Bitcoin (BTC) — Onchain News & Whale Tracking

American Bitcoin has used BTC as collateral to purchase Bitmain miners, implying a discount of around 44%.

On May 8, American Bitcoin announced it has secured a mining machine purchase agreement with Bitmain featuring an implicit 44% discount via BTC collateral. Per its latest quarterly filing, the company bought 11,298 Bitmain S21 XP ASIC miners in February for roughly $49.4 million, totaling 3.05 exahashes per second (EH/s) of hash rate. Eighty percent of the payment was covered by pledging 314 BTC and a two-year redemption arrangement. At the time, the pledged BTC was valued at ~$125,900 per coin under the agreement, while BTC’s market price was under $70,000. Under the deal terms: - Bitmain may not sell the pledged BTC during the ~24-month redemption period unless American Bitcoin waives redemption. - If BTC’s price exceeds the agreed valuation, American Bitcoin can redeem the BTC with cash and retain the appreciation. - If BTC falls below the agreed valuation, the company can choose to forgo redemption, letting Bitmain hold the devalued BTC. As of March 31, American Bitc

Block Reports Strong Q1 Performance and Raises Full-Year Performance Outlook, But Records $173 million Bitcoin Revaluation Loss

**May 8th** Jack Dorsey’s Block posted a $173 million revaluation loss in the first quarter (Q1) due to Bitcoin price swings, pushing its net loss attributable to common stockholders to $309 million. The company holds 28,355 bitcoins, valued at roughly $2.2 billion. Despite the non-cash loss, Block’s Q1 total revenue rose 27% year-over-year to $2.91 billion. Cash App revenue jumped 38% to $1.91 billion, while its Bitcoin segment fell 31%. Square’s Bitcoin business was nearly flat, with revenue of ~$28 million offset by roughly matching costs—leaving negligible impact on gross profit. Adjusted operating profit climbed 56% to $728 million, and adjusted earnings per share (EPS) rose 52% to $0.85. Block lifted its full-year outlook: it now projects 19% year-over-year growth in 2026 full-year revenue, with adjusted diluted EPS up 62%.

JPMorgan: Bitcoin Buying Scale by Strategists This Year Could Reach $30 Billion

May 8 — JPMorgan Chase said Wednesday that its Bitcoin Strategy could hit roughly $30 billion in annual purchases this year, based on the current pace of buys, topping the approximately $22 billion levels seen in 2024 and 2025. The strategy has already added 145,834 bitcoins so far this year, valued at around $11 billion. Most of those purchases occurred when Bitcoin’s price was below the strategy’s average entry price of roughly $75,000. JPMorgan also noted the strategy’s premium to net asset value (NAV) has widened to about 26% over the past two months, which has helped it expand holdings via equity and debt financing.

Bitcoin Falls Below $80,000, 24-hour Decline of 1.9%

May 7: Bitcoin dropped below $80k, with a 1.9% decline over the past 24 hours, per HTX market data.

A newly created address withdrew over $200 million worth of Bitcoin from Binance

On May 7th, per Onchain Lens data, a newly created crypto wallet withdrew 2500 BTC from Binance—valued at approximately $202.36 million.

Core Scientific sold 2,385 bitcoins in Q1 to fund its transition to an AI data center

May 7, 2026 — Crypto mining firm Core Scientific (CORZ) reported a first-quarter 2026 loss of $347.2 million, sold 2,385 bitcoins (valued at $208.3 million), and completed a $3.3 billion bond issuance to fund its shift to AI data center operations. Proceeds from the Bitcoin sale were used to cover capital expenditures and other cash needs, the company noted. In its latest financial report, Core Scientific posted total revenue of $115.2 million. AI data center hosting revenue surged from $8.6 million in the year-ago quarter to $77.5 million, now its top business segment. Meanwhile, the firm’s cryptocurrency mining revenue dropped from $67.2 million to $30.1 million, dragged down by a 45% decline in Bitcoin mining volume and an 18% fall in the average Bitcoin price.

Analysis: Bitcoin Still Faces Three Layers of Overhead Resistance, Recent Capitulation at $88,880

On May 7, CryptoQuant data shows Bitcoin is currently holding above $80,000, but three groups of long-term holders with positions above current levels are creating key resistance. - 3-6 month realized price: $88,880 (first sell wall) - 12-18 month realized price: $93,450 (second barrier) - 6-12 month realized price: $111,850 (heaviest chip concentration, 29% above current levels) Analysis notes Bitcoin will confirm a bottom only if it breaks above $88,880 and holds that level. This would put the most recent group of long-term holders back in profit and remove the first layer of selling pressure.

