As an analyst, I’ve been tracking Bitcoin‘s recent performance, and it really took off after last week’s FOMC meeting. We saw the price climb to nearly $83,000 – a multi-month high – before it encountered some resistance and pulled back a bit, dropping around $2,000.
Most larger-cap alts have declined by up to 3-4% over the past day, except BNB, SOL, and ADA.
BTC Finds Support at $81K
Bitcoin’s price fell below $75,000 last Wednesday following the latest meeting of the US Federal Reserve. The Fed decided to hold interest rates steady, which was expected, but still caused some price fluctuations in the market.
Bitcoin had a much better few days, climbing to nearly $79,000 on Friday after Iran sent a peace proposal to the United States. Although both that proposal and a second one sent on Sunday were rejected, Bitcoin continued to stay above $78,000.
Bitcoin saw strong gains starting Monday morning, reaching a three-month high of just over $80,000. After a brief pause, the price continued to climb on Tuesday and Wednesday, peaking at nearly $83,000.
Bitcoin had a strong week, increasing by $8,000, so a price drop was expected. It briefly fell to $80,800, but quickly recovered and is now trading above $81,500.
Its value has risen to $1.635 trillion, and it still controls over 58.5% of the cryptocurrency market, according to CoinGecko.
TON Keeps Rocking
Pavel Durov’s recent announcement was seen by some as a move towards greater control, but what actually happened was a surge in activity for Toncoin (TON). After Telegram announced it would become the main validator – taking over from the TON Foundation – and significantly lower transaction fees (by as much as six times), TON’s value skyrocketed. In the last 24 hours alone, it jumped another 30%, bringing its gains for the week to over 120%.
Over the last day, several cryptocurrencies saw significant gains, including VIRTUAL, SIREN, VVV, NEAR, and ICP. BNB, SOL, and ADA experienced smaller increases. Meanwhile, ETH, XRP, DOGE, HYPE, BCH, and ZEC all saw their values decrease.
The total crypto market cap has remained inches below $2.8 trillion on CG.
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2026-05-07 10:51