American Bitcoin Corp. (NASDAQ:ABTC ) co-founder Eric Trump on Wednesday pointed to JPMorgan Chase & Co.'s (NYSE:JPM) shift in stance on Bitcoin (CRYPTO: BTC) as a major win for the cryptocurrency sector over traditional banking powerhouses. Trump Says Crypto ‘Won The Race' At CoinDesk's Consensus event in Miami, Trump stated that JPMorgan went from calling Bitcoin a “joke asset” to allowing institutional clients to use it as collateral for loans in just 18 months.
Bitcoin (BTC) is showing fresh signs of institutional caution after the ‘Coinbase premium' slipped back into negative territory, suggesting U.S.-based demand is weakening relative to offshore markets even as exchange flows hint at only tentative positioning. According to on-chain analytics firm CryptoQuant, preliminary data for May 7 UTC showed Bitcoin netflows on Coinbase Advanced at a modest +26 BTC.
Bitcoin price started a fresh increase and cleared the $81,200 zone. BTC is consolidating and might aim for more gains above the $82,500 level.
Bitcoin is pushing toward $82,000 as the market tests a resistance level that has capped every recent attempt at higher prices. The recovery from the March lows has been constructive, but the next meaningful move requires breaking through overhead that has so far absorbed every bullish effort.
Real estate investor Grant Cardone revealed at the Consensus Miami 2026 conference that he recently added another $100 million worth of bitcoin to his companys portfolio, further expanding a hybrid investment strategy that combines BTC with income-producing real estate assets. Speaking during a fireside chat, Cardone explained that the latest bitcoin acquisition was tied to a $235 million real estate deal.
Samourai Wallet co-founder Keonne Rodriguez has publicly appealed to Bitcoin holders for financial assistance as he serves a federal prison sentence tied to crypto-related charges. Rodriguez revealed through a post on X that his family is struggling with more than $2 million in legal debt following his conviction for operating an unlicensed money-transmitting business.
The White House is expected to reveal new details about the US Strategic Bitcoin Reserve in the coming weeks, according to senior digital assets official Patrick Witt. Speaking at the Consensus Miami conference, Witt said the Trump administration has made major progress behind the scenes regarding the Bitcoin reserve and the broader US digital asset stockpile.
Peter Schiff has intensified his criticism of MicroStrategy and its preferred stock offering, STRC, describing the structure as a pure Ponzi scheme tied to Bitcoin. The longtime gold advocate argued that the companys growing dependence on fresh capital and dividend obligations could eventually lead to financial instability.
Bitcoin (BTC) spot ETF investors in the U.S. have effectively “caught up” to the market after enduring their deepest paper losses since launch, with on-chain data showing the cohort's average cost basis now sitting near $82,000—roughly in line with BTC's current trading range. As of Wednesday ET, Bitcoin was changing hands around the $82,000 level.
More than $4 billion in long positions now sit within striking distance of liquidation near $77,000 — a figure that underscores just how much is riding on Bitcoin holding its current footing above $80,000. Related Reading: David Schwartz Says Selling XRP Doesn't Make Him The Villain Bears Keep Rebuilding, Keep Getting Burned Data tracked by Bitcoin researcher Axel Adler Jr. shows that close to $8 billion in short positions have been forcibly closed since early February, with the largest single-day spike hitting $737 million on Feb. 13.
I have followed Bitcoin since 2015. I have heard, read, and sometimes defended almost every popular thesis: digital gold, the new global payment system, the ultimate inflation hedge, the replacement for the dollar.
Bitcoin just crossed 61% market dominance. That's a big jump.