BIT has released a new roadmap, planning to build the "Bitcoin Security Budget Layer" to promote the openness of the mining reward mechanism

On May 7th, BIT—the ecosystem project behind the Bitcoin TAP Protocol—unveiled a new roadmap, outlining a focus on building a "Bitcoin Security Budget Layer" and exploring ways to provide additional incentive sources for Bitcoin miners via a token issuance mechanism. The BIT team noted that under the current TAP Protocol, only the NAT token can be distributed to miners via the protocol’s built-in mechanism. The associated logic is hard-coded into the protocol’s source code, applying solely to dmt-nat—meaning other DMT projects cannot access this feature. Additionally, the TAP Protocol has not yet publicly released the results of a third-party security audit. Reportedly, BIT previously submitted an upgrade proposal to TAP’s official team, seeking to open the miner subsidy mechanism to all DMT tokens—but the proposal was not accepted. Per the new roadmap, BIT intends to fork the TAP Protocol for development and launch a new framework. This framework will let DMT projects customi

Bitcoin Holds Strong Above $80,000, Coinbase Bitcoin Premium Index and Fund Flows Signal Potential Pullback Trend

On May 7, per Coinglass data, Bitcoin has held above $80k recently—but Coinbase’s Bitcoin premium index has flipped negative. The index remained positive for most of April. Additionally, the IFP index (which measures market participants’ risk appetite and fund flow direction) has fallen below its 90-day moving average. This signals some Bitcoin is shifting from derivative exchanges back to spot markets, pointing to waning speculative interest and risk aversion—typically tied to bearish sentiment.

Yesterday, the US Bitcoin Spot ETF saw a net inflow of $46.2 million, while the Ethereum ETF saw a net inflow of $11.5 million.

May 7: US Bitcoin spot ETFs recorded net inflows of $46.2 million yesterday, per Farside Investors data. Fund-specific flows: - BlackRock IBIT: +$134.6M - Fidelity FBTC: -$39.0M - Bitwise BITB: -$25.2M - Franklin EZBC: -$7.1M - Grayscale GBTC: -$17.1M Additionally, US Ethereum spot ETFs posted net inflows of $11.5 million yesterday. Fund breakdown: - BlackRock ETHA: +$2.1M - Fidelity FETH: -$0.6M - Grayscale Mini ETH: +$10.0M

Arthur Hayes: Bitcoin Price Driven by Liquidity, Not Regulatory Developments

On May 7th, BitMEX co-founder Arthur Hayes spoke at the Consensus 2026 conference, sharing key views on Bitcoin and crypto regulation: - The crypto industry doesn’t need regulation—since it’s largely irrelevant to Bitcoin’s core value proposition. - Bitcoin’s price hinges on two factors: technical reliability and fiat liquidity, with the latter being the true driver. - Every round of monetary expansion has aligned with Bitcoin’s sharp surges: Obama-era quantitative easing, Trump’s first-term “helicopter money,” and Biden-era Treasury Secretary Yellen’s ~$2.5 trillion reverse repo funding (via short-term debt replacing long-term debt). - Even as the Trump administration signed crypto bills and sent clear regulatory signals, Bitcoin dropped ~25% in 18 months—proving regulatory favorability doesn’t directly boost prices; liquidity is fundamental. - The Trump family’s past struggles with bank de-risking, asset freezes, and lawsuits led them to see Bitcoin as a state-control-free

Analysis: Binance Bitcoin Inflow CDD hits highest level since early 2023, Long-Term Holder Addresses are Realizing Profits

On May 7, crypto analytics firm Cryptoonchain announced via social media that Bitcoin’s Coin Days Destroyed (CDD) on Binance has hit its highest level since early 2023. Dormant Bitcoin has begun moving, signaling profit-taking by long-term holders and whales in the $78,000–$80,000 price range. The sharp jump in CDD suggests older Bitcoin is flowing into the exchange, pointing to rising selling pressure. Historically, this behavior has often preceded short-term volatility or a local price top. April’s peak inflow already signaled early distribution across the market; if buying demand fails to absorb this supply, Bitcoin could face a strong supply wall.

