Bitcoin fell back below $80,000 as the 200-day MA capped upside. Dogecoin rallied nearly 50% from spring lows, breaking key moving averages. Toncoin pulled back to $2.10, with the $2.00 level as critical support.
Cerebras Systems set its IPO at $185 per share, targeting $5.5B raise at a $40B valuation, nearly 5x its $8.1B value 8 months ago. Bitcoin dropped 9% and CoinDesk 20 fell 19% as risk capital floods into AI. Upcoming SpaceX and OpenAI IPOs could deepen the drain.
The crypto market rout deepened on Saturday, with Bitcoin falling to $75,000 and Ethereum dropping to $2,300. Total liquidations exceeded $1.6 billion, liquidating over 408,000 traders. ETF outflows and geopolitical fears weigh.
Cardano trades at $0.2572 with a 1.38% gain, derivatives open interest up 3.87% and volume surging 33%, short liquidations hit $180K, while technicals face Fibonacci resistance at $0.2614 and Archax integration unlocks regulated tokenization.
A California man was sentenced to 70 months for stealing over 4,100 Bitcoin worth $263 million. The sophisticated syndicate used hackers and impersonators, spent proceeds on luxury cars and mansions. Three new suspects were added.
Bitcoin surged past $78,800, closing in on $80,000. Spot CVD hit 11,500 BTC, the highest since mid-February, while open interest rose 6.64%. Nearly $2.1 billion in short positions sit in the $78,000-$80,000 range. Institutional demand is tightening OTC supply, and ETFs recorded nine straight days of inflows totaling $1.97 billion in April.
Bitcoin slid from $82,833 to an intraday low of $79,500 on May 7, wiping out weekly gains. The move triggered about $270 million in crypto liquidations, including $91 million in bitcoin longs.
Analyst Darkfost sees Bitcoin completing wave A and expecting wave B rally to $87K, with short-term higher highs and bullish MACD crossover, but resistance near $80K-$82K.
