Story perspectives

Bitcoin slips below $80k, $289 M futures wiped after Iran strike

5/8/2026

Summary

Bitcoin Slides Below $80K

Bitcoin fell below $80,000 after U.S. strikes on targets in Iran.
Futures traders lost more than $289.68 million as liquidations surged following the price drop.
The Fear and Greed Index fell to 38 points, signaling bearish sentiment.
Unrealized profits for Bitcoin traders rose to 18%, the highest level since June 2025.
Oil prices briefly rose above $100 per barrel amid the same tensions.

Summary

Sigel Predicts

Matthew Sigel, VanEck’s Head of Digital Assets Research, forecasted Bitcoin could reach $1 million within roughly five years.
He compared Bitcoin’s adoption to the video-game industry’s rapid growth, noting younger investors hold longer.
Derivatives positioning appears controlled versus past peaks, suggesting the rally is short-covering rather than heavily leveraged.
Santiment reported a 245,000-wallet drop—the sharpest since mid-2024—while CryptoQuant noted holders’ unrealized profits hit their highest since June 2025, raising selling risk.

Summary

Bitcoin Slides

Bitcoin slipped to $79,800 on May 7 after hitting resistance near $82,800, ending a rally that peaked at $82,500 on May 6.
A bearish RSI divergence on short timeframes signaled weakening buying pressure.
CryptoQuant recorded daily realized profits of 14,600 BTC on May 4, the strongest figure since Dec 10 2025.
Spot Bitcoin ETF net inflows hit $1.05 billion for the week to May 7, the biggest since late Jan 2026.

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Bitcoin Slides Below $80K

Bitcoin fell below $80,000 after U.S. strikes on targets in Iran.
Futures traders lost more than $289.68 million as liquidations surged following the price drop.
The Fear and Greed Index fell to 38 points, signaling bearish sentiment.
Unrealized profits for Bitcoin traders rose to 18%, the highest level since June 2025.
Oil prices briefly rose above $100 per barrel amid the same tensions.

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