The probability on Polymarket of the "Sell Any Bitcoin Before the End of the Year" strategy has surged to 49%.

On May 6, Polymarket data shows the probability that Strategy will sell any amount of Bitcoin by year-end has jumped sharply to 49%—up from just 12% on May 5. Additionally, the odds of any Bitcoin sales by May 31, 2026, stand at 17%, while the figure rises to 26% for June 30, 2026. This shift follows Strategy founder Michael Saylor departing from his longstanding "never sell" stance for the first time. During the company’s Q1 2026 earnings call, he noted the possibility of offloading a portion of its Bitcoin holdings to fund dividends, saying: “We might sell some Bitcoin to pay dividends, with the aim of market desensitization and signaling that we have indeed done so.”

Core Scientific has invested $421 million to acquire the Bitcoin mining firm Polaris to expand its AI data center.

On May 6, Core Scientific announced the acquisition of Oklahoma-based Bitcoin mining firm Polaris DS LLC for $421 million. The deal grants Core Scientific access to Polaris’s 440-megawatt power contract with Oklahoma Gas & Electric— a move aimed at accelerating its AI business expansion. The transaction is expected to close in Q3 2026. Currently, Core Scientific is retrofitting and expanding existing mining facilities in Texas, Georgia, North Carolina, and Oklahoma to support high-density hosting services for AI and compute-intensive workloads. The company has broken ground on an 82.5-megawatt facility in Muskogee, with plans to eventually offer 1 gigawatt of leasable power at the site.

CleanSpark April Production: Mined 640 Bitcoins, Sold 748 Bitcoins

Bitcoin mining company CleanSpark on May 6 released its April operational update, reporting it produced 640 bitcoins in the month and sold 748 bitcoins at an average price of $74,807 each. As of April 30, CleanSpark holds 13,453 BTC, operates at a hash rate of 50 exahashes per second (EH/s), and has deployed 224,473 mining rigs. Additionally, the company has secured contracts for a total power capacity of 1.8 gigawatts (GW), is actively advancing its Megawatt AI infrastructure platform, and is pursuing its first large-scale AI client.

Analysis: Bitcoin needs to break above the $84,000 resistance level to continue its upward trend, with the next target price being $92,000

May 6: Bitcoin (BTC) still has room to climb, with on-chain metrics tied to short-term holder (STH) cost basis pointing to a next key target of $92,000, per recent data. The rebound has pushed BTC above its STH cost basis—Glassnode figures put this level at $79k currently. The STH cost basis tracks the average purchase price for investors holding BTC for less than 155 days. Historically, breaking above this level has kicked off an extended recovery phase: it prompts holders to hold or add to positions to maximize gains, acts as a catalyst for a macro uptrend, draws in new buyers, and forces short sellers to cover (with shorts still skeptical). Chart data shows BTC rallied 30% over four weeks after reclaiming its realized price in April 2025, heading toward the upper bound of that metric at $112k. Similar patterns in October 2024, October 2023, and January 2023 also sent BTC to that same on-chain level. A break above this line could trigger a short-term rally to ~$92,423—about 13%

Analyst: Bitcoin Key Upside Target Price Around $93,000

On May 6th, a CryptoQuant analyst noted that $93,000 is a critical upward target for Bitcoin. The CME gap isn’t a guarantee—rather, it’s a signal: these gaps represent a zone where trading positions, liquidity, and market psychology intersect, making it a key reference point for future price action.

Bitcoin Surges Above $82,000

Bitcoin has surged above $82,000 as of May 6th, per HTX market data, now trading at $82,000 with a 24-hour gain of 1.76%.

Colombian President Proposes to Develop Caribbean Coast into Bitcoin Mining Hub

May 6 – Colombian President Gustavo Petro said in a social media post on Tuesday that Caribbean coast cities including Barranquilla, Santa Marta and Riohacha have the potential to become Bitcoin mining hubs. He proposed leveraging the region’s abundant renewable energy to attract foreign investment and boost economic development, adding Colombia’s largest indigenous community—the Wayúu—could be co-owners of such projects. Petro noted similar models have succeeded in Venezuela and Paraguay. Paraguay, which relies on hydroelectric power from the Itaipu Dam, currently holds 4.3% of the global Bitcoin hash rate, ranking as the world’s fourth-largest mining nation after the U.S., Russia and China. A World Bank report from April 2024 found 75% of Colombia’s electricity comes from renewable sources—more than double the global average. Petro said using this clean energy would ease concerns about global warming that were previously exacerbated by fossil fuel-dependent Bitcoin mining.

