New York, May 12, 2026, 05:05 EDT
Bitcoin clung to levels just above $80,000 in early New York hours Tuesday, as traders shrugged off another attempt to crack $82,000. The digital asset was recently changing hands around $80,817 after ranging between $80,544 and $82,084 so far in the session.
That pause in momentum comes ahead of three immediate hurdles for crypto: U.S. inflation numbers, a Senate committee’s key vote on digital-asset regulation, and new geopolitical tension sparked by Iran. Bitcoin has climbed back after last week’s drop tied to jobs data, yet traders remain unconvinced—it’s more a test of resistance than a clear breakout, CoinDesk noted.
Fund flows are putting up strong numbers again. Digital-asset investment products pulled in $857.9 million last week, marking a sixth consecutive week of inflows, according to CoinShares. Bitcoin led with $706.1 million, and total assets under management climbed to $160 billion.
That spike in demand arrives as Washington heads into a high-stakes crypto vote. The Senate Banking Committee is scheduled to take up H.R. 3633, the Digital Asset Market Clarity Act of 2025, with the hearing set for 10:30 a.m. ET on May 14. The legislation looks to clarify the split between regulators on whether crypto tokens count as securities or commodities. Stablecoins—crypto tokens pegged to the dollar and frequently used in payments and trading—are still a central sticking point.
Enflux, the Singapore market maker, pointed to ETF demand and thin exchange inventories as key supports for bitcoin, telling CoinDesk these forces are setting a more solid floor under the price. Still, the firm highlighted $80,700 as genuine resistance. “That level is real overhead, not just a chart marker,” Enflux said. Futu News
It’s not a one-way street for the tape. According to CoinDesk, which referenced Glassnode, spot cumulative volume delta climbed from $42.4 million to $62 million — a signal that traders were stepping in to buy at market, or unloading into bids. Over in perpetual futures, that same gauge surged from $110 million all the way to $410.3 million. Futures might ramp up a rally, but they can just as easily collapse if sentiment shifts.
According to The Block, QCP Capital called the market a “crossroads,” with bitcoin’s next big resistance level set at $84,000. The outlet also noted that Iran’s rejection of a U.S. peace framework, combined with Brent crude topping $104, has drawn focus back to geopolitical concerns rather than just crypto-driven flows. bloomingbit
Nic Puckrin, co-founder of Coin Bureau, described the Clarity Act to Decrypt as “a catalyst rather than the sole reason” behind the inflows, noting that institutional interest had already been gathering quietly. Bitunix analyst Dean Chen was less upbeat, labeling the recent activity “capital rotation and dip-buying activity”—not clear evidence, in his view, of a lasting bull market. Decrypt
Other digital assets saw similar action. CoinShares data showed Ethereum products pulled in $77.1 million last week, with Solana at $47.6 million and XRP at $39.6 million. As for ether, The Block pointed out that selling intensified after a whale—holding roughly $1 billion in both bitcoin and ether—unloaded ETH on the market.
But inflation looms. According to Reuters, economists are looking for a 0.6% rise in U.S. consumer prices for April, with the annual number hitting 3.7%—high energy costs from the Iran war driving those figures. A stronger print could push Treasury yields higher, prop up the dollar and put pressure on anyone betting on a fast crypto recovery.
Bitcoin’s sharp reaction to April’s robust jobs data underscored just how tied the cryptocurrency remains to big-picture economic signals. According to Reuters, U.S. nonfarm payrolls jumped by 115,000—beating the 62,000 forecast—while unemployment held steady at 4.3%. Those numbers gave markets another reason to doubt a near-term rate cut from the Federal Reserve.
Right now, $80,000 isn’t acting as a springboard—it’s the level traders seem determined to hold. Bulls, though, could make a better argument if the price clears $84,000. On the downside, if CPI comes in strong, oil spikes, or Washington stumbles, that floor could be tested again.
