The past week was quite eventful once again, with headlines spanning different sectors: from the highly anticipated meeting between US President Trump and China’s Xi Jinping to inflation data and some progress on the CLARITY Act front.
The business week began on the right foot for bitcoin as it rocketed from under $80,500 to roughly $82,500 following a quiet weekend. However, the rejection was swift, and BTC dipped below its starting point within hours.
Another breakout attempt took place on Tuesday, but the bears stepped up even faster this time, not allowing BTC to surpass $82,000. The selling pressure mounted on Wednesday after the inflation data for April went live in the US. Once it became known that the CPI numbers hit a three-year high of 3.8%, BTC reacted with a price dip to under $79,000.
More volatility ensued on Thursday when the CLARITY Act passed a Senate panel, which was regarded as a bullish development for the crypto industry, as it could crystallize the regulatory landscape in the country. Bitcoin traded at around $79,500 before the news spread, but quickly exploded to $82,000.
The bears reemerged at this point once again and didn’t allow any further gains. Although BTC managed to remain close to the $82,000 level for a while, it nosedived on Friday by over three grand from the top and currently struggles below $79,000.
Its market capitalization has fallen to $1.580 trillion on CG, while its dominance over the alts remains well above 58%. Nevertheless, BTC remains slightly in the green on a weekly scale, but it has been outperformed by many altcoins, including BNB, DOGE, XRP, and SUI.
Market Data
Market Cap: $2.71T | 24H Vol: $118B | BTC Dominance: 58.2%
BTC: $78,800 (+0.6%) | ETH: $2,210 (-1.38%) | XRP: $1.43 (+5%)
This Week’s Crypto Headlines You Can’t Miss
Bitcoin’s Drop Below $80K Was Not Random: Here Are the 3 Hidden Triggers. The largest cryptocurrency slipped below $80,000 on a couple of occasions in the past week, and many analysts believe it’s not random. Easy On Chain, for example, outlined three reasons behind the asset’s decline.
Is Bitcoin’s Rally Fake? Analyst Sees Massive Downside Ahead. Another popular market observer, Dr. Profit, who has mostly leaned bearish over the past half a year, noted that the rally to over $82,000 was most likely unsustainable and predicted a substantial crash to and perhaps below $50,000.
Arthur Hayes Predicts AI Race Will Push Bitcoin Back to $126K. On the contrary, Arthur Hayes remains bullish on BTC’s long-term perspective, forecasting a massive surge to the October 2025 all-time high of $126,000. Interestingly, he thinks such a move could be propelled by the AI race.
Bitcoin and Ethereum Arrive on Wall Street Giant Charles Schwab for Selected Retail Clients. Schwab Crypto, the behemoth investment services firm’s new digital asset venture, officially launched last week, allowing certain retail investors to get exposure to BTC and ETH through the regulated platform.
Strategy’s Bitcoin Buying Spree Resumes With Fresh 535 BTC Accumulation. After a quick weekly pause, Michael Saylor’s Strategy resumed its BTC purchases. The latest was a relatively small one of 535 BTC, acquired for $43 million. Its total stash grew to 818,869 BTC.
Tom Lee Doubles Down on ‘Crypto Spring’ Theory, but Bitmine Slows ETH Accumulation. BitMine also slowed its pace of ETH purchases, but Tom Lee remains optimistic that the worst has already passed and ‘crypto spring’ is about to commence.
Charts
This week, we have a chart analysis of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid – click here for the complete price analysis.
The post Bitcoin Rejected at $80K as Inflation Fears Outweigh CLARITY Act Progress: Weekly Recap appeared first on CryptoPotato.