Yesterday, the US Bitcoin Spot ETF saw a net inflow of $467 million, while the Ethereum ETF saw a net inflow of $97.5 million.

On May 6, per data from Farside: - U.S. Bitcoin spot ETFs saw net inflows of $467 million yesterday, broken down as: BlackRock IBIT: +$251M Fidelity FBTC: +$133M Bitwise BITB: +$14.6M ARK ARKB: +$92.3M VanEck HODL: -$5.8M Grayscale GBTC: -$18.4M - U.S. Ethereum spot ETFs recorded net inflows of $97.5 million yesterday, with the following breakdown: BlackRock ETHA: +$69.5M BlackRock ETHB: +$2.4M Fidelity FETH: +$24.2M 21Shares TETH: +$1.4M

First Time Ever Talking About Selling Coins! Michael Saylor Breaks 'Never Sell' Stance, May Sell Bitcoin to Pay Dividends

On May 6, MicroStrategy founder Michael Saylor broke his longstanding "never sell your Bitcoin" stance for the first time during the company’s Q1 2026 earnings call livestream, saying the firm may sell a portion of its Bitcoin holdings to pay a dividend. "We might sell some Bitcoin to pay a dividend—aimed at desensitizing the market and signaling we’ve done so," he stated. Saylor has long publicly championed the "never sell Bitcoin" mantra, repeating it on CNBC, Bloomberg, and Twitter, and even pledging to donate his Bitcoin to Bitcoin-supporting organizations posthumously. To date, MicroStrategy’s treasury has not sold a single Bitcoin, cementing that commitment in public perception. In its April 2025 10-K filing with the SEC, MicroStrategy included a risk disclosure: without new financing, the company could be forced to sell Bitcoin to cover financial obligations. That sparked market speculation Saylor was poised to sell, but he immediately denied it, calling the scenario "h

Korean publicly traded entertainment company K Wave Media has terminated its Bitcoin treasury strategy to pivot to AI infrastructure

**May 6 – South Korean entertainment firm K Wave Media has filed with the U.S. SEC to repurpose up to $485 million of its original $500 million planned Bitcoin purchase toward a $5 billion total financing package for AI infrastructure.** The funds will be allocated to data centers, GPU computing, and AI-related acquisitions. The company’s CEO stated the goal is to “become a key player in the fast-growing AI infrastructure sector” and plans to rebrand the firm as “Talivar Technologies.” Market response has been tepid: the stock fell 24% on Monday, with an additional 4% decline in pre-market trading.

A whale shorted $20.32 million worth of Bitcoin, with a liquidation price of $82,236.61

On May 6th, per LookOnChain monitoring, trader 0x128e has just deposited ~500,000 USDC to HyperLiquid, shorted 250 BTC with 40x leverage (totaling $20.32M), with a liquidation price of $82,236.61.

Labour Day Holiday News Summary: Iran Reports Ceasefire Position, Bitcoin Surges Back Above $81,000, US Stocks Storage Sector Soars

May 6 Summary: May Day Holiday Highlights - Alphabet rose 10% on May 1, with its share price hitting $384.80. The one-day market cap jump reached $421 billion, marking the second-largest single-day market cap increase in history. - Iran notified regional countries of its ceasefire stance, pushing crude oil prices lower while gold and silver prices rose. - Elon Musk revealed he offered $97.4 billion to acquire OpenAI on February 25 (25 years ago) but was rejected. - Tether reported a $1.04 billion profit in Q1, with its assets hitting a record $8.232 billion. - Hyperliquid launched the first HIP-4 binary prediction market contract. - GameStop plans to make a takeover bid for eBay. - The "CLARITY Act" stablecoin yield rules have been finalized, entering the "launch phase." - Tom Lee believes the "Crypto Spring" has begun, and the CLARITY Act’s compromise solution is generally acceptable. - Telegram’s founder promoted TON, stating that Telegram will replace the TON Foun

French chipmaker Sequans sold 1,025 bitcoins in the first quarter

May 6 — French chipmaker Sequans Communications sold off 1,025 bitcoins in Q1 2026, slashing its crypto holdings nearly in half: from 2,139 at the end of 2025 to 1,114 by end-April. The company posted a net loss of $54.3 million in the quarter, while operating losses widened sharply—from $7.3 million in the year-ago period to $50.5 million.

