Bitcoin
Coinbase rebounds after earnings miss and aws outage
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Coinbase shares recovered 10 percent from session lows on Friday following a weaker-than-expected first-quarter report and a multi-hour trading outage tied to Amazon Web Services failures. Bitcoin held above $80,000 while several altcoins posted gains of 5 to 12 percent.
Michael Saylor, co-founder of Strategy, signaled that the company will buy more Bitcoin on Monday. The purchase would boost the firm's Bitcoin treasury holdings. Strategy is the world's biggest Bitcoin treasury company.
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Donald Trump advanced bitcoin's standing in U.S. policy through executive actions and new legislation during his term. Bitcoin's price performance and public adoption have shown mixed results since the 2024 election.
Some Revolut users saw Bitcoin prices crash to as low as 2 cents on Friday before quickly recovering. The incident appeared isolated to the platform and did not affect major exchanges.
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Bitcoin briefly fell below $80,000 on Thursday as analysts noted rising profit taking among traders. The move came despite recent technical signals pointing to potential upward momentum.
Hut 8, a bitcoin mining and AI compute firm, has replaced its Coinbase Credit facility with a cheaper $200 million bitcoin-backed deal from FalconX. The refinancing lowers the interest rate to 7% from 9% and frees up 3,300 BTC worth about $260 million. The move boosts liquidity as the company expands into AI infrastructure.
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Bitcoin surged above $80,000 for the first time since January during early Asian trading on May 4, 2026, reaching highs around $80,600. The cryptocurrency later pulled back to around $79,000 following reports of an Iranian missile strike on a U.S. warship, which the U.S. denied. Geopolitical risks near the Strait of Hormuz overshadowed strong ETF inflows supporting the rally.
Bitcoin traders await dip below $80,000
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