Find out how the leading cryptocurrency is performing this Thursday.
On May 6, Bitcoin (BTC) confidently broke through the key $81,000 resistance level and reached new local highs above $82,000. At the time of publication on May 7, 2026, BTC▼$65,825.00 trades at approximately $81,500.
Hot topic: American Bitcoin Q1 Loss Nears $82M Despite BTC Mining Record
The intraday low stood at $80,741, with a high of $82,850. Over the week, the coin has risen nearly 8%.
The cryptocurrency showed strong growth amid reports of a possible memorandum between the United States and Iran.
Meanwhile, the second-largest cryptocurrency, Ethereum (ETH), trades at approximately $2,340. It has lost about 1.5% over the past 24 hours but has risen 4.5% over the week.
Many altcoins in the top 100 by market cap continue their steady growth. Yesterday, we highlighted five coins that posted the strongest daily gains. By May 7, growth rates had slowed, but the trend has not stopped.
What Is Influencing Bitcoin’s Price on May 7?
The Fear and Greed Index rose to 47 points, moving into neutral territory.
According to Coinglass, shorts saw $122.8M liquidations over the past 24 hours, compared to $40.8M in longs.
Spot bitcoin ETFs recorded $46.3M in inflows, the fourth consecutive day of positive flows, although the pace has slowed significantly.
Read more: Bitcoin Core Vulnerability Could Let BTC Miners Crash Nodes
The main catalyst for the rise was news of a possible US-Iran memorandum. According to Axios, the document contains 14 points, including:
- Unblocking the Strait of Hormuz
- Limiting Iran’s uranium enrichment to 3.67%
- Gradually lifting US sanctions
The draft also includes a 30-day period to reach consensus and the possible removal of already enriched uranium from the country. This triggered a sharp drop in oil prices and increased risk appetite.
Market Microstructure
According to CryptoQuant, bitcoin’s price tested the cost basis level of short-term investors at approximately $81,300. This is an important psychological level that will determine the direction of the trend.
Technical analyst Daan Crypto Trades noted that bitcoin is testing the 200-day simple and exponential moving averages. To sustain upward momentum, the price needs to close firmly above these indicators.
Learn more: Find New Crypto Coins Before They Explode in 2026 — Signals, Tools & On-Chain
