The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.

CryptoUpdated×9•Originally published 8 May 2026•Updated 9 May 2026•

1 min read

Bitcoin Reclaims $80,000 Level Amid Miner Profit-Taking and Institutional Momentum

Key Facts

1Bitcoin reserves on major centralized exchanges fell to approximately 2,451,555 BTC as of May 8.

2Crypto markets are seeing a significant shift in trading volumes toward Asia and Europe.

Bitcoin (BTC) has successfully reclaimed the $80,000 mark, supported by $3.4 billion in net inflows into US spot ETFs over the past six weeks. This recovery persists despite significant profit-taking from miners, who reduced reserves by 3,400 BTC, and a record exit of 245,000 retail wallets. A critical technical shift has now emerged with a bearish MACD crossover appearing on the Bitcoin dominance chart. This signal suggests that while BTC price remains stable, its market share leadership may be waning in favor of altcoins. Analysts are closely monitoring this divergence, as a decline in dominance often precedes a capital rotation into the broader crypto market. The sustainability of the $80,000 level remains the primary focus amid these shifting technical dynamics.

25 days ago

Version History

1 additional source confirmed this story

Version 925 days ago

What changed: Updated the story to include the emergence of a bearish MACD crossover on the dominance chart, signaling a potential shift toward altcoins.

Version 825 days ago

What changed: Updated the story to reflect Bitcoin reclaiming $80,000 for the first time since February and incorporated new data regarding miner profit-taking.

Version 725 days ago

What changed: Updated the story to include data on US spot Bitcoin ETF inflows totaling $3.4 billion, highlighting the contrast between retail wallet capitulation and sustained institutional interest.

Version 626 days ago

What changed: Added historical context stating the wallet decline is the fastest in two years and identified Santiment as the data source.

Version 526 days ago

What changed: Added on-chain data regarding the decline in wallet counts and technical resistance at the 200-day EMA.

Version 427 days ago

What changed: Updated the story to reflect Bitcoin breaking the $80,000 support level and facing rejection at resistance, shifting the focus from long-term supply dynamics to immediate bearish price action.

Version 327 days ago

What changed: Specifically identified the exchanges involved (Binance, OKX, and Gemini) and established a precise three-month timeframe for the 100,000 BTC withdrawal.

Version 227 days ago

What changed: Updated data to reflect a two-year reserve low, an $8 billion (100,000 BTC) exchange exodus, and a 60% increase in demand from accumulator addresses.

Version 127 days ago

What changed: Updated the story to include new on-chain data showing a record drop in the number of holders and a two-year high in long-side futures leverage.