CME Plans to Launch Cash-Settled Bitcoin Volatility Futures

On May 6, CME Group announced plans to launch cash-settled 30-day Bitcoin volatility futures on June 1, pending regulatory approval. The product will enable traders to directly trade or hedge BTC volatility without betting on Bitcoin’s price direction. The trading symbol is expected to be BVI, with a contract size of $500 multiplied by the value of the CME CF Bitcoin Volatility Index (BVX) — the index used for settlement. BVX is a 30-day implied volatility index based on the order books of CME’s CFTC-regulated Bitcoin and Micro Bitcoin options.

Q1 Earnings Report: Net Loss of $12.54 Billion, Holding Approximately 818,000 Bitcoins

May 6 — Strategy today released its Q1 2026 financial report, highlighting key updates on its Bitcoin holdings, STRC digital credit product, and quarterly performance. As of May 3, 2026, the company holds 818,334 bitcoins—an 22% year-to-date (YTD) increase. Its realized Bitcoin return rate stands at 9.4%, with quantity-driven dollar gains from Bitcoin holdings totaling approximately $49.7 billion. Strategy has raised over $116 billion via market-price share issuances and its STRC digital credit product. STRC has seen 189% YTD growth, with $55.8 billion in total fundraising. In just nine months, STRC’s market capitalization has hit $85 billion, making it the world’s largest preferred stock by market cap. The product boasts a daily average trading volume of $375 million, volatility of only 3%, and a Sharpe ratio of 2.53—holding positions in corporate treasuries and decentralized finance (DeFi) protocols. For Q1, total revenue reached $12.43 billion (up 11.9% year-over-year), wit

Bitcoin Surges Above $81,000 Triggering Debate: Super Cycle or Bear Market Rally?

May 5th. Bitcoin gained roughly 3.5% this week, hitting a fresh January high of $81,325. Market sentiment is sharply divided on the current price action: some analysts call it the start of a "super cycle," while others peg it as a bear market rally. Several analysts note that ongoing institutional accumulation could push Bitcoin to $180,000–$200,000 over the next year, with long-term potential in the $250,000 range. This depends on the price holding above the mid-term support level of ~$60,000; a break below would undermine the super cycle thesis. From a technical standpoint, Bitcoin is currently testing a key resistance zone between $80,000 and $82,000—reinforced by the 200-day moving average and the upper bound of a descending channel. This area has historically acted as strong resistance. A failure to break above decisively could trigger a short-term pullback to $70,000–$72,000, or an extreme dip to $50,000. Analysts also note the current market structure shows institutio

Funding Rate Negative for 66 Consecutive Days, Bitcoin Rises to Near $81,000, Institutional Hedge Driving Force

May 5: As Bitcoin traded near $81,000, its perpetual contracts’ 30-day average funding rate remained negative for 66 straight days—marking the longest such streak in a decade. In a negative funding rate environment, short positions pay fees to long positions, with the current annualized cost at roughly 12%. Still, Bitcoin gained ~12% in April, while open interest (OI) climbed ~12% as well—suggesting the market avoided typical panic selling. Analysts note the trend stems largely from institutional hedging, not just bearish sentiment. This includes: hedge funds shorting futures amid redemption windows; basis trading (going long on associated stocks while shorting Bitcoin); and mining companies hedging Bitcoin holdings as they shift to AI mining operations. Historical data shows buying Bitcoin during comparable negative funding rate periods yields positive 90-day returns 83% to 96% of the time. Market consensus holds that a decisive break above the ~$82,000 key resistance level o

Bitcoin Rebounds 30% from Lows, Institutions Predict Market Cap of $16 Trillion by 2030 'Super Cycle'

On May 5th, Bitcoin jumped ~30% from its recent low near $60k, fueling market chatter about a new "super cycle." In a recent report, ARK Invest noted Bitcoin is emerging as a core asset class for next-gen institutions. It projects the crypto’s market cap will grow at a ~63% compound annual rate over the next five years—climbing from its current ~$2 trillion to $16 trillion by 2030, and making up ~70% of the total crypto market. The report also forecasts the overall crypto market could hit $28 trillion by 2030, with smart contract networks (like Ethereum and Solana) taking the remaining share. Cathie Wood has previously predicted Bitcoin’s price could reach $300k to $1.5M by 2030. Key drivers include Bitcoin potentially capturing 40% of gold’s market value and accelerating asset tokenization trends. Industry takes also highlight tokenization as a key narrative. Robinhood CEO Vlad Tenev says the market is still in the early days of the "tokenization super cycle," while BlackR

