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Bitcoin trades near $78,000, stuck under $80,000. May’s key events – Strategy earnings, Fed chair change, Iran cease‑fire, and ETF flows – could push it higher
Bitcoin hovered around $78,000 on May 30, unable to break the $80,000 ceiling that has repelled it for two weeks, while four May events – Strategy’s earnings report, the Fed chair transition, a potential Iran cease‑fire, and Bitcoin ETF inflows – loom as price drivers【1】.
| At a glance | |
|---|---|
| Price | $78,000 |
| 24‑h change | +0.3% |
| Key level | $80,000 resistance |
| Catalyst | May earnings, Fed chair, Iran war, ETF flows |
Bitcoin’s price rose 14% in April, the strongest monthly gain in its history, yet it has stalled just shy of $80,000. The 200‑day moving average sits at $82,228, a barrier not breached since October 2025, and the next resistance lies at $85,000【1】. On‑chain data show whales (wallets ≥1,000 BTC) accumulated 270,000 BTC in the past 30 days – the biggest monthly haul since 2013 – while Bitcoin held on exchanges fell to a seven‑year low, echoing the pre‑$20,000 breakout in 2017【1】.
Strategy earnings (May 5). MicroStrategy will disclose Q1 results, revealing a $14.46 billion unrealized loss on its 818,334 BTC holdings. Its average cost of $75,537 per BTC sits just below today’s price, meaning the report could signal the end of its buying streak and remove a major demand source【1】.
Fed chair transition (May 15). Jerome Powell’s final day as Fed chair coincides with a Senate vote on his successor, Kevin Warsh. Markets will watch Warsh’s tone for signs of a weaker dollar, which historically supports Bitcoin above $80,000 in May【1】.
Iran cease‑fire outlook. An updated peace proposal on May 1 sparked a 5% drop in U.S. crude futures, but the Strait of Hormuz remains partially closed. If oil prices fall below $90 /barrel, broader market risk appetite could lift Bitcoin; a resurgence to $130 /barrel would likely pressure the crypto market downward【1】.
ETF inflows. April saw $2.44 billion flow into Bitcoin ETFs, with BlackRock’s IBIT capturing 70% of that volume. However, the last three weeks of April ended with $491 million of outflows. A return of inflows in early May could provide the momentum needed to breach $80,000【1】.
Bitcoin’s inability to clear $80,000 keeps it in a tight range where short squeezes and whale buying may decide the next move. The outcome of May’s macro and institutional catalysts will determine whether the crypto king finally breaks upward or slides toward the lower support band.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 2 outlets · Jun 17, 2026 · How we report
Bitmine Immersion Technologies held 5,956,378 Ethereum tokens as of late August 2026. These holdings are valued at approximately $14.89 billion.
Bitmine Immersion Technologies holds approximately 4.9% of the total Ethereum supply as of late August 2026. The company is approaching a stated goal of owning 5% of the total supply.
Yes, approximately 85% of the Ethereum held by Bitmine Immersion Technologies is currently staked. This staking activity is projected to generate $334 million in annualized revenue for the company.
Ethereum is described as the best-performing macro asset during the third quarter of 2026, according to statements from Bitmine Chairman Tom Lee. As of late August 2026, Ethereum outperformed the S&P 500 by 5,866 basis points.