Bitcoin Price Analysis: BTC Continues Slide as Macro Pressures Hit Risk Assets

Bitcoin (BTC) dipped below $80,000 on Friday, falling to a low of $78,591 before settling at $79,058. The downturn continued over the weekend as the flagship cryptocurrency fell 1.21% on Saturday and 0.89% on Sunday to $77,407. BTC is trading at a two-week low as macro pressures, such as the US-Iran war, pushed traders to reduce their exposure.

The latest downturn comes as the yield on the 30-year US Treasury climbed to 5.13%, the highest since 2007, and yields on the 10- and 2-year Treasuries rose to yearly highs.

Michael Saylor Hints at Another Bitcoin Buy

Strategy’s Michael Saylor has hinted that the Bitcoin treasury company could buy more BTC this week. Saylor posted the all-too-familiar chart that has tracked Strategy’s purchases for the better part of six years. The former Strategy Chairman has consistently posted the chart when teasing a substantial corporate purchase. A potential BTC acquisition could add to the company’s Bitcoin holdings. Strategy currently holds 818,869 BTC, valued at around $67.2 billion at current prices.

Saylor and Strategy are also encouraging retail investors to vote on a proxy measure that would allow the company to pay semi-monthly dividend payouts to STRC holders. Retail investors own 80% of Strategy’s perpetual Stretch Preferred Stock (STRC). The company claims semi-monthly payments will help reduce reinvestment lag, enhance liquidity, and ensure price stability.

Intesa Sanpaolo Doubles Crypto Holdings

Italy’s largest bank, Intesa Sanpaolo, has doubled its crypto exposure in Q1 2026. The bank’s crypto holdings have risen from $100 million in 2025 to $235 million as of March 31, 2026. Intesa Sanpaolo added to its positions in the ARK 21Shares Bitcoin ETF and BlackRock’s iShares Bitcoin Trust ETF. It also added a $26 million stake in XRP through Grayscale’s XRP Trust ETF, and opened a position in the iShares Bitcoin Trust call options. The bank has disclosed that its crypto positions are for proprietary trading purposes. However, it has not disclosed whether the assets are used to hedge products offered to clients.

THORChain Confirms Exploit, Launches Recovery Portal

THORChain has confirmed that over $10 million was stolen from the platform as it launched a recovery portal for affected users. The decentralized exchange halted trading on Friday after an exploit allowed hackers to access $10 million worth of crypto. An investigation into the exploit revealed that one of THORChain’s Asgard vaults was compromised. Researchers disclosed that the vulnerability was linked to the threshold signature scheme managing cross-chain liquidity. The vulnerability allowed unauthorized transactions from the vault, with the hackers draining $10.7 million.

THORChain confirmed the rollout of a recovery portal on Saturday, allowing impacted users to revoke malicious token approvals and check their eligibility for compensation. Affected users have a 21-day window to submit claims before the refund window closes on June 4.

Bitcoin Price Analysis

Bitcoin (BTC) dropped below $80,000 on Friday, declining 2.49% as macro pressures weighed down market sentiment. Selling pressure persisted over the weekend, with the price dropping 1.21% on Saturday and 0.89% on Sunday. The flagship cryptocurrency fell to a two-week low on Monday, with the broader cryptocurrency market facing renewed volatility and declining by 1.10% to $2.56 trillion. Rising US Treasury yields and a sharp jump in oil prices put more pressure on the markets, pushing BTC to a low of $76,537.

The yield on the 30-year US Treasury has risen to 5.13%, the highest since 2007, while yields on the 10- and 2-year Treasuries reached their highest level in over a year. The ongoing US-Iran war and its global fallout have also forced traders to reduce their positions. According to Coinglass, the market downturn resulted in over $500 million in long positions liquidated. Spot Bitcoin ETFs, which recorded over $131 million in inflows, snapped back into the red on Friday, shedding over $290 million.

BTC has come under increasing pressure since Friday as global market conditions and the US-Iran war impacted risk assets. Rachel Lucas, an analyst at BTC Markets, called BTC’s pullback a macro story, adding, Risk appetite has repriced, and Bitcoin is moving with it.

Meanwhile, oil prices climbed higher and Asian stocks plummeted thanks to uncertainty around the reopening of the Strait of Hormuz.

Markets are also expecting no change in interest rates, with prediction market platform Polymarket giving a 98% chance the Federal Reserve will leave interest rates unchanged. Traders expect rates to be unchanged in July as well. Higher interest rates generally reduce the appeal of risk assets like Bitcoin.

BTC’s 1-day chart shows a substantial downturn since the flagship cryptocurrency was rejected from the $82,000 mark on Monday (May 11). The price fell to a low of $78,699 by Wednesday (May 13) but rebounded the following day to reclaim $80,000. However, it was rejected around the $82,000 mark again and settled at $81,079, up 2.26%. Selling pressure returned on Friday as macroeconomic and geopolitical concerns weighed down investor sentiment.

As a result, BTC slipped back below $80,000 on Friday, settling at $79,058. Prices continued declining over the weekend and settled at $77,407. Selling pressure persisted on Monday as BTC fell to a two-week low of $76,537. The MACD shows sellers firmly in control, but some analysts believe the downturn is not a major bearish reversal. According to a TradingView update, BTC’s medium-term bullish structure will remain intact as long as it holds above $75,000.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.