Bitcoin climbed above $82,000 on May 6, driven by reports of easing tensions between the United States and Iran. Oil prices fell sharply as President Donald Trump paused a military operation in the Strait of Hormuz. The move triggered more than $200 million in short liquidations.
Bitcoin extended a weeklong rebound that lifted its value by more than 7 percent this week. Data showed net inflows into US spot Bitcoin ETFs exceeding $1.6 billion since May 1, with cumulative inflows near $60 billion. Corporate treasury purchases, including more than 50,000 bitcoin by Strategy in April, added to the demand side.
