Bitcoin fell back below $80,000 today (May 8), as new US military strikes in the Strait of Hormuz sapped risk appetite across all markets, pushing Bitcoin to $79,250, down -2.8% in 24 hours. The pullback interrupts a multi-day green line that carried the asset to $82,700 earlier this week. The success of this weekend’s six-week winning streak hinges on one question: Will Iran respond or negotiate?
The immediate trigger was the announcement of a new round of US strikes in the Strait of Hormuz, which rattled broader equity markets and prompted traders to reduce their exposure to speculative assets. BTC briefly reached $82,000 on the back of $2.44 billion in ETF inflows in April, the strongest monthly figure since October 2025.
This momentum has now stopped. Previous episodes of this conflict showed Bitcoin’s sharp reaction to the deterioration of the ceasefireFriday’s price action fits uncomfortably into this pattern.
The broader cryptocurrency market fell -1.2%, tracking the total crypto market cap of $2.73 trillion, with risk-off sentiment extending across altcoins. The overall picture remains binary: a credible peace signal could reignite the rally, while further escalation threatens a deeper technical collapse.
Can BTC USD price hold $78,900 and recover $83,000 this week?
At $79,381.69, Bitcoin is pressing against a set of technical floors that analysts had pointed to well before Friday’s decline. The direct line is at the 50% Fibonacci retracement level at $78,920; A breakout there would expose the 100-day moving average near $75,886, a level that has not been tested since the previous phase of the Iranian conflict. BTC’s reaction to the ceasefire news earlier in the session showed how quickly the $72,000 range could emerge once macro support evaporated.RMr. Dr.
On the upper side, MEXC analysts identify 200-day moving average at $83,000 as pivotal resistance – A clean close above this level would open the way towards $89,000-$94,000 and possibly $100,000 if demand for ETFs remains steady through mid-May. The RSI is at 65.60, still technically bullish but cooling after the short squeeze surge fades.
There are three scenarios worth paying attention to:
Taurus condition: Iran signals real progress on ceasefire over the weekend, Bitcoin recovers $81,000 on Monday, ETF flows resume, and $85,000 by mid-May looks reasonable given this reading.
Basic case: The stagnation continues, with BTC consolidating between $78,900 and $81,000 as markets wait for the next catalyst.
bear case: The escalation deepens, the $78,920 level fails, and a retest of the $75,886 Exponential Moving Average (EMA) becomes the most likely outcome. The six-week winning streak is technically sound, but stuck on geopolitics rather than fundamentals.
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Bitcoin Hyper targets early uptrend as Bitcoin tests key levels
For investors watching Bitcoin stall at resistance as overall risks rise, the calculus of further immediate upside at a $1.6 trillion market cap looks increasingly compressed. The asymmetric return window is located earlier in the stack.
This is the thesis behind Bitcoin Hyper ($HYPER)a Bitcoin Layer 2 project currently on sale that has raised over $32.6 million at a current token price of $0.0136797.
The project’s primary claim, and it is an ambitious one, is to be the first Bitcoin Layer 2 to integrate the Solana Virtual Machine (SVM), theoretically providing faster execution of smart contracts than Solana itself while relying on Bitcoin’s security layer.
The decentralized canonical bridge handles Bitcoin transfers, and the architecture targets three structural weaknesses that have historically limited Bitcoin’s programmability: slow throughput, high fees, and the absence of native smart contracts.
The Iranian conflict has already shown how quickly Bitcoin blockchain infrastructure can be overwhelmed, The scalability layer has real utility context here, not just marketing copy. Staking is done live with a high APY offer.
Visit the Bitcoin Hyper Presale website here.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to provide accurate and timely information but should not be considered financial or investment advice. Since market conditions can change rapidly, we encourage you to verify the information yourself and consult with a professional before making any decisions based on this content.
Daniel Francis is a technical writer and Web3 educator specializing in macroeconomics and DeFi mechanics. A crypto native since 2017, Daniel brings his background in cross-chain analytics to author evidence-based reports and detailed guides. It is certified by the Blockchain Council and is dedicated to providing “information gain” that cuts through the market noise to find blockchain’s real-world utility.
