CoinDesk, May 12: 1. Wintermute: U.S. equities have risen for six consecutive weeks; BTC has broken above $80,000 for the first time since January. 2. CryptoQuant: The Bitcoin bull-bear cycle indicator has turned green for the first time since March 2023. 3. MARA sold $1.5 billion in Bitcoin and shifted focus to AI infrastructure. 4. The Bhutanese government transferred another 100.44 BTC, valued at approximately $8.2 million. 5. Michael Saylor: Bitcoin sales strategies should avoid becoming net sellers. 6. Coinglass monitoring: A large sell wall exists near $81,270–$81,300 for BTC. 7. Grayscale has applied to convert the Zcash trust into a spot ETF. 8. Bakkt reported a net loss of $11.7 million for Q1. 9. Bakkt’s Q1 revenue declined 77% as it transitions to stablecoin infrastructure and AI finance. 10. Three men in the U.S. have been indicted by a federal grand jury for cryptocurrency robbery.
BTC Surpasses $80,000 for the First Time Since January
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Summary
BTC price surged past $80,000 for the first time since January, according to Wintermute. The rally followed six consecutive weeks of gains in U.S. stocks. CryptoQuant’s bull-bear cycle indicator turned green for the first time since March 2023. BTC dominance rose slightly during the move. MARA sold $1.5 billion worth of BTC to fund AI infrastructure. Bhutan’s government transferred 100.44 BTC ($8.2 million). Michael Saylor urged investors to avoid net selling in their BTC strategy.
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