Bitcoin continues to face strong resistance as bulls struggle to reclaim higher price levels and restore upward momentum. With the market failing to break key resistance zones, attention is now shifting toward major Fibonacci support areas, where buyers could attempt to stabilize the current decline and prevent a deeper correction.
Italy’s biggest bank, Intesa Sanpaolo, has sharply increased exposure to Bitcoin-linked investment products, with its total crypto-related holdings exceeding $200 million as of the first quarter of 2026. New filings show the bank also made major bets on a few U.S.
May 16, 2026, 11:59 pmCrypto markets tumbled together after Bitcoin slipped below $80,000.
May 16, 2026, 11:00 pm
The Bitcoin price has surged towards the $80,000 mark over the past few weeks, signaling an ongoing resurgence from the bear-market lows observed in the first quarter of 2026. However, the premier cryptocurrency appears to have run out of the bullish impetus to sustain its current recovery, as it hovers around a psychological price level.
While reports tied to onchain-tracked wallets have widely circulated claims that Bhutan has been reducing its bitcoin holdings over the past year, Druk Holding and Investments (DHI) told the media the firm does not “recall” the last time the entity sold BTC.
Bitcoin is once again approaching a decisive technical zone as traders monitor whether the market can stabilize above key support and regain bullish momentum toward $80,000.
Crypto analyst Gargoyle has advised market participants not to buy Bitcoin until it sees high volume, which could mark the bottom. This comes amid BTC’s recent drop below the psychological $80,000 level, with the leading crypto at risk of another decline.
Bhutan's Bitcoin sell-off controversy highlights the complexities of sovereign crypto holdings, impacting market perceptions and investor confidence.
Abu Dhabi-based Mubadala added over $90 million to its already sizeable position in BlackRock’s iShares Bitcoin Trust ETF.
Bitcoin fell below $78,000 for the first time since the start of May, but traders refused to give up hope of a BTC price rebound coming next.
CoinGecko's 13-year study finds Bitcoin's best buy days fall on US holidays, with New Year's Day leading at +2.01%.
Publicly-listed bitcoin miners took a beating on Friday, May 15, 2026, with every major traded mining stock dropping between 2.52% and 9.59% in a single session, even as their year-to-date gains outpaced bitcoin’s own performance by a wide margin.
$77,977.00 -1.37%
$1.56T Market Cap
$26.24B Total Volume (1.68%)
$126,080 All Time High -38.15%
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