Weekly Wrap: Bitcoin Struggles To Stay Above $80,000

Bitcoin (CRYPTO: $BTC) is struggling to end the trading week above the key threshold of $80,000 U.S. In afternoon trading on May 8, BTC was changing hands at $79,800 U.S. after rising close to $82,000 U.S. earlier in the week, its highest level since January of this year.

Crypto bulls had reason to cheer as Bitcoin broke through resistance at $80,000 U.S. and managed to hold above that level for several days. Optimism around a lasting peace deal between the U.S. and Iran, equity markets at all-time highs, and the advancement of crypto legislation in Washington, D.C. helped to send BTC higher on the week. 

However, the rally seemed to lose some momentum heading into Friday’s close, sending crypto prices sliding lower across the board. Ethereum (CRYPTO: $ETH), Solana (CRYPTO: $SOL), and XRP (CRYPTO: $XRP) were each off their highs for the week during Friday’s trading session. However, many analysts remain optimistic that the worst of the “crypto winter” that began last fall is now behind us. 

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Here’s what else happened in the world of crypto over the past week: 

IREN Stock Soars On News Of Nvidia Deal: The stock of IREN (NASDAQ: $IREN) rose 13% after the data centre operator announced a new deal with leading chipmaker Nvidia (NASDAQ: $NVDA). Nvidia said that it will deploy five gigawatts of artificial intelligence (A.I.) infrastructure across IREN’s data centres. IREN will provide Nvidia with access to its cloud services worth $3.4 billion U.S. over the next five years.

Kraken Revives IPO Plans: Cryptocurrency exchange Kraken is moving forward with its plans to hold an initial public offering (IPO) this year. Arjun Sethi, co-CEO of Kraken, said the exchange is “about 80% ready” to go public by year’s end. Kraken had previously paused its IPO plans in March of this year after confidentially filing with the U.S. Securities and Exchange Commission (SEC) last November.

Strategy Posts $12.54 Billion Loss: Crypto treasury firm Strategy (NASDAQ: $MSTR) reported a net loss of $12.54 billion U.S. for this year’s first quarter as Bitcoin’s price declined. Strategy noted in its earnings release that Bitcoin’s price fell from $87,000 U.S. on Jan. 1 to $68,000 U.S. by March 31 of this year, leading to the massive net loss at the company. Strategy remains the largest corporate holder of Bitcoin, owning 818,334 BTC.

Bullish Buys Equiniti For $4.2 Billion: Cryptocurrency exchange Bullish (NYSE: $BLSH) is acquiring transfer agent and shareholder services firm Equiniti for $4.2 billion U.S. In a news release, Bullish said the Equiniti purchase will provide it with a core piece of traditional market infrastructure as it looks to push into tokenized stocks. The transaction involves $1.85 billion U.S. of assumed Equiniti debt and $2.35 billion U.S. in Bullish stock.

CZ Teases U.S. Comeback For Binance: Changpeng Zhao, known as “CZ,” has teased a potential revival of crypto exchange Binance in the U.S. Speaking at a conference, CZ, who founded Binance, said one possible path for giving American crypto traders access to better prices would be to revive the exchange in the U.S. The comments come two years after CZ pleaded guilty to numerous criminal charges. Binance has had its operations limited in the U.S. as part of the fallout from CZ’s criminal conviction. However, Binance has been plotting a big U.S. comeback under current CEO Stephen Gregory.

Coinbase Suffers Trading Outage: Coinbase Global (NASDAQ: $COIN) reported a major outage on its cryptocurrency exchange. Management at Coinbase blamed the trading disruption on a problem at Amazon Web Services (NASDAQ: $AMZN). The incident had the misfortune to occur just as Coinbase reported disappointing financial results for this year’s first quarter, sending its stock lower. The company said that users of its trading platform were unable to transact during the outage. Trading has since been restored. 

Warren Buffett Warns About Crypto: Famed investor Warren Buffett issued a warning to investors about rising speculation in financial markets, particularly as it relates to cryptocurrencies and prediction markets. At the 2026 Berkshire Hathaway (NYSE: $BRK.B) shareholder meeting, Buffett warned about the rise in short-term trading and risky bets placed on cryptocurrencies. Buffett said market behavior has moved closer to gambling as individual retail investors chase quick returns. “The market always feels like a church with a casino attached,” he said.