin Mining Pools Back Stratum V2 as Miners Push for Block Template Control Antpool, F2pool, Foundry, Spiderpool, Block Inc.
STRC momentum revives expectations of Bitcoin buying in an equity-driven market.
Matthew Sigel of VanEck said Bitcoin could reach $1 million by the next US Presidential term. That puts a 1,150% increase as a 2031 target inside a market that is still trying to prove it can hold the $80,000 area.
After multiple weeks hovering below $80,000, Bitcoin finally broke above the psychological level on Monday, May 4th. The premier cryptocurrency enjoyed a significant surge in bullish momentum, pushing its price to as high as $82,000 over the past week.
A third-party provider failure caused Revolut's app to show wildly inaccurate crypto prices on Friday, the company confirmed, after users flooded social media with screenshots of Bitcoin listed at just 2 cents. Related Reading: Bitcoin Supply Shock: 100,000 BTC Vanish From Exchanges In Under 90 Days Third-Party Provider Blamed For Pricing Chaos Revolut acknowledged the problem in a public statement, saying engineers were working on a fix and urging customers to check its status page for updates.