Analysis: Positive factors such as increased accumulation by long-term holders and institutional investor buying have driven Bitcoin to rise to $95,000

May 5 (Tuesday) — Bitcoin rallied to a high of $81,300 on Tuesday, posting weekly and 30-day cumulative gains of 5% and 21%, respectively. Per CryptoQuant data, long-term holders have accumulated a net 331,000 BTC over the past 30 days (based on a moving average), worth roughly $26.7 billion at Tuesday’s market price. That’s nearly 1.6% of Bitcoin’s total supply, signaling increased accumulation amid the price recovery. Bitcoin’s rally has coincided with strong inflows into U.S. Bitcoin spot ETFs: $1.18 billion in net inflows over the past three consecutive days, including $532 million on Monday—underscoring growing institutional interest in BTC. MN Capital founder Michael van de Poppe noted on X Tuesday: “ETF inflows are back, a bullish signal for Bitcoin. I expect more inflows in the coming weeks as ETF demand remains strong.” Earlier reports have shown institutions are absorbing over five times the daily newly mined BTC supply. The $84,000 level is a key focus for trader

Polymarket's prediction market for "Bitcoin to Rebound to $100,000 this Year" sees probability surge to 46%

On May 5, as Bitcoin topped $80k, Polymarket’s odds of Bitcoin hitting $100k this year rose to 46% (up from 30% on April 5). Additionally, BTC’s odds of reaching $90k this year stand at 68%, while the chance of it dropping to $50k is 37%.

Analyst: Bitcoin has a significant on-chain support at $78,000, with a strong resistance at $82,000 and a key hurdle at $87,000 once $82,000 is breached.

May 5 Crypto analyst Murphy tweeted that BTC is filling an on-chain gap dating back to Nov 2024. The recent on-chain cluster sits around $78k, with ~423,000 BTC traded—signaling big institutional investors are stepping in to support. Notably, on-chain activity has plummeted between $79k and $80k, likely because this zone is near key psychological levels and resistance, leading some investors to sit on the sidelines. An unfilled on-chain gap remains between $81k and $82k; prices are expected to consolidate here until on-chain transactions fully turnover, then target higher levels. Murphy emphasized the $83k-$84k on-chain cluster stems mostly from Coinbase custody wallet moves and isn’t a major resistance. If BTC holds above $82k, the real upper resistance will be the on-chain cluster north of $87k.

Grayscale: Quantum Computing Not the Primary Driver of Bitcoin Price Volatility

**May 5 Update: Grayscale Says Quantum Computing Not Behind Recent Bitcoin Drop** Grayscale issued a statement on May 5 noting that while advanced quantum computers pose a long-term threat to traditional cryptography—and support major blockchains ramping up quantum-resistant upgrades—this is not the primary driver of Bitcoin’s recent price decline. The firm observed Bitcoin has moved in lockstep with publicly traded quantum computing companies over the past few months. If quantum breakthroughs were pressuring Bitcoin, quantum firm stocks should be rising—but the opposite is true. Moreover, Bitcoin and quantum computing stocks’ declines since last October mainly reflect market concerns that AI is triggering de-risking of growth assets. Though Bitcoin’s recent stronger correlation with cutting-edge tech assets like quantum computing has boosted investor sentiment, it has not eroded Bitcoin’s store-of-value role in diversified portfolios. Investors don’t need to wait for block

A whale longed 63 bitcoins, worth approximately $5.1 million

On May 5th, on-chain analytics indicate a whale opened a 1x leveraged long position on 63 Bitcoin—valued at roughly $5.1 million—with a liquidation price set at $31.18. Additionally, the whale primarily traded the HYPE token, netting a $330,000 profit.

A trader liquidated their $56.68 million USD Bitcoin short position, resulting in a $1.94 million USD loss.

May 5th: LookOnChain data shows a trader liquidated a $56.68 million Bitcoin short position 1 hour ago, incurring a $1.94 million loss. Prior to this, the trader had shorted Bitcoin 11 times, netting $1.71 million in total profits—this latest loss has erased all those gains.

The probability of Bitcoin breaking $90,000 this year on Polymarket is currently 70%, while the probability of dropping below $55,000 is now at 46%.

