A mixed market may be on the cards as it stands.
Tom Lee, Fundstrat's co-founder and Bitmine's chairman, declared at Consensus 2026 in Miami on May 7 that the cryptocurrency bear market has concluded.
Solv deprecates LayerZero bridges and standardizes on Chainlink CCIP to secure SolvBTC cross-chain transfers
Germany has prepared plans to tighten cryptocurrency taxation from 2027, putting the country's long-standing tax-free holding benefit for Bitcoin and other digital assets under renewed scrutiny.
On-chain data shows the steepest wallet drop in two years as futures positioning tilts heavily long.
The world's largest cryptocurrency experienced a sharp decline Friday as geopolitical tensions erupted between the United States and Iran in the strategically critical Strait of Hormuz, triggering widespread concern among digital asset and equity investors.
Bitcoin slipped beneath the $80,000 threshold on Thursday following a rejection near $82,800, ultimately testing a low of $79,800. This pullback occurred even as spot ETF demand recorded its strongest weekly performance in months, exceeding $1 billion in net inflows.
Capital rotated into 'stablecoins' and 'wrapped assets' over the past 24 hours, while the two largest cryptocurrencies—Bitcoin (BTC) and Ethereum (ETH)—saw sizeable net outflows, underscoring a defensive shift in positioning amid shifting market liquidity. According to Cryptometer data as of Thursday 03:35 UTC, Bitcoin (BTC) recorded approximately $1.9 billion in inflows and $2.2 billion in outflows over the prior 24 hours, resulting in a net outflow of $329.6 million.
Bitcoin is trading above $80,000 as the market prepares for what is shaping up to be a decisive directional move. The recovery from the recent correction has been meaningful — but a CryptoQuant report has identified the specific mechanism that prevented the decline from becoming considerably worse, and understanding it changes how the current price level should be read.
Bitcoin (BTC) balances held on major centralized exchanges continued to decline Thursday, alongside a sharp shift in trading activity toward Asia and Europe—signals that typically point to changing 'liquidity conditions' and repositioning by large traders. Data from CoinGlass showed that as of May 8 at 01:55 UTC, total BTC reserves across leading exchanges stood at roughly 2,451,555 BTC.
Bitcoin price started a fresh decline below the $81,200 zone. BTC is correcting gains and might struggle to stay above the $78,800 support.
An analysis shared by Cryptoquant indicates bitcoin must reclaim and hold $88,880 before traders can confirm a BTC bottom. UTXO age bands identified several realized price levels where trapped buyers could add resistance during recovery attempts.