May 5 Polymarket data indicates: - Bitcoin’s probability of hitting $90k this year is now 70%, up 2% in the past 24 hours. - Chance of surpassing $100k stands at 45%, unchanged over the same period. - Likelihood of dropping below $55k is 46%, no shift in 24 hours. - Probability of falling under $50k is 38%, down 2% in the last day.

If Bitcoin surpasses $82,000, the mainstream CEX cumulative short liquidation intensity will reach $1.328 billion.

May 5th data from Coinglass shows that if Bitcoin rises above $82,000, the total short liquidation intensity across major centralized exchanges (CEXs) will hit $590 million. Conversely, if Bitcoin falls below $78,000, the total long liquidation intensity on these major CEXs will reach $2.048 billion. BlockBeats Note: Liquidation charts do not display the exact number or value of contracts set to be liquidated. Instead, the bars on these charts represent how significant each liquidation cluster is relative to adjacent clusters—this is referred to as "intensity." As such, the charts illustrate the extent to which the underlying asset’s price will be impacted when it hits a specific level. A taller "liquidation bar" means the price, once reached, will trigger a more intense reaction due to a liquidity cascade.

Trader Eugene: If Bitcoin Can Stay Above $80,000, Speculators Will Return to the Crypto Market

On May 5th, trader Eugene Ng Ah Sio shared his latest market take on his personal channel: He noted he hasn’t spoken up about crypto in a while—mainly because he lacked a clear view of the market. Trading crypto lately has felt like torture, he said, while the stock market offered far better opportunities (opportunity cost is real). Still, he finally spotted an opportunity he’s willing to bet on. His bullish call since his last post proved correct, he added—even though he got liquidated just before BTC’s final surge. For him, BTC’s $80k level is critical: it’s the first sign of reclaiming its range since the downtrend kicked off in September 2025. While a crypto-specific narrative is still missing, he believes price almost always leads fundamentals in this space. His take: if BTC can hold above $80k long enough, speculators will come back.

Bitcoin Breaks $81,000, 24-hour Gain of 1.17%

May 5th — Per HTX data, Bitcoin has surpassed $81,000, up 1.17% over the past 24 hours, and is currently trading at $81,035.

Polish Cryptocurrency Exchange Hit by Ponzi Scheme, Former CEO Disappears with 4,500 Bitcoins Private Keys

On May 5, Polish crypto exchange Zondacrypto is under a major fraud investigation. Its former CEO went missing in 2022, taking the cold wallet private key holding 4,500 bitcoins—currently worth over $340 million. The current CEO has admitted he can’t access the wallet and was recently reported to have fled to Israel. Prosecutors estimate potential customer losses at roughly $97 million. On-chain data shows the exchange’s hot wallet bitcoin balance has plunged 99.7% since mid-2024, with users widely reporting withdrawal issues. Polish Prime Minister Tusk estimates up to 30,000 users may be affected. Tusk publicly accused the exchange of being funded by Russian-linked entities and used to back opposition lawmakers in blocking crypto regulation in Poland. He bluntly labeled it a “Polish Ponzi scheme” and criticized the president for twice vetoing the localization bill of the EU’s MiCA framework, turning Poland into a “haven for fraudsters.” The exchange’s board of directors said

Trump Refuses to Confirm Validity of US-Iran Ceasefire Agreement, Bitcoin Continues to Soar, Circle Surges 20%

On May 5, CCTV News reported that U.S. President Donald Trump declined to explicitly confirm whether the U.S.-Iran ceasefire agreement remains in effect during an interview. When asked if the ceasefire had ended and whether military strikes could resume, Trump responded: "I can't tell you that. If I answer, you'd say the person isn't smart enough to be president." Earlier that day, Trump had warned in another interview that Iran would be "completely obliterated" if it attempted to attack U.S. ships in the Strait of Hormuz or the Persian Gulf. However, he later noted that from a military perspective, the U.S.-Iran conflict is "basically over." Per HTX market data, Bitcoin is maintaining its upward momentum, currently trading at $79,915 with a 24-hour gain of 1.02%. Over the past 24 hours, total network liquidations reached $513 million—$170 million in long positions and $343 million in short positions. Bitget market data shows U.S. stocks closed lower on Monday: the Dow Jones I

Bitcoin Surges Above $80,000

May 4 — Per HTX market data, Bitcoin has rebounded and breached $80,000, currently trading at $80,114.

Strive Acquires 444 Bitcoins, Valued at Approximately $33.9 Million

On May 4, Strive CEO Matt Cole disclosed via social media that he had increased his stake by roughly $33.9 million to acquire 444 bitcoins, at an average price of approximately $76,307 per BTC. His total bitcoin holdings now stand at 15,000 BTC, with a current quarterly return of 4.3% and a year-to-date return of 18.7%.

Analyst: Bitcoin Rebound 'Fragile,' Rally Driven by Oil Price Drop Rather Than Strong Buying Pressure

May 4 (Wednesday) — Macro analyst and Coin Bureau co-founder Nic Puckrin said in a post that Bitcoin’s rebound after recently topping $80,000 “looks shaky.” He noted the rally was mainly driven by falling oil prices (Brent crude dropped below $110 on “Project Freedom” news) — not strong buying support. If Brent surges back above $110, Bitcoin will face heavy downward pressure again. Puckrin added that if Bitcoin can’t hold above $79,500 today, the chance of a sharp rally will fade. He also pointed out gold has lost momentum after a strong 2025; safe-haven demand for the U.S. dollar is weakening too, as countries globally look to cut reliance on dollar-denominated assets. On traditional stocks, Puckrin warned AI trading is growing overcrowded. A red flag: industry outsiders (like a Japanese toilet maker) are “jumping into AI” to boost share prices — similar to last year’s trend of companies adding Bitcoin to their treasuries, which could signal a precursor to large-scale sell-o

Whale "Sets 10 Major Goals First" and Then Longs 46.1 Bitcoins, Worth About $3.63 Million

On May 4th, crypto whale “Sets 10 Big Goals First” (@Jason60704294) shared a trading screenshot on social media, revealing they’d successfully opened a long position using 46.1 BTC at $78,848.05—valued at roughly $3.63 million.

Hut8 Secures $200 Million Facility from FalconX, Completes Bitcoin Credit Refinancing with Interest Rate Reduced by 200 Basis Points

On May 4, energy infrastructure platform Hut 8 Corp. announced its subsidiary has entered into a 364-day, $200 million Bitcoin-backed credit facility with FalconX—replacing its existing credit line with Coinbase. Hut 8 CEO Asher Genoot said the move aims to cut capital costs, reduce risk, and boost strategic flexibility. FalconX’s Credit Lead Craig Birchall noted Hut 8’s diversified revenue streams and track record operating through multiple market cycles make it a rare top-tier institutional borrower.

The Whale Makes ?First Set of 10 Big Goals? Holding $1.95 Billion Worth of Bitcoin Short Position, Currently Profiting $2.463 Million

May 4th: On-chain analyst Ai Auntie (@ai_9684xtpa) reports that whale trader "Setting 10 Big Goals First" (@Jason60704294) opened a Bitcoin short position at $79,903.19, selling 2,448.2 BTC worth roughly $195 million. The position currently has an unrealized profit of $2.463 million.

Bitcoin Plunges 1.5% in 10 Minutes, Dips Below $79,000

May 4: Bitcoin plunged 1.5% suddenly within 10 minutes per HTX market data, dropping below $79k to a current price of $78,724. Separately, per Iran’s Fars News Agency, a U.S. warship ignored Iranian warnings today and attempted to approach the Strait of Hormuz. Iran fired two missiles at the vessel, prompting it to turn back.

Viewpoint: The Bitcoin community is beginning to reach a preliminary consensus on the quantum threat and is pushing forward a post-quantum upgrade roadmap

On May 4, Galaxy Digital Research Director Alex Thorn noted that as quantum computing hardware advances, the Bitcoin community is shifting from decentralized debate to preliminary consensus on the quantum threat. The core approach is to phase in post-quantum cryptography (PQC) via a soft fork, upgrading the address system and enhancing long-term security. The report notes Bitcoin’s signature mechanism—based on the Elliptic Curve Digital Signature Algorithm (ECDSA)—is theoretically vulnerable to Shor’s algorithm. Roughly 2 million BTC tied to early p2pkh addresses face a potential “collect now, decrypt later” risk due to exposed public keys. The community is leaning toward a “migration window” mechanism: guiding users to move funds to new quantum-resistant addresses, with unmigrated funds to be frozen or destroyed after a multi-year grace period to avoid market disruptions from extreme scenarios. Additionally, the consensus calls for boosting “cryptographic agility,